Global Online Gambling Market Forecast:
The Online Gambling Market is expected to grow from USD 55.8 billion in 2020 to USD 106.2 billion by 2026 at a CAGR of over 11.3% during the forecast period. The Online Gambling Market growth depends upon numerous factors which have direct or indirect impact on the demand. Our report has the summary of such factors derived using SWOT, PEST, industry life cycle and supply chain analysis. These methods help in analysing the strength of the companies and identify gaps as well as opportunities to lay out a successful roadmap which leads to higher profitability.
Some linchpins in the market are:
- William Hill PLC (UK),
- Bet365 Group Ltd. (UK),
- Paddy Power Betfair PLC (Ireland),
- Betsson AB (Sweden),
- Ladbrokes Coral Group PLC (UK),
- The Stars Group Inc. (Canada),
- 888 Holdings PLC (UK),
- Sky Betting & Gaming (UK),
- Kindred Group PLC (Malta), and
- GVC Holdings PLC (UK).
Online Gambling Market Segmentation:
The report segments based upon demographics, geographics, benefits and volume etc, has different driving factors and identifies the most-attractive segments and sub-segments. Online Gambling Market segmentation will not only help marketers to be more efficient in terms of time, money and other resources but also allows companies to learn about their target audience so that they can tailor campaigns and increase market share and revenue.
COVID-19 Impact on Global Online Gambling Market
The COVID-19 pandemic is likely to favourably impact market growth. To curb the spread of the virus, countries worldwide are imposing restrictions and are promoting social distancing measures. Strict restrictions on the movement of people are further expected to negatively impact land-based casino operations.
Thus, many players are now shifting towards online gambling. However, the cancellation of major sports events around the world is further affecting sports betting, thus hindering market expansion.
Type Trends
Based on type, the online gambling market has been categorized into sports betting, casinos, poker, bingo, others.
- Among these, the sports segment witnessed the largest market share in 2020 owing to rising use of digital platforms among consumers.
- Further, growing purchasing power in Asia Pacific further led to increasing spending capacity in online betting in sports, resulting in segment growth.
Note: This report will be refreshed to consolidate the effect of COVID-19, available for the time of 2021 to 2026.
Regional Analysis
By region, the Europe market held the highest market share in 2020 and is estimated to register a robust CAGR during the review period.
- This is majorly attributed to the legalization of gambling in various countries such as Germany, Spain, Germany, Malta, and Italy.
- Favourable factors such as increasing popularity of online casinos, availability of high-speed internet, and rising use of smart phones further boosts the regional growth.
- Also, the Gambling Act 2005 imposed up by the U.K. Gambling Commission (UKGC) has allowed the companies to advertise their gambling sites, which is also accelerating the growth of the market in Europe.
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About Stratview Research
Stratview Research is a global market intelligence firm helping its clients’ tract the ever-evolving market scenarios through customised and syndicated reports. The reports offered here are gathered with the help of our wide-ranging and reliable secondary sources and in-depth interviews with the linchpins within the market. Extrapolated through primary and secondary research, Stratview Research’s reports help you remain ahead of the curve by enabling you to understand the current market trends and challenges coming on your way. Our strong team of industry veterans and researchers assure high quality research and strategic insights that help companies worldwide in effective decision making.