Online gambling refers to the wagering of money or anything of value on an event with an uncertain outcome, usually involving a game of chance. It’s the activity in which a player bets something of value against another gambler and can include betting against a third party.
The global market for online gambling is growing exponentially and is likely to grow a CAGR of 10% from 2020 to 2026. The market size is estimated to be USD 50 Billion in 2019 USD 100 Billion by 2026.
Online gambling has grown to be a multi-billion dollar industry that is only expected to grow in the upcoming years. According to experts, people are looking for new ways to engage with one another. They want their human interaction but are not ready or able to commit fully, so they turn instead to gambling as a form of entertainment.
- Online Gambling Market Value USD 50 Billion (2019 Report)
- Market Forecast for 2026 USD 100 Billion
- Expected CAGR Growth from 2020-2026 – CAGR 10%
- Forecast Year – 2020-2026
- Top Market Players
- Betfred Ltd.
- 888 Holdings Plc.
- Bet365 Group Ltd.
- GVC Holdings Plc.
- Fortuna Entertainment Group.
- Paddy Power Betfair Plc, etc.
- Top Market Players
- Asia Pacific
- North America
- Latin America
- Middle East
(Base Report Year 2020)
This report comprises a detailed analysis of current and future market scenarios to identify the investment opportunities. The information describes the market issues from both the supply and demand sides.
Further, it appraises market dynamics during the forecast period, such as restraints drivers, challenges, and opportunities for the online betting & gambling market. It analyzes their impact on the demand and supply of this industry in each region. It includes a comprehensive review of changing market dynamics, trends, and competitive strategies in the global Online Betting & Gambling Market.
1. Covid-19 Insights
$66.67 billion was online gaming revenue in 2020 and is likely to grow by 10% annually over the next six years. 96% of online players like to play at home, and with so many people spending more time at home, this is only likely to increase demand for online gambling services. Covid-19 situation rises almost 64% people to spend more money on online gambling.
85% of people admitted to gambling once in their generation in the US. Women are at more risk of rising problems because of gambling than men. Around 57% of online gamblers in the US are female.
Americans have a gambling addiction, and the stats estimated 10 million, which has been linked to bling addiction by medical professionals in recent years, especially among young women who have become addicted to designer shoes and handbags. With the ongoing popularity of online gambling across the globe, this sector is likely to continue increasing for many years to come. The study provides historical data on online gambling revenue in the US and a forecast until 2026. It also gives information about the market drivers, trends, and challenges experienced by players in this industry.
2. Mediums of Online Gambling
Statistics released data about online gambling in 2020 earlier this year, showing that younger generations are more likely to gamble on their smartphones than older ones. Mobile devices like smartphones and laptops were the most popular way for gamblers aged 18-34 to access gambling; while half of all online gamblers have done so on their smartphone alone, only 14% of those over 65 use theirs for this purpose. The report also indicates that among young adults, using a phone or laptop is preferred by three out of 5 people (or 60%). Amongst the elderly (ages 55+), three-quarters prefer laptops instead of PCs or tablets when it comes time for them to gamble online!
The full report can be found on sites like findyourpokies.com