Market
Synopsis
As per the
analysis by Market Research Future Reports (MRFR), the global online gambling market is estimated
to value USD 50.85 billion, with a CAGR of 13.2 % during the review period.
However, there has been a change in the global online gambling market 2020 due
to the outbreak of COVID-19. We will provide COVID-19 impact analysis with
report. As per the analysis, the traffic of gambling resources has elevated by
10 to 15%. The online gambling market increased significantly in March 2020. Online
gambling has resulted in being a substantial revenue-generating resource for
governments. Some of the countries have decided to take advantage of the
booming popularity of online gambling platforms. For example, Belarus
officially announced to make online gambling legal. However, the market
experienced a downfall in April due to the implementation of strict online
gambling rules.
Online casinos
and poker are some of the most popular games in the online gambling market.
With the rapid advancement in mobile apps and the Internet of Things (IoT), the
online gambling market has shown a significant expansion concerning the number
of users. Because of seamless internet connectivity, online gambling platforms
have started functioning efficiently. This factor has assisted in augmenting
the expansion of the market. Online gambling companies are spending enormously
to innovate the platform.
Market Segmentation
The global online gambling market can be segregated on the basis of
device type, end-user, game type, and regions.
On the basis of
device type, the global online gambling market can be classified into mobile and desktop.
On the basis of
end-users, the global online gambling market can be classified into social exuberant, gambling enthusiasts, and dabbles.
On the basis of
game type, the global online gambling market can be classified into the casino, betting, poker, online bingo, lottery, and
others.
On the basis of
region, the global online gambling market can be classified into Asia-Pacific,
North America, Europe, the Middle East & Africa, and South America.
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Regional
Analysis
The
geographical analysis of Asia-Pacific, North America, Europe, the Middle East
& Africa, and South America has been conducted. As per the analysis by the
MRFR, Europe dominates the global market in terms of market share since the
companies established in the region are technically advanced. Besides that,
governments of the region have implemented supportive rules and regulations,
which further propels the market. Additionally, the largest global online
gambling companies are situated in the European region. On the other hand, the APAC
region is estimated to record the highest CAGR during the forecast period.
There has been sudden popularity of mobile gambling and an increase in foreign
investment, which further propels the APAC market.
However, there
has been a change in market dynamics due to the outbreak of COVID-19. The
countries which have benefitted during the pandemic are Spain, Italy, the
Philippines, the US, India, and Georgia.
Key
Players
The forefront
players of the global online gambling market are The
Stars Group (Canada), International
Game Technology PLC (US), Betsson AB (Sweden), Net Entertainment
(Sweden), Kindred Group Plc (Malta), Paddy Power Betfair PLC (Ireland),
Ladbrokes Betting & Gaming Ltd.(UK), 888 Holdings PLC (UK),
Bet-at-home.com (UK), Betfair Group plc. (UK), Bwin. Party Digital
Entertainment (Austria), William Hill Plc (UK), bet365 (UK),
Scientific Games (US), VGC Holdings PLC (Isle of Man), Betway (Europe), Spin
Inc. (US), and Royal Panda (Europe).
Industry
News
May
2020
The
Ukrainian court has ordered internet service providers (ISPs) to block access
to 59 online gambling websites based on the evidence provided by the Security
Service of Ukraine (SBU).
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