NEW YORK, July 12, 2023 /PRNewswire/ — The gambling market size is set to grow by USD 260.44 billion between 2022 and 2027 and register a CAGR of 7.1%, according to Technavio’s latest market research report. North America is expected to contribute 37% to the development of the global market. The demand for online gambling in the region is growing at a rapid pace because of the rise in the number of mobile application platforms. Previously, the adoption of online-based gambling games, such as online poker, online bingo, and online lottery, was limited because of the lack of availability of online platforms, such as web applications and mobile applications. The increasing use of websites and applications for online gambling and the rising penetration of smartphones has enabled vendors to launch online-based gambling games, which is expected to fuel the demand for online gambling in North America, fostering the further growth of the market in focus during the forecast period. For Comprehensive details on the market size of the historic period(2017 to 2021) and forecast period (2023-2027) – View Sample report

Gambling Market – Vendor Landscape
The gambling market is fragmented; the vendors are competing with competitors and are trying to get a greater market share. The market is growing, and the chances of new entrants cannot be overlooked. The major vendors have well-established economies of scale and market presence and generally rely on positioning technological advances, and the price of the products –The report provides a full list of key vendors, their strategies, and the latest developments. Buy Now

Gambling Market – Market Dynamics

Major Drivers & Challenges- 

The increasing betting on e-sports is driving the growth of the market. The market for e-sports is growing at a rapid pace. This is because of the big prize money associated with them, which is attracting a large number of customers. Hence, during the forecast period, many players in the gambling industry are expected to shift their focus toward e-sports games and come up with new offerings to attract customers. All these factors will drive the growth of the global gambling market over the forecast period.

The security and credibility issues associated with online gambling is the major challenge impeding the market. Many gambling websites do not offer complete transparency in cash payouts and do not have fair and responsible casino gaming standards. This reduces the credibility of gambling operators and platform service providers, which, in turn, is discouraging new users to participate in gambling games. Also, online gambling operators need to devise a security framework that covers cryptographic techniques, software protection, and vulnerability scanning. Many such challenges are expected to hinder the growth potential of the global gambling market during the forecast period.

Key Trends–

The introduction of Bitcoin-based gambling is the key trend in the market. Cryptocurrencies such as bitcoin offer several advantages over regular currency such as secure international transactions, easy deposits and withdrawals, low fraud risks, and zero transaction fees. For instance, Bitcasino.io, a subsidiary of mBet Solutions NV, offers gambling services such as Bitcoin slots and table games and enables users to make transactions through bitcoins. The availability of such transactions is resulting in customer satisfaction and enhanced online gambling experience. This trend is expected to positively influence the growth of the global gambling market during the forecast period.

Technavio has identified key trends, drivers, and challenges in the market, which will help clients improve their strategies to stay ahead of their competitors. – View Sample Report

Company Profiles

The gambling market report includes information on the product launches, sustainability, and prospects of leading vendors, including 888 Holdings plc, Bet365 Group Ltd., Betsson AB, Caesars Entertainment Inc., Camelot UK Lotteries Ltd., Crown Resorts Ltd., Entain Plc, EquiLottery LLC, Flutter Entertainment Plc, Freaks 4U Gaming GmbH, Galaxy Entertainment Group Ltd., Gateway Casinos and Entertainment Ltd., International Game Technology plc, INTRALOT SA, Kindred Group Plc, Las Vegas Sands Corp., MGM Resorts International, New York State Gaming Commission, SkyCity Entertainment Group, and The Betway Group.

Competitive Analysis

The report includes competitive analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share, among others.

Gambling Market – Market Segmentation

This report extensively covers market segmentation by type (lottery, betting, and casino), platform (online and offline) and geography (APAC, North America, Europe, Middle East and Africa, and South America).

• The lottery segment will be higher than the other segments during the forecast period. Factors such as increasing prize money for lottery games and the introduction of new terminal-based games, scratch-off games, and sports lotteries are driving the growth of the lottery segment. In addition, major vendors are introducing new lottery systems to expand their customer base, which is further contributing to the segment’s growth.

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The Global Online Gambling Market Size is estimated to grow at a CAGR of 11.03% between 2022 and 2027. The size of the market is forecast to increase by USD 150.5 billion. This report extensively covers market segmentation by device (desktop and mobile), product (lottery, betting, and casino), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The growing demand for mobile gambling is notably driving market growth.

The casinos and gambling market is estimated to grow at a CAGR of 8.13% between 2022 and 2027. The size of the market is forecast to increase by USD 90.22 billion. This report extensively covers market segmentation by platform (offline and online), type (poker, blackjack, craps, lottery, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa). The growing popularity of online gambling is a key factor behind the growth of the global casino and gambling market.

Table of Contents

1 Executive Summary

• 1.1 Market overview

2 Market Landscape

• 2.1 Market ecosystem

3 Market Sizing

• 3.1 Market definition

• 3.3 Market size 2022

4 Historic Market Size

5 Five Forces Analysis

• 5.1 Five forces summary

• 5.6 Threat of rivalry

• 5.7 Market condition

6 Market Segmentation by Type

• 6.1 Market segments

• 6.2 Comparison by Type

7 Market Segmentation by Platform

• 7.1 Market segments

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape

• 11.4 Industry risks

12 Vendor Analysis

• 12.1 Vendors covered

• 12.3 888 Holdings plc

• 12.4 Bet365 Group Ltd.

• 12.5 Betsson AB

• 12.8 Entain Plc

• 12.9 EquiLottery LLC

• 12.15 INTRALOT SA

• 12.16 Kindred Group Plc

13 Appendix

• 13.1 Scope of the report

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