Online Gambling Market Continues to Surge, Rising Demand for Online Casino Fuels the Industry Expansion, the Market to Worth $213.58 Billion by 2028 - Arizton

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May 11, 2023, 14:55 ET

CHICAGO, May 11, 2023 /PRNewswire/ -- According to Arizton's latest research, the online gambling market will grow at a CAGR of 12.56% during 2022-2028.

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The online gambling market has experienced a boost in prospects worldwide, as consumer spending sentiments have increased following the economic recession of 2008-2009 and the Eurozone debt crisis of 2011-2012. As a result, these games have become popular leisure products among the public, leading to significant growth in Europe, North America, and APAC.

The online market for gambling is particularly well-developed and growing, with online players such as bet365, William Hill, and Entain. Moreover, many pureplay online vendors offer various gambling activities. The growth of online gambling from such players has also grown in countries such as the US, the UK, Italy, and China & SAR, where the ease of access to the internet and the convenience of gambling through such channels have enabled the growth of the consumer base in these countries. The cost-effectiveness of mobile applications has also attracted new players in the market.

Online Gambling Market Report Scope

Report Attributes	Details
Market Size (2028)	USD 213.58 Billion
Market Size (2022)	USD 105 Billion
CAGR (2022-2028)	12.56 %
Base Year	2022
Forecast Year	2023-2028
Market Segmentation	Product, Platform, and Geography
Geographic Analysis	North America, Europe, APAC, Latin America, and Middle East & Africa
Market Dynamics	· Growing Number of Live Casinos Worldwide · Increasing Gamification of the Online Gambling Market · Increased Focus on Online Strategy · Increasing Popularity Among Millennial & Gen Z Population

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Market Trends & Drivers

Growing Adoption of Augmented Reality and Virtual Reality in Gambling
Gambling is highly sensitive and responsive to new technologies and innovations. The unprecedented growth of online gambling activities, such as online casinos and betting, has propelled players in the online gambling market to adopt new technologies to survive the competition. One such technology which is widely making inroads into the industry is augmented reality and virtual reality. The gambling industry has the highest potential to use AR and VR technology in the future. Top gambling vendors would go for creating a VR casino environment during the forecast period. The implementation of AR technology provides online casinos with various options for improving and developing their gaming offerings. In casinos, this technology can introduce a range of new features. It can combine the best elements of live gaming and software with virtual reality add-ons and overlays to make a more engaging experience for its customers.

Growing Number of Live Casinos Worldwide
Live casinos have been very popular among gamblers worldwide. These casinos offer live dealers and real-time feeds that help replicate the experience and feel of a real-world land-based casino. These casinos are becoming popular among high-end paying customers who have been using real money in the past. Live casinos are gaining popularity worldwide, especially in the U.K., where online gambling has become very popular. Live casinos are gaining immense customer adoption, and major players such as Ladbrokes, William Hill, and Flutter Entertainment are already offering such an experience.

Increasing Gamification of the Online Gambling Industry

Most online casinos and gaming websites offer loyalty points as reward programs as a part of their gamification process, which takes customers' experiences to a new level. Player involvement in the casino community increases, and they get rewards that offer special bonus offers, new levels, additional casino credits, and the ability to learn badges. These loyalty programs have a multi-tier reward system, and each level offers better benefits.

Gamification of gambling is also termed better than the standard approaches of promotions by many industry experts. While the traditional casino bonus is an industry standard, the related terms and conditions can sometimes be unfavorable for customers. This often leads to players not clearing bonus offers as they feel they would not be rewarded well in the first place. On the other hand, gamification systems offer an alternative to the traditional wagering requirement-based approach. Gamification establishes a direct link between players' actions and the rewards they get. A well-implemented gamification program will give players an enjoyable experience and value, increasing players' retention rate for the casino. Arizton believes gamification of online gambling activities will help vendors retain players and increase their profitability.

Key Company Profiles

Bet365
Entain
Kindred
Flutter Entertainment
William Hill
AsianLogic
Betway
Betfred Group
Betsafe
Betsson
Bet-at-Home
Bwin
Caesars Interactive Entertainment
Camelot
Casino Cosmopol
CasinoEuro
Casinostugan
Casumo
Comeon
Expekt
Folkeautomaten
GameTwist
Genting Berhad
Interwetten
Jackpotjoy
Las Vegas Sands
LeoVegas
MGM Resorts International
Mobilbet
Green
mybet
Nordicbet
NordicAutomaten
Norsk Tipping
Onlinecasino Deutschland
Pinnacle
Playtech
Rank Group
SJM
Sky Bet
Sportech
StarGames
Sunmaker
Svenska Spel
Tipico
Vera&John
win2day
Wynn Resorts
1xBet
888 Group

Market Segmentation

Product

Casino
Lottery
Betting
Poker
Others

Platform

Desktop-based
Mobile
Others

Geography

Europe

The UK
Italy
Nordics

Sweden
Denmark
Norway
Finland

France
Germany
Spain

APAC

Australia
China

China SAR Hong Kong
Mainland China
China SAR Macau

Japan
India
Singapore

North America

The U.S.
Canada

Latin America

Brazil
Mexico
Colombia

Middle East & Africa

South Africa
Turkey

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Table of Content

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.4 MARKET SEGMENTS

4.4.1 MARKET SEGMENTATION BY PRODUCT

4.4.2 MARKET SEGMENTATION BY PLATFORM

4.4.3 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 MARKET AT A GLANCE

7 PREMIUM INSIGHTS

7.1 MARKET OVERVIEW

7.2 MARKET DYNAMICS: KEY TRENDS, DRIVERS, AND RESTRAINTS

7.2.1 MARKET TRENDS

7.2.2 MARKET ENABLERS

7.2.3 MARKET RESTRAINTS

7.3 SEGMENT ANALYSIS

7.4 GEOGRAPHICAL ANALYSIS

7.5 COMPETITIVE LANDSCAPE

7.6 ABOUT THE REPORT

8 INTRODUCTION

8.1 OVERVIEW

8.2 INCREASING SMARTPHONE PENETRATION

8.3 REGULATORY UPDATE

8.4 CONSUMER PREFERENCE

9 VALUE CHAIN ANALYSIS

9.1 SUPPLY CHAIN OVERVIEW

9.2 VALUE CHAIN ANALYSIS FOR ONLINE GAMBLING MARKET

9.2.1 SUPPLIERS

9.2.2 OPERATORS

9.2.3 AFFILIATES

9.2.4 END-USER

9.2.5 JURISDICTION

10 MARKET OPPORTUNITIES & TRENDS

10.1 GROWING ADOPTION OF AUGMENTED REALITY AND VIRTUAL REALITY IN GAMBLING

10.2 INCREASED BETTING ON ESPORTS

10.3 INCLUSION OF DIGITAL/CRYPTOCURRENCY AS STANDARD MONEY

10.4 INCREASING NUMBER OF INTERNET USERS

11 MARKET GROWTH ENABLERS

11.1 GROWING NUMBER OF LIVE CASINOS WORLDWIDE

11.2 INCREASING GAMIFICATION OF ONLINE GAMBLING INDUSTRY

11.3 INCREASED FOCUS ON ONLINE STRATEGY

11.4 INCREASING POPULARITY AMONG MILLENNIAL & GEN Z POPULATION

12 MARKET RESTRAINTS

12.1 ETHICAL CONCERNS

12.2 RISE IN TECHNICALITIES HINDERING GROWTH

12.3 STRINGENT REGULATIONS ACROSS REGIONS

13 MARKET LANDSCAPE

13.1 MARKET SIZE & FORECAST

13.2 FIVE FORCES ANALYSIS

13.2.1 THREAT OF NEW ENTRANTS

13.2.2 BARGAINING POWER OF SUPPLIERS

13.2.3 BARGAINING POWER OF BUYERS

13.2.4 THREAT OF SUBSTITUTES

13.2.5 COMPETITIVE RIVALRY

14 PRODUCT

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 CASINO

14.3.1 MARKET SIZE & FORECAST

14.3.2 MARKET BY GEOGRAPHY

14.4 LOTTERY

14.4.1 MARKET SIZE & FORECAST

14.4.2 MARKET BY GEOGRAPHY

14.5 BETTING

14.5.1 MARKET SIZE & FORECAST

14.5.2 MARKET BY GEOGRAPHY

14.6 POKER

14.6.1 MARKET SIZE & FORECAST

14.6.2 MARKET BY GEOGRAPHY

14.7 OTHERS

14.7.1 MARKET SIZE & FORECAST

14.7.2 MARKET BY GEOGRAPHY

15 PLATFORM

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 MARKET OVERVIEW

15.3 DESKTOP-BASED

15.3.1 MARKET SIZE & FORECAST

15.3.2 MARKET BY GEOGRAPHY

15.4 MOBILE

15.4.1 MARKET SIZE & FORECAST

15.4.2 MARKET BY GEOGRAPHY

15.5 OTHERS

15.5.1 MARKET SIZE & FORECAST

15.5.2 MARKET BY GEOGRAPHY

16 GEOGRAPHY

16.1 MARKET SNAPSHOT & GROWTH ENGINE

16.2 GEOGRAPHIC OVERVIEW

17 EUROPE

17.1 MARKET SIZE & FORECAST

17.2 PRODUCT

17.2.1 MARKET SIZE & FORECAST

17.3 PLATFORM

17.3.1 MARKET SIZE & FORECAST

17.4 KEY COUNTRIES

17.4.1 UK: MARKET SIZE & FORECAST

17.4.2 ITALY: MARKET SIZE & FORECAST

17.4.3 NORDIC: MARKET SIZE & FORECAST

17.4.4 NORDIC - SWEDEN: MARKET SIZE & FORECAST

17.4.5 NORDIC - DENMARK: MARKET SIZE & FORECAST

17.4.6 NORDIC - NORWAY: MARKET SIZE & FORECAST

17.4.7 NORDIC - FINLAND: MARKET SIZE & FORECAST

17.4.8 FRANCE: MARKET SIZE & FORECAST

17.4.9 GERMANY: MARKET SIZE & FORECAST

17.4.10 SPAIN: MARKET SIZE & FORECAST

18 APAC

18.1 MARKET SIZE & FORECAST

18.2 PRODUCT

18.2.1 MARKET SIZE & FORECAST

18.3 PLATFORM

18.3.1 MARKET SIZE & FORECAST

18.4 KEY COUNTRIES

18.4.1 AUSTRALIA: MARKET SIZE & FORECAST

18.4.2 CHINA: MARKET SIZE & FORECAST

18.4.3 CHINA SAR HONG KONG: MARKET SIZE & FORECAST

18.4.4 MAINLAND CHINA: MARKET SIZE & FORECAST

18.4.5 CHINA SAR MACAU: MARKET SIZE & FORECAST

18.4.6 JAPAN: MARKET SIZE & FORECAST

18.4.7 INDIA: MARKET SIZE & FORECAST

18.4.8 SINGAPORE: MARKET SIZE & FORECAST

19 NORTH AMERICA

19.1 MARKET SIZE & FORECAST

19.2 PRODUCT

19.2.1 MARKET SIZE & FORECAST

19.3 PLATFORM

19.3.1 MARKET SIZE & FORECAST

19.4 KEY COUNTRIES

19.4.1 US: MARKET SIZE & FORECAST

19.4.2 CANADA: MARKET SIZE & FORECAST

20 LATIN AMERICA

20.1 MARKET SIZE & FORECAST

20.2 PRODUCT

20.2.1 MARKET SIZE & FORECAST

20.3 PLATFORM

20.3.1 MARKET SIZE & FORECAST

20.4 KEY COUNTRIES

20.4.1 BRAZIL: MARKET SIZE & FORECAST

20.4.2 MEXICO: MARKET SIZE & FORECAST

20.4.3 COLOMBIA: MARKET SIZE & FORECAST

21 MIDDLE EAST & AFRICA

21.1 MARKET SIZE & FORECAST

21.2 PRODUCT

21.2.1 MARKET SIZE & FORECAST

21.3 PLATFORM

21.3.1 MARKET SIZE & FORECAST

21.4 KEY COUNTRIES

21.4.1 SOUTH AFRICA: MARKET SIZE & FORECAST

21.4.2 TURKEY: MARKET SIZE & FORECAST

22 COMPETITIVE LANDSCAPE

22.1 COMPETITION OVERVIEW

23 KEY COMPANY PROFILES

23.1 BET365

23.1.1 BUSINESS OVERVIEW

23.1.2 BET365 IN GLOBAL ONLINE GAMBLING MARKET

23.1.3 SERVICE OFFERINGS

23.1.4 KEY STRATEGIES

23.1.5 KEY STRENGTHS

23.1.6 KEY OPPORTUNITIES

23.2 ENTAIN

23.3 KINDRED

23.4 FLUTTER ENTERTAINMENT

23.5 WILLIAM HILL

24 OTHER PROMINENT VENDORS

24.1 ASIANLOGIC

24.1.1 BUSINESS OVERVIEW

24.1.2 SERVICE OFFERINGS

24.2 BETWAY

24.3 BETFRED GROUP

24.4 BETSAFE

24.5 BETSSON

24.6 BET-AT-HOME

24.7 BWIN

24.8 CAESARS INTERACTIVE ENTERTAINMENT

24.9 CAMELOT

24.10 CASINO COSMOPOL

24.11 CASINOEURO

24.12 CASINOSTUGAN

24.13 CASUMO

24.14 COMEON

24.15 EXPEKT

24.16 FOLKAUTOMATEN

24.17 GAMETWIST

24.18 GENTING BERHAD

24.19 INTERWETTEN

24.20 JACKPOTJOY

24.21 LAS VEGAS SANDS

24.22 LEOVEGAS

24.23 MGM RESORTS INTERNATIONAL

24.24 MOBILBET

24.25 MR. GREEN

24.26 MYBET

24.27 NORDICBET

24.28 NORDICAUTOMATEN

24.29 NORSK TIPPING

24.30 ONLINECASINO DEUTSCHLAND

24.31 PINNACLE

24.32 PLAYTECH

24.33 RANK GROUP

24.34 SJM

24.35 SKY BET

24.36 SPORTECH

24.37 STARGAMES

24.38 SUNMAKER

24.39 SVENSKA SPEL

24.40 TIPICO

24.41 VERA&JOHN

24.42 WIN2DAY

24.43 WYNN RESORTS

24.44 1XBET

24.45 888 GROUP

25 REPORT SUMMARY

25.1 KEY TAKEAWAYS

25.2 STRATEGIC RECOMMENDATIONS

26 QUANTITATIVE SUMMARY

26.1 MARKET BY GEOGRAPHY

26.2 EUROPE

26.2.1 PRODUCT

26.2.2 PLATFORM

26.3 APAC

26.3.1 PRODUCT

26.3.2 PLATFORM

26.4 NORTH AMERICA

26.4.1 PRODUCT

26.4.2 PLATFORM

26.5 LATIN AMERICA

26.5.1 PRODUCT

26.5.2 PLATFORM

26.6 MIDDLE EAST & AFRICA

26.6.1 PRODUCT

26.6.2 PLATFORM

26.7 PRODUCT

26.7.1 CASINO

26.7.2 LOTTERY

26.7.3 BETTING

26.7.4 POKER

26.7.5 OTHERS

26.8 PLATFORM

26.8.1 DESKTOP-BASED

26.8.2 MOBILE

26.8.3 OTHERS

27 APPENDIX

27.1 ABBREVIATIONS

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