Emphasis on Gaming Type (Poker, Casino, Bingo, Sports Betting, Lottery, and Others); Device Type (Desktops & Laptops and, Mobiles & Tablets); Gaming Sources (Foreign Gaming Sources and Local Gaming Sources); Region/Country
The Online Gambling and Betting market was valued at approximately USD 60 Billion in 2023 and is expected to grow at a robust CAGR of around 11.0% during the forecast period (2024-2032). The growth of the online gambling and betting market is driven by increasing smartphone penetration, internet accessibility, and the legalization of online gambling in various regions.
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 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.
This section discusses the key market trends influencing the Online Gambling and Betting segments as identified by our research experts.
The rising popularity of sports betting gambling on games such as football, cricket, and casinos, 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.
The Asia Pacific market of online gambling and betting is on the rise due to several factors. The fundamental reason is the progressively higher density of connection rates in the region, as more people were able to use Internet platforms from home. Increasing mobile internet use, especially with the growing use of smartphones especially amongst the growing economies such as India, China, and Southeast Asian countries has seen more people having a chance to engage in betting and gaming online. With gradually increasing disposable per capita incomes in these areas and a relatively large and growing number of middle-income populations, there is a higher tendency for expenditures in leisure and entertainment, such as virtual betting. For instance, the Japanese and the Philippines are liberalizing the sale of gambling online while India is experiencing an increasing appetite for fantasy sports and similar gambling online.
Online Gambling and Betting are competitive, with several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are evoke plc., The Stars Group, Flutter Entertainment plc, Fortuna Entertainment Group, GVC Holdings Plc, Bet365 Group Ltd, Betfred Ltd, The Betway Group, Kindred Group, and William Hill Plc. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Global Online Gambling and Betting can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology Or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Online Gambling And Betting Market Revenue (usd Bn), 2022-2032f
7. Market Insights By Gaming Type
8. Market Insights By Device Type
9. Market Insights By Gaming Source
10. Market Insights By Region
11. Value Chain Analysis
12. Competitive Landscape
13. Company Profiled
14. Acronyms & Assumption
15. Annexure
16. Disclaimer
Analyzing the historical market, estimating the current market, and forecasting the future market of the global Online Gambling and Betting market were the three major steps undertaken to create and analyze the adoption of Online Gambling and Betting in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, numerous findings and assumptions were taken into consideration to validate these insights. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global Online Gambling and Betting market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Online Gambling and Betting market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of Online Gambling and Betting, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report, such as gaming type, device type, gaming source, and region. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Online Gambling and Betting market. Further, we conducted factor analysis using dependent and independent variables such as gaming type, device type, gaming source, and Online Gambling and Betting regions. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Online Gambling and Betting market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above three steps, we arrived at the current market size, key players in the global Online Gambling and Betting market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global Online Gambling and Betting. Data was split into several segments and sub-segments after studying various parameters and trends in the gaming type, device type, gaming source, and regions of the global Online Gambling and Betting market.
The current & future market trends of global Online Gambling and Betting were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the global Online Gambling and Betting's current size and growth potential?
Q2: What are the driving factors for the growth of global Online Gambling and Betting?
Q3: Which segment has the largest share of the global Online Gambling and Betting by gaming type?
Q4: What are the emerging technologies and trends in global Online Gambling and Betting?
Q5: Which region will dominate global Online Gambling and Betting?
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