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Increasing Popularity of Online Betting and Gambling Fosters Growth in Online Gambling and Betting Market

Consumer Goods |

According to the research report published by the Transparency Market Research, the increasing popularity of online betting and gambling can be attributed to the constant and considerable advancements in the field of online marketing. This trend is expected to fuel demand in the global online gambling and betting market in coming years. The research report by the Transparency Market Research also projects that the global online gambling and betting market will reach the evaluation of US$ 134.5 billion at the end of the forecast period of 2019 to 2027, i.e. 2027.

Rising adoption of various new age technologies as well as increasing usage of internet all over the world are creating interesting and new opportunities in the global online gambling and betting market in coming years. Furthermore, the COVID-19 pandemic and subsequent lockdowns have also given opportunities for the players in the global online gambling and betting market to explore further into the digital domain. Rising popularity of online poker as well as online rummy across the internet has also benefitted the development of the global online gambling and betting market.

Increasing pool of conusmers, attracted towards online gambling channels as means to earn money are also boosting the demand in global online gambling and betting market in recent times. Moreover, increasing commercialization of sports industry over the past few decades has also provided the players in the global online gambling and betting market will various new and attractive opportunities.

pr online gambling betting market

Sports Betting Segment to Lead the Online Gambling and Betting Market in Near Future

Segments in the global online gambling and betting market based on the type of games include poker, social gaming, bingo, fantasy sports, casino, lottery, and sports betting. Among these, the sports betting segment is likely to witness significant expansion in global online gambling and betting market during the forecast period. This trend can be attributed to rising number of sports followers. Another segments likely to expand at a considerable rate owing to rising participation of consumers include online poker as well as online casinos.

Segments in the global online gambling and betting market according to the type of device are desktop, tablet, and mobile. The desktop segment dominated the global online gambling and betting market in 2018. However, among the above mentioned segments, the mobile segment is expected to witness significant growth rate i.e. 16 % during the forecast period in global online gambling and betting market. This trend can be attributed to the rising number of population using internet services through their mobile and smart phones.

Asia Pacific to Emerge as Attractive Region in Online Gambling and Betting Market in Near Future

Key regions evaluated in the business intelligence report on the global online gambling and betting market include Europe, Asia Pacific, North America, South America, and Middle East and Africa. Regionally, Europe lead the global online gambling and betting market in 2018. However, in coming years, Asia Pacific is expected to emerge as an attractive region for the global online gambling and betting market. This trend can be attributed to rising number of regional conusmers, including a massive share of young individuals, participating in services provided by the players in global online gambling and betting market.

Few of the major and leading players functional within the global online gambling and betting market include 888 Holdings PLC, Kindred Group, The Stars Group, Betfred Ltd., Fortuna Entertainment Group, The Betway Group, Paddy Power Betfair PLC, BETSSON AB, GVC Holdings PLC, and William Hill PLC. Players and service providers in the global online gambling and betting market are engaging their resources in a bid to shift their business models and update their existing systems with regulations and demands.

The global online gambling & betting market has been segmented as below:

By Gaming Type

  • Poker
  • Casino
  • Social Gaming
  • Lottery
  • Bingo
  • Sports Betting
  • Fantasy Sports

By Device Type

  • Desktop
  • Mobile
  • Tab

By Geography

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

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