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The global online gambling market reached a value of US$ 72.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 131.4 Billion by 2027, exhibiting at a CAGR of 9.96% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Online gambling, or virtual gambling, refers to betting on casino or sports-based activities over the internet. In comparison to in-person gambling, online gambling does not involve physical interaction of players and all the sessions are moderated by computer programs. Players can virtually play various games, such as sports betting, blackjack, poker, roulette and slot machines. They can download gambling software on their personal computers or can play through a website. Online gambling offers various benefits, such as cashless transactions, accessibility through any electronic device, customizable budget and real-time gambling experience for the players.
Global Online Gambling Market Trends and Drivers:
Rapid urbanization, along with the increasing penetration of the internet across the globe, is one of the key factors driving the growth of the market. Furthermore, legalization and cultural approval of online betting in various developed countries are also providing a boost to the market growth. Online sports companies are also attaining high-profile sponsorships with various football and racing clubs, which helps attract new users. In line with this, convenient access to online casinos that can be used through mobile phones is also creating a positive impact on the online gambling industry.
Various technological advancements, such as the development of virtual reality (VR) and blockchain tools, are acting as another growth-inducing factor. These technologies aid in maintaining the transparency of gambling activities and provide an immersive experience to the player. Other factors, including increasing expenditure capacities of the consumers, along with the advent of bitcoin gambling, are expected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global online gambling market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on game type and device.
Breakup by Game Type:
Breakup by Device:
Breakup by Region:
The global online gambling industry is highly fragmented with the presence of several small and large players. Some of the leading players in the market are:
|Base Year of the Analysis||2021|
|Segment Coverage||Game Type, Device, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||888 Holdings PLC, Bet365 Group Ltd., Betsson AB, Cherry Spelgladje AB, Flutter Entertainment Plc, Galaxy Entertainment Group, GVC Holdings Plc, Intralot, Kindred Group Plc, LeoVegas AB and MGM Resorts International|
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The global online gambling market size was valued at US$ 72.3 Billion in 2021.
According to the estimates by IMARC Group, the global online gambling market is expected to exhibit a CAGR of 9.96% during 2022-2027.
The high internet connectivity and rising legalization of online casinos represent some of the key drivers for the global online gambling market.
The growing integration of online gambling platforms with several advanced technologies, such as virtual reality (VR) and blockchain, represents one of the key trends in the global online gambling market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary shutdown of physical casinos. This led to the surging demand for online gambling as a source of entertainment during the lockdown scenario.
On the basis of the game type, the market has been bifurcated into sports betting, casino, and others. Currently, sports betting holds the majority of the total market share.
On the basis of the device, the market has been divided into desktop, mobile, and others. Among these, mobile represents the largest segment.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Europe dominates the global market.
The key companies in the global online gambling market are 888 Holdings PLC, Bet365 Group Ltd., Betsson AB, Cherry Spelgladje AB, Flutter Entertainment Plc, Galaxy Entertainment Group, GVC Holdings Plc, Intralot, Kindred Group Plc, LeoVegas AB, and MGM Resorts International.
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