Online Gambling & Betting Market by Business Overview, Challenges, Opportunities in 2027
COVID-19 Scenario Analysis:
• There is lockdown in various countries due to COVID-19 situation which also led to the shutdown of the various industries and hence affected the market growth badly.
• However, gambling and betting related to sports activities got affected due to COVID-19 as all such events are cancelled as a part of lockdown• The online gambling and betting market has gained a lot of popularity worldwide due to the ease it offers. Hence, once the lockdown will be released there will be improvement in the condition of the market.
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•Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Increase in the prevalence rate of gambling and betting, rise in the disposable income of individuals in emerging economies, trust in the online transactions in gambling and betting, adoption of more of the internet-supported devices are some of the prominent factors contributing toward the growth of the online gambling and betting market.
Relaxation in stringent laws worldwide for online gambling and betting provides better opportunities to the major players to engage more people in such activities and earn better revenue.
•Gamification for delivering better results
Customer satisfaction and loyalty holds the supreme importance for the major players of this market. Hence, companies are making sincere efforts to generate loyalty in this online market of betting and gambling. They are opting for various techniques like gamification where the operator gets to know about his real-time performance, virtual rewards, loyalty bonuses, and status of competition with fellow players.
Europe as a market for online betting and gambling is doing really well while this market is expected to grow in Asia-Pacific during the forecast period. The primary reason for the same is rise in the disposable incomes in the economies like China, India, and Brazil. Populations of these regions are now willing to spend more amount of money on the activities like online betting and gambling. Relaxation in the governmental laws and easy accessibility to foreign betting and gambling sites with lucrative offers are expected to boost the market growth.
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•Regions covered : North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and Rest of LAMEA)
•Companies covered: Bet365 Group Ltd., William Hill plc, Betfred Ltd., GVC Holdings Plc, 888 Holdings Plc, The Betway Group, Paddy Power Betfair Plc, Fortuna Entertainment Group, mybet Holding, The Stars Group, Rank Group, Playtech, Kindred Group, William Hill Plc, Hong Kong Jockey Club
Key Benefits of the Report:
• This study presents the analytical depiction of the global online gambling and betting industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global online gambling and betting market share• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global online gambling and betting market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global online gambling and betting market analysis based on competitive intensity and how the competition will take shape in the coming years.
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