Press release
Online Ga*mbling Market Report 2024: Growth Dynamics and Future Projections
Online Gam*bling
Online Gam*bling Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $137.26 billion In 2028 At A CAGR Of 9.1% :
The online Gam*bling market size has grown strongly in recent years. It will grow from $88.65 billion in 2023 to $96.89 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, growing adoption of smartphones with improved internet accessibility, increasing popularity of digital payments and rise in disposable income.
The online Gam*bling market size is expected to see strong growth in the next few years. It will grow to $137.26 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to increasing gamer involvement during the covid-19 pandemic, increasing consumer acceptance for fintech, technically advanced platforms, legalization of Gam*bling and changing consumer Gam*bling habits . Major trends in the forecast period include investing in ai technology to enhance user experience, integrating cryptocurrency as a payment mode, building mobile apps, investing in ar and vr technology, sponsoring sports events with large viewership, tie-up with celebrities and influencers, offer free access to games with certain main features and offer cross platform support for games.
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Online Gam*bling Market Major Segments
The online Gam*bling market covered in this report is segmented -
1) By Game Type: Betting, Ca*sino, Lottery, Po*ker, Bingo, Others
2) By Device: Desktop, Mobile, Other Devices
3) By Component: Software, Services
Key Driver - Rise In Smartphone Adoption Fuels Global Growth Of Online Gaming Market
The increasing adoption of smartphones with the improved internet accessibility is driving the online Gam*bling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, mobile users account for about 80% of all users in the online Gam*bling industry. For instance, in July 2023, according to DemandSage, a US-based data reporting and analytics solutions provider, 86% of the population around the globe owns a smartphone. There are 6.8 billion smartphone users worldwide as of 2023. In the United States 94.4% millennials own a smartphone. Nearly half of the U.S. population dedicates 5 to 6 hours per day to using smartphones. This, in turn, is expected to drive the growth of online Gam*bling market.
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Prominent Trend - Technological Innovations Reshaping The Online Gam*bling Landscape
Technologies such as Blockchain, IoT, and VR are changing everything in every field including online Gam*bling. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are a revolutionary addition to the world of online Gam*bling. With VR, one can enter a virtual Ca*sino and play all the games without having to travel. However, fraud and cheating were majorly concerning the users of online Gam*bling. A lot of online Ca*sino and online Gam*bling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. Games such as SlotsMillion, Ca*sino VR Poke*r, and The Gear that are played through VR are engaging customers and shaping the online Gam*bling industry.
Online Gam*bling Market Players
Major companies operating in the online Gam*bling market report are Flutter Entertainment plc, bet365 Group Ltd., Entain plc, Kindred Group plc, William Hill PLC, 888 Holdings PLC, International Game Technology PLC, Betsson Ab, DraftKings Inc., Betfred, QQ Lottery, Las Atlantis, Sports Toto Malaysia, Ruby Fortune, Jackpot City, SPIN Ca*sino, 32Red, Royal Vegas, Europa Ca*sino Mobile Premier League, 1xBet, Evolution Gaming, Netent, Microgaming and Play 'n' Go, Bodog88, 188bet.g, Ladbrokes Coral, Sky Betting & Gaming, Super slots, Pari Mutuel Urbain, CODERE, SuperWins, Bede Gaming, Betfair, Buzz Bingo, Superbet, GVC Holdings PLC22BET, Betway, Scientific Games, Buffalo Partners, Betway, LeoVagas.com, 22BetCherry AB, Ca*sino.Com, Slots Million, Camelot UK Lotteries Ltd., Jumeirah, Farah Experiences LLC, BetKing, Betcoza, MelBet
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the online Gam*bling market in 2023. Eastern Europe is expected to be the fastest-growing region in the global online Gam*bling market report forecast period. The regions covered in the online Gam*bling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Online Gam*bling Market Report Structure
3. Online Gam*bling Market Trends And Strategies
4. Online Gam*bling Market - Macro Economic Scenario
5. Online Gam*bling Market Size And Growth
…..
27. Online Gam*bling Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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