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Online Gambling Market - Global Outlook and Forecast 2018-2023

SKU : ARZ180807
  • Published on : September 2018

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

Key highlights of online gambling market:

  • The online gambling & betting market witnessed the legalization of casinos in Japan on June 2018.
  • Skill-based games are gaining immense traction in the online gambling & betting market
  • Geographically, APAC has the highest growth potential due to factors such as increasing inclination toward online gambling, transition of traditional gambling to mobile platforms, per capita disposable income, prospect of legalization of online gambling and sports betting across various Asia-Pacific countries, and other miscellaneous aspects.
  • Although, Europe is the fastest growing online gambling market, the region is facing higher compliance pressure from the regulatory agencies.
  • Arizton’s analysts predict that vendors are leveraging product diversification, gamification, and integration of AR & VR technologies to enter the online gambling & betting market.

Online Gambling Market – Overview

These online gambling and betting games are emerging as a profitable commercial activity and are gaining wide acceptance across many countries worldwide, thereby, augmenting the growth of the global online gambling market. The increasing legalization of gambling & betting activities worldwide will create lucrative opportunities for leading vendors in the global gambling market. These activities are also referred to as igaming and are played online via desktop, tablets, and smartphones. The emergence of the digital era is revolutionizing the entertainment and leisure industry and boosting the demand for new games across all age groups in the market. Steady growth of the online gambling & betting market and increased end-users’ spending sentiments worldwide is resulting in higher revenues. The rapid economic development and increasing investments in the gaming industry across the European, North American, and APAC region will drive the evolution of the global online gambling & betting market. The rising awareness about various types of mobile applications in developing countries and the penetration of high-speed internet services will boost the demand for new gaming sites in the market.

Moreover, the growth in per capita disposable income has led to increased discretionary spending worldwide and encouraging players to launch innovative products and services in the market. The growing focus on enhanced marketing and online promotion will enable companies to attract the maximum number of consumers and gain a more significant market share in gambling industry. The entrant of several pureplay online vendors will fuel the development of the global online gambling market.

The increasing availability of cost-effective mobile applications across the US, the UK, Italy, and China & SAR countries will help vendors generate higher revenues in the global gambling & betting market. The dynamic changes of lifestyle, improvements in the living conditions, high-spending sentiments, and rising awareness of the latest technologies will drive the evolution of the gambling & betting market. The global online gambling market is anticipated to generate revenues of more than $74 billion by 2023, growing at a CAGR of approximately 10% during 2017-2023.

Online Gambling Market at a Glance

Online Gambling Market – Dynamics

The increasing investments in the development and implementation of gamification in the online industry will attribute to the transformation of the global online gambling market. Gamification of these activities is considered as a useful technique to retain customers in the market. Gamification is the process of incorporating the game elements such as narratives, leaderboards, and role-playing and helps increase the players’ interaction. Various players are leveraging social media and mobile apps to promote online casinos and online sports betting by offering rewards such as free spins, free chips, bonuses, comp points, cash back, and other deals. The use of gamification to offer gaming experience which is more motivating and stimulating will help companies to retain a higher number of consumers in the global gambling & betting market. Some of the online casinos which use gamification are Rizk Casino, Kaboo Casino, and Ikibu Casino. The incorporation of gamification techniques such as narratives, virtual currency, leveling up, community, and unlockable contents will fuel the growth of the global online gambling market.

Online Gambling Market – Segmentation

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

Segmentation of Online Gambling Market

Online Gambling Market – By Product

Smartphones and live casinos to contribute to the growth of the global online gambling market during the forecast period

The global online gambling market by product is segmented into online betting, online casino, and online lottery. Online casinos segment dominated more than half of the market share in 2017, growing at a CAGR of around 9% during the forecast period. The advent of live casinos that provide a different approach to various operators to earn money and increase profitability while using the digital channels is propelling the growth of this segment in the global market. Online casinos allow the consumers to participate in this games at any time and from anywhere in the world. APAC and the European region are witnessing an exponential rise in the number of users playing these online games in the global market. Some of the major online casino games available in the global gambling market are Roulette, Slots, Blackjack, Baccarat, and Crap. Japanese Pachinko is also considered as one of the products in gambling market segment. The growing popularity of smartphone applications and rapid changes in consumer preferences will boost demand in this segment in the online gambling market. The entrant of private players and liberalization of regulations related to lotteries will drive the demand in the online lottery market over the next few years. Horse racing is one of the significant contributors to revenues in the global online sports betting market.

Online Gambling Market – By Platform

The popularity of video lotteries to drive the growth of desktop platforms in the global online gambling market

The platform type segment in the global online gambling market is classified into desktop and mobile platforms. The desktop platform occupied the largest market share in 2017, growing at a CAGR of approximately 8% during the forecast period. The increasing penetration of internet and rising number of dual-income households across developing countries are contributing to the higher revenues in this segment in the global gambling & betting market. The growing popularity of video lotteries is one of the major factors attributing to the growth of the desktop platform in the market.  The increasing number of end-users that seek convenience and easy accessibility will help vendors launch new versions of desktop games in the global gambling market. The expanding number of mobile applications and popularity of online gaming activities across European countries such as the UK, Germany, France, and Italy will boost revenues in the mobile platform in the global online gambling market. The mobile platform is the fastest growing segment in the market.

Online Gambling Market – By Geography

The launch of new mobile applications in European countries to fuel development in the global online gambling market

The global online gambling market by geography is categorized into APAC, Europe, North America, Latin America, and MEA. Europe dominated the majority of the market share in 2017, growing at a CAGR of more than 9% during the forecast period. The liberalization of regulations and launch of innovative mobile applications will augment the growth of the European market. The increase in the per capita disposable income and improving the economy in many European countries will encourage vendors to launch new products in the market. The UK, Germany, France, and Italy are the largest revenue generators in the European region. Mainland China, Hong Kong, and Japan are expected to become some of the biggest countries in the online gambling market in APAC. Argentina and Mexico are the largest markets in the Latin American market. This online gambling & betting market is slowly gaining popularity in the US market and legalization of sports betting will revolutionize the market during the forecast period.

Key Countries Profiled

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

Key Vendor Analysis

The global online gambling market moderately fragmented, with the presence of many regional and international players. The top vendors are investing to alter and refine their unique value proposition to sustain the intense competition in the gambling & betting market. The market concentration in developed countries such as the Western European countries is high, while the market is in its nascent stage in developing economies such as the US and India. Various international brands are expanding to new regions to attract the maximum number of consumers and gain a more significant market share in online gambling & betting market. The top players are competing by offerings, premises, and platform type. The increase in product/service extensions, technological innovations, and M&A activities will help vendors boost their revenues in the global online gambling market.

The major vendors in the global online gambling market are:

  • bet365 Group
  • GVC Holdings
  • Kindred
  • Paddy Power Betfair
  • The Stars Group
  • William Hill

The other prominent players in the global online gambling market are AsianLogic, Betway, Betfred Group, Betsafe, Betsson, Bet-at-home, Bwin, Caesars Interactive Entertainment, Camelot Group, Casino Cosmopol, CasinoEuro, Casinostugan, Comeon, Expekt, Folkeautomaten, Gametwist, Genting Berhad, Interwetten, Jackpotjoy, Las Vegas Sands, LeoVegas, MGM Resorts International, Mobilbet, Mr. Green and Co, The Mybet Group, Nordicbet, Norgesautomaten, Norsk Tipping, Onlinecasino Deutschland AG, Pinnacle, Playtech, Rank Group, SJM Holdings Limited, Sky Bet, Sportech, StarGames, Sunmaker, Svenska Spel, Tipico Co. Ltd, Vera&John, win2day, Wynn Resorts, 1xbet, and 888 Group.

Key market insights include

  1. The analysis of the global online 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 online gambling market.
  3. The report provides the latest analysis of market share, growth drivers, challenges, and investment opportunities of global gambling & betting market.
  4. It offers a complete overview of market segments and the regional outlook of the global online 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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