Press release
Online Gambling and Betting Market: High Consumer Interest in Low-Cost Online Payment Gateways Estimated to Augur Well for the Growth
The growing popularity of online gambling and betting on the outcomes of various games and events are rapidly transforming the dynamics of the global online gambling and betting market. A new market intelligence report by Transparency Market Research titled “Online Gambling and Betting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020,” covers all the important aspects of the market including current scenario, regional segments, applications, and market dynamics.As per the findings of the report, the increasing use of mobile phones to access gambling sites is contributing to the revenue growth of the global online gambling and betting market. The increasing popularity of the internet as one of the favorite means for gambling and betting on play cards or sports is fuelling the growth of the market. Moreover, the growing consumer interest regarding low-cost online payment gateways is estimated to augur well for the growth of the market. Furthermore, the increasing use of social media as a platform for online gambling is anticipated to boost the growth of the market.
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On the other hand, strict government regulations regarding online gambling in several parts of the world are hampering the growth of the global online gambling and betting market. In Asia Pacific, several governments have gone to lengths to restrict online gambling. For instance, in Singapore, remote gambling was banned under new regulations in 2015. In the U.S., only the states of New Jersey, Delaware, and Nevada have permitted online gambling within their territories. However, with more states being estimated to follow legalization in the near future, the U.S. online gambling and betting market is likely to post gains.
Based on type, the global online gambling and betting market is segmented into sports betting, casino games, and online poker. Geographically, Asia Pacific is anticipated to expand at the most-promising CAGR from 2014 to 2020. The growth of this region can be primarily attributed to the dominant position of Australia in the world based on per person expenditure on gambling and online sports betting. Over the past few years, Japan has emerged as a lucrative market owing to the presence of a state-regulated online betting website that is aligned with the national lottery operations.
Europe is also expected to provide immense growth opportunities to online gambling and betting market. A large number of countries with established regulations regarding betting and gambling are contributing to the growth of this region. This number is likely to increase as more countries including the Netherlands are adopting new online gambling regulations in order to seek additional tax revenues.
The increasing trend of acquisitions and mergers over the past few years has led to consolidation in the companies offering gambling. Some of the key players in the global online gambling and betting market are Betfair Group, 888 Holdings, Bwin Party, Paddy Power, Ladbrokes, PokerStars, and William Hill Online.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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