PUBLISHER: Bonafide Research | PRODUCT CODE: 1254598
PUBLISHER: Bonafide Research | PRODUCT CODE: 1254598
The increasing demand for online gambling in Europe, which ensures authenticity and prevents fraudulent activities, is one of the key factors supporting the market's growth in Europe. Aside from that, the increasing hardware and software innovations in online gambling by various key players are providing a positive market outlook throughout the region. Furthermore, the popularity of casino and sports betting is growing rapidly in Europe. This, combined with the increasing adoption of smartphones, advanced internet capabilities, and rapid digitalization, is driving market growth in Europe. Apart from that, there is a growing demand for online gambling, which is a more affordable option due to lower betting limits than traditional gambling and is providing lucrative growth opportunities for industry investors. Furthermore, the wide availability of different online gambling websites, as well as benefits such as global access, low pressure, and profits, are contributing to the region's market growth. Furthermore, the rapid adoption of virtual reality (VR), blockchain, and mobile platforms in online gambling is fueling European market growth.
According to the research report, "Europe Online Gambling Market Outlook, 2028" published by Bonafide Research, the market is anticipated to add market size of USD 22.71 billion by 2028. The European online gambling market offers a wide variety of products, including sports betting, casino games, poker, bingo, and lotteries. This variety has drawn a wide range of customers and aided in driving growth. In recent years, the online gambling industry has increased its advertising efforts, which have helped to raise awareness and attract new customers. In comparison to other regions, Europe has a relatively high level of disposable income, which has contributed to the growth of the online gambling market. In Europe, live casino gaming is gaining popularity because it allows players to interact with real dealers and other players in real time. Technology advancements and a desire for a more immersive gaming experience are driving this trend. Data and analytics are increasingly being used by online gambling companies to personalise the gaming experience for individual players. As operators strive to improve customer engagement and loyalty, this trend is expected to continue. Esports betting is a growing market in Europe, especially among younger video game fans. The growing popularity of esports and the availability of betting markets on major esports events are driving this trend.
According to the report, the Europe market is segmented into six major countries including Germany, France, UK, France, Spain, Italy and Russia. Among them, UK acquired around 29 % market share in 2022. The United Kingdom has a well-established regulatory framework for online gambling that ensures the safety and fairness of operations. The UK Gambling Commission is well-known for its stringent regulatory standards, which have contributed to a high level of trust among players. The market in the United Kingdom is mature and competitive, with a large number of long-established online gambling operators. This has contributed to the industry's strong customer base and reputation in the UK. The United Kingdom has a strong sports betting culture, which has aided in the growth of online sports betting in the country. The popularity of major sporting events such as the English Premier League and Wimbledon has aided the growth of online gambling in the UK.
According to the report, the market is segmented into various gaming types including sports betting, casinos, poker, bingo, lottery and others. Among them, casinos leads the market with more than 38% share followed by sports betting. Online casinos offer the convenience of being able to play anytime and anywhere, which is a major factor in their popularity. Players can access a wide range of games on their desktops, laptops, or mobile devices, without the need to travel to a physical casino. During the forecast period the poker segment is expected to dominate the market of online gambling in Europe. Based on device type, mobile device segment leads the market with highest market share in 2022 and mobile device segment is expected to grow with higher CAGR for 2023-2028.
Considered in this report
Aspects covered in this report:
Countries covered in the report:
By Gaming Type:
By Device Type:
The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Online Gambling industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.