Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) — The “Global Online Gambling Market – Market Size & Forecast to 2032” report has been added to ResearchAndMarkets.com’s offering.
The global online gambling market, standing at a commendable USD 65.2 billion in 2023, is projected to grow at a CAGR of 12.8% from 2023 to 2032. This growth can be attributed to several factors ranging from the sweeping wave of legalization to the rise in smartphone and internet penetration.
> Nature of Online Gambling: Online gambling is essentially any form of gambling activity conducted via the Internet. It encompasses a wide array of activities, be it sports betting, online poker, or various other games of chance.
Growth Catalysts: Legalization: The transition from illicit to legitimate, as seen with Maine’s legalizing of sports betting in May 2022, has given impetus to the online gambling market.
Technological Advancements: The rise in smartphone usage and internet accessibility has played a pivotal role in expanding the online gambling user base.
Endorsements: The backing of corporate sponsorships and celebrity faces has infused trust and interest in the market.
Market Segmentation: The online gambling market can be primarily categorized based on: Type: It spans across poker, casino, sports betting, and lottery. Each of these categories has sub-categories, like the various forms of poker (7 card stud, Omaha) or the different types of casino games (slots, blackjack, roulette). Device: The market can be divided into desktop, mobile, and others, with a noted preference for the former two due to the convenience they offer. Region: Europe, having the lion’s share, is followed by regions like North America, Asia Pacific, Africa, and South America. Regional Analysis: Europe: Being the reigning king of the online gambling market, it owes much of its success to the lax laws in countries like the UK, France, and Germany. The UK, in particular, has seen a surge in online gaming service providers. Asia Pacific: This region holds immense growth potential, with factors like increased smartphone adoption and internet connectivity acting as growth accelerators. Market Dynamics: Drivers: The primary […]