Online betting is one of the fastest-growing segments while the mobile gambling market aims for global growth in the ongoing forecast period.
New York, USA, May 25, 2023 (GLOBE NEWSWIRE) — According to the market research report by Market Research Future (MRFR), “Mobile Gambling Market Information by Type, End-User, and Region – Forecast till 2030”, the marker of Mobile Gambling could thrive at a rate of 12.10% between 2022 and 2030. The market size will be reaching around USD 154.81 billion by the end of the year 2030.
Market Synopsis:
Mobile gambling, also known as mobile gaming, refers to playing games of chance or betting on sports events using a mobile device such as a smartphone or a tablet. It allows players to place bets or play casino games from anywhere, anytime, if they have an internet connection. Mobile gambling has become increasingly popular in recent years, as mobile devices have become more advanced and internet access has become more widely available.
Mobile gambling has a wide range of uses and applications, from traditional casino games like blackjack and slots to sports betting and online lotteries. It allows players to access their favourite games and place bets on the go, making it convenient and accessible for players worldwide. In addition, mobile gambling has also expanded to include social gambling, where players can compete against each other in games of skill and strategy.
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Market Competitive Landscape:
The affluent companies in the Mobile Gambling industry include.
Scope of the Report – Mobile Gambling Market:
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Report Metrics |
Details |
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Market Size by 2030 |
USD 154.81 Billion |
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CAGR during 2022-2030 |
12.10% |
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Base Year |
2019 |
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Forecast |
2020–2030 |
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Key Market Dynamics |
Online betting is one of the fastest-growing segments while the market aims for global growth in the ongoing forecast period. |
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Latest Industry Updates (May 2021):
BetMGM, a leading mobile gambling platform in the United States, announced a partnership with the Pittsburgh Steelers to become the team’s official sports betting partner. This partnership includes a new in-stadium BetMGM lounge and other game-day experiences for fans. This move represents a significant step forward for BetMGM, which has been expanding its presence in the US market in recent years.
Market USP Covered:
Market Drivers:
The mobile gambling market is being driven by several factors, including the increasing adoption of smartphones and tablets, the expansion of internet access worldwide, and the growing number of countries legalizing online gambling. In addition, the rise of social gambling and the popularity of esports betting are also contributing to the growth of the mobile gambling industry.
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Market Restraints:
The mobile gambling market also faces some challenges, including regulatory issues and concerns about addiction and responsible gambling. Many countries have strict laws and regulations regarding online gambling, which can limit the growth of the mobile gambling market. In addition, some players may become addicted to gambling and suffer from negative consequences, such as financial problems and mental health issues.
COVID 19 Analysis:
The COVID-19 pandemic has had a significant impact on the mobile gambling market, as many people have turned to online gambling while physical casinos and betting shops were closed. The pandemic has accelerated the shift towards mobile and online gambling, and this trend is expected to continue even after the pandemic is over. As a result, many companies in the mobile gambling industry have reported strong growth and increased revenue in recent years.
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Market Segmentation:
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By Type – The Types in the market include Casinos, Betting, Poker, Lottery, Online Bingo, and others.
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By End-User – By End-User, the segment includes Gambling Enthusiasts, Social Exuberant and others.
Regional Insights:
North America is one of the largest markets for mobile gambling, primarily due to the presence of a large number of established players in the region and the increasing adoption of mobile devices for gambling activities. The US is the largest market in the region, followed by Canada and Mexico. The market is also characterized by a high degree of government regulation and strict standards for online gambling activities. Further, Europe is also a significant market for mobile gambling, with a growing demand for mobile gaming and the increasing adoption of digital technologies. The market is primarily dominated by countries such as the UK, Germany, and France. The region is characterized by a highly regulated business environment, with strict data protection and privacy regulations.
Additionally, the Asia-Pacific market is expected to grow at a rapid pace in the coming years, driven by factors such as the increasing adoption of mobile devices and the growing popularity of online gaming. China, India, and Japan are the largest markets in the region, and the market is expected to continue to grow in other countries as well. However, the region is also characterized by significant variations in regulatory frameworks, cultural norms, and technological infrastructure, which present unique challenges for companies operating in the market.
Overall, the mobile gambling market is expected to continue to grow in all three regions, driven by factors such as the increasing adoption of mobile devices and the growing popularity of online gaming. However, companies operating in the market must also be aware of the unique characteristics and challenges of each region in order to succeed.
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