Worldwide Current Trend and Future Growth Online Gambling and Betting Market (Game Type - Poker, Casino, Social Gaming, Lottery, Bingo, Sports Betting and Fantasy Sports) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2023
Online gambling and betting sector has been developing at an exceptional rate as an entertainment and recreational activity. With easy access to the internet across different regions, many users seek online gambling and betting as a secure and rewarding source of entertainment. This has widened the avenues of online gambling and betting market. Online gambling platforms offers variety of casino games including casino games, cards and dice games, bingo, sports betting and online lotteries. However, government regulations banning online gambling across different major countries is the prime factor limiting the market growth.
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The global market for online gambling is forecasted to maintain one-digit growth rates over the next four years, expected to reach a medium-high, double-digit number in billion Euros revenue. One trend in online gambling is the use of mobile devices. Some gambling sites report increasing shares of their total revenues stemming from mobile and gambling search words, which are increasingly originating from phones and tablets. Another important factor is a wave of acquisition deals which has taken place in the past two years; for example, Canada-based Amaya Gaming Group acquiring the parent company of PokerStars and Full Tilt Poker. The performance of the leading global companies in the online gambling and betting segment varied last year, with William Hill and Paddy Power showing growth rates in online net revenues of close to +20%, while Betfair showed only moderate growth and Bwin.Party registered a decline in total revenues.
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Europe was the largest online gambling market in the world, owing to a large number of countries with established regulations regarding this sector. This number is set to increase, as countries like the Netherlands adopt new online gambling regulations, seeking additional tax revenues. Across the UK, France and Spain, betting, in particular sports betting, was the largest segment of the online gambling market in 2018, while in Italy it was outperformed by casino games. In Germany, the co-existence of separate gambling regimes in the state of Schleswig-Holstein and the rest of the country was upheld by the ECJ in 2014. In Russia, online gambling remained illegal, but a separate regime is being formed for online betting under a self-regulatory organization and the nature of online poker was debated.
In the Asia-Pacific region, some governments have gone to lengths to limit online gambling. In Singapore, all forms of remote gambling were forbidden under new regulations in 2018, and in China and South Korea, a number of organizers of illegal online gambling websites were arrested. In Australia, where the regime is more liberal, foreign companies are particularly attracted by the interactive betting sector.
In the USA, of the three states allowing online gambling, New Jersey generated by far the largest revenues in 2018. More states are expected to adopt rules concerning online gambling as revenues continue to grow, though at a somewhat more moderate level than was forecasted a year ago. In Latin America, in both Brazil and Mexico, new bills were put forward in the legislature to regulate online gambling, but the legislation has not yet been approved.
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TOP PLAYERS :
- NetEnt AB
- GVC Holdings Plc
- 888 Holdings Plc
- Ladbrokes Coral Group Plc
- Fortuna Entertainment Group
- Playtech Plc
- William Hill Plc
- Kindred Plc
- Amaya Inc
- Paddy Power Betfair Plc?
Market segment by Type, Online Gambling and Betting can be split into
- Social Gaming
- Sports Betting
- Fantasy Sports
Market segment by Application, Online Gambling and Betting can be split into
- Application 1
- Application 2
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