US Online gambling market size is set to grow by USD 2.22 billion from 2021 to 2026, Easing of government regulations to boost the market - Technavio

NEW YORK, March 14, 2023 /PRNewswire/ -- The size of the online gambling market in US is estimated to grow by USD 2.22 billion from 2021 to 2026, according to Technavio. However, the growth momentum of the market is estimated to decelerate at a CAGR of 12.47% during the forecast period. The easing of government regulations is driving market growth. For instance, in 2012, a new law was passed in the US, which allowed individual states to license online and mobile casinos as well as sportsbooks and poker sites within their borders. In 2020, more than five states in the US legalized online gambling. These factors will drive the growth of the market during the forecast period. For more insights on the market - Request a sample report

Online gambling market in US – Vendor analysis
Vendor landscape -

The global online gambling market in US is fragmented, with the presence of several large as well as small vendors. A few prominent vendors that offer online gambling in us in the market are 888 Holdings plc, Ballys Corp., Betfair, Bovada, Churchill Downs Inc., Delaware Park Racetrack and Slots, DraftKings Inc., FanDuel Inc., Golden Nugget, and MGM Resorts International.

Vendors are investing in planning, designing, developing, acquiring new players, and expanding their existing facilities. During the forecast period, the competition among vendors is expected to intensify. Technological innovations and creativity play a significant role in driving market growth. To sustain in the competitive market, vendors have to develop new ideas and technologies and stay up-to-date with newly emerging games, licensing procedures and policies, and advanced technologies.

What's New?

• Recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - buy the report!

Vendor offerings -

• 888 Holdings plc - The company offers online gambling services where users get a bonus for the first deposit of USD 200, under the brand name 888 Group.
• Ballys Corp. - The company offers online gambling services, where users can play casino games on the web, under the brand name of Dover Downs.
• Betfair - The company offers online gambling services, where users across the world can participate and play various games, under the brand name Betfair.
• For details on vendors and their offerings – Request a sample report

Online gambling market in US - Segmentation Assessment
 

Technavio has segmented the market based on end-user (mobile and desktop) and gender (female and male). 

• The mobile segment will account for a significant share of the market growth during the forecast period. The busy lifestyles and the rising preference for portable devices are driving the growth of this segment. Vendors offer personalized advertisements, suggestions, and games based on the user's interest, which increases the number of users of mobile gambling apps.

Insights on the market contribution of various segments - Download a sample report

Online gambling market in US – Market dynamics

Key trends - The availability of alternatives to cash payments is a key trend in the market. The online gambling market in US includes different types of games, with each offering different types of rewards. Many sites accept deposits from bank cards such as Switch, Maestro, and Visa. Online gambling enables players to use virtual money, which reduces the risks related to cash. Some online casinos pay the winning amount in virtual currency, which can be used to play other games or redeemed for cash. This helps vendors keep track of the spending history of customers and make customized marketing plans. Such factors will support the market growth during the forecast period.

Major challenges - Frequent changes in gambling laws will challenge market growth during the forecast period. Online gambling vendors have to keep themselves updated with sudden changes in laws and regulations. For instance, in December 2011, the legal status of online gaming changed, which resulted in the legalization of online gambling in three states. The changing laws will have a direct impact on the online gambling market in the US.

Insights on market trends & challenges - Request a sample report!

What are the key data covered in this report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the online gambling market in US between 2022 and 2026
• Precise estimation of the size of the online gambling market in US and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors

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Related Reports:

The online gambling market is estimated to grow at a CAGR of 11.03% between 2022 and 2027. The size of the market is forecasted 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 size of the gambling market in UK is expected to increase by USD 2.83 billion from 2021 to 2026. Furthermore, this report extensively covers segmentation by platform (offline and online) and type (betting, lottery, and casino).

Browse for Technavio Consumer Discretionary Market reports

Table of contents

1. Executive Summary 

1.1 Market Overview

Exhibit 01: Key Finding 1

Exhibit 02: Key Finding 2

Exhibit 03: Key Finding 5

Exhibit 04: Key Finding 6

Exhibit 05: Key Finding 7

2. Market Landscape 

2.1 Market ecosystem 

Exhibit 06 Parent market

Exhibit 07: Market characteristics

2.2 Value Chain Analysis 

Exhibit 08: Value chain analysis: Casinos and gaming

2.2.1 Inputs

2.2.2 Operations

2.2.3 Services

2.2.4 Marketing and sales

2.2.5 Support activities

2.2.6 Innovations

2.2.7 Industry innovations

3. Market Sizing 

3.1 Market definition

Exhibit 09 : Offerings of vendors included in the market definition

3.2 Market segment analysis 

Exhibit 10: Market segments

3.3 Market size 2021 

3.4 Market outlook: Forecast for 2021 - 2026 

3.4.1 Estimating growth rates for emerging and high-growth markets

3.4.2 Estimating growth rates for mature markets

Exhibit 11: Global - Market size and forecast 2021 - 2026 ($ million)

Exhibit 12: Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

4.1 Five Forces Summary 

Exhibit 13: Five forces analysis 2021 - 2026

4.2 Bargaining power of buyers 

Exhibit 14: Bargaining power of the buyer

4.3 Bargaining power of suppliers 

Exhibit 15: Bargaining power of the supplier

4.4 Threat of new entrants 

Exhibit 16: Threat of new entrants

4.5 Threat of substitutes 

Exhibit 17: Threat of substitutes

4.6 Threat of rivalry 

Exhibit 18: Threat of rivalry

4.7 Market condition

Exhibit 19: Market condition - Five forces 2021

5. Market Segmentation by End-user 

5.1 Market segments

The segments covered in this chapter are:

• Mobile
• Desktop

Exhibit 20: End-user - Market share 2021-2026 (%)

5.2 Comparison by End-user 

Exhibit 21: Comparison by End-user

5.3 Mobile - Market size and forecast 2021-2026 

Exhibit 22: Mobile - Market size and forecast 2021-2026 ($ million)

Exhibit 23: Mobile - Year-over-year growth 2021-2026 (%)

5.4 Desktop - Market size and forecast 2021-2026 

Exhibit 24: Desktop - Market size and forecast 2021-2026 ($ million)

Exhibit 25: Desktop - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by End-user 

Exhibit 26: Market opportunity by End-user

6. Market Segmentation by Gender 

6.1 Market segments

The segments covered in this chapter are:

• Female
• Male

Exhibit 27: Gender - Market share 2021-2026 (%)

6.2 Comparison by Gender 

Exhibit 28: Comparison by Gender

6.3 Female - Market size and forecast 2021-2026 

Exhibit 29: Female - Market size and forecast 2021-2026 ($ million)

Exhibit 30: Female - Year-over-year growth 2021-2026 (%)

6.4 Male - Market size and forecast 2021-2026 

Exhibit 31: Male - Market size and forecast 2021-2026 ($ million)

Exhibit 32: Male - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by Gender 

Exhibit 33: Market opportunity by Gender

7. Customer landscape 

Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

7.1 Overview

Exhibit 34: Customer landscape

8. Drivers, Challenges, and Trends 

8.1 Market drivers 

8.1.1 Easing of government regulations

8.1.2 Wider reach of online gambling

8.1.3 Growth in spending capability of customers

8.1.4 Increase in penetration of online casino gaming

8.2 Market challenges 

8.2.1 Frequent changes in gambling laws

8.2.2 Difficulty in processing customer payments

8.2.3 Risks associated with the gambling business

8.2.4 Addiction to gambling

Exhibit 35: Impact of drivers and challenges

8.3 Market trends 

8.3.1 Availability of alternatives to cash payments

8.3.2 Customer-centric rewards

8.3.3 Effective marketing strategies

8.3.4 Use of AI in online gambling

9. Vendor Landscape 

9.1 Overview

Exhibit 36: Vendor landscape

9.2 Landscape disruption 

Exhibit 37: Landscape disruption

Exhibit 38: Industry Risk

10. Vendor Analysis 

10.1 Vendors covered 

Exhibit 39: Vendors covered

10.2 Market positioning of vendors 

Exhibit 40: Market positioning of vendors

10.3 888 Holdings plc

Exhibit 41: 888 Holdings plc - Overview

Exhibit 42: 888 Holdings plc - Business segments

Exhibit 43: 888 Holdings plc - Key offerings

Exhibit 44: 888 Holdings plc - Segment focus

10.4 Ballys Corp. 

Exhibit 45: Ballys Corp. - Overview

Exhibit 46: Ballys Corp. - Product and service

Exhibit 47: Ballys Corp. - Key offerings

10.5 Betfair 

Exhibit 48: Betfair - Overview

Exhibit 49: Betfair - Product and service

Exhibit 50: Betfair - Key offerings

10.6 Bovada 

Exhibit 51: Bovada - Overview

Exhibit 52: Bovada - Product and service

Exhibit 53: Bovada - Key offerings

10.7 Churchill Downs Inc. 

Exhibit 54: Churchill Downs Inc. - Overview

Exhibit 55: Churchill Downs Inc. - Business segments

Exhibit 56: Churchill Downs Inc. - Key offerings

Exhibit 57: Churchill Downs Inc. - Segment focus

10.8 Delaware Park Racetrack and Slots 

Exhibit 58: Delaware Park Racetrack and Slots - Overview

Exhibit 59: Delaware Park Racetrack and Slots - Product and service

Exhibit 60: Delaware Park Racetrack and Slots - Key offerings

10.9 DraftKings Inc. 

Exhibit 61: DraftKings Inc. - Overview

Exhibit 62: DraftKings Inc. - Business segments

Exhibit 63: DraftKings Inc. - Key offerings

Exhibit 64: DraftKings Inc. - Segment focus

10.10 FanDuel Inc. 

Exhibit 65: FanDuel Inc. - Overview

Exhibit 66: FanDuel Inc. - Product and service

Exhibit 67: FanDuel Inc. - Key offerings

10.11 Golden Nugget

Exhibit 68: Golden Nugget - Overview

Exhibit 69: Golden Nugget - Product and service

Exhibit 70: Golden Nugget - Key offerings

10.12 MGM Resorts International 

Exhibit 71: MGM Resorts International - Overview

Exhibit 72: MGM Resorts International - Business segments

Exhibit 73: MGM Resorts International - Key offerings

Exhibit 74: MGM Resorts International - Segment focus

11. Appendix 

11.1 Scope of the report 

11.1.1 Market definition

11.1.2 Objectives

11.1.3 Notes and caveats

11.2 Currency conversion rates for US$ 

Exhibit 75: Currency conversion rates for US$

11.3 Research Methodology 

Exhibit 76: Research Methodology

Exhibit 77: Validation techniques employed for market sizing

Exhibit 78: Information sources

11.4 List of abbreviations 

Exhibit 80: List of abbreviations

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SOURCE Technavio