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, 2022 - 2030

Report Overview

The global online gambling market size was valued at USD 57.54 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 11.7% % from 2022 to 2030. The increasing use of mobile phones among users for playing online games in public places as well as in their homes, in addition to rising internet penetration, is propelling the market. Furthermore, aspects such as cultural and legal approval, easy access to gambling online, celebrity endorsements, and corporate sponsorships are also boosting the market growth. The market is likely to further expand owing to the availability of cost-effective mobile applications worldwide.

The internet has become a universal medium for communication and facilitates merchants to provide their offerings in the digital marketplace. Due to increasing smartphone and internet penetration, the consumption of services on virtual platforms has increased. For instance, Bangladesh has experienced an internet growth of more than 93% from 2000 to 2021, providing various opportunities for business in Bangladesh. The rising use of the internet has enabled online casinos to flourish. Moreover, factors like the increasing number of online gambling applications, online betting offers, and a rise in the disposable income of consumers are likely to encourage market expansion.

Improvements in the digital space are concurrent with the annual expansion of online casinos, and these improvements are intended to obtain the desired trust in the online betting sector. For instance, virtual reality (VR) in gambling generates the simulation of surroundings; users can interact with them in a real way with special equipment like gloves with sensors. VR lets gamblers interact with other bettors and dealers and offers a more realistic gambling experience, better sound quality, and a realistic game design. VR has helped the market improve the gambling experience by creating growth opportunities.

Online casinos emphasize developing information solutions that support and assist gamblers, safeguard the authenticity of gambling activities, and prevent fraudulent activities. Various online gambling sites offer a free-play version of their games, creating growth potential for the business. 

Gambling has been legalized by various countries globally owing to employment opportunities and more tax revenue for local and state governments. Gambling has also positively impacted local retail sales for the hospitality sector in the areas where casinos act as a part of tourist vacation, consequently propelling the growth of the market rapidly.

Furthermore, the integration of blockchain technology has also affected market growth positively. The blockchain can make secure payments ensuring transparency in gambling activity. Gambling through cryptocurrency offers vast opportunities as they are fast and safe transactions. Owing to fewer restrictions imposed on cryptocurrency transactions, they are now heavily used in online gambling.

In contrast, cybercrime in the industry is increasing. Signal manipulation through phony applications and software hacking are some of the significant risks challenging the market growth. The online gaming business is also experiencing a growing risk of app-based theft. Furthermore, compulsive gambling can harm personal relationships and an individual’s health, resulting in depression or debts.

COVID-19 Impact Insights

The COVID-19 pandemic challenged the growth of the market. The lockdown and social distancing regulations imposed by the various countries and governments have affected land-based casino operations. Several land-based gambling venues such as bingo halls, casinos, clubs, bars, horseracing tracks with electronic gambling machines (EGMs), betting shops, poker rooms, and lottery retailers were forced to close. Multiple gambling market players shifted towards online gambling due to the lockdown. Attributing to more free time and boredom, considerable people turned towards online gambling. With the cancellation and postponement of significant sports events, gambling activities on online platforms declined. However, post COVID-19, the industry is experiencing a surge in online gambling due to ease in lockdown restrictions and resumption of live sports events worldwide.

Type Insights

The market has been segmented into casinos, sports betting, bingo, poker, and others, with the sports betting segment, dominating the market with a revenue share of approximately 50% in 2021. Rising popularity of sports betting gambling on games such as football, and casino, coupled with increased internet penetration, has fueled the market growth in Europe. The collaboration between third-party software suppliers and private firms to produce user-friendly UI gaming solutions for users has resulted in a market expansion.

Device Insights

In terms of devices, the desktop segment generated a significant revenue of approximately USD 28 billion in 2021. The desktop offers a large screen size compared to mobile phones and other devices that allow the gamblers to enjoy the details and graphics of the game. Moreover, the performance features offered by desktops, such as sound volume, picture quality, and customizable storage capacity of desktops, provide an improved gaming experience. These aspects have resulted in the growth of the desktop segment.

Advanced technologies in mobile phones have resulted in extraordinary gaming visuals in smartphones that have resulted in increased access to online gambling through mobile phones. Additionally, gambling can be done through mobile phones, making it convenient for gamblers. The easy availability of mobile phones at affordable prices and advanced features such as improved graphics and extended storage capacity contribute to the segment growth. Mobile online gambling offers several advantages to gamers, such as loyalty points, additional deposit options, and multiplayer gaming options with the players located anywhere throughout the globe.

Regional Insights

Europe dominated the market in 2021 with a market size of USD 23.63 billion. The development can be ascribed to the legalization of gambling in various European countries, including Italy, Malta, France, Spain, and Germany. Other drivers for the market growth include the availability of high-speed internet, the rising popularity of online casinos, and the rising use of smartphones. Furthermore, the Gambling Act 2005 imposed by the UKGC (U.K. Gambling Commission) has enabled companies to promote their gambling websites, which also assists in expanding the market in the region.

However, the increased use of internet services and modification of restrictions related to online gambling and betting is anticipated to promote the development of the market in the Asia Pacific region over the forecast period. The increasing number of Esports and other sporting events in the Asia Pacific region has fueled the market's growth. The region is expected to grow with approximately 13% CAGR over the forecasted period. The increased dependency on mobile phones for entertainment and the increasing number of internet users drive the region's growth. Countries like India and China are emerging into the market due to technological advancements in the gaming industry, high-speed networks, and affordable and easy access to internet data.

Furthermore, the adoption of bitcoins has contributed to increased cryptocurrency usage for gambling in the region. Increasing spending on leisure activities, combined with the high economic growth of the Asia Pacific region, is anticipated to fuel market growth throughout the forecast period. China, India, and Japan are the region's major revenue-generating countries. 

Key Companies & Market Share Insights

Leading players in the online gambling market are focused on continuous innovations to differentiate and personalize their product offerings for potential users. Mergers and acquisitions, product launches, and partnerships are the primary methods these companies adopt to establish and compete in the gambling market.

For instance, in August 2021, DraftKings Inc. acquired Golden Nugget Online Gaming, Inc. The acquisition has allowed DraftKings Inc., access to 5 million online casino players and customers of Golden Nugget Online Gaming, Inc. DraftKings Inc. has diversified the product portfolio beyond sports wagering and fantasy sports. Some of the prominent players in the global online gambling market include:

• William Hill

• Bet365

• Paddy Power Betfair PLC

• Betsson AB

• Ladbrokes Coral Group PLC

• The Stars Group Inc.

• 888 Holdings PLC

• Sky Betting and Gaming

• Kindred Group PLC

• GVC Holdings PLC

Online Gambling Market Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global online gambling market report based on type, device, and region:

• Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Sports Betting

  • Casinos

  • Poker

  • Bingo

  • Others

• Device Outlook (Revenue, USD Billion, 2018 - 2030)

  • Desktop

  • Mobile

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Latin America

    • Brazil

  • Middle East & Africa