The market is driven by the growing demand for mobile gambling. The decline in the average selling price (ASP) of smartphones and advances in communication network infrastructure have significantly increased the demand and adoption of smartphones. This has created a major platform for online gambling as smartphones provide convenience and easy access to various online casino games and e-sports betting. Smartphones also support many online-payment solutions such as M-Pesa, Orange Money, and Airtel Money. Vendors are also responding quickly to changes in the industry and are implementing digital platforms to capitalize on the increasing adoption of smartphones. Many such developments are expected to fuel the growth of the global online gambling market during the forecast period.
As per Technavio, the introduction of bitcoin gambling will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Online Gambling Market: Introduction of Bitcoin gambling
The emergence of digital and decentralized currencies such as Bitcoins is providing a high level of anonymity for users. It is not regulated by the central banks of many countries. Also, it does not require the user to provide personal information while using Bitcoins while gambling. Moreover, Bitcoins provide several advantages over regular currency such as secure international transactions, easy deposits and withdrawals, lower fraud risks, quick payments, and zero transaction fees. Many such benefits are increasing the use of Bitcoins in the gambling industry. This trend is expected to have a positive impact on the growth of the global online gambling market during the forecast period.
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Online Gambling Market: Segmentation Analysis
This market research report segments the online gambling market by type (lottery, betting, and casino), device (desktop and mobile), and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the online gambling market in 2020, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, the online gambling market in APAC is expected to register rapid growth. The increasing number of new casinos and lottery events in APAC will be driving the growth of the regional market.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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Online Gambling Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Decelerate at a CAGR of 11% |
Market growth 2020-2024 |
USD 114.21 billion |
Market structure |
Concentrated |
YoY growth (%) |
12.04 |
Regional analysis |
APAC, Europe, MEA, North America, and South America |
Performing market contribution |
APAC at 36% |
Key consumer countries |
China |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
888 Holdings Plc, bet365 Group, Betsson Ab, Camelot UK Lotteries Ltd., Flutter Entertainment Plc, GVC Holdings Plc, Galaxy Entertainment Group Ltd., INTRALOT SA, MGM Resorts International, and William Hill Plc |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Casino - Market size and forecast 2020-2025
- Betting - Market size and forecast 2020-2025
- Lottery - Market size and forecast 2020-2025
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- 888 Holdings Plc
- Caesars Entertainment Corp.
- DraftKings Inc.
- Evolution Gaming Group
- Golden Nugget
- GVC Holdings Plc
- Kindred Group Plc
- Mr Green
- SlotsMillion
- William Hill Plc
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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SOURCE Technavio
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