Global Online Gambling Market Set to Exceed $179 Billion by 2028, Fueled by Technological Advancements and Demand - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Online Gambling Market Outlook, 2028" report has been added to ResearchAndMarkets.com's offering.

The global online gambling market is on an upward trajectory, with an anticipated size surpassing USD 179 Billion, a substantial increase from USD 94.17 Billion in 2022, according to this research report.

Technological Innovations and Increased Investment Drive Growth

A significant boost in the online gambling market can be attributed to the growing demand for cost-effective payment mechanisms. The introduction of virtual and augmented reality is another key driver pushing investments in online gambling. The market is ripe with investment opportunities, attracting professional players to invest in sports betting and stocks of prominent online gambling companies.

Shift from Traditional to Online Casinos

The preference for online live casinos over traditional land-based casinos, especially in regions where both options are legal, is a catalyst for market growth. The migration of players from traditional to online gambling is creating profitable prospects for online casino operators. Players favor live casinos for their real-time engagement, live dealer interactions, and convenience, allowing games to be played anywhere and at any time.

Regional Insights and Growth Patterns

The global online gambling market is geographically segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Europe has taken the lead in 2022, capturing over 40% of the market share, followed by North America and Asia-Pacific. North America is projected to witness the highest CAGR during the forecast period, followed by South America and Asia-Pacific. The relaxation of restrictions on online gambling, coupled with increased internet access, is expected to drive market growth in Asia-Pacific, particularly in countries such as China, India, and Japan.

Segmented Market Opportunities

The market can be categorized into segments such as sports betting, casinos, poker, bingo, and lottery. Poker is predicted to lead the market growth during the forecast period. Although the sports betting segment held the largest share of the market in 2022, the poker segment is expected to grow at a faster rate due to its popularity among virtual card game enthusiasts. The convenience of digital platforms, diverse payment options, and a wide range of online poker games contribute to the segment's robust growth.

Mobile Devices Emerge as Market Leaders

The market segmentation based on device type includes mobile devices (phones and tablets) and desktop. Mobile devices claimed the major market share in 2022 and are poised to maintain their dominance throughout the forecast period. Mobile devices offer portability, ease of use, and uninterrupted access to online gambling services. The increasing affordability of mobile devices has further fueled their adoption, providing more individuals with access to online gambling services.

Recent Industry Developments

• Gambling.com Group Limited plans to offer marketing services to licensed online sports betting operators in Kansas.
• Aristocrat announced the launch of an online gaming division to oversee the online RMG space.
• BetMGM partnered with Carnival Corporation to provide passengers on cruise ships with mobile sports betting and online gambling experiences.
• Entain plc announced a partnership with EMMA capital to launch Entain CEE and expand in Central and Eastern Europe.

Top Profiled Companies

• Bally's Corporation
• Betsson AB
• Entain Plc
• Firekeepers Casino
• Churchill Downs Incorporated
• Kindred Group plc
• The Stars Group
• Sportech PLC
• 888 Holdings Plc
• Sportpesa
• MGM Resorts International
• 1XBet
• Cherry Spelgladje AB
• Galaxy Entertainment Group
• Intralot S.A.
• Leovegas Mobile Gaming Group
• Flutter Entertainment plc
• Bet365 Group Ltd
• Betfred Group Limited
• The Rank Group

For more information about this report visit https://www.researchandmarkets.com/r/wle2e4

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