Online Gambling Market to Grow at a CAGR of 10% by 2017-2023 | Arizton

A recent study by Arizton considers the present scenario of the global online gambling market and its market dynamics for the period 2018−2023. It covers a detailed overview of various market growth enablers, restraints, and trends. The study includes both the demand and supply sides of the market. It also profiles and analyzes the leading companies and various other prominent companies operating in the online gambling market.

Online Gambling Market - Dynamics

The advent of internet applications and easy access to online platforms will help boost the demand in the global online gambling market. Various leading vendors are investing in developing websites and mobile apps that facilitate online activities. The implementation of AR technology provides online casinos with a variety of options for improving and developing their gaming offerings. The vendors are leveraging AR and VR technologies to introduce a host of new features, best elements of live gaming and software with virtual reality add-ons and overlays to make a more engaging experience for their customers.

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The growing number of live casinos worldwide will contribute to the growing demand in the global online gambling market during the forecast period. A live casino exists online and runs like a real land-based casino. These casinos offer live dealers and real-time feeds that help in replicating the experience and feel of a real-world land-based casino. The growing popularity of these services among gamblers worldwide will result in the evolution of the global online gambling market.

Online Gambling Market - Segmentation

This market research report includes a detailed segmentation of the market by product, platform, and geography. Online casinos segment dominated more than half of the market share in 2017, growing at a CAGR of around 9% during the forecast period. The advent of live casinos that provide a different approach to various operators to earn money and increase profitability while using the digital channels is propelling the growth of this segment in the global market. Online casinos allow the consumers to participate in these games at any time and from anywhere in the world. The entrant of private players and liberalization of regulations related to lotteries will drive the demand in the online lottery market over the next few years. Horse racing is one of the significant contributors to revenues in the global online sports betting market.

The desktop platform occupied the largest market share in 2017, growing at a CAGR of approximately 8% during the forecast period. The increasing penetration of internet and rising number of dual-income households across developing countries are contributing to the higher revenues in this segment in the global market. The expanding number of mobile applications and popularity of online gaming activities across European countries such as the UK, Germany, France, and Italy will boost revenues in the mobile platform in the global online gambling market.

Market Segmentation by Product Type
• Online Betting
• Online Casino
• Online Lottery

Market Segmentation by Platform Type
• Desktop
• Mobile

Online Gambling Market - Geography

The global online gambling market by geography is categorized into APAC, Europe, North America, Latin America, and MEA. Europe dominated the majority of the market share in 2017, growing at a CAGR of more than 9% during the forecast period. The liberalization of regulations and launch of innovative mobile applications will augment the growth of the European market. Mainland China, Hong Kong, and Japan are expected to become some of the biggest countries in the online gambling market in APAC. Argentina and Mexico are the largest markets in the Latin American market. This market is slowly gaining popularity in the US market and legalization of sports betting will revolutionize the market during the forecast period.

Market Segmentation by Geography
• APAC
o Australia
o Mainland China
o China SAR Macau
o China SAR Hong Kong
o Singapore
o Japan
• North America
o US
o Canada
• Europe
o Italy
o UK
o Germany
o France
o Nordic Region
• Latin America
o Argentina
o Mexico
o Brazil
• MEA
o South Africa

Key Vendor Analysis

The global online gambling market moderately fragmented, with the presence of many regional and international players. The top vendors are investing to alter and refine their unique value proposition to sustain the intense competition in the market. The market concentration in developed countries such as the Western European countries is high, while the market is in its nascent stage in developing economies such as the US and India. Various international brands are expanding to new regions to attract the maximum number of consumers and gain a larger market share. The top players are competing on the basis of offerings, premises, and platform type. The increase in product/service extensions, technological innovations, and M&A activities will help vendors boost their revenues in the global online gambling market.

The major vendors in the global market are:
• bet365 Group
• GVC Holdings
• Kindred
• Paddy Power Betfair
• The Stars Group
• William Hill

The other prominent players in the global market are AsianLogic, Betway, Betfred Group, Betsafe, Betsson, Bet-at-home, Bwin, Caesars Interactive Entertainment, Camelot Group, Casino Cosmopol, CasinoEuro, Casinostugan, Comeon, Expekt, Folkeautomaten, Gametwist, Genting Berhad, Interwetten, Jackpotjoy, Las Vegas Sands, LeoVegas, MGM Resorts International, Mobilbet, Mr. Green and Co, The Mybet Group, Nordicbet, Norgesautomaten, Norsk Tipping, Onlinecasino Deutschland AG, Pinnacle, Playtech, Rank Group, SJM Holdings Limited, Sky Bet, Sportech, StarGames, Sunmaker, Svenska Spel, Tipico Co. Ltd, Vera&John, win2day, Wynn Resorts, 1xbet, and 888 Group.

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