Online Gambling Market to Grow by USD 181.47 Billion (2024-2028) with Growing Adoption of Digital Technologies Boosting the Market, Report on Market Evolution Powered by AI - Technavio

NEW YORK, Feb. 6, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The global online gambling market size is estimated to grow by USD 181.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 11.96%  during the forecast period. Growing adoption of digital technologies is driving market growth, with a trend towards emergence of innovative features such as live betting, VR, and AR experiences. However, growing online data security issues  poses a challenge. Key market players include 1XBet, 888 Holdings Plc, Ballys Corp., Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Camelot UK Lotteries Ltd., Cherry Spelgladje AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, Fortuna Entertainment Group AS, INTRALOT SA, Kindred Group Plc, MGM Resorts International, Rank Group Plc, Scientific Games LLC, Sportech Plc, Sportpesa, Super Group SGHC Ltd., The Stars Group Inc., Winamax, and Galaxy Entertainment Group Ltd..

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Market Driver

The online gambling market is thriving, with a significant shift from land-based casinos to casino gambling via the internet. Slots and poker are popular choices, with companies like Kindred, Betway, and Entain PLC leading the way. Sports betting, fueled by global events like the FIFA World Cup and European Championships, is also booming. AI and VR technologies enhance user experience, while convenient payment options like Neteller and OpenSports simplify transactions. Sponsorships with entities like the Argentine Football Association and SA20 add credibility. Product innovations, such as Slingo Rainbow Riches and Lobstermania, engage users. However, concerns around mental health, including pathological gambling and chronic stress, require responsible gaming measures. Regulatory bodies like the Telecommunications Regulatory Authority oversee the industry's growth. Mobile gambling on smartphones, especially in regions like Iowa, continues to expand with the help of internet technology. Blockchain and online payment systems further secure transactions. Digital gambling continues to evolve, with streaming content and films adding to its appeal. 

The online gambling market has seen significant growth with the introduction of innovative features like live betting, Virtual Reality (VR), and Augmented Reality (AR) experiences. These advancements have transformed the industry, providing users with a more interactive and engaging betting and gaming environment. Live betting, or in-play betting, has become increasingly popular, enabling real-time wagers on sports events and casino games. This feature offers users the ability to respond dynamically to the evolving action, adding excitement and convenience to their online gambling experience. The integration of VR and AR technologies further enhances the nature of online gambling, making it a more technologically advanced and entertaining option for modern users. 

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 Market Challenges

• The online gambling market is experiencing rapid growth, surpassing land-based casinos with its convenience and accessibility. Casino gambling, slots, poker, and sports betting are popular categories. Companies like Kindred, Betway, and Entain PLC lead the industry. AI and VR technologies enhance user experience. Convenient payment options, such as Neteller and OpenSports, are essential. Major sports events, like the FIFA World Cup and European Championships, attract millions of viewers. Challenges include mental health concerns, such as pathological gambling and chronic stress. Regulatory bodies, like the Telecommunications Regulatory Authority, monitor the industry. Product innovations, like Slingo Rainbow Riches and Slingo Lobstermania, engage users. Sponsorships and streaming content also boost market growth. Blockchain and online payment methods, like SA20, are emerging trends. Mobile gambling on smartphones is increasingly popular. Regulations and bans in regions like Iowa and the Argentine Football Association impact the market.
  
  
• The online gambling market faces challenges related to security and credibility, which hinder its growth. Many gambling websites lack effective dispute resolution mechanisms and transparency in cash prize payouts. Furthermore, the absence of fair and responsible gaming standards diminishes the trustworthiness of operators and platform providers. This credibility issue negatively impacts the expansion of the casino business and discourages potential users from participating in online gambling activities, such as casinos and poker. Additionally, online gambling platforms are vulnerable to cyber attacks and scams, further undermining their reliability. These concerns must be addressed to bolster confidence in the online gambling industry and encourage broader participation.

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This online gambling market report extensively covers market segmentation by  

• Device
• Desktop
• Mobile
• Product
• Lottery
• Betting
• Casino
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa
• Type
• Sports Betting
• Casinos
• Poker
• Bingo
• Others

1.1 Desktop-  The desktop segment holds a substantial share in the global online gambling market, providing a user-friendly platform for various online betting and gaming activities. Desktop devices, such as personal computers and laptops, offer advanced features and a larger interface for accessing virtual casinos, sports betting platforms, poker rooms, and other online gambling services. Prominent online casinos like 888 Casino and Betway provide feature-rich desktop platforms with diverse games like slots, roulette, and blackjack, along with live dealer options. Desktop devices' enhanced processing capabilities ensure seamless gameplay and uninterrupted streaming of live events, particularly crucial for high-stakes activities like live sports betting. The desktop segment caters to users seeking a comprehensive gambling experience, offering expansive lobbies, advanced graphics, and interactive interfaces. Desktop-specific promotions and loyalty programs incentivize continued engagement, with exclusive bonuses, specialized tournaments, and targeted rewards based on desktop-specific gameplay metrics. These advantages are expected to boost the growth of the desktop segment in the online gambling market.

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The online gambling market has seen exponential growth in recent years, surpassing land-based casinos as the preferred choice for many gamblers. Casino gambling, including slots, poker, and more, is now available at the click of a button. In Great Britain, for instance, the trend is on the rise, with millions spending hours on various online platforms. Key drivers of this growth include the convenience and accessibility offered by online gambling. Virtual Reality (VR) technology is also revolutionizing the industry, providing an  gaming experience. The FIFA World Cup and other major sporting events have further fueled interest, with platforms like OpenSports offering real-time betting options. Payment options, such as Neteller, have made it easier for users to deposit and withdraw funds. Sponsorships by major brands like Kindred and Betway have also increased visibility and acceptance of online gambling. Virtual sports, like SA20, are also gaining popularity, offering a unique blend of traditional sports and technology. Films and media have also played a role in popularizing online gambling, with many portraying it as a normal and socially acceptable activity. However, it's important to remember that gambling should be seen as a form of entertainment and not a way to make money. Always gamble responsibly.

Online gambling has seen exponential growth in recent years, with land-based casinos facing increased competition from the convenience and accessibility of digital platforms. Casino gambling, including slots, poker, and sports betting, has become a global phenomenon. Artificial Intelligence (AI) and user experience are key focus areas for online gambling companies, providing personalized recommendations and seamless transactions. Convenient payment options, such as Neteller and OpenSports, have also played a significant role in the market's success. Virtual Reality (VR) and Augmented Reality (AR) are the latest product innovations, offering gaming experiences. The FIFA World Cup, European Championships, and SA20 are major events driving sports betting popularity. Mental health concerns, including pathological gambling, chronic stress, and hypertension, are increasingly being addressed by the industry. Sponsorships, streaming content, and telecommunications regulatory authorities are also shaping the online gambling landscape. Blockchain and online payment are revolutionizing transactions, with companies like Betway and Gaming Realms leading the way. Mobile gambling, fueled by smartphones, is a growing trend, with Betsson AB, Kindred Group PLC, and Flutter Entertainment PLC dominating the market. The Iowa gambling market, with casinos like Casino Queen Marquette, is embracing digital technology, and digital gambling is becoming increasingly accessible to internet users worldwide.

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Device
• Desktop
• Mobile
• Product
• Lottery
• Betting
• Casino
• Geography
• North America
• APAC
• Europe
• South America
• Middle East And Africa
• Type
• Sports Betting
• Casinos
• Poker
• Bingo
• Others

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio