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The global online gambling market size was valued at US$ 66.7 Billion in 2020.
According to the estimates by IMARC Group, the global online gambling market is expected to witness strong growth during 2021-2026.
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, desktop 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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