Online Gambling Global Market to Reach $115.13 Billion by 2026 at a CAGR of 9.2%
DUBLIN, Aug. 8, 2022 /PRNewswire/ -- The 'Online Gambling Global Market Report 2022, By Game Type, Device, Component' report has been added to ResearchAndMarkets.com's offering.
The global online gambling market is expected grow from $73.42 billion in 2021 to $81.08billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to reach $115.13 billion in 2026 at a CAGR of 9.2%.
The online gambling market comprises of revenue generated by remote gaming activities by means of the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casino, bingo, lotteries, and poker games, among others.
The main game types of online gambling are betting, casino, lottery, poker, online bingo and others. A lottery is a type of gambling in which numbers are drawn at random for a prize. The games are played in various devices such as desktop, mobile and others. The different components include software, services.
Asia Pacific was the largest region in the online gambling market in 2021. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the online gambling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing adoption of smartphones with improved internet accessibility is driving the online gambling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, the mobile users account for about 80% of all users in the online gambling industry. According to the study published by the Gambling Commission, in 2020, the most common method of accessing online gambling remained mobile phones, particularly among younger people.
The online gambling laws vary wildly from one region to other. Most countries have their own local laws that deal with the relevant legal and regulatory issues. Countries such as the USA, have much more complex gambling regulatory process. Moreover, in countries like India, gambling is under strict control. With each individual country enacting different gambling laws, it's tough to be familiar with them all.
Nevertheless, all gambling sites should be compliant with any laws that they are subject to, to ensure gambling sites are operated lawfully, ethically, and are safe. The established and reputable licensing authorities impose a strict code of conduct on the licensees, who have to adhere to the necessary regulations if they are to maintain their licenses. The strict and varying laws across the countries are likely to challenge the market growth.
Technologies such as Blockchain, IoT and VR are changing everything in every field including online gambling. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are revolutionary addition to the world of online gambling. With VR, one can actually enter into a virtual casino and play all the games without having to travel. However, fraud and cheating were majorly concerning the users in online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes.
Scope
Markets Covered:
1) By Game Type: Betting; Casino; Lottery; Poker; Online Bingo; Others
2) By Device: Desktop; Mobile; Others
3) By Component: Software; Services
Key Topics Covered:
1. Executive Summary
2. Online Gambling Market Characteristics
3. Online Gambling Market Trends And Strategies
4. Impact Of COVID-19 On Online Gambling
5. Online Gambling Market Size And Growth
6. Online Gambling Market Segmentation
8. Asia-Pacific Online Gambling Market
9. China Online Gambling Market
10. India Online Gambling Market
11. Japan Online Gambling Market
12. Australia Online Gambling Market
13. Indonesia Online Gambling Market
14. South Korea Online Gambling Market
15. Western Europe Online Gambling Market
16. UK Online Gambling Market
17. Germany Online Gambling Market
18. France Online Gambling Market
19. Eastern Europe Online Gambling Market
20. Russia Online Gambling Market
21. North America Online Gambling Market
22. USA Online Gambling Market
23. South America Online Gambling Market
24. Brazil Online Gambling Market
25. Middle East Online Gambling Market
26. Africa Online Gambling Market
27. Online Gambling Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Online Gambling Market
29. Online Gambling Market Future Outlook and Potential Analysis
Companies Mentioned
- 888 Holdings PLC.
- Bet365 Group Ltd.
- Betsson AB
- William Hill PLC.
- GVC Holdings PLC.
- Kindred Group PLC.
- Sky Betting & Gaming
- Stars Group Inc.
- Ladbrokes Coral Group PLC.
- Paddy Power Betfair PLC.
For more information about this report visit https://www.researchandmarkets.com/r/k4vmb7
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SOURCE Research and Markets
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