Online Gambling Market size to grow by USD 150.5 billion from 2022 to 2027, APAC to account for 39% of the market growth – Technavio

NEW YORK, May 31, 2023 /PRNewswire/ — The online gambling market size is set to grow by USD 150.5 billion between 2022 and 2027 and register a CAGR of over 11.03%, according to Technavio’s latest market research report. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Online Gambling Market 2023-2027

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax are some of the major market participants.

The growing demand for mobile gambling, the increasing betting on e-sports, and the reduced stringency in government regulations will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Online Gambling Market 2023-2027: Segmentation

Device 

Desktop: The market share growth by the desktop segment will be significant during the forecast period. The primary factor driving the segment growth is that desktop devices offer a better experience as they have bigger display screens compared with mobile devices. 
Mobile

Product 

Lottery
Betting
Casino

Geography 

North America
APAC: APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Another region offering significant growth opportunities to vendors in North America. 
Europe
South America
Middle East And Africa

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Online Gambling Market 2023-2027: Vendor Analysis and Scope

Some of the major vendors of the online gambling market in the Leisure Products industry include 888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax.

To help businesses improve their market position, Technavio’s report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the online gambling market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

The report also covers the following areas:

Market Drivers

Growing demand for mobile gambling
Increasing betting on e-sports
Reduced stringency in government regulations

Market Trends

Introduction of bitcoin gambling
Use of AI in online gambling
The emergence of VR as a cure for gambling addiction

Market Challenges

Growing online data security issues
High-risk factors
Increased addiction among low-income groups

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Online Gambling Market 2023-2027: Key Highlights

CAGR of the market during the forecast period 2023-2027
Detailed information on factors that will assist online gambling market growth during the next five years
Estimation of the online gambling market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the online gambling market
Analysis of the market’s competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of online gambling market vendors

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Racing Games Market– The racing games market size is estimated to grow at a CAGR of 11% between 2022 and 2027. The market size is forecast to increase by USD 12,752.05 million.

Online Gambling Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 11.03%

Market growth 2023-2027

$ 150.5 billion

Market structure

Fragmented

YoY growth 2022-2023(%)

9.2

Regional analysis

North America, APAC, Europe, South America, and Middle East and Africa

Performing market contribution

APAC at 39%

Key countries

US, Canada, China, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

888 Holdings Plc, Bet365 Group Ltd., BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, Galaxy Entertainment Group Ltd., INTRALOT SA, Kindred Group Plc, LeoVegas AB, MGM Resorts International, New York State Gaming Commission, Scientific Games LLC, Sportech Plc, The Betway Group, The Stars Group Inc., William Hill Plc, and Winamax

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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