Gambling Market Global Share, Trend, Segmentation, Outlook and Forecast to 2023

The global gambling market is highly concentrated with the presence of several regional and international players. The increasing focus on continuous innovations and upgrades to support digital platforms and sustain the intense competition in the global market. Various companies are expanding their businesses to developing countries such as India and China to tap potential opportunities in the market.

Factors such as an increase in product or service extensions, technological innovations, and M&A are expected to intensify the competition in the global gambling market during the forecast period. Furthermore, the presence of established international vendors, consumer loyalty, and a shift in consumer preferences are major entry barriers for new players.

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The global gambling market is expected to reach revenues of over $525 billion by 2023, growing at a CAGR of approximately 4% during 2017-2023.

The major vendors in the global gambling market are:
• Bet365
• Galaxy Entertainment Group
• Las Vegas Sands Corporation
• MGM Resorts International
• The Star Group
• Paddy Power Betfair
• William Hill

The increasing per capita income, high adoption, growing interest, and rising number of dual-income households will augment the transformation of the global market. The demand for online games and increasing penetration of mobile applications across the US, the UK, Italy, and China & SAR region will help attract new players in this market over the next few years. The global gambling market is driven by increasing penetration of online gaming and betting across the North American and European region. The increase in per capita income, high adoption, growing interest, and growth of dual-income households are some of the factors augmenting the growth of the global market. The market research report provides in-depth market analysis and segmental analysis of the global gambling market by product, platform, and geography.

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The study considers the present scenario of the global 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 covers 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 market.

Gambling Market - Dynamics

The exponential popularity and rising number of live casinos will help in the development of the global gambling market during the forecast period. These live casinos have the presence of live dealers and run like a real land-based casino. The increase in e-sport competitions in the form of video gaming or pro-gaming or professional video gaming is driving the growth of the global gambling market. These competitions are multiplayer in nature and RTS, FPS, and MOBA is the most popular games in the global market. These events are often broadcasted live worldwide via streaming platforms such as YouTube and Twitch. The online gambling industry has utilized the opportunity to use digital currency and gambling on blockchain-based platforms to ensure that a higher number of consumers use these modes of payment in the global market. The increasing number of bitcoin and cryptocurrency transactions will augment the development of the global gambling market.

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Gambling Market - Segmentation

This market research report includes a detailed segmentation of the market by product, platform, and geography. Casino segment dominated more than half of the market share in 2017, growing at a CAGR of more than 3% during the forecast period. Some of the most popular casino games are roulette, slots, blackjack, baccarat, and craps. Betting is considered as a gambling activity where wagers are made on the outcome of an unpredictable event, game, or race. The betting segment is classified into two major sub-segments that include sports betting and horse & greyhound racing. The growing popularity of esports betting will boost revenues and help vendors gain a larger gambling market size over the next few years.

The land-based segment occupied the largest market share in 2017, growing at a CAGR of over 3% during the forecast period. Mass-market gaming is allowing the operators to gain more profitability and stability, where the customers pay for the money-spinning non-gaming items and help increase the operators’ profitability. The growing popularity of online gambling activities in the APAC and European region will augment the development of this segment in the global market. The ease of convenience it offers to an end-user within the comfort of their home will help the segment gain significant gambling market size over the next few years.

Market Segmentation by Product: Betting, Casino & Lottery

Key market insights include:
1. The analysis of the global gambling market provides market size and growth rate for the forecast period 2018-2023.
2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global gambling market.
3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities.
4. It offers a complete overview of market segments and the regional outlook of the global gambling market.
5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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This release was published on openPR.