Global Online Gambling and Betting Market: Snapshot
The global online gambling and betting market is primarily being driven by an increasing adoption of high-speed internet services in mobile devices. The overall demand for live streaming of sports and games videos through online portals and mobile devices is growing at a very high rate and provides players from the global online gambling and betting market the opportunity to integrate their betting services into live streams directly, further enhancing the growth rate of the market. Currently, the global online gambling and betting market comprises players that primarily providing online gambling and betting platforms and gaming solutions. Meanwhile, progress is being made into developing comprehensive online gambling and betting solutions that allow for better user interface and interactions, and provide an enhanced user experience.
The global online gambling and betting market is expected to reach US$96.89 bn by the end of 2024. The market is projected to expand at a CAGR of 10.8% from 2016 to 2024. By the end of 2016, the global online gambling and betting market is expected to reach US$42.63 bn.
Europe Reigns Supreme in Provision of Online Betting and Gambling Platforms
From a regional perspective, Europe held the leading share in the global online gambling and betting market in terms of revenue for 2015. This region in marked by the presence of a large number of online operators for gambling and betting, and several of its countries hold favorable regulatory environments conducive to the growth of the market. The U.K. is especially expected to play a key role the European market, followed by Malta. Additionally, Asia Pacific is expected to contribute a steady revenue stream in the global online gambling and betting market over the coming years, due to a growing demand for online betting and gambling portals and the easing up of regulatory norms for these online portals. The market for global gambling and betting in Asia Pacific is expected to expand at a CAGR of 12.9% in terms of revenue, from 2016 to 2024.
Conversely, a heavy restriction on online gambling and betting in the U.S. has resulted in a severe loss for market players in North America. This region is expected grow at a much slower pace than others. Over the coming years, the relaxation of stiff regulations for online betting and gambling is expected to result in an upswing in their demand in states such as Nevada, Delaware and New Jersey. The Middle East & Africa (MEA) region and South American countries are expected to contribute very low revenue to the global online gambling and betting market for the foreseeable future.
Online Casino Services Show High Revenue Generation
Based on the types of games, casino services segment held the leading share in the global online gambling and betting market – a hefty 26.4% of its revenue – in 2015. On the other hand, sports betting is expected to surge over the coming years due to a higher rate of adoption of live sports betting by multiple players. Online Lottery and poker are also likely to be potentially beneficial to the overall market’s growth rate. A large number of users are showing a demand for better gaming experience and also hold higher disposable incomes to spend.
Gambling and betting operators are currently evolving with the adoption of online platforms and their preference over traditional, physical operations. In 2015, the global online gambling and betting market was dominated by key names that included NetEnt AB, 888 Holdings PLC, GVC Holdings PLC, Fortuna Entertainment Group, Ladbrokes Coral Group PLC, William Hill PLC, Playtech PLC, Amaya, Inc., Kindred PLC, and Paddy Power Betfair PLC.
Global Online Gambling and Betting Market: Overview
Online gambling and betting consists of operators providing gambling and betting games such as poker, casino, sports betting, lottery and other games to end-user through digital environment. This helps end-users to witness gambling and betting activities in real-time through their mobile and other electronic devices. The demand for online gambling and betting is expected to increase in the coming years owing to the growing ease in regulatory norms by various countries globally. The adoption of online gambling by a number of traditional or land-based market operators in the Europe and Asia Pacific regions is expected to increase the adoption of online gambling and betting solutions.
This research report provides an in-depth analysis of the global online gambling and betting market based on game type and geography. The global online gambling and betting market is categorized based on game types into poker, casino, social gaming, lottery, bingo, sports betting and fantasy sports. The report analyzes each of these segments for the various geographies considered under the scope of the study.
Global Online Gambling and Betting Market: Geographical Assessment
Based on geographical regions, the report segments the global online gambling and betting market into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and South America, which are analyzed in terms of revenue generation. North America is further segmented into the U.S., Canada and Rest of North America, while Europe is divided into the U.K., Malta, Gibraltar, France, Spain, Italy, Germany and Rest of Europe. Asia Pacific is subdivided into China, Japan, Australia, Philippines and Rest of Asia Pacific. Also, MEA is further segmented into South Africa, Nigeria and Rest of MEA, while South America is subdivided into Brazil and Rest of South America. The market revenue for Isle of Man is considered under the U.K. in the report.
Global Online Gambling and Betting Market: Scope of the Study
The report also provides an analysis of the factors that drive and restrain the growth of the online gambling and betting market. It discusses the prevailing market trends, prospective growth opportunities, and major strategies increasing the popularity of the global online gambling and betting market. It provides market estimates and forecasts for all the segments in terms of revenue. Also provided in the report is the market positioning of key players and competition matrix for each player. The report also provides industry evolution and Porter’s Five Forces Analysis for the global online gambling and betting market.
Major business strategies adopted by key players, their SWOT analysis, and financial information have also been identified in the research report. The key market players profiled in this study include NetEnt AB, GVC Holdings Plc, 888 Holdings plc, Ladbrokes Coral Group Plc, Fortuna Entertainment Group, Playtech Plc, William Hill plc, Kindred Plc, Amaya Inc and Paddy Power Betfair Plc.
Global Online Gambling and Betting Market
By Game Type
- Social Gaming
- Sports Betting
- Fantasy Sports
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Middle East and Africa
- South Africa
- South America