Understanding COVID-19’s impact on the Online Gambling Market Statistics and Growth Prediction 2020- Betsson AB, 888 holdings Plc, GVC Holdings Plc, Kindered group Plc

Under COVID-19 outbreak globally, this report provides 360 degrees of analysis from supply chain, import and export control to regional government policy and future influence on the industry. Detailed analysis about market status (2015-2020), enterprise competition pattern, advantages and disadvantages of enterprise products, industry development trends (2020-2025), regional industrial layout characteristics and macroeconomic policies, industrial policy has also been included. From raw materials to end users of this industry are analyzed scientifically, the trends of product circulation and sales channel will be presented as well. Considering COVID-19, this report provides comprehensive and in-depth analysis on how the epidemic push this industry transformation and reform.

The online gambling market is predicted to reach USD 87.75 billion by 2024, registering a CAGR of 8.77%, during the forecast period (2019 - 2024). The online betting is the fastest growing segment during the forecast period. Artificial intelligence, Chabot, and machine learning have taken over the market. The rise in the number of female population in casinos and convenience of cashless mode of payment during the gaming are likely to boost the online gambling market, during the forecast period. Online gambling companies are likely to expand their sport betting options after sport betting was legalized in the United States by the Supreme Court, in 2018, which is further supporting the markets growth. However, stringent regulations related to online gambling are expected to hinder the market growth rate.

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The online gambling market includes gaming types, such as betting, bingo, lottery, casino, and other gambling games include poker and country-level games. The online gambling market by device type is categorized as mobile and desktop gambling games.

Online Gambling Market Segmentation:

Top leading Manufactures Profiled in Online Gambling Market Report are:

Betsson AB, 888 holdings Plc, GVC Holdings Plc, Kindered group Plc, Paddy Power Betfair Plc, Cherry AB, William Hill Plc

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Online Gambling Market Scenario:

Online Betting Holds a Prominent Share among the Online Gambling

The online betting segment is predominantly applied in the sports category, especially in events, such as FIFA World Cup and European Championships. Online betting is also popular in horse racing and greyhound racing. Many of the online sports betting companies are sponsoring different teams as a part of their marketing initiatives and strategic expansions. For instance, the bwin brand, a pioneering online sports brand across Continental Europe, attained global recognition through high-profile sponsorships with football clubs, such as Real Madrid and AC Milan. Similarly, for the 2018 World Cup, the Gaming Innovation Group (GiG) launched an advanced and innovative platform for sports betting, thereby driving the market.

North America Remains the Fastest Growing Region

The current legislation framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. The new law allows for online casinos, online poker, sports betting, and more. New Jersey is currently the largest market for regulated online gambling in the United States. There are a number of sports books and online sports betting apps live in the state. Canada is largely an unregulated country in terms of online gaming. Whereas, Mexico is reviewing its gambling laws, with the aim to regulate the online gambling sector to bring it in line with the rest of the nations gambling industry.

Competitive Landscape

Market leaders have been focusing on mergers since the past few years, primarily to increase their market share and to improve margins. For instance, Paddy power Plc and Bet fair Plc merged into Paddy Power Betfair Plc. Similarly, Ladbrokes and Coral merged and formed Ladbrokes Coral Group Plc. Many online gambling companies rely on third party providers, such as Playtech, for software. However, some companies choose to backward integrate. 888poker heavily invested in developing its own software and online gaming technology, primarily not to rely on suppliers. The key players in the online gambling market are providing similar or almost identical services and products, leading to a fierce competition with a heavy focus on pricing and marketing activities.

The key insights of the Online Gambling Market report:

─The report provides key statistics on the market status of the Online Gambling market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.

─The report provides a basic overview of the industry including its definition, applications and manufacturing technology.

─The Online Gambling market report presents the company profile, product specifications, capacity, production value, and 2014-2020 market shares for key vendors.

─The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.

─The report estimates 2020-2026 market development trends of Online Gambling Market.

─Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out

─The report makes some important proposals for a new project of Online Gambling Industry before evaluating its feasibility.

In conclusion, Online Gambling market report presents the descriptive analysis of the parent market supported elite players, present, past and artistic movement information which is able to function a profitable guide for all the Online Gambling Industry business competitors. Our expert research analyst’s team has been trained to provide in-depth market research report from every individual sector which will be helpful to understand the industry data in the most precise way.

How we have factored the effect of Covid-19 in our report:

All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.

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