DUBLIN–( BUSINESS WIRE )–The “Global Online Gambling Market Outlook, 2028” report has been added to ResearchAndMarkets.com’s offering.
The global online gambling market is on an upward trajectory, with an anticipated size surpassing USD 179 Billion, a substantial increase from USD 94.17 Billion in 2022, according to this research report.
Technological Innovations and Increased Investment Drive Growth
A significant boost in the online gambling market can be attributed to the growing demand for cost-effective payment mechanisms. The introduction of virtual and augmented reality is another key driver pushing investments in online gambling. The market is ripe with investment opportunities, attracting professional players to invest in sports betting and stocks of prominent online gambling companies.
Shift from Traditional to Online Casinos
The preference for online live casinos over traditional land-based casinos, especially in regions where both options are legal, is a catalyst for market growth. The migration of players from traditional to online gambling is creating profitable prospects for online casino operators. Players favor live casinos for their real-time engagement, live dealer interactions, and convenience, allowing games to be played anywhere and at any time.
Regional Insights and Growth Patterns
The global online gambling market is geographically segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. Europe has taken the lead in 2022, capturing over 40% of the market share, followed by North America and Asia-Pacific. North America is projected to witness the highest CAGR during the forecast period, followed by South America and Asia-Pacific. The relaxation of restrictions on online gambling, coupled with increased internet access, is expected to drive market growth in Asia-Pacific, particularly in countries such as China, India, and Japan.
Segmented Market Opportunities The market can be categorized into segments such as sports betting, casinos, poker, bingo, and lottery. Poker is predicted to lead the market growth during the forecast period. Although the sports betting segment held the largest share of the market in 2022, the poker segment is expected to grow at a faster rate due to its popularity among virtual card game enthusiasts. The convenience of digital platforms, diverse payment options, […]
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