The online gambling market is expected to register a CAGR of 11. 49% during the forecast period, 2021-2026. The COVID-19 pandemic positively impacted the market, as consumers turned more toward the online platform to bridge their financial, social, and psychological crisis during lockdowns.
New York, Oct. 27, 2021 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Online Gambling Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” – https://www.reportlinker.com/p06177343/?utm_source=GNW
One of the research conducted by the Lund University, Sweden, found that due to restrictions in sports events due to lockdowns, consumers have surged their interest in online gambling platforms. Moreover, in response to the closure of many gambling establishments, several operators went digital. Many players expanded their online gambling offerings, and bingo operators moved their offerings online, which positively impacted the market.
Over the medium term, online betting is expected to be the fastest-growing segment. Artificial intelligence, Chabot, and machine learning have taken over the market. The rise in the number of the female population in casinos and the convenience of the cashless mode of payment during gaming are likely to boost the online gambling market during the forecast period. Furthermore, operators are creating a variety of interesting tournaments and promotions, which might be interesting to beginners. Bonus programs are growing every day, along with more betting opportunities.
Online gambling companies are likely to expand their sport betting options after sports betting was legalized in the United States by the Supreme Court in 2018, which is further supporting the market’s growth. However, the increasing presence of online casino scams, and stringent regulations in certain countries of the world related to online gambling are expected to hinder the market growth rate.
Key Market Trends
Football Betting Holds a Prominent Share
The online betting segment is predominantly applied in the sports category, especially in football events, such as FIFA World Cup and European Championships. Many of the online sports betting companies are sponsoring different teams as a part of their marketing initiatives and strategic expansions. For instance, the Bwin brand, a pioneering online sports brand across Continental Europe, attained […]
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