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The casinos and gambling market is estimated to grow at a CAGR of 8.13% between 2022 and 2027. The size of the market is forecast to increase by USD 90.22 billion. The growth of the market depends on several factors, including the growing popularity of online gambling, the legalization of gambling, and the growth in the spending capability of customers.
This report extensively covers market 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). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing popularity of online gambling is notably driving the market growth, although factors such as socio-economic impact of casinos may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Driver
The growing popularity of online gambling is a key factor behind the growth of the global casino and gambling market. With the spread of the Internet and smartphones, more than half of the world's population is connected to the Internet. Gambling companies, including casino operators, are taking advantage of this opportunity to bring casino fun to people through online platforms. This gives you easy access to a wide variety of games, including traditional slot games and poker, as well as new games introduced to the market by casino operators.
Online platforms offer a high level of security to their users as they have to go through several levels of verification before they can play online. Plus, the thrills associated with land-based casinos are now available from the comfort of your own home using your PC or mobile device. The sign-up process through our online platform is also quick and easy. Additionally, many companies are using online platforms as an expansion strategy in regions and countries where land-based casinos are illegal but online gambling platforms are allowed to operate. The popularity of online gambling is highly beneficial for casinos and is expected to drive the growth of the global casino gambling market during the forecast period.
Significant Trend
Increasing use of social media marketing is a major trend in the growth of the global casino and gaming market. Today, casino operators are using social media marketing strategies to attract customers. Social media platforms such as Facebook, Twitter, Pinterest, Instagram, and YouTube are extremely popular and widely used by consumers. Consumers spend anywhere from one to three to four hours each day on social media platforms. Social media marketing is less restrictive than traditional marketing methods. That makes it a popular and useful advertising and branding tool for casinos.
Both offline and online casino operators, including major gaming and entertainment companies that offer vast portfolios of entertainment products, are increasingly using these social networking platforms to promote and consume casino games. It raises people's awareness and interest. Floating ads highlighting the history of winners, showcasing lucrative offers and programs, highlighting the winning aspects of casino gambling, and promoting gambling as a fun and easy way to make money is often used by providers to promote casino gambling. are some of the strategies we use to promote This has a positive effect on the focused market and directly increases the number of users participating in casino games.
Major Challenge
The socio-economic impact of casinos is a major challenge for the growth of the global casino and gaming market. Casinos affect the social and economic environment of the country and remain a major concern among various regulators and the public. Even though the odds of winning are low compared to the odds of winning, people continue to play casino games and end up losing huge amounts of money each year. There are several examples of individuals and families experiencing a decline in quality of life after losing money through gambling. In addition, winning big money can evoke extreme emotions and reactions, while losing can have a serious impact on participants' financial and mental health.
Additionally, gambling addiction can have serious consequences for addicts and their families. The increased stress of addicted people may lead to irritable behaviour, secrecy, and arguments with their family members and friends, which affects their healthy relationships. In addition, increased financial stress due to the inability to repay debts triggers dangerous behaviour in people and, in many cases, prompts people to commit suicide. Such severe gambling outcomes are expected to hinder the growth of the global casino gambling market during the forecast period.
The market share growth by the offline segment will be significant during the forecast period. The offline segment dominates the global casino gambling market, and offline gambling is popular in several counties across the globe. Offline gambling remains a viable option for casino gaming due to privacy issues in online platforms, lack of technology adoption, and the prevalence of government regulations that only allow casino gaming through offline channels.
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The offline segment was valued at USD 116.39 billion in 2017 and continue to grow by 2021. Offline platforms such as land-based casinos and standalone gaming machines provide various benefits, owing to which the segment still holds the largest share of the market. In online platforms, bettors are expected to bet money instantly, whereas local bookies sometimes allow customers to wager on credit, which gives customers flexibility and convenience to pay later. The operators are using standalone slot machines to promote casino games. These slot machines can be easily accessed and found in retail stores or supermarkets. These slots provide ease of payment, where customers bring their own devices with bets and amounts ready and simply make the payment at the counter using a smartphone or card. Thus, the introduction of fully configurable self-service terminals or kiosks is driving the growth of the offline segment.
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North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The growing adoption of technology and digital platforms, along with the favourable trend of states legalizing various forms of gambling, are the major factors driving the casino gambling market in North America. The relaxation of regulations with respect to different forms of gambling is creating a positive environment for the casino gambling market in North America. Vendors are expanding their sales channels by deploying more gaming terminals as well as partnering with retailers.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to an upsurge in the demand for North America. Furthermore, in 2020, residents of North America were obliged to stay at home owing to lockdown restrictions, which provided an additional opportunity for online casinos to attract new subscribers while regular players also made an attempt to play online, which, in turn, helped the market to gain traction in 2020. Moreover, in 2021, the easing of lockdown restrictions owing to large-scale vaccination drives in North America led to the reopening of resorts and casinos to conduct gambling activities. In addition, rapid changes in lifestyle and the rise in demand for leisure time led to an increase in demand for casino gambling. This is expected to leverage the growth of the market in focus in North America during the forecast period.
The 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.
Global Casinos and Gambling Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
corporate.888.com - The company offers gambling and casino services under the brand names 888casino, 888sport, 888poker, William Hill, and Mr. Green.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The 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. The market has been segmented 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).
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Casinos And Gambling Market Scope |
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Report Coverage |
Details |
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Page number |
173 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.13% |
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Market growth 2023-2027 |
USD 90.22 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
6.99 |
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Regional analysis |
North America, APAC, Europe, South America, and Middle East and Africa |
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Performing market contribution |
North America at 38% |
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Key countries |
US, Canada, China, UK, Germany, US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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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 & 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. |
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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 the forecast period. |
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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 report to meet your requirements. Get in touch
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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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