According to the latest report by IMARC Group, titled "Online Gambling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global online gambling market reached US$ 66.7 Billion in 2020. Online gambling is a type of gambling that involves betting on casino-style games over the internet. It consists of numerous popular casino games, such as poler, roulette, blackjack, sports betting and slot machines. Online gambling is commonly initiated by placing a wager on a game with the assistance of a bookie or other gambling enterprises. The activity does not require physical interaction between the players and the bookies since the sessions are facilitated through online channels. These games can be played upon downloading necessary software on the users’ computer or via a website. It is gaining widespread prominence among the players as it offers enhanced convenience to the users while providing them with the benefits of free games, bonuses, cashless transactions, loyalty points and global access.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Online Gambling Market Drivers and Future Trends:
The global market is majorly driven by the increasing proliferation of high-speed internet connectivity, along with the rising adoption of high-end smartphones among the masses. In addition to this, the legalization and cultural approval of online gambling practices across the various countries, especially the developed economies, is creating a positive outlook for the market. Multiple key players are now integrating these gaming services with advanced technologies, such as blockchain, virtual reality (VR) and 3D animation. This is anticipated to not only offer a realistic and immersive gambling experience to the players but also assist in maintaining the transparency of the gambling activities. Apart from this, industry players are now offering the options of live dealers and theme-based games to players, which is gaining widespread popularity among users. Some of the other factors contributing to the market growth include the introduction of bitcoin gambling and the availability of cost-effective mobile gambling applications. On account of the aforementioned factors, the market is anticipated to witness strong growth during 2021-2026.
- On the basis of the game type, the market has been divided into sports betting (football, horse racing, e-sports and others), casino (live casino, baccarat, blackjack, poker, slots and others) and others.
- Based on the device, the market has been classified into desktop, mobile and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include 888 Holdings PLC, Bet365 Group Ltd., Betsson AB, Cherry Spelglädje AB, Flutter Entertainment Plc, Galaxy Entertainment Group, GVC Holdings Plc, Intralot, Kindred Group Plc, LeoVegas AB, and MGM Resorts International.
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