Online Gambling is a type of gambling conducted over the internet. These include gambling games like virtual poker, casinos, and sports betting. These games are based on a betting system and the betting is done via credit cards accounts. The increasing investments by the people in online gambling platforms and the growing numbers of online casinos across the globe are the major drivers for the market. As per the statistics of Easy Payment Gateway, In 2020, the online gambling market players had witnessed a 10% growth in the volume of transaction processing in the gambling sector and according to a report of World gambling statistics around 26% of the population gamble, which means about 1.6 billion people gamble worldwide and around 4.2 billion gambles at least once every year. However, the increase in the global recession, stringent government regulation, regulatory restrictions to curb gambling impedes the growth of the market over the forecast period of 2020-2027. Also, many online casinos offer a free play version for some of their games which is likely to increase the market growth during the forecast period.
Global Online Gambling Market is valued at approximately USD 58.10 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 11.47 % over the forecast period 2021-2027 and is estimated to reach USD 120.23 billion by 2027.
The regional analysis of the global Online Gambling market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe is the leading/significant region across the world in terms of market share owing to the legalization of online gambling, rising use of smartphones among people, and availability of high-speed internet. Whereas, Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rising popularity of bitcoins and high economic growth would create lucrative growth prospects for the Online Gambling market across the Asia-Pacific region.
Major market players included in this report are William Hill PLC, Bet365 Group Ltd., Paddy Power Betfair PLC, Betsson AB, Ladbrokes Coral Group PLC, The Stars Group Inc., 888 Holdings PLC, Sky Betting & Gaming, Kindred Group PLC, and GVC Holdings PLC.
The detailed segments and sub-segment of the market are explained below:
By Gambling Type: Sports Betting, Casinos, Poker, Bingo, Others
By Gambling Device: Desktop, Mobile, Others
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