The global online gambling market size is expected to reach USD 205.60 billion by 2030 according to a new study by Polaris Market Research. The report “Online Gambling Market Share, Size, Trends, Industry Analysis Report, By Type (Sports Betting, Casinos, Poker, Bingo, Others); By Device (Desktop, Mobile, Others); By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The growing internet penetration, increasing use of smartphones, easy availability, and accessibility to digital betting platforms, and others are the factors contributing to the growth of the market. For example, according to American Gaming Association (AGA), over 2,800 online sites are active on digital platforms that provide activities such as bingo, poker, lottery, etc. The rising popularity of online betting among people, along with the implementation of the freemium model in online wagering, is anticipated to drive the growth of the industry.
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There are several digital platforms operating across the globe that rapidly gain the new audience’s interest by creating a broad range of promotions and tournaments. On the basis of type, the sports betting segment witnessed the largest share in 2021 in the global industry. The growth of the industry is driven by the growing popularity of digital platforms worldwide. The rising disposable income of people in the emerging nations has resulted in the increased spending capacity on virtual betting, which in turn, is expected to drive the growth of the industry.
Europe has dominated the global market in 2021 and is expected to account for the largest share over the forecast period. The demand for the industry in the region is driven by the legalization of gambling in several economies, including Italy, Germany, France, and Malta. In addition, the increasing popularity of online casinos, along with the relaxation in online gambling regulation, is projected to bolster the demand for the industry. For instance, the Gambling Act of 2005 under the UK Gambling Commission allows companies to publicize and promote their gambling sites.
Major participants such as Bet365 Group Ltd., Entain, 888 Holdings PLC, William Hill PLC, Betsson AB, Paddy Power Betfair PLC, Kindred Group PLC, Sky Betting & Gaming, The Stars Group Inc., and Ladbrokes Coral Group PLC are some of the key players operating in the global market.
Polaris Market Research has segmented the online gambling market report on the basis of type, device, and region:
Online Gambling, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Sports Betting
Online Gambling, Device Outlook (Revenue – USD Billion, 2018 – 2030)
Digital Payment, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa