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
Related Reports:
Online Lottery Market in China by Product and Device – Forecast and Analysis 2022-2026
VR Gambling Market by Type and Geography – Forecast and Analysis 2021-2025
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
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SOURCE Technavio
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