Global Gambling Market Size 2018
In 2018, the global Online Gambling and Betting market size was xx million US$ and it is expected to reach xx million US$ by the end of 2025, with a CAGR of xx% during 2019-2025. This report focuses on the global Online Gambling and Betting status, future forecast, growth opportunity, key market and key players. This statistic depicts the size of the online gambling market worldwide from 2012 to 2018, by region. The European gambling market was forecast to reach a size of 24.75 billion U.S. Global Online Gambling and Betting Market Research Report 2018 Opportunities, Size, Cost Structure, Service Provider, Segmentation, Shares, Forecast to 2024 Inquiry for Buying Name.
- Global Gambling Market Size 2018 Printable
- Global Gambling Market Size 2018 Monthly
- Global Gambling Market Size 2018 Calendar
The analysis of the global gambling market provides market size and growth rate for the forecast period 2018-2023. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global gambling market. Global games market value rising to $134.9bn in 2018 Revenues grew by over 10%, mobile accounts for almost half at $63.2 billion.
New York, NY, Sept. 19, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Online Gambling & Betting Market by Game Form (Poker, Casino, Sports Betting, Bingo, Lottery, Horse Racing Betting, and Others) and by Component (Hardware, Software, and Service): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024”. According to the report, the global online gambling & betting market accounted for USD 45.8 billion in 2017 and is expected to reach USD 94.4 billion globally by 2024, growing at a CAGR of around 10.9% between 2018 and 2024.
Online gambling & betting is a form of gambling that is played by means of computer, mobile, laptop, and tablet through the internet. Online gambling and betting games can be accessed at any time & place. The games include poker, blackjack, roulette, bingo, sports, & race betting.
Browse through 41 Tables & 24 Figures spread over 118 Pages and in-depth TOC on “Global Online Gambling and Betting Market Size & Statistics 2017: Industry Trends, Growth Forecast up to 2024”.
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The rise of cryptocurrencies in the past few years is projected to fuel the growth of online gambling & betting market. Cryptocurrencies have started to gain popularity due to benefits over other traditional funding methods. Gambling with cryptocurrencies does not require legalization as real money is not used. Bitcoin was the first cryptocurrency used for payments by various online gambling platforms. At the beginning of 2017, the total value of cryptocurrencies was about USD 17.7 billion and is projected to rise over the next 5 years. Thus, the usage of cryptocurrencies in online gambling is anticipated to rise during the estimated timeframe.
Adoption of Virtual Reality (VR) headsets in online gambling is projected to drive the online gambling & betting market. VR headsets provide a better experience for gambling and it is observed that online gambling sites are opting for this technology. As of now, there are games available in VR such as blackjack and roulette. The global AR/VR shipments in the second quarter of 2017 witnessed a growth of about 25% as that of the same period in 2016. Thus, usage of VR in online gambling is anticipated to propel the online gambling and betting market over the forecast period.
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The global online gambling & betting market is divided as per component into hardware, software, and service. Software segment is anticipated to dominate the online gambling & betting market during the projected timeframe. This share is due to the availability of various online payment options. Further, the online gambling & betting market is divided on the basis of game form into poker, casino, sports betting, bingo, lottery, horse race betting, and others. Poker segment is expected to hold a notable share during the forecast period.
North America is expected to grow at a significant rate in the global online gambling & betting market since it is the most technologically developed region. The U.S. is projected to be a major contributor in the region. The growth is projected due to the increasing usage of VR in the gaming sector. Online gambling is expected to hold a notable share in the U.S. gaming sector. In 2016, the gaming sector contributed to almost 50% in revenue generation of the U.S. media and entertainment industry. Due to the rising demand for VR in gambling applications, the growth of this sector is imminent. Since VR headsets are used in online gambling & betting, the market in this region will witness a substantial growth in the near future.
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Europe is anticipated to hold a considerable share in the global online gambling & betting market. The share is attributed to the legalization of online gambling and betting in various European countries. The UK was one of the first nations to legalize online gambling. In 2015, online gambling accounted for almost 33% of the overall gambling in the UK. The number is anticipated to rise owing to the increasing revenue of online gambling sites in the country. In 2017, the overall revenue generated by these sites was almost 10% more than that of 2016 in the UK. Further, legalization of online gambling in Italy, France, Spain, and Malta with proposals being made for the same in the Netherlands, Germany, and other European nations is expected to fuel online gambling & betting market in the region. Thus, European online gambling & betting market is anticipated to propel in the estimated timeframe.
The Asia Pacific is expected to notice a substantial growth in global online gambling & betting market over the estimated timeframe. Online gambling in China is permitted in Hong Kong. The Hong Kong Jockey Club offers online betting for sports, racing, and lottery. Currently, about 34% of the overall betting in Australia was through the internet as compared to 15.7% in 2012. The growth is due to the increase in betting by smartphones. As of now, about 22% of Australian bettors use smartphones for betting as compared to a mere 5.5% in 2012. Thus, it is anticipated that the Asia Pacific will witness significant growth in the online gambling & betting market.
Browse the full 'Online Gambling & Betting Market by Game Form (Poker, Casino, Sports Betting, Bingo, Lottery, Horse Racing Betting, and Others) and by Component (Hardware, Software, and Service): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024' report at https://www.zionmarketresearch.com/report/online-gambling-betting-market
Latin America will contribute substantially to the growth of global online gambling & betting market over the forecast timeframe. There is no central law in Argentina to govern gambling. Gambling is regulated by individual provinces. The African region is expected to have a significant share in the online gambling & betting market. Online sports betting in South Africa, Nigeria, and Ghana will contribute to the payment systems developed by the local firms.
Global Gambling Market Size 2018 Printable
Key players in the online gambling & betting market are report Bet365 Group Ltd., Betfred Ltd., 888 Holdings plc, Paddy Power Betfair Plc, GVC Holdings Plc, Fortuna Entertainment Group, The Stars Group, The Betway Group, William Hill Plc, Kindred Group, Rank Group, Playtech, William Hill Plc, Hong Kong Jockey Club, and mybet Holding, among others.
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The report segments the global online gambling & betting market as follows:
Global Online Gambling & Betting Market: Game Form Segment Analysis
- Poker
- Casino
- Sports Betting
- Bingo
- Lottery
- Horse Race Betting
- Others
Global Online Gambling & Betting Market: Component Segment Analysis
- Hardware
- Software
- Service
Global Online Gambling & Betting Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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Global Gambling Market 2018-2022
About Gambling
To calculate the market size, the report considers the revenue generated from type of gambling such as lottery, betting, and casino. In addition, we have segmented the market based on the sale of gambling types using offline and online platforms, wherein devices such as mobile and desktop are considered under the online platform.
Technavio’s analysts forecast the global gambling market to grow at a CAGR of 8.45% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global gambling market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA
Key vendors
- 888 Holdings
- Camelot Group
- Galaxy Entertainment Group
- INTRALOT
- MGM Resorts
- New York State Lottery
- Paddy Power Betfair
- Contribution towards economy
- For a full, detailed list, view our report
- High risk factors
- For a full, detailed list, view our report
Market trend - Introduction of Bitcoin gambling
- For a full, detailed list, view our report
Global Gambling Market Size 2018 Calendar
- What will the market size be in 2022 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
Press Release
Technavio Announces the Publication of its Research Report – Global Gambling Market 2018-2022
Technavio recognizes the following companies as the key players in the global gambling market: 888 Holdings, Camelot Group, Galaxy Entertainment Group, INTRALOT, MGM Resorts, New York State Lottery, and Paddy Power Betfair.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of Bitcoin gambling. Bitcoin is a type of cryptocurrency that allows peer-to-peer payments to take place on the Internet. With the growing popularity of bitcoins, many gambling vendors are providing gambling using bitcoins. This is due to the advantages which the cryptocurrency has over regular currency. One of the key benefits is that of cross-border transactions.”
According to the report, one driver in the market is contribution towards economy. Gambling industry plays a prominent part towards the economy. For instance, the US alone accounted for 0.91% of the US GDP in 2017. The lottery market alone has a considerable potential to create job opportunities. Also, legalizing more number of the online and offline gambling will further fetch higher jobs to the seekers. Further, the industry is amongst the most diverse sector and attracts high foreign investments.
Further, the report states that one challenge in the market is high risk factors. One of the major factors hindering the growth and expansion of the gambling market is the huge risk involved in running the business, though profit margins are high. As the profit margins are high, gambling market attracts the entry of both; legal and illegal gambling business. However, high-risk factor limits the legalization and expansion of the market in different countries and sometimes in different states of the countries.
Companies Mentioned
888 Holdings, Camelot Group, Galaxy Entertainment Group, INTRALOT, MGM Resorts, New York State Lottery, and Paddy Power Betfair.