Sep 18, 2020 (Heraldkeepers) -- Global Online Gambling Market is valued at USD 47.57 Billion in 2018 and expected to reach USD 94.37 Billion by 2025 with the CAGR of 10.28% over the forecast period.
Increased use of internet gambling by young people due to the fact that it has no payment restrictions and rapidly growing smartphone penetration with high participation in gambling activities are the major factors driving the growth of Global Online Gambling Market.
Brandessece Market Research recently added the Online Gambling Market research report which offers a thorough study of the market scenario regarding the market size, share, demand, growth, trends, and forecast from 2020-2026. The report deals with the impact analysis of the COVID-19 pandemic. The COVID-19 pandemic has impacted exports, imports, demand and trends in the industry and is expected to have some economic impact on the market. The report offers a comprehensive analysis of the impact of the pandemic across the industry and provides insights into a post-COVID-19 market scenario.
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Gambling refers to the risking money or anything of material value for uncertain results. Online gambling is commonly known as internet gambling which is typically having a bet on casino or other sports type games over the Internet. The gambling varies from sports bets to casino style games include different games like roulette, poker, slots, lotteries, bingo and keno. The first online gambling Web sites were launched in the 1990 in the United States. In addition, online gambling differs from in-person casino gambling in many different ways, where there is no any interaction between the players and the dealer. Today's online gambling websites provide exciting and modern interfaces that may be especially attractive to younger players and to those who enjoy video games. These websites use celebrities for promotion and sometimes they take part in the tournaments to add the glamour and excitement together.
Global Online Gambling Market is segmented on the basis of by type, platform and region & country level. Based on type, online gambling market is segmented into online betting, online casino and online lottery. Based upon platform, the market is classified into desktop and mobile.
The regions covered in this online gambling market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Online Gambling market is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Online Gambling Market Report-
Key players of the online gambling market are MGM Resorts International, Galaxy Entertainment Group Ltd., GVC Holdings Plc, INTRALOT SA., William Hill Plc among, 888 Holdings Plc, bet365 Group, Betsson Ab, Camelot UK Lotteries Ltd., Flutter Entertainment Plc and others.
Global Online Gambling Market Dynamics-
Increased use of internet gambling by young people due to the fact that it has no payment restrictions and rapidly growing smartphone penetration with high participation in gambling activities are the major factors contributed to the increasing demand of online gambling. For example; Smartphone gambling have been fastest growing segment than traditional forms of gambling for last few years. It is estimated that around 8.92 million people in the UK gamble and more than half of the young individuals playing games through mobile or tablet. According to the World gambling statistics reported that about 25% of the population gamble meaning that nearly 1.4 billion people worldwide gamble and 4.1 billion gamble at least once every year. When it comes to online gambling, the UK reports concluded that approximately 17% of the population gambles online. In addition, growing importance of internet along with the rise of social networking channels is another key factor propelling the growth of this market. Most online gambling operators are located in the Netherlands Antilles, Gibraltar and United Kingdom (UK) among others. However, some countries mandate the laws towards the online casino gaming structure, so it may difficult for online gambling industry to access certain gaming facilities. This may hinder the online gambling market growth up to some extent.
Europe is Expected to Dominate the Global Online Gambling Market Throughout the Forecast Period.
Europe is expected to dominate the global online gambling market due to the rapid growth in innovation coupled with increasing number of casino platforms and shifting of government's supportive landscape for the promotion of online gaming activities in this region. For example; European gaming & betting association (EGBA) member companies provide their services across 20 EU Member States processing over 121 different online gambling licenses in order to access online gambling. In addition, in 2015 globally EU market made around 47.6% of the USD 37.50 billion of online gaming gross win generated. North America is expected to be the fastest growing region in online gambling market. The U.S. is leading its way in gambling with the large casino industry. Nevada, New Jersey and Delaware are among the first states to legalize online gaming. Now, Delaware and New Jersey have permitted online casinos and poker sites with increased in casino gaming revenue.
Key Benefits for Global Online Gambling Market Report-
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.