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Online gambling is banned in several countries, however, regions such as US and Australia, are gradually legalizing online gambling. Rampant gambling activities may hamper the low-income groups. Legalization of online gambling is due to the awareness of various advantages such as creation of employment opportunities, increasing revenue in the form of taxes, and use of gambling revenue for societal welfare. Relaxation of mobile gambling regulations is providing opportunities to players to participate in gambling. Technavio’s market study identifies the legalization of online gaming in many countries to be one of the primary mobile gaming market drivers fueling the industry growth. Our market analysts estimate that the mobile gambling market size will grow steadily at a CAGR of more than 5% by 2021.
The betting apps market generally gives rewards in the form of coupons or monetary benefits. However, vendors are steadily accepting cash alternatives, such as virtual money or cryptocurrency. Usage of virtual money reduces the risks related to cash transactions. Vendors can redeem the prize money in the form of online cash transactions and virtual money in the form of redeemable coupons. Coupons can aid the vendors in acquiring with the customer information such as spending history, which helps them customize their marketing plans and games accordingly. The increasing number of vendors accepting cash alternative is one of the key mobile gambling market trends having a positive impact on the industry growth.
The mobile gambling market is moderately fragmented and dominated by few international and regional vendors. Rising number of gambling premises has resulted in the high penetration of gambling, is driving the betting apps market. Due to the increasing competition among the vendors, vendors are steadily incorporating rapid technological advances and changing consumer preference. Intense competition will increase the influx of private labels in the betting apps market.
The leading vendors in the market are
The other prominent vendors in the market are Betfair, Unibet, and William Hill.
The betting segment type accounts for major share in the betting apps market due to steady popularity in major sports such as football, cricket, horse racing, and basketball. Sports betting is illegal and is more rampant in countries where betting is banned or governed under strict regulations. However, due to the extensive growth potential in the mobile gambling market, governments globally are relaxing the regulations on gambling.
Gambling enthusiasts are the primary end-users in the betting apps market due to their positive attitude toward gaming and extensive knowledge about the games they play. These gaming consumers prefer to experience the entertainment value rather than attain ROI for their investments. Consumers prefer to play gambling games on their mobiles to relieve stress.
Technavio also offers customization on reports based on specific client requirement.
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: INTRODUCTION
PART 05: MARKET LANDSCAPE
PART 06: MARKET SIZING
PART 07: FIVE FORCES ANALYSIS
PART 08: MARKET SEGMENTATION BY TYPE
PART 09: MARKET SEGMENTATION BY END-USER
PART 10: REGIONAL LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
PART 15: VENDOR ANALYSIS
PART 16: APPENDIX
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