IMARC Group has recently released a new research study titled “Online Gambling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
The global online gambling market size reached US$ 79.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 133.9 Billion by 2028, exhibiting a growth rate (CAGR) of 8.5% during 2023-2028. Online gambling or e-gambling is a type of gambling that is conducted over the internet. This includes online casinos, poker, sports betting, and virtual horse racing. Online gambling provides players with easy access to a wide range of games and betting options from the comfort of their own homes. Convenience is one of the primary advantages of online gambling. Players have access to their favorite games and betting options from anywhere at any time, as long as they have a stable internet connection. This eliminates the need to travel to a physical casino or betting shop, thus saving both time and money. Another advantage of online gambling is the range of options available. There are multiple online casinos and sportsbooks to choose from, each offering a different selection of games and betting options. This further grants a player to discover the games and betting choices that best suit their preferences and interests. In the present times, online gambling serves as a popular and convenient form of entertainment for many people.
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Online Gambling Market Trends:
The rise of digital media represents one of the key factors driving the growth of the market across the globe. This, coupled with changing consumer behavior is acting as a major growth-inducing factor. Many younger consumers are more comfortable with technology and are more likely to participate in online gambling activities than older generations, thus driving the market growth. In line with this, the increasing demand for convenience and accessibility, along with online gambling offering a convenient and accessible way to participate in a wide range of gambling activities, including casino games, sports betting, and poker are contributing to the growth of the market. The market is also driven by the advances in technology that are making online gambling easier for online gambling operators to provide a seamless and engaging gaming experience. This includes the use of mobile devices, live streaming, and virtual reality technology is further driving the market. Apart from this, the extensive utilization of mobile phones, coupled with the increasing internet penetration among consumers for playing online games is increasing the demand for online gambling. In addition to this, the widespread adoption of smartphones, coupled with the 5G internet technology is facilitating the growth of the market. Other factors, such as the increasing regulation of online gambling, rising disposable income, and increasing legalization, are creating a positive outlook for the online gambling market across the globe.
Online Gambling Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the online gambling market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
Key Market Segmentation:
The report has segmented the global online gambling market based on game type, device and region.
Breakup by Game Type:
Breakup by Device:
Breakup by Region:
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