According to a new market research report published by Credence Research “Online Gambling and Betting Market (Type – Online Sports Betting, Online Casino Games, Online Card Games, Fantasy Sports, Lotteries and Social Gaming; Platform – Web-based and Downloadable) – Growth, Future Prospects and Competitive Analysis, 2017 – 2025”, the global online gambling and betting market is set to cross the US$ 60 Bn mark by 2025.
Online gambling and betting, also known as internet gambling, is betting on casino games or sports over the internet. Apart from online sports betting, some of the popular games include poker, slots, bingo, roulette, lotteries and keno.
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Online gambling and betting has witnessed profound proliferation (in specific regions) over the past 8-10 years. Easy accessibility of these games and lure of easy money are the prime factors fueling the overall online gambling and betting market growth. Nevertheless, the overall market is still in its nascent stage having significant regulations.
The overall online gambling and betting market is highly driven by the continual growth in the internet infrastructure along with the strong penetration of mobile devices. Rising proliferation of mobile applications (mobile apps) has widened the avenue for the overall market growth. With the consistent rise observed across the internet usage and online streaming & gaming, the market is set to exhibit robust growth in the following years. Nevertheless, the most prominent factor inhibiting the market growth is the huge set of regulations surrounding the market. Major countries including India and China have online gambling/betting illegal, restricting the market growth. Additionally, several countries have unregulated online gambling and betting sector, further complicating the market growth.
The overall online gambling and betting market is segmented on the basis of types and platform. On the basis of types, the market is segmented into online casino games (bingo, slots, roulette, keno etc.), card games (poker, blackjack, baccarat etc.), online sports betting, fantasy sports, lotteries and social gaming. Based on the type of platform, the market is segmented into web-based online gambling/betting and downloadable online gambling/betting.
On the basis of geographic regions, the market is classified into North America, Europe, Asia Pacific and rest of the world (RoW). As of 2016, Europe dominates the overall online gambling and betting market. The region is home to the highest number of online gambling operators with minimal regulations as compared to other regions. Subsequently, Europe is set to remain the dominant market for online gambling and betting throughout the forecast period.
Some of the major players operating in the market include 888 Holdings Plc., NetEnt AB, Fortuna Entertainment Group, GVC Holdings Plc., Kindred Plc., Bwin Interactive Entertainment AG, Betsson Group, Ladbrokes Coral Group Plc., Playtech Plc., William Hill Plc., Amaya, Inc. and Paddy Power Betfair Plc. among others.
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