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

ReportsnReports.com adds "Online Gambling Market - Global Outlook and Forecast 2018-2023" report to its research store.

The global online gambling market is anticipated to generate revenues of more than $74 billion by 2023, growing at a CAGR of approximately 10% during 2017-2023.

The increasing availability of cost-effective mobile applications across the US, the UK, Italy, and China & SAR countries will help vendors generate higher revenues in the global market. The dynamic changes of lifestyle, improvements in the living conditions, high-spending sentiments, and rising awareness of the latest technologies will drive the evolution of the market.

The global online gambling market is driven by an increase in per capita income and the number of dual-income households that constitutes the basis of increasing spending on innovative variants. The cost-effectiveness of mobile applications is also attracting new players in the global market. The market research report provides in-depth market analysis and segmental analysis of the global online gambling market by product type, platform type, and geography.

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

The study 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. 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.

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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.

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Market Segmentation by Product Type
1. Online Betting
2. Online Casino
3. Online Lottery

Market Segmentation by Platform Type
1. Desktop
2. 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.

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Key market insights include:
1. The analysis of the global online 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 online 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 online 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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