Ladbrokes, William Hill, and Paddy Power Betfair are the leading players in the global gambling market, offering live casinos to the consumers
Arizton's recent market research report on the global gambling market provides comprehensive industry analysis, trend forecasts, and competitive analysis. The research study segments the market by product (betting, casino, and lottery), by platform (land-based and online), by geography (APAC, Europe, North America, Latin America, and MEA), and offers detailed competitive analysis.
The global gambling market is projected to generate revenues of more than $525 billion by 2023, growing at a CAGR of around 4% during 2017-2023.
The rising awareness of these mobile applications in developing countries of the APAC and the Latin American region is expected to boost the revenues in the global gambling market. The increase in per capita income, high adoption, the rise in interest, and growth of dual-income households are some of the factors attributing to the development of this market.
Request for your free sample today!
The top 3 drivers and trends propelling the growth of the global gambling market are discussed below:
Growing Number of Live Casinos Worldwide
The exponential popularity and rising number of live casinos will help in the development of the global gambling market during the forecast period. These live casinos have the presence of live dealers and run like a real land-based casino. These sites are designed to offer live dealers and real-time feeds that help in replicating the experience and feel of a real world. These casinos offer a wide range of games such as poker, dice, baccarat, roulette, and blackjack, among others. The increasing popularity of these places and the use of real money will augment the growth of the global gambling market. The users can also contact the dealer and other players via the online chat option. A high-profile online casino such as TheCasinoDB features a section of live casino games.
Roulette and blackjack tables are the most popular live casino games played.
The UK is amongst the largest region adopting these games in the market. Ladbrokes, William Hill, and Paddy Power Betfair are the leading players offering this experience to its consumers in the global market. Many vendors are launching a dedicated mobile application for the live casino games to attract a maximum number of consumers in the global gambling market.
Increased Betting on eSports
The increase in e-sport competitions in the form of video gaming or pro-gaming or professional video gaming is driving the growth of the global gambling market. These competitions are multiplayer in nature and RTS, FPS, and MOBA is the most popular games in the global market. These events are often broadcasted live worldwide via streaming platforms such as YouTube and Twitch. The increasing number of sponsors and advertisers spending on these events will attract an increasing number of end-users and boost the revenues in the global gambling market. eSports betting started with the game Counter-Strike: Global Offensive through a process called skin gambling or skin betting. Furthermore, there are a number of betting sites that allow spectators or audience to bet on eSports events and tournaments in a similar manner they would bet on a football, baseball, hockey, or basketball game. The increasing popularity of eSports is encouraging government organizations to legalize sports betting in several regions such as the UK and the US. The rise in the number of annual sporting events will augment the growth of the global gambling market during the forecast period.
Request for your free sample today!
Inclusion of Digital/Cryptocurrency as Standard Money
The growing use of cryptocurrencies in making bets will drive the transformation in the global gambling market. The implementation of the blockchain, which is a distributed database where cryptocurrency transaction records are kept will ensure that all online transactions are secure and safe. The online gambling industry has utilized the opportunity to use digital currency and gambling on blockchain-based platforms to ensure that a higher number of consumers use these modes of payment in the global market.
The increasing number of bitcoin and cryptocurrency transactions will augment the development of the global gambling market.
Various government organizations such as the Financial Conduct Authority and HMRC in Great Britain recognizes cryptocurrencies as legal tenders. The commissions across various regions are encouraging vendors to use these digital currencies in the market. The analysts at Arizton believes that the use of cryptocurrencies and bitcoins will increase in the global gambling market during the forecast period.
The leading vendors in the global gambling market are Las Vegas Sands Corporation, MGM Resorts International, Galaxy Entertainment Group, Paddy Power Betfair, and William Hill.
The complete overview of the latest market research report on the global gambling market by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
Mar 15, 2023
STOCK MUSIC MARKET EXPERIENCING MASSIVE DEMAND – HUGE MARKET TO INVEST IN!
The rising demand for improving video and movie experience creates large avenues for the stock music...
Jan 30, 2023
More than USD 200 Billion Opportunities Opening Up in the Flooring Market
Arizton estimates that there are more than 200 billion Opportunities in the flooring market. Growing...
Jan 18, 2023
Netherlands Used Construction Equipment-Compact Electric Used Construction Equipment Sales Booming
More than 22k Units of Used Construction Equipment to be Sold in Netherlands...