Casino and online gambling sector market size worldwide 2022

It is gambling on different games such as casinos or sports over the internet. Some of the common games in the market include poker, bingo, lotteries, roulette, slots, and keno. Online gambling and betting have perceived reflective propagation over the past 8-10 years. The easy availability of these games and the temptation of easy money are the leading factors fueling the overall online gambling and betting market growth.

Based on game, the online gambling market is segmented into betting, casino, poker, lottery, bingo, and other games. Due to the growing popularity of sports tournaments worldwide, betting represented the largest segment. The increasing awareness of e-sports and the rise of live-streaming platforms have had a significant impact on the demand for betting. The growing popularity of sporting events, https://boo-casino.co.nz such as football and cricket, and the high stakes of monetary involvement are major factors attracting many gamblers to this segment. The increasing penetration of the internet and the population’s growing understanding of online gaming sites and applications are driving segment revenue. The segment could expand even further with the growing collaborations among market participants.

Nowadays, a large portion of the global population has access to the Internet. The number of internet users worldwide was 5,300 million in 2022, according to the International Telecommunication Union (ITU). This represents one of the primary factors behind the immense popularity of online gambling services worldwide. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience. To meet different player interests, online gambling platforms provide various games, such as slots, poker, and sports betting.

  • Asia Pacific online gambling market share is forecast to exceed USD 50 billion by 2026.
  • This trend is expected to continue, particularly as the COVID-19 pandemic has caused a surge in online gambling as people have been spending more time at home.
  • Around 19% – 28% of online gamblers find it more convenient to spend money on online gambling platforms than in physical gambling facilities.
  • This includes sports betting (football, horse racing, e-sports, and others), casino (live casino, baccarat, blackjack, poker, slots, and others), and others.
  • Additionally, it has encouraged numerous leading players to heavily invest in advanced technologies to provide an immersive experience to users.

Central and Western Europe combine for the biggest online gambling revenue among all continents, at $28.77 billion. The legalization of online betting in many parts of the world also contributes to the growth of the user base. In the US, more and more states are issuing regulations to legalize online bets.

Online Gambling Industry Overview

There is no living soul that can think of a casino and not relate it to Las Vegas. Just as it happens in other countries, its states are free to legislate and regulate most of what is linked to gambling. Mobile gambling is possible through the simple access of websites through a browser or via apps located in official stores or with a downloadable APK.

Exploring the Facts and Figures Behind Online Gamblers’ Demographics

This growth can be attributed to the increasing smartphone and internet penetration globally. Growth Drivers
The changing legislative framework for virtual betting and the legalization of the market across emerging nations is anticipated to drive industry growth. For instance, online gambling has recently been made legal in Goa and Sikkim.

How are betting games influencing the online gambling industry?

Users are now using online casinos and other websites to gamble on non-traditional sports and events. Additionally, it has encouraged numerous leading players to heavily invest in advanced technologies to provide an immersive experience to users. Online gambling is typically betting on casino or sports-type games over the internet. The online gambling market is segmented by game type, end user, and geography. Based on game type the market is segmented into sports betting, casino, lottery, and bingo. Sports betting is further segmented into football, horse racing, tennis, and other sports. Casino segment is further segmented into live casino, baccarat, blackjack, poker, slots, and others casino games.

The increasing preference of gamblers to online payment mode owing to a growing trust in online payment options. Increasing the use of mobile phones, high internet penetration is driving market growth in various regions. Increasing investment of major players in backward integration and the software & technology in order to strengthen its presence is driving the market growth. The regulation imposed by the government can create restraints in the online gambling and betting market. In addition, increasing Internet penetration and rising usage of mobile phones among individuals are other key factors driving revenue growth of the market.

We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. Additionally, North America is anticipated to witness progressive growth over the coming years. The rising regularization of the industry across various countries in the region is anticipated to drive industry growth. In the U.S., the legislative framework at present only allows licensed bookmakers in New Jersey, Nevada, and Pennsylvania to operate legally, as betting is regulated in these states.

What are the most popular types of online gambling in the U.S.?

The online casino industry had around 84 million in 2022, which increased by 12% to 94.1 million by the end of 2023. Eesti Loto is the country’s top online lottery retailer, garnering around 1.25 million visits (55.61% MoM growth) in October 2023, 1.14 million of which are from mobile phone users. Denmark’s online gambling scene was the biggest earner among the segmentations, bringing in DKK2.88 billion. The country was responsible for generating an estimated 11.4% of Europe’s total online wager spending in 2019. France ranks 5th in Europe concerning bettors that have tried and prefer online gambling over offline.

Moreover, Canada is mostly an unregulated country when it comes to online gambling. Additionally, authorities in Mexico are aiming to regulate its online gambling sector. The rising demand of consumers towards gaining profits in a short time is one of the primary reasons that is boosting the United States online gambling market. Furthermore, gamers in the country are often considered digital natives and are generally considered to rely heavily on technology. Currently, New Jersey is the largest market for regulated online gambling in the United States.

Global Gambling Industry Statistics

Experts foresee the Russian online sports betting market to increase by over 173% between 2018 and 2026, looming to generate around $613.5 million by the end of the forecast period. While India continues to grow as a market in the online gaming space, the high valuation of taxation which is 28% on the full face value of deposits has led to a slowdown in the market. As per the EY report, India levies the highest tax globally on the online William Hill Vegas Casino gaming space which is 28% on deposits followed by Poland at 12% and 8% for Portugal. Additionally, the report indicates that the industry stakeholders’ unit economics have been impacted by the GST amendment, bringing down profitability, and affecting investor sentiment. Furthermore, online betting platforms continue to be rampant in India making it hard for RMG platforms as the different classifications are constantly muddled.