Mobile Platforms to Boost Revenues in the Online Gambling Market
Arizton’s recent market research report on the online gambling market identifies bet365 Group, GVC Holdings, Kindred, Paddy Power Betfair, The Stars Group, and William Hill as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market 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).
The online gambling market is estimated to reach revenues of more than $74 billion by 2023, growing at an impressive CAGR of approximately 10% during 2017-2023.
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The online gambling market is divided into three major segments that consist of by product, platform, and geography.
Mobile platform segment to grow at the fastest CAGR in the online gambling market during the forecast period
The online gambling market by the platform is segmented into desktop and mobile. The mobile platform dominated a second largest market share in 2017, growing at a CAGR of around 14% during the forecast period.
The increasing popularity of mobile applications in Europe and APAC will propel the growth of mobile based gambling market.
The end-users perform gambling activities online on smartphones or tablets in this market segment. The rising penetration of smartphones is resulting in an increasing number of mobile application-based betting websites available in the global online gambling market. The ease of convenience that offers the end-users the luxury using these applications from the comfort of their will boost the revenues in the global market. The acceptance of digital or cryptocurrency as standard money will help boost revenues in the global online gambling market. Moreover, vendors are investing in the development of mobile platforms to attract a large number of consumers in the market. GVC Holdings, bet365, William Hill, Betfair, The Stars Group, Kindred, Betsson, and 888 Holdings are some of the most prominent players in the global online gambling market.
Betting segment to grow at an impressive CAGR in the online gambling market during the forecast period
The product segment in the online gambling market is classified into online betting, online casino, and online lottery. Online betting occupied the second largest market share in 2017, growing at a CAGR of more than 11% during the forecast period. Betting includes wagers that are made on the outcome of an unpredictable event, game, or race. The two main sub-categories of the online betting segment are sports betting and horse and greyhound racing. Sports betting is one of the major revenue generators in the global online betting market. In the US, New Jersey and Delaware are witnessing increased sports betting GGR, owing to the liberalization in the regulatory framework in the country. Horse and greyhound racing are still very popular in various European countries and propelling the growth of the region in the global market.
Organized eSports tournaments are the latest trend in the market. RTS, FPS, and MOBA are the most widely available and popular games in the eSports betting segment in the global market.
Various streaming platforms such as Twitch and YouTube are attracting many sponsors and advertisers to invest in these events in the online gambling market. With money pouring in from viewers, sponsors, and players, eSports betting and eSports gambling are soon to become a viable market in the coming years.
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North America to grow at a significant CAGR in the online gambling market during the forecast period
The online gambling market by geography is categorized into APAC, Europe, North America, Latin America, and MEA. North America is the fastest growing region in the global market, at a CAGR of over 23% during the forecast period. The high spending power of the baby boomers and Gen X, increased adoption of smartphones, inclination toward new technology, and high urbanization are some of the prominent factors attributing to the growth of the North American market. The US is the largest revenue generator in the North America online gambling market. The leading vendors are investing in the established of facilities and maintain offshore facilities for profit enhancement and customer base expansion in the North American market. The economic recovery and favorable regulations and policies will boost revenues in the North American online gambling market.
The other prominent players operating in the 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.
The complete overview of the latest market research report on online 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.
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