Global Gambling Market, By Type (Casino, Betting, Poker, Lottery, Online Bingo, Others), End-User (Gambling Enthusiasts, Social Exuberant, Others), Channel Type (Offline Gambling, Online Gambling, Virtual Reality (VR) Gambling) – Industry Trends and Forecast to 2029.
Global Gambling Market Analysis and Size
Over the last few years, there has been immense growth in participation in gambling activities. Additionally, with the transition from console to mobile, participation in gambling has surged rapidly. In recent decades, legal gambling has become a major phenomenon in various countries, including the United States. The fact that over 80% of American adults bet at least once in their lifetime puts the popularity of gambling in the country into perspective. Therefore, the market is estimated to grow rapidly over forecast period of 2022 to 2029.
- The gambling market was valued at USD 4.90 billion in 2021 and is expected to reach USD 7.51 billion by 2029, registering a CAGR of 5.5% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and consumer behavior.
Global Gambling Market Definition
Gambling includes activities such as betting, lottery, and bingo, among others, in addition to the transfer of money and resources via many hands. The major competitors in the worldwide market are improving their operations and introducing new programs in order to entice a broader audience to test what they have to offer. In addition, the players are legitimizing their business by providing clean, authentic services that cannot be questioned. Furthermore, the market is being promoted exclusively for the sake of enjoyment and entertainment, and nothing illegal is being done.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Type (Casino, Betting, Poker, Lottery, Online Bingo, Others), End-User (Gambling Enthusiasts, Social Exuberant, Others), Channel Type (Offline Gambling, Online Gambling, Virtual Reality (VR) Gambling)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Kindred Group PLC (Malta), Flutter Entertainment plc (Ireland), NetEnt AB (publ). (Sweden), Betsson AB (publ)(Sweden), Ladbrokes Betting & Gaming Ltd. (UK), and 888 Holdings (UK), Lottery.hk (China), The Hong Kong Jockey Club (China), MGM Resorts International (U.S.), Crown Resorts Limited (Australia), Caesars Entertainment (U.S.), Las Vegas Sands Corporation (U.S.), Melco International Development Limited (China), Genting Berhad (Malaysia), Wynn Resorts Holdings, LLC (U.S.) and Galaxy Entertainment Group Limited (China)
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Market Opportunities
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Gambling Market Dynamics
Drivers
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High Indulgence in Gambling
The population of many worldwide locations is increasing, and the millennial generation is constantly eager to do new and difficult activities. One of them is gambling. Gambling basically provides tremendous incentives in the form of power, guaranteed returns, and bonuses as a source of enjoyment and pass time, which is projected to create outstanding demand for gambling services during the forecasted period.
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Surging Legalized Gambling
Gambling has also evolved into a sophisticated and fashionable kind of entertainment in the present era of glamorous casino environments. Legalized gambling also provides financial benefits to governments in the form of tax income and profits for gambling facilities and communities. As a result, legal gambling has been increasingly popular in several countries, including the United States, in recent decades.
The increasing inclination towards gambling to escape from everyday stress and boredom will further propel the growth rate of gambling market. Additionally, the growth in female gamblers along with the rapid urbanization will also drive market value growth over forecast period. Furthermore, the availability of low-cost mobile applications, increased digitization, a variety of safe digital payment alternatives, an increase in disposable money and increased use of digital currencies and websites also boost the overall market’s growth.
Opportunities
- Advancements and Investments
Furthermore, the advances in the field of mobile technology coupled with better accessibility and connectivity further extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Additionally, the investing in gambling games that use AR and VR technology coupled with the introduction of hybrid games to drive engagement will further expand the future growth of the gambling market.
Restraints/Challenges Global Gambling Market
- Adverse Effects of Gambling
However, some segments of the intended population are becoming gambling addicts. To satisfy their desire to win big, they invest large sums of money in the game and its numerous divisions, but to no avail. The loss is significant, causing people to become financially burdened and, as a result, fall into debt traps. This factor will create hindrances for the growth of the gambling market.
- Stringent Regulations Associated with Gambling
The government is intervening by imposing restrictions to reduce such repercussions and bad effects associated with the mobile gambling industry services. The governments of various global players across the globe are formulating stringent regulations that are will prove to be a demerit for the gambling market. Therefore, this factor is anticipated to challenge the gambling market growth rate.
This gambling market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the gambling market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Gambling Market
The recent outbreak of coronavirus had a huge impact on the gambling market. Tourists and locals are important revenue generators for brick-and-mortar casinos, therefore revenues have dropped. Unemployment and lower consumer discretionary income are also stumbling blocks to a quick recovery. Furthermore, because slot machines at venues such as hotels and airports account for a substantial portion of gambling revenue, their closures have an impact on revenue production in these regions. In comparison to the previous year, lockdowns have resulted in huge income losses. The casino industry is also hampered by the pandemic's influence on the tourism and leisure sectors, as well as air travel, which are critical for the company's growth.
On the brighter side, the period following COVID-19 will provide interesting chances for mobile gambling. Mobile gambling is a tempting choice for gamers because mobile devices provide advanced features and are simple to use. Because the majority of casino game providers offer a wide range of alternatives, players can use these platforms at any time and from any location without having to wait for their computers to boot up. Mobile technology advancements, combined with improved accessibility and connectivity, have allowed a huge number of players to participate in remote gambling. Mobile gambling is likely to emerge as a rapidly increasing platform, thanks to the quick transfer from console to mobile.
Recent Development
- In August 2021, DraftKings Inc. and Golden Nugget Online Gaming Inc. have reached an agreement in which DraftKings will acquire Golden Nugget Online Gaming in an all-stock transaction. DraftKings was able to take use of Golden Nugget's well-known brand, iGaming product experience, and combined database of more than 5 million customers as a result of the acquisition.
- In March 2021, The market-leading sports betting and gaming platform Audacy, formerly Entercom Communications Corp., announced a multi-year deal with Entain PLC's BetMGM, designating the market-leading sports betting and gaming platform as preferred sports betting partner of Audacy across its best-in-class sports broadcast stations, the Audacy and Bet QL apps and digital platforms, and the "BetQL Audio Network."
- In July 2021, The FanDuel Group, which is owned by Flutter Entertainment PLC, has launched FanDuel Casino in New Jersey and Michigan. Customers may now play live dealer blackjack, roulette, and baccarat at FanDuel Casino.
Global Gambling Market Scope
The gambling market is segmented on the basis of type, end user and channel type. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Casino
- Betting
- Poker
- Lottery
- Online Bingo
- Others
On the basis of type, the gambling market has been segmented into casino, betting, poker, lottery, online bingo and others. Betting is further segmented into football, horse racing, e-sports and others. Casino is further segmented into live casino, baccarat, blackjack, poker, slots and others.
End-User
- Gambling Enthusiasts
- Social Exuberant
- Others
The gambling market has also been segmented on the basis of end-user into gambling enthusiasts, social exuberant and others.
Channel Type
- Offline Gambling
- Online Gambling
- Virtual Reality (VR) Gambling
On the basis of channel type, the gambling market is segmented into offline gambling, online gambling and virtual reality (VR) gambling.
Gambling Market Regional Analysis/Insights
The gambling market is analyzed and market size insights and trends are provided by country, type, end user and channel type as referenced above.
The countries covered in the gambling market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the gambling market because of the increasing regularization of online gambling as the laws allow for online casinos, online poker, sports betting and more within the region.
Asia-Pacific on the other hand, is estimated to show lucrative growth during the forecast period of 2022 to 2029 due to the increasing inclination towards gambling along with factors such as the availability of low-cost mobile applications and increased digitization in the emerging economies in the region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Gambling Market Share Analysis
The gambling market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to gambling market.
Some of the major players operating in the gambling market are
- Kindred Group plc (Malta)
- Flutter Entertainment plc (Ireland)
- NetEnt AB (publ) (Sweden)
- Betsson AB (publ)(Sweden)
- Ladbrokes Betting & Gaming Ltd. (UK)
- 888 Holdings (UK)
- Lottery.hk (China)
- The Hong Kong Jockey Club (China)
- MGM Resorts International (U.S.)
- Crown Resorts Limited (Australia)
- Caesars Entertainment (U.S.)
- Las Vegas Sands Corporation (U.S.)
- Melco International Development Limited (China)
- Genting Berhad (Malaysia)
- Wynn Resorts Holdings, LLC (U.S.)
- Galaxy Entertainment Group Limited (China)
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