Market Research Future Insights
According to MRFR analysis, the global Online gambling market is expected to register a CAGR of 9.83% from 2024 to 2032 and hold a value of over USD 172.5 Billion by 2032.
Online gambling refers to the practice of placing bets or wagering on games or sports events over the internet using electronic devices such as computers, smartphones, or tablets. The COVID-19 pandemic had a significant impact on the online gambling market. The widespread lockdowns and social distancing measures forced people to stay indoors, which led to an increase in demand for online entertainment options, including online gambling. The closure of land-based casinos and sports events also drove people to shift their gambling activities to online platforms.
Regional Analysis
In terms of regional analysis, the Asia Pacific region is expected to witness the highest growth rate during the forecast period, owing to the increasing popularity of online gambling in countries like China, Japan, and India. The region is also witnessing a rise in disposable income and internet penetration rates, which is further driving the growth of the online gambling market.
Europe is currently the largest market for online gambling, accounting for over 40% of the global market share. The region has a well-established regulatory framework for online gambling, and the high demand for online sports betting is also driving the growth of the market.
North America is another significant market for online gambling, primarily driven by the increasing legalization of online gambling in the region. The US Supreme Court's decision to strike down the Professional and Amateur Sports Protection Act (PASPA) in 2018 paved the way for states to legalize online sports betting.
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Market Segmentation
The Global Online gambling market has been segmented into type and end-user.
Based on Type: Online bingo, Betting, Lottery, Casino and Poker
Based on End-User: Dabblers, Gambling enthusiasts, and Social exuberant
Major Market Players
Some of the top key market players are VGC Holdings PLC, William Hill PLC Kindred Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming Betsson AB 888 Holdings PLC, The Stars Group, Inc. and Ladbrokes Coral Group PLC.
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