The latest report by IMARC Group, titled “Europe Online Gambling Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the Europe online gambling market size reached US$ 34.6 Billion in 2021. Online gambling, also known as virtual gambling, refers to the activity of placing bets on casinos and other sports-based activities through the internet. It does not require a physical interaction of players as the sessions are conducted via computer programs and software. It primarily includes games like sports betting, blackjack, poker, roulette, and slot machines, which can be accessed through a website or downloaded on the user’s computer. At present, online gambling is gaining traction across Europe as it offers multiple benefits, including a customizable budget, cashless transactions, accessibility through electronic devices, and a real-time gambling experience.
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.
Europe Online Gambling Market Trends:
The market is primarily driven by the increasing penetration of high-speed internet across the region. In addition, the surging sales of smart devices, such as personal computers (PCs), smartphones, laptops, and tablets, represent another major growth-inducing factor. Besides this, online gambling has been legalized in Europe, which is influencing the number of individuals placing bets on their preferred sports online. This, coupled with the sudden outbreak of the coronavirus disease (COVID-19) pandemic and consequent lockdown restrictions imposed by governments of several countries, has escalated the number of visitors to gambling and casino websites. Moreover, the increasing mergers and acquisitions (M&As) conducted by the leading market players to widen their market reach and the rising disposable incomes of individuals are also creating a positive market outlook. Looking forward, IMARC Group expects the market value to reach US$ 56.8 Billion by 2027, exhibiting a CAGR of 7.9% during the forecast period (2022-2027).
- Based on the game type, the market has been categorized into sports betting (football, horse racing, e-sports, and others), casino (live casino, baccarat, blackjack, poker, slots, and others), and others.
- On the basis of the device, the market has been segregated into desktop, mobile, and others.
- On the geographical front, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the market has been examined in the report, with detailed profiles of key players operating in the industry.
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