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The Global Casinos and Gambling market size is estimated to grow by USD 90.22 billion, accelerating at a CAGR of 8.13% between 2023 and 2027.
Our report offers in-depth analysis of market drivers, trends, opportunities, challenges, and restraints, with segmentation by Platform (offline and online), Type (poker, blackjack, craps, lottery, and others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). Additionally, Technavio provides valuable insights through value chain analysis, parent market analysis, Porter’s Five analysis, vendor analysis, and COVID-19 impact data. The report also includes a thorough analysis of historical market data from 2017 to 2021.
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The growing popularity of online gambling is a key driver boosting the casino and gambling market growth. The surging popularity of online gambling is fueling market growth, driven by the widespread adoption of online gaming platforms. Online casinos offer users enhanced security and flexibility, tapping into the global online population facilitated by increased Internet and smartphone penetration. Gambling companies, capitalizing on this trend, bring diverse casino games, from traditional slots to poker, to users worldwide. Online platforms ensure robust security through multi-level verifications, granting users the thrill of land-based casinos from the comfort of their homes. Mobile casino platforms further contribute to the virtual gaming experience, breaking down barriers present in land-based establishments. This online gaming surge is poised to significantly benefit the online casinos gambling market.
The increasing use of social media marketing is a key trend shaping the casinos and gambling market. The global casino and gambling market is experiencing significant growth, with a notable trend being the increased reliance on social media marketing by casino operators to attract customers. Platforms like Facebook, Twitter, Pinterest, Instagram, and YouTube are immensely popular among consumers, who spend several hours daily on these channels. Unlike traditional marketing methods, social media marketing offers greater flexibility, making it a preferred advertising and branding tool for casinos.
Both offline and online casino operators, including major entertainment companies with diverse portfolios, are leveraging social media platforms to promote and engage users in casino games. Strategies such as floating ads featuring winners' stories, lucrative offers, and the entertaining aspects of casino gambling contribute to raising awareness and interest. This approach positively impacts the targeted market, leading to a direct increase in the number of users participating in casino games.
The socio-economic impact of casinos poses a significant challenge to the global casino and gambling market growth. It raises concerns among regulators and the public, as casinos influence a country's social and economic environment. Despite low winning odds, people persist in playing, resulting in substantial annual losses. Numerous cases highlight individuals and families experiencing a decline in quality of life due to gambling losses, leading to severe financial and mental health consequences. Moreover, gambling addiction contributes to strained relationships, secrecy, and arguments, impacting overall well-being. The resulting financial stress can lead to dangerous behavior, including suicide. These negative outcomes are expected to impede the global casinos gambling market growth in the forecast period.
The casino and gambling market share growth by the poker segment will be significant during the forecast period. The poker segment dominates the global casinos gambling market in 2022, and online poker is popular in several countries across the world. Poker is a card game that is played over the Internet, and it has contributed to a massive surge in the number of poker players globally.
Casinos and Gambling Market
By Type
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The poker segment was valued at USD 48.43 billion in 2017 and continue to grow by 2021. Nowadays, gambling service providers are also offering live casino games, which is accelerating the demand for poker games. These games can be played online on desktops or smartphones. Several vendors, such as 888 Holdings Plc, Caesars Entertainment Corp., and Penn National Gaming Inc. (Penn National Gaming), have increased their focus on offering online gaming platforms. With a rise in the number of mobile and web applications, this segment of the global casinos gambling market is expected to grow at a rapid pace during the forecast period.
North America is estimated to contribute 38% to the growth of the global casino and gambling market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
Casinos and Gambling Industry
By North America
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The North American casinos gambling market thrives on technology adoption, digital platforms, and states legalizing gambling. Relaxed regulations create a positive environment, driving vendors to expand sales through more gaming terminals and partnerships with retailers. In the US, each state's authority over gambling regulation complicates licensing and market entry. Currently, only Nevada and Louisiana allow statewide casino-style gambling, making Las Vegas the world's second-largest casino market. Niagara Falls in Canada ranks among the top 10 casinos globally by revenue.
Vendors are leveraging online platforms for virtual casino games, such as The Linq's introduction of holographic games and virtual reality bays in March 2021. Economically, the US, with a GDP per capita of USD 60,080 in 2019, boasts high spending power. The regional market aligns with economic growth, as gambling is viewed as a luxury purchase. Consumer expenditure on entertainment increased by 4% from June 2018 to July 2019, according to the US Bureau of Labor Statistics.
The 2020 COVID-19 outbreak impacted the North American casino and gambling market as lockdowns led to traditional venue closures. Vendors shifted to online platforms for business. With lockdowns prompting residents to stay home, online casinos attracted new subscribers. In 2021, eased restrictions and lifestyle changes fueled demand, driving market growth.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
The casinos and gambling market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Casinos And Gambling Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017 - 2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.13% |
Market growth 2023-2027 |
USD 90.22 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
6.99 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
North America at 38% |
Key countries |
US, Canada, China, UK, Germany, US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
888 Holdings Plc, Affinity Gaming, Boyd Gaming Corp., Caesars Entertainment Inc., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Genting Group, Golden Entertainment Inc., Kindred Group Plc, L and L Europe Ltd., Las Vegas Sands Corp., Melco Resorts and Entertainment Ltd., MGM Resorts International, Park Lane Club, Penn National Gaming Inc., Philippine Amusement and Gaming Corp., SJM Holdings Ltd., Wozo Gaming, and Wynn Resorts Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Platform
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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