Online Gambling Market Size By Type (Betting [Boxing & UFC, eSports, Football, Formula1, Horse Racing, Tennis], Casino [Baccarat, Blackjack, Roulette, Slots], Poker, Lottery, Bingo), By Device Type (Desktop, Mobile), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026

Industry Trends

Online Gambling Market size surpassed USD 55 billion in 2019 and is anticipated to grow at 16.5% CAGR between 2020 and 2026. The advent of several new technologies, such as AI, VR, cyborg, and machine learning, will drive market growth. 
 

AI technology is helping online casinos to enhance user interface and identify high-risk gamblers. The industry leaders are investing in AI technology to identify players’ behavior patterns and prevent gaming frauds. For instance, in November 2019, the UK Betting and Gaming Council (UKBGC), deployed the Anonymous Player Awareness System (APAS), an AI software, to identify and lock out scammers. APAS tracks a player’s behavior for 30 seconds and immediately displays safer gambling warnings on the machine’s display.
 

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The benefits of high rate of employment and revenue generation from the online gambling market have encouraged several countries to legalize online gambling. In May 2018, the U.S. Supreme Court lifted the federal ban on sports betting for college and professional sports. Since the ruling of legislation, eleven states in the country have legalized sports betting.
 

Rising concerns related to cybercrime will hamper the market growth. Manipulation of internet sites through fake apps and app-based hacking leads to high risks for individuals providing credit card information. According to a report by cyber-security firms - Talent-Jump and Trend Micro, in February 2020, a group of professional Chinese hackers targeted and hacked companies that run online gambling & online betting websites in Southeast Asia. Furthermore, the dramatic increase in the usage of online gambling by minors due to easy accessibility to the internet is restricting the market growth.
 

The online gambling industry is expected to witness high growth during the COVID-19 pandemic. Stringent restrictions on people’s movement and closure of land-based casino operations are anticipated to have a positive impact on the market revenue. The players are shifting to online gambling and signing up to their favorite online casino sites. According to Easy Payment Gateway statistics, in May 2020, the market player’s clients witnessed 10% growth in transaction processing volume within the gambling sector. However, the widespread cancelation of live sporting events due to the COVID-19 pandemic is adversely impacting the market demand.
 

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The growing popularity of FIFA betting in Europe to propel the online gambling market size

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In 2019, the Europe online betting market accounted for over 40% of the regional revenue share and will register around 14% growth rate through 2026. With the growing popularity of football tournament in European countries, online gambling is witnessing significant growth, especially during massive events such as FIFA World Cup and the UEFA European Championships.
 

According to ARJEL, a France online gambling authority, bettors gambled USD 436 million on online bookmakers during the 2018 FIFA World Cup tournament while over USD 3.2 billion was reportedly bet in the UK, double the amount compared to the 2014 FIFA World Cup. In addition, the presence of prominent online gambling sites including William Hill, Bet365, and Betfred that are licensed by the UK Gambling Commission are positively influencing the market demand.
 

Market demand for convenient and user-friendly mobile-based online gambling

The mobile device segment dominated more than 45% of the UK online gambling market share in 2019. Technological advancements in smartphones, such as extended storage capacity and improved graphics, have resulted in enhancing the overall online gambling experience. Smartphones offer various benefits to players, such as loyalty points, deposit options, and options to play with other players, resulting in an increased number of customers using mobile devices to play sports betting. Providers are capitalizing this opportunity by expanding their services and allowing customers to play online casino games for real money through their free social gaming apps.
 

Mobile gambling will observe substantial growth in the UK market on account of rapid increase in the usage of mobile phones. In 2019, 79% of the UK adults owned a smartphone and spent around two hours on mobile devices daily. The continuous technological evolution in smartphones is making gambling easily accessible over these devices. Moreover, the presence of several leading companies, such as Betting & Gaming Ltd., Bet-at-home.com, William Hill PLC, 888 Holdings PLC, Betfair Group PLC, and Kindred Group, that are increasingly focusing on expanding their presence in mobile gambling will provide growth opportunities to the market.
 

Favorable legislation framework for the gambling sector in North America

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The North America online gambling market revenue is poised to exceed USD 25 billion by 2026, expanding at 20% CAGR during the forecast period. The growth can be attributed to the legalization of online gambling in several states including Nevada, Pennsylvania, Delaware, and New Jersey in the U.S. In December 2019, the West Virginia Lottery Interactive Wagering Act (H 2934) legalized full-scale online gambling including poker, casino, and sports betting in the state.
 

Additionally, the rising gambling industry in Canada is supporting the market growth. It has been observed that 75% - 85% of Canadians tend to play a wide range of online games. According to the Canadian Gaming Association (CGA), as of 2019, online gamblers spend around USD 500 million per year in Canada.
 

Aggressive acquisition and product launches remain the key strategies among industry players

Key players operating in the online gambling industry are 888 Holdings PLC, Betsson AB, Bet365 Group Ltd., Kindred Group PLC, GVC Holdings PLC, Paddy Power Betfair PLC, Ladbrokes Coral Group PLC, Sky Betting and Gaming, William Hill PLC, Borgata Hotel Casino & Spa, The Stars Group, Inc., and Caesars Entertainment Corporation.
 

Market players are focusing on continuous product launches and mergers & acquisitions to expand their market presence and gain a competitive edge in the market. For instance, in January 2019, Mr. Green and Co. AB, a Sweden based gambling company was acquired by William Hill PLC for around USD 308 million, expanding its digital business footprint in the Scandinavian region.
 

The online gambling market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2016 to 2026 for the following segments:
 

Market, By Type

• Betting
  • Boxing and UFC
  • eSports
  • Football
  • Formula1
  • Horse racing
  • Tennis
  • Others
• Casino
  • Baccarat
  • Blackjack
  • Roulette
  • Slots
  • Others
• Pokers
• Lottery
• Bingo
• Others

Market, By Device Type

• Desktop
• Mobile

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • East Asia
  • Southeast Asia
  • South Asia
  • Oceania
• Latin America
  • Mexico
  • Argentina
  • Colombia
• MEA