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The global casinos and gambling market size is estimated to grow/decline by USD 132.17 million, at a CAGR of 10.43% between 2023 and 2028. The increasing popularity of online gambling, fueled by the convenience and accessibility of online platforms, is driving casinos and gambling market growth. The legalization of gambling in various regions and the relaxation of gambling regulations in others are also contributing to market expansion.
Additionally, the growth in the spending capability of customers, driven by rising disposable incomes and changing consumer preferences, is boosting demand for these services. Overall, these factors are creating new opportunities for growth in the gambling industry worldwide.
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The casino gambling market continues to thrive with innovations in gaming technology, including AR and VR technology and Electronic Table Games (ETG) transforming online and mobile platforms as well as live casino offerings. Gross gaming revenue remains a key metric influenced by sports betting, wagering on non-athletic events, and horse wagering. Various forms of gambling services such as video gaming terminals, bingo parlors, and coin-operated gambling devices attract diverse demographics. Bookmakers and lottery ticket sales agents cater to enthusiasts of lotteries and card rooms, while online poker cardrooms like PokerStars Exchange bolster online gambling websites. Hard Rock Casino exemplifies the integration of online casino platforms, offering jackpots and ensuring security against casino breaches. The convergence of mixed reality with sporting events enhances betting experiences, underscoring the dynamic evolution of the mobile gambling platforms segment in the global gambling industry.
The growing popularity of online gambling is a key driver boosting the growth. The increasing popularity of online gambling is driving market expansion, fueled by the widespread adoption of online gaming platforms. Online casinos provide users with improved security and flexibility, leveraging the global online population supported by growing internet and smartphone usage. These companies are capitalizing on this trend by offering a wide range of casino games, including traditional slots and poker, to users worldwide. This trend is supported by the increasing internet penetration and the widespread use of mobile phones, including modern smartphones.
Additionally, advancements in technology such as augmented reality, machine learning, and artificial intelligence are further enhancing the gaming experience, contributing to the growth of the online casinos gambling market. Online platforms ensure strong security through multi-level verifications, allowing users to experience the excitement of land-based casinos from their homes. Mobile casino platforms also enhance the virtual gaming experience, removing barriers present in physical establishments. This surge in online gaming is expected to greatly benefit the online market.
The increasing use of social media marketing is a key trend shaping the growth. The 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.
Moreover, 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 casinos 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.
However, 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 market 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 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.
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The poker segment was valued at USD 47.06 billion in 2018. 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 companies, 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 market is expected to grow at a rapid pace during the forecast period.
North America is estimated to contribute 37% to the growth of the market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The North American market thrives on technology adoption, digital platforms, and states legalizing gambling. Relaxed regulations create a positive environment, driving companies to expand sales through more gaming terminals and partnerships with retailers. In the US, each state's authority over 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.
Moreover, the companies 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 casinos and gambling 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 casinos and gambling market analysis 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 research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments.
Tourists visiting casino hotels and restaurants often encounter innovation in gaming technology such as blockchain technology and cryptocurrency integration, enhancing money transactions and security. Entertainment options like live shows, concerts, and XR Casino experiences cater to diverse event preferences among gamblers and female gamblers alike. Off-track sports betting and coin-operated gambling devices attract gambling enthusiasts, while bingo halls and online poker cardrooms appeal to those seeking interactive gaming. The casino industry continues to expand with new casinos featuring slot machines and progressive jackpot slots, bolstering the quality of gambling content available on online gambling platforms. The rise of E-sports and reality show contests alongside political elections betting reflects the versatility of offshore betting services in capturing the intent of modern gamblers globally.
Market Scope |
|
Report Coverage |
Details |
Page number |
167 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.43% |
Market growth 2024-2028 |
USD 132.17 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
9.5 |
Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 37% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Bufalo Partners, Caesars Entertainment Inc., Cher Ae Heights Casino, DraftKings Inc., Flutter Entertainment Plc, Galaxy Gaming, Gambling.Com Group Ltd., Konami Group Corp., Luxury Casino, Marina Bay Sands Casino, MGM Resorts International, NOVOMATIC AG, Selina, SJM Holdings Ltd., Sky City Auckland Casino, Table Trac inc., Thinamy Entertainment Ltd., Wynn Resorts Holdings LLC, CT Gaming, and Motion JVco Ltd. |
Market dynamics |
Parent market analysis, Market forecasting growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Casinos and gambling market worth and condition analysis for the forecast period |
Customization purview |
If our casinos and gambling market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Platform
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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