DUBLIN--(BUSINESS WIRE)--The "Online Gambling Market Size, Share & Trends Analysis Report by Type (Sports Betting, Casinos, Poker, Bingo), by Device (Desktop, Mobile), by Region (North America, Europe, APAC, Latin America, MEA), and Segment Forecasts, 2020 - 2027" report has been added to ResearchAndMarkets.com's offering.
The global online gambling market size is expected to reach USD 127.3 billion by 2027, registering a CAGR of 11.5% from 2020 to 2027. The market is expected to gain traction over the forecast period. The growing popularity of betting across the globe and freemium model in online gambling are among the potential opportunities likely to unfold in the next few years.
Increasing adoption of smartphones and easy access to casino gaming platforms is currently driving the market. Factors such as increasing internet penetration and the availability of cost-effective mobile applications for betting are also expected to contribute to market growth over the forecast period. According to the American Gaming Association (AGA), as of 2018, approximately 2,800 sites are active online and offer activities including bingo, poker, and lottery.
Electronic Gambling Devices (EGDs) are inexpensive to run and easily available. These devices have an in-built software that mimics the experience of a local casino. For instance, a Video Lottery Terminal (VLT) uses advancing technology and can also be customized to electronic slot machines, spinning reel slot machines, video slot machines, and electronic poker games.
The spread of COVID19 has accelerated the demand for online gambling. Moreover, increasing digitalization coupled with secure digital payment options are also some factors contributing to online gambling market growth. The market is further expected to gain momentum over the forecast period attributed to the rising use of digital currency and websites provided by companies for betting and gambling.
Companies Mentioned
- William Hill PLC
- Bet365 Group Ltd.
- Paddy Power Betfair PLC
- Betsson AB
- Ladbrokes Coral Group PLC
- The Stars Group Inc.
- 888 Holdings PLC
- Sky Betting & Gaming
- Kindred Group PLC
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GVC Holdings PLC
Further key findings from the report suggest:
- Ease of sports betting using a computer or smartphone coupled with the proliferation of sports betting ads across the globe is expected to propel segment growth over the forecast period
- Online gambling service providers/operators are allowed to enter into agreements with individual players or customers to provide betting services for real money, in turn attracting more gamers
- A large number of customers are using desktops for betting as downloading and installing casino software proves to be easier on desktops. This, in turn, is expected to propel the growth of the desktop segment
- Online agencies, networks and exchanges, and third-party ad servers are used for advertising gambling websites of various companies
- Europe is expected to continue its dominance over the forecast period. In the U.K., online gambling is legalized owing to safe practices and stringent regulations laid down by the government
- Asia Pacific is anticipated to register the highest growth rate owing to the increased adoption of smartphones, a larger proportion of younger population, and legalization of online gambling in the region. The market size is largely influenced by the size of betting and pertinent outcome
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Key companies in the online gambling market include William Hill PLC and Paddy Power Betfair PLC.
Key Topics Covered:
1. Methodology and Scope
2. Executive Summary
2.1 Online Gambling Market - Industry Snapshot & Key Buying Criteria, 2016 - 2027
2.2 Global Online Gambling Market, 2016 - 2027
3. Online Gambling Industry Outlook
3.1 Market Segmentation & Scope
3.2 Market Size and Growth Prospects
3.3 Online Gambling - Value Chain Analysis
3.3.1 Vendor landscape
3.4 Online Gambling Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Increasing investment in online gambling
3.4.1.2 Growing number of live casinos across the globe
3.4.2 Market restraint analysis
3.4.2.1 Increasing rate of cybercrimes
3.5 Penetration and Growth Prospect Mapping
3.6 Online Gambling Market - Porter's Five Forces Analysis
3.7 Online Gambling Market - Key Company Market Share Analysis, 2019
3.8 Online Gambling Market - PESTEL Analysis
3.9 Impact of COVID 19 on the Online Gambling Market
4. Online Gambling Type Outlook
4.1 Online Gambling Market Share By Type, 2019
4.2 Sports Betting
4.3 Casinos
4.4 Poker
4.5 Bingo
4.6 Others
5. Online Gambling Device Outlook
5.1 Online Gambling Market Share By Device, 2019
5.2 Desktop
5.2.1 Desktop online gambling market, 2016 - 2027
5.3 Mobile
5.3.1 Online mobile gambling market, 2016 - 2027
5.4 Others
5.4.1 Other device for online gambling market, 2016 - 2027
6. Online Gambling Regional Outlook
6.1 Online Gambling Market Share by Region, 2019
6.2 North America
6.3 Europe
6.4 Asia Pacific
6.5 Latin America
6.6 MEA
7. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/fd6sp2.
