Online Gambling Market to Grow by USD 181.47 Billion (2023-2028), Report on AI Redefining Market Landscape - Technavio

NEW YORK, Dec. 13, 2024 /PRNewswire/ -- Report with market evolution powered by AI - The global online gambling market size is estimated to grow by USD 181.47 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of over 11.96% during the forecast period. The report provides a comprehensive forecast of key segments below- 

Segmentation Overview

1. Device 
• 1.1 Desktop
• 1.2 Mobile
2. Product 
• 2.1 Lottery
• 2.2 Betting
• 2.3 Casino
3. Geography 
• 3.1 North America
• 3.2 APAC
• 3.3 Europe
• 3.4 South America
• 3.5 Middle East and Africa

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1.1 Fastest growing segment:

The desktop segment holds a substantial share in the global online gambling market, providing a convenient platform for users to enjoy various forms of betting and gaming. Desktop devices, including personal computers and laptops, offer advanced capabilities and expansive interfaces for accessing virtual casinos, sports betting platforms, poker rooms, and other online gambling services. Notable online casinos like 888 Casino and Betway provide feature-rich desktop platforms with a diverse range of games, such as slots, roulette, and blackjack, along with live dealer options. Desktop devices' enhanced processing capabilities are crucial for high-stakes activities like live sports betting, where real-time data and video feeds are essential for informed decisions. The desktop segment caters to users seeking a comprehensive gambling experience, offering expansive lobbies, advanced graphics, and interactive interfaces. Desktop-specific promotions and loyalty programs incentivize continued engagement from users, providing exclusive bonuses, specialized tournaments, and targeted rewards based on desktop-specific gameplay metrics. These advantages position the desktop segment for growth in the global online gambling market.

Analyst Review

The online gambling market has experienced significant growth in recent years, with many consumers turning to the convenience and accessibility of playing casino games, slots, and poker from the comfort of their own homes. In countries like Great Britain, the popularity of online gambling continues to rise. The market includes various platforms offering various games, such as OpenSports for sports betting and Betway for casino and poker. Virtual Reality (VR) technology is also making waves in the industry, with companies like Bet365 and Entain PLC experimenting with gaming experiences. Payment options like Neteller have simplified transactions, while sponsorships with organizations like the Argentine Football Association and FIFA World Cup add credibility. Films have also played a role in popularizing online gambling, showcasing the excitement and potential winnings. Regardless, responsible gambling practices are essential to ensure a safe and enjoyable experience for all players.

Market Overview

Online gambling has seen significant growth in recent years, with land-based casinos facing increasing competition from the digital world. Casino gambling, including slots, poker, and sports betting, has become more accessible than ever before, thanks to advancements in technology. Great Britain is a major market for online gambling, with companies like Kindred, GAME, and Betway leading the charge. Artificial Intelligence (AI) and user experience are key focus areas, ensuring convenient payment options and personalized experiences for players. Virtual and augmented reality are also transforming the industry, with Bet365 and Flutter Entertainment PLC at the forefront. However, concerns around mental health, pathological gambling, and chronic stress remain, with sponsorships and gambling bans a contentious issue. Blockchain and online payment solutions like Neteller are revolutionizing transactions, while product innovations from Betsson AB, Gaming Realms, and others continue to push the boundaries. The FIFA World Cup, European Championships, and major sports leagues like the Argentine Football Association and SA20 are popular betting events, while films and television programs add to the entertainment value. Mobile gambling, fueled by smartphones, is a growing trend, with Iowa's Casino Queen Marquette and other land-based casinos exploring digital opportunities. Internet technology and digital gambling continue to attract internet users in their millions, making it an exciting and dynamic industry to watch.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio