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Gambling Market - Global Outlook and Forecast 2018-2023

SKU : ARZ180805
  • Published on : September 2018

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This market research report on global gambling market offers analysis on market size & forecast, market share, industry trends, growth drivers, and vendor analysis. The market study also includes insights on segmentation by product (betting, casino, and lottery), by platform (land-based and online), and by geography (APAC, Europe, North America, Latin America, and MEA). 

Key Highlights of Gambling Market:

  • The global lottery market GGR is expected to reach more than $110 billion by 2023.
  • One of the key drivers for the gambling market is the growing focus on mass gaming segment which will help increase the revenues.
  • Increasing betting on e-sports, such as competitive video gaming is one of the major growth trend and is expected to cross more than $1 billion by 2020.
  • Inclusions of digital/crypto currency enables transparent, secured, and tamper proof transactions in the gambling & betting industry.
  • The vendors based out of Europe are expected to launch their services in US market during the forecast period.

Gambling Market - Overview

The exponential growth of the entertainment and leisure activities industry and legalization of wagering activities is driving the growth of the global gambling market. Consideration, chance, and prize are the three major elements of this practice and is considered as a major commercial activity across various countries. Some of the most popular activities include pokercasinobetting, and lottery. The growing popularity of the gambling games is across developed economies such as the US, the UK, and other Western European countries. The launch of the new mobile applications that conveys ease and convenience to consumers to gamble from the comfort of their homes is boosting the revenues in the global gambling market. The rapid growth of the online websites and increased end-users’ spending sentiments worldwide will help vendors attract a maximum number of consumers. The consumer sentiments on increased spending on leisure products across the Europe, North America, and APAC region will create lucrative opportunities for leading companies operating in this market. The growth in per capita disposable income has led to increased discretionary spending worldwide. Furthermore, factors such as enhanced marketing and online promotion will fuel the development of the global gambling market.

The increasing per capita income, high adoption, growing interest, and rising number of dual-income households will augment the transformation of the global gambling market. The demand for online games and increasing penetration of mobile applications across the US, the UK, Italy, and China & SAR region will help attract new players over the next few years. The global gambling market is expected to reach revenues of over $525 billion by 2023, growing at a CAGR of approximately 4% during 2017-2023.

Global Gambling Market Research Report, Industry Analysis, Size,Trends

 

Gambling Market - Dynamics

The growing adoption of augmented reality and virtual reality in this segment will attribute to the revolutionization of the global gambling market. Casino owners are implementing new technologies in the gambling industry that will allow them to offer something unique to their customers and provide gamers with an enhanced experience. The vendors are integrating augmented reality and virtual reality with online casinos and in the online gambling & betting segment to sustain the intense competition in the global gambling market. AR is a combination of live, direct or indirect physical contact with the physical and real world and computer-generated sensory inputs such as sound, video, graphics, and GPS data. VR enables the user to immerse and to interact with the 3D world with ease. The integration of these technologies in the gambling industry will allow companies to introduce a range of new feature and create a more engaging experience for the consumers. 360-degree surround view and seamless gaming experience will propel the development of the global gambling market.

Gambling Market - Segmentation

This market research report includes a detailed segmentation of the market by product, platform, and geography.

 

Global Gaming Market Share and Segment Analysis

 

Gambling Market – By Product

Live casinos to gain immense traction in the global gambling market during the forecast period

The global gambling market by product is segmented into betting, casino, and lottery. Casino gaming segment dominated more than half of the market share in 2017, growing at a CAGR of more than 3% during the forecast period. Some of the most popular casino games are rouletteslotsblackjackbaccarat, and craps. The largest casinos are in the countries such as Nevada and Macau. North America and APAC have the highest number of functioning casinos. The increasing proliferation of live casinos that offers live dealers and real-time feeds that help in replicating the experience and feel of a real-world land-based casino is augmenting the growth of this segment. Some of the leading vendors in the live segment are Ladbrokes, William Hill, and Paddy Power Betfair. The growing popularity of sports betting and greyhound betting is helping players attract a large number of consumers to the gambling market. Various countries are offering national or state-run lotteries, thereby driving the growth of this segment.

Gambling Market – By Platform

The mass-market game play is driving the growth of land-based centers in the global gambling market

The platform segment in the global gambling market is classified into land-based and online (desktop and mobile). The land-based segment occupied the largest market share in 2017, growing at a CAGR of over 3% during the forecast period. Land-based or offline gambling activities are carried out in the brick-and-mortar establishments. Some of the most prominent gambling & betting vendors operating in the land-based segment consist of Las Vegas Sands, MGM Resorts International, Genting, and Galaxy Entertainment Group. Mass-market gaming is allowing the operators to gain more profitability and stability, where the customers pay for the money-spinning non-gaming items and help increase the operators’ profitability. Furthermore, government efforts to boost tourism are promoting the development of various venues to attract a maximum number of consumers in the gambling and betting market. The increasing penetration of smartphones that lead to the rise in the number of mobile application-based betting websites is boosting the adoption of these platforms in the global gambling market.

Gambling Market – By Geography

Mainland China, South Korea, and Japan in APAC are the largest revenue generators in the global gambling market

The global gambling market by geography is divided into APAC, Europe, North America, Latin America, and MEA. APAC dominated the majority of the market share in 2017, growing at a CAGR of around 3% during the forecast period. The improving the quality of life and increasing per capita disposable income across various countries is boosting the growth of the APAC region in the global gambling & betting market. China & SAR, South Korea, and Japan are the largest revenues generators in the APAC region. However, rapid urbanization across Singapore, Vietnam, and India is expected to create lucrative opportunities for operating in these regions during the forecast period. The implementation and adoption of new technologies and proliferation of smartphones are boosting the online gambling segment in APAC. Legalization of sports betting across Europe and North Americ will help boost revenues in the global gambling market. Government initiatives to legalize these activities in Argentina and Brazil will augment the development of the Latin American market.

The key countries profiled in the report are:

  • Australia
  • Mainland China
  • China SAR Macau
  • China SAR Hong Kong
  • Singapore
  • US
  • Canada
  • Italy
  • UK
  • Germany
  • France
  • Nordic Region
  • Argentina
  • Mexico
  • Brazil
  • South Africa

Key Vendor Analysis

The global gambling market is highly concentrated with the presence of several regional and international players. The increasing focus on continuous innovations and upgrades to support digital platforms and sustain the intense competition in the global gambling and betting market. Various companies are expanding their businesses to developing countries such as India and China to tap potential opportunities in the market. Factors such as an increase in product or service extensions, technological innovations, and M&A are expected to intensify the competition in the global gambling market during the forecast period. Furthermore, the presence of established international vendors, consumer loyalty, and a shift in consumer preferences are major entry barriers for new players in the gambling industry.

The major vendors in the global market are:

  • Bet365
  • Galaxy Entertainment Group
  • Las Vegas Sands Corporation
  • MGM Resorts International
  • The Star Group
  • Paddy Power Betfair
  • William Hill

Other prominent vendors include AsianLogic, Betway, Betfred Group, Betsafe, Betsson, Bet-at-Home, Bwin, Camelot Group, Casino Cosmopol, Caesars Interactive Entertainment, CasinoEuro, Casinostugan, Casumo, Comeon, Expekt, Folkeautomaten, Gametwist, Genting Berhad, GVC Holdings, Interwetten, Jackpotjoy,  Kindred, LeoVegas, Mr. Green, Mybet, Mobilbet, Nordicbet, Norgesautomaten, Norsk Tipping, Online Casino Deutschland,  Pinnacle, Playtech, Rank Group, SJM Holdings Limited, Sky bet, Stargames, Sunmaker, Sportech, Svenska Spel, Tipico, Vera&john, Win2Day,  Wynn Resorts, 1xbet, and 888 Group.

Key market insights include

  1. The analysis of the global gambling market provides market size and growth rate for the forecast period 2018-2023.
  2. It offers comprehensive insights into current industry trends, trend forecast, and growth drivers about the global gambling market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities of the gambling industry.
  4. It offers a complete overview of market segments and the regional outlook of the global gambling market.
  5. The report offers a detailed overview of the vendor landscape, competitive analysis, and key market strategies to gain competitive advantage.

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