Online Gambling and Betting Market: Current Analysis and Forecast (2022-2028)

The global Online Gambling and Betting Market is expected to grow at a significant rate of around 11% during the forecast period. Online gambling and betting consist of games such as poker, casino, sports betting, lottery, online football betting, and online cricket betting. These games are played on smartphones, tablets, PCs, and other digital platforms. A growing consumer preference for online live casinos over conventional land-based casinos across various countries that have legalized offline and online gambling is strongly favoring the market growth.

Moreover, factors such as the rising shift of players from offline to online gambling have created lucrative growth prospects for online casino operators. Numerous professional players prefer live casinos as they help them track their moves. The usage of mobile devices to participate in all types of gambling activities is increasing. Furthermore, the increasing ease of government regulations worldwide coupled with increased high-speed internet access, rising ownership of connected devices, and growth of women's gambling are escalating the market size of Online gambling and betting across the globe.

888 Holdings plc., The Stars Group, Paddy Power Betfair plc, Fortuna Entertainment Group, GVC Holdings Plc, Bet365 Group Ltd, Betfred Ltd, The Betway Group, Kindred Group, and William Hill plc.

Insights Presented in the Report:

"Amongst gaming type, sports category to hold significant share during the forecast period"

Based on the gaming type, the online gambling and betting market is classified into poker, casino, bingo, sports betting, lottery, and others. The sports betting segment caters substantial share of the market. The rising popularity of sports betting gambling on games such as football, cricket, and casino, coupled with increased internet penetration and a surge in the adoption of smartphone users have escalated the market size of online gambling and betting market. In addition, the growth of online gambling and betting apps where collaboration between third-party software suppliers and private firms to produce user-friendly UI gaming solutions for users has resulted in a market expansion.

"Amongst device type, mobile & tablets segment to hold a significant share in the market in 2020"

Based on device type, the online gambling and betting market is segmented into desktops & laptops and, mobiles & tablets. The mobile & tablets segment caters considerable share of the market. Factors such as increased access to online gambling and betting through mobile phones coupled with advanced features such as improved graphics and extended storage capacity in a smartphone are making it convenient for gamblers is proliferating the market. In addition, mobile online gambling offers several advantages to gamers, such as loyalty points, additional deposit options, and multiplayer gaming options with players located anywhere throughout the globe.

"Asia Pacific to hold a significant share in the market"

Asia Pacific is anticipated to grow at a significant share of the market during the forecast period. This is mainly attributed to the favorable legal framework in several economies and the penetration of low-cost internet services in the region. In addition, increase in presence of gambling & betting sites with attractive offers. Furthermore, the rising popularity of bitcoins has led to an increase in the use of digital currency for betting in the region.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

Customization Options:

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