Online Gambling Market Analysis North America,APAC,Europe,South America,Middle East and Africa - US,Canada,China,UK,Germany - Size and Forecast 2024-2028

Published: Nov 2023

Pages: 164

SKU: IRTNTR40413

Snapshot

Online Gambling Market Report 2023-2028

The Global Online Gambling Market Size is estimated to grow at a CAGR of 11.03% between 2022 and 2027. The size of the market is forecast to increase by USD 150.5 billion. The growth of the market depends on several factors, including growing demand for mobile gambling, increasing online sports betting, and reduced stringency in government regulations. Growing online data security issues is a major factor hindering the market growth.

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This online gambling market report extensively covers market segmentation by Device (desktop and mobile), Product (lottery, betting, and casino), 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 2018 - 2022.

The market share growth by the desktop segment will be significant during the forecast period. The primary factor driving the segment growth is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices.

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The desktop segment was valued at USD 106.34 billion in 2017 and continued to grow until 2021. Most online gambling offerings are web-based, which are better experienced on desktops. Although many vendors have optimized their offerings for mobile devices and have developed apps for mobile platforms, users still prefer desktops for a better experience. Therefore, owing to these factors the segment in the global market will grow during the forecast period.

An emerging trend in the market involves the use of Virtual Reality (VR) as a therapeutic approach for treating gambling addiction. VR provides individuals with gambling addiction a safe virtual environment that replicates the cravings associated with their addiction, without exposing them to real-life scenarios. Therapists leverage VR to observe and analyze the behavior of addicts during virtual gambling experiences, allowing them to assess progress.

Authorized therapists gradually introduce gambling addicts with strong cravings into a tailored VR environment. This involves reducing noise levels, limiting slot machines and players in the virtual casino, and moderating the overall environment's intensity. The ongoing use of VR as a tool for curing gambling addictions is expected to persist, contributing to market growth in the forecast period.

The market faces significant challenges due to the increasing issues in online data security, hampering its growth. Online gambling encounters security and credibility concerns, including the absence of proper dispute resolution frameworks, lack of transparency in cash prize payouts, and insufficient fair and responsible casino gaming standards. These factors diminish the credibility of gambling operators and platform providers, adversely affecting the expansion of the casino business and deterring new users from participating in gambling activities like casinos and poker.

Additionally, online gambling websites are susceptible to cyber threats, with attackers targeting vital user information such as bank details and credit card numbers. The lack of advanced cybersecurity technologies in some offshore-run internet casinos further heightens the risk of cyberattacks. Consequently, these issues are anticipated to impede the global market's growth in the forecast period.

Online Gambling Market Regions

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APAC is estimated to contribute 40% 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 market in the region is experiencing rapid growth due to the increasing prevalence of mobile application platforms. The United States plays a pivotal role in leading the market in North America. The surge in online gambling through websites and applications, coupled with the widespread use of smartphones, has facilitated the introduction of online-based gambling by vendors. Notably, Lotto.com Inc. unveiled the first digital platform in New Jersey in 2021, allowing lottery ticket purchases from any device without the need for an app or pre-deposited amounts. Similarly, in January 2020, BetAmerica launched an online sports betting platform in Pennsylvania. These developments contribute to the expected growth of the regional market in the forecast period.

Key Companies and Market Share Online Gambling Market Analysis

Companies 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.

Betsson AB - The company operates under one segment. The company under this segment offers online gambling that includes gambling products such as casinos, poker, bingo, sports betting, and scratch cards. The key offerings of the company include online casino gambling games.

The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Online Gambling Market Scope
Report Coverage	Details
Page number	164
Base year	2023
Historic period	2018 - 2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 11.96%
Market growth 2024-2028	USD 181.47 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	10.15
Regional analysis	North America, APAC, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 40%
Key countries	US, Canada, China, UK, and Germany
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	1XBet, 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Cherry Spelgladje AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, INTRALOT SA, Kindred Group Plc, MGM Resorts International, Rank Group Plc, Scientific Games LLC, Sportech Plc, Sportpesa, Super Group SGHC Ltd., The Stars Group Inc., Winamax, and Galaxy Entertainment Group 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.

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What are the Key Data Covered in this Online Gambling Market Research Report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the market between 2024 and 2028
Precise estimation of the size of the market size and its contribution of the market in focus to the parent market
Accurate predictions about upcoming trends and changes in consumer behaviour
Growth of the market industry across North America, APAC, Europe, South America, and Middle East and Africa
Thorough analysis of the market’s competitive landscape and detailed information about companies
Comprehensive analysis of factors that will challenge the growth of market companies

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Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Device
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2023

3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global online gambling market 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on global online gambling market 2018 - 2022 ($ billion)

4.2 Device Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Device Segment 2018 - 2022 ($ billion)

4.3 Product Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Product Segment 2018 - 2022 ($ billion)

4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)

4.5 Country Segment Analysis 2018 - 2022
- Exhibit 22: Historic Market Size – Country Segment 2018 - 2022 ($ billion)

5 Five Forces Analysis

5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2023 and 2028

5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028

5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2023 and 2028

5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2023 and 2028

5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2023 and 2028

5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2023 and 2028

5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Device

6.1 Market segments
- Exhibit 30: Chart on Device - Market share 2023-2028 (%)
- Exhibit 31: Data Table on Device - Market share 2023-2028 (%)

6.2 Comparison by Device
- Exhibit 32: Chart on Comparison by Device
- Exhibit 33: Data Table on Comparison by Device

6.3 Desktop - Market size and forecast 2023-2028
- Exhibit 34: Chart on Desktop - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Data Table on Desktop - Market size and forecast 2023-2028 ($ billion)
- Exhibit 36: Chart on Desktop - Year-over-year growth 2023-2028 (%)
- Exhibit 37: Data Table on Desktop - Year-over-year growth 2023-2028 (%)

6.4 Mobile - Market size and forecast 2023-2028
- Exhibit 38: Chart on Mobile - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Data Table on Mobile - Market size and forecast 2023-2028 ($ billion)
- Exhibit 40: Chart on Mobile - Year-over-year growth 2023-2028 (%)
- Exhibit 41: Data Table on Mobile - Year-over-year growth 2023-2028 (%)

6.5 Market opportunity by Device
- Exhibit 42: Market opportunity by Device ($ billion)
- Exhibit 43: Data Table on Market opportunity by Device ($ billion)

7 Market Segmentation by Product

7.1 Market segments
- Exhibit 44: Chart on Product - Market share 2023-2028 (%)
- Exhibit 45: Data Table on Product - Market share 2023-2028 (%)

7.2 Comparison by Product
- Exhibit 46: Chart on Comparison by Product
- Exhibit 47: Data Table on Comparison by Product

7.3 Lottery - Market size and forecast 2023-2028
- Exhibit 48: Chart on Lottery - Market size and forecast 2023-2028 ($ billion)
- Exhibit 49: Data Table on Lottery - Market size and forecast 2023-2028 ($ billion)
- Exhibit 50: Chart on Lottery - Year-over-year growth 2023-2028 (%)
- Exhibit 51: Data Table on Lottery - Year-over-year growth 2023-2028 (%)

7.4 Betting - Market size and forecast 2023-2028
- Exhibit 52: Chart on Betting - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Data Table on Betting - Market size and forecast 2023-2028 ($ billion)
- Exhibit 54: Chart on Betting - Year-over-year growth 2023-2028 (%)
- Exhibit 55: Data Table on Betting - Year-over-year growth 2023-2028 (%)

7.5 Casino - Market size and forecast 2023-2028
- Exhibit 56: Chart on Casino - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Data Table on Casino - Market size and forecast 2023-2028 ($ billion)
- Exhibit 58: Chart on Casino - Year-over-year growth 2023-2028 (%)
- Exhibit 59: Data Table on Casino - Year-over-year growth 2023-2028 (%)

7.6 Market opportunity by Product
- Exhibit 60: Market opportunity by Product ($ billion)
- Exhibit 61: Data Table on Market opportunity by Product ($ billion)

8 Customer Landscape

8.1 Customer landscape overview
- Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
- Exhibit 63: Chart on Market share by geography 2023-2028 (%)
- Exhibit 64: Data Table on Market share by geography 2023-2028 (%)

9.2 Geographic comparison
- Exhibit 65: Chart on Geographic comparison
- Exhibit 66: Data Table on Geographic comparison

9.3 North America - Market size and forecast 2023-2028
- Exhibit 67: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2023-2028 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2023-2028 (%)

9.4 APAC - Market size and forecast 2023-2028
- Exhibit 71: Chart on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Data Table on APAC - Market size and forecast 2023-2028 ($ billion)
- Exhibit 73: Chart on APAC - Year-over-year growth 2023-2028 (%)
- Exhibit 74: Data Table on APAC - Year-over-year growth 2023-2028 (%)

9.5 Europe - Market size and forecast 2023-2028
- Exhibit 75: Chart on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Data Table on Europe - Market size and forecast 2023-2028 ($ billion)
- Exhibit 77: Chart on Europe - Year-over-year growth 2023-2028 (%)
- Exhibit 78: Data Table on Europe - Year-over-year growth 2023-2028 (%)

9.6 South America - Market size and forecast 2023-2028
- Exhibit 79: Chart on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Data Table on South America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 81: Chart on South America - Year-over-year growth 2023-2028 (%)
- Exhibit 82: Data Table on South America - Year-over-year growth 2023-2028 (%)

9.7 Middle East and Africa - Market size and forecast 2023-2028
- Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ billion)
- Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
- Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)

9.8 US - Market size and forecast 2023-2028
- Exhibit 87: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 88: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 89: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2023-2028 (%)

9.9 China - Market size and forecast 2023-2028
- Exhibit 91: Chart on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 92: Data Table on China - Market size and forecast 2023-2028 ($ billion)
- Exhibit 93: Chart on China - Year-over-year growth 2023-2028 (%)
- Exhibit 94: Data Table on China - Year-over-year growth 2023-2028 (%)

9.10 UK - Market size and forecast 2023-2028
- Exhibit 95: Chart on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 96: Data Table on UK - Market size and forecast 2023-2028 ($ billion)
- Exhibit 97: Chart on UK - Year-over-year growth 2023-2028 (%)
- Exhibit 98: Data Table on UK - Year-over-year growth 2023-2028 (%)

9.11 Germany - Market size and forecast 2023-2028
- Exhibit 99: Chart on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 100: Data Table on Germany - Market size and forecast 2023-2028 ($ billion)
- Exhibit 101: Chart on Germany - Year-over-year growth 2023-2028 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2023-2028 (%)

9.12 Canada - Market size and forecast 2023-2028
- Exhibit 103: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 104: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 105: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 106: Data Table on Canada - Year-over-year growth 2023-2028 (%)

9.13 Market opportunity by geography
- Exhibit 107: Market opportunity by geography ($ billion)
- Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges
- Exhibit 109: Impact of drivers and challenges in 2023 and 2028

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape
- Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption
- Exhibit 111: Overview on factors of disruption

11.4 Industry risks
- Exhibit 112: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
- Exhibit 113: Vendors covered

12.2 Market positioning of vendors
- Exhibit 114: Matrix on vendor position and classification

12.3 1XBet
- Exhibit 115: 1XBet - Overview
- Exhibit 116: 1XBet - Product / Service
- Exhibit 117: 1XBet - Key offerings

12.4 888 Holdings Plc
- Exhibit 118: 888 Holdings Plc - Overview
- Exhibit 119: 888 Holdings Plc - Business segments
- Exhibit 120: 888 Holdings Plc - Key news
- Exhibit 121: 888 Holdings Plc - Key offerings
- Exhibit 122: 888 Holdings Plc - Segment focus

12.5 Ballys Corp.
- Exhibit 123: Ballys Corp. - Overview
- Exhibit 124: Ballys Corp. - Business segments
- Exhibit 125: Ballys Corp. - Key offerings
- Exhibit 126: Ballys Corp. - Segment focus

12.6 Bet365 Group Ltd.
- Exhibit 127: Bet365 Group Ltd. - Overview
- Exhibit 128: Bet365 Group Ltd. - Product / Service
- Exhibit 129: Bet365 Group Ltd. - Key offerings

12.7 Betfred Group
- Exhibit 130: Betfred Group - Overview
- Exhibit 131: Betfred Group - Product / Service
- Exhibit 132: Betfred Group - Key offerings

12.8 BetOnline
- Exhibit 133: BetOnline - Overview
- Exhibit 134: BetOnline - Product / Service
- Exhibit 135: BetOnline - Key offerings

12.9 Betsson AB
- Exhibit 136: Betsson AB - Overview
- Exhibit 137: Betsson AB - Product / Service
- Exhibit 138: Betsson AB - Key offerings

12.10 Camelot UK Lotteries Ltd.
- Exhibit 139: Camelot UK Lotteries Ltd. - Overview
- Exhibit 140: Camelot UK Lotteries Ltd. - Product / Service
- Exhibit 141: Camelot UK Lotteries Ltd. - Key offerings

12.11 Cherry Spelgladje AB
- Exhibit 142: Cherry Spelgladje AB - Overview
- Exhibit 143: Cherry Spelgladje AB - Product / Service
- Exhibit 144: Cherry Spelgladje AB - Key offerings

12.12 Churchill Downs Inc.
- Exhibit 145: Churchill Downs Inc. - Overview
- Exhibit 146: Churchill Downs Inc. - Business segments
- Exhibit 147: Churchill Downs Inc. - Key news
- Exhibit 148: Churchill Downs Inc. - Key offerings
- Exhibit 149: Churchill Downs Inc. - Segment focus

12.13 Entain Plc
- Exhibit 150: Entain Plc - Overview
- Exhibit 151: Entain Plc - Business segments
- Exhibit 152: Entain Plc - Key news
- Exhibit 153: Entain Plc - Key offerings
- Exhibit 154: Entain Plc - Segment focus

12.14 Flutter Entertainment Plc
- Exhibit 155: Flutter Entertainment Plc - Overview
- Exhibit 156: Flutter Entertainment Plc - Business segments
- Exhibit 157: Flutter Entertainment Plc - Key news
- Exhibit 158: Flutter Entertainment Plc - Key offerings
- Exhibit 159: Flutter Entertainment Plc - Segment focus

12.15 Fortuna Entertainment Group AS
- Exhibit 160: Fortuna Entertainment Group AS - Overview
- Exhibit 161: Fortuna Entertainment Group AS - Product / Service
- Exhibit 162: Fortuna Entertainment Group AS - Key offerings

12.16 Galaxy Entertainment Group Ltd.
- Exhibit 163: Galaxy Entertainment Group Ltd. - Overview
- Exhibit 164: Galaxy Entertainment Group Ltd. - Business segments
- Exhibit 165: Galaxy Entertainment Group Ltd. - Key offerings
- Exhibit 166: Galaxy Entertainment Group Ltd. - Segment focus

12.17 INTRALOT SA
- Exhibit 167: INTRALOT SA - Overview
- Exhibit 168: INTRALOT SA - Business segments
- Exhibit 169: INTRALOT SA - Key offerings
- Exhibit 170: INTRALOT SA - Segment focus

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist
- Exhibit 171: Inclusions checklist
- Exhibit 172: Exclusions checklist

13.3 Currency conversion rates for US$
- Exhibit 173: Currency conversion rates for US$

13.4 Research methodology
- Exhibit 174: Research methodology
- Exhibit 175: Validation techniques employed for market sizing
- Exhibit 176: Information sources

13.5 List of abbreviations
- Exhibit 177: List of abbreviations

Methodology

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

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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