By 2026, Online Gambling & Betting Casino Industry Size

By 2026, Online Gambling & Betting Casino Industry Size

Although Australian adults dominate the online gambling industry user base count, US adults also have their fair share of betting. As online casinos incorporate trends such as cryptocurrencies, 5G network usage, and user-intuitive features, the user base and revenue have consistently grown since 2017. Online forms of gambling and betting already account for almost 1 fifth of all gambling activities globally. Mobile devices (also in the online gambling framework) already account for 85% of all gambling activity, and the numbers will increase. This section gives the most interesting insights into online gambling stats in recent years (around 2019 to 2023).

Apple Pay is among the most used mobile payment options for gamblers in the US.One factor for this domination is Apple’s popularity in the country, almost having a monopoly in the US Smartphone market. The US’ first 11 months of 2022 saw the country break its previous gambling revenue record by 13.5% ($53.04 billion), including a rich reels review 35.2% rise in its iGaming sector, equivalent to $5.02 billion. In 2021, Asia Pacific is the largest region globally accounting for over 32% of the industry share. 2021 – 2022 UK study on teenage gambling shows the attributes of the younger generation of gamblers to gambling activities and reflects some gambling addiction stats.

  • A majority of the sites & platforms accept payment through all the wallets, credit/debit cards, and cryptocurrencies.
  • VR lets gamblers interact with other gamblers and dealers and offers a more realistic gambling experience, better sound quality, and a realistic game design.
  • Skrill is one of the most prominent payment options in the United Kingdom.Formerly known as MoneyBookers, the UK launched Skrill to provide its gambling population with a more convenient payment option.
  • In addition, in sports betting the user fully comprehends the outcome of the game.
  • The online draw-based lottery segment looms to generate an estimated $15.3 billion by 2023 at 8.3% CAGR.

We would be happy to reach out to IMARC for more market reports in the future. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018 that limited sports betting. Moreover, the expansion of leading sports leagues, such as NBL and NHL will also boost the business outlook.

Market size of the casino and online gambling industry worldwide from 2011 to 2021, with a forecast for 2022

The Polish online casino industry was among the many markets to benefit from the COVID-19 lockdowns, making around PLN8.76 billion in 2020, which more than doubled to PLN18.34 billion in 2021. The sections below shall analyze the current and projected state of online betting, exploring various factors within a worldwide industry. Concerning online bets, around 155.3 million people engage in various online wagers, around 9.6% of the total gambling population.

Who are the key players in Online Gambling Market?

Based on game, the online gambling market is segmented into betting, casino, poker, lottery, bingo, and other games. Due to the growing popularity of sports tournaments worldwide, betting represented the largest segment. The increasing awareness of e-sports and the rise of live-streaming platforms have had a significant impact on the demand for betting. The growing popularity of sporting events, such as football and cricket, and the high stakes of monetary involvement are major factors attracting many gamblers to this segment. The increasing penetration of the internet and the population’s growing understanding of online gaming sites and applications are driving segment revenue. The segment could expand even further with the growing collaborations among market participants.

In addition, legalizing online gambling offers various advantages, such as providing a safe and regulated environment for players, and generating additional revenue for governments. It also helps to protect players from fraud and provides governments additional revenue, thereby escalating the overall demand. The online gambling market has experienced significant growth in recent years due to the increasing popularity of internet-based betting and gaming activities. With advancements in technology and the widespread availability of high-speed internet, more and more people are turning to online gambling as a form of entertainment. This trend is expected to continue, particularly as the COVID-19 pandemic has caused a surge in online gambling as people have been spending more time at home. Due to the developing interest in sports in the country, the demand for sports betting in the sector of online gambling is majorly preferred among the consumers of the United States. Eventually, the increased security protocols will require that customers enter their licenses, and other documents before beginning to play any game on an online platform.

What is the growth rate of Online Gambling Market?

Companies are also focusing on establishing strategic partnerships to reach a broad range of markets and enhance future growth opportunities. Key factors driving the online gambling market growth include increasing investment in online gambling and the growing number of live casinos across the globe. Advanced technologies in mobile phones have resulted in realistic gaming visuals in smartphones leading to increased access to online gambling through mobile phones. For instance, betting applications such as CricBaba, Sky Bet, bet365, and more can be accessed on iOS and Android smartphones. The wide availability of mobile phones at affordable prices and modern features such as improved graphics and expandable storage capacity contribute to the segment’s growth.

Most Popular Types of Gambling

The betting industry’s top online casino players are Betfred Ltd., Bet365 Group Ltd., and 888 Holdings plc. The visuals below represent the global trends of popularity for different gambling activities. Statistics about gambling for each country also differ a lot, so these charts give a general idea of each activity’s popularity on a bigger scale. As of 2015, 40% of mobile users were using mobile applications to place bets. One year before that (2014), the revenue estimation of bets from mobile devices was of US$11.4 billion (worldwide). Future forecasts indicate a total of US$53.73 billion revenue by 2025, coming from the mobile gambling market alone.

Exploring the Facts and Figures Behind Online Gamblers’ Demographics

Nowadays, a large portion of the global population has access to the Internet. The number of internet users worldwide was 5,300 million in 2022, according to the International Telecommunication Union (ITU). This represents one of the primary factors behind the immense popularity of online gambling services worldwide. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience. To meet different player interests, online gambling platforms provide various games, such as slots, poker, and sports betting. For instance, the total betting turnover of the Japan Racing Association (JRA) from horse racing was JPY 3.25 trillion, according to the Japan Association for International Racing.

The online gambling stats highlight how women tend to develop harmful behavior at a higher rate than men, 31% and 26%, respectively. As online participation is higher among men than women, gambling problem is common for the former. A critical factor that analysts consider outside of nation-by-nation progress is the rise of female gamblers. Women now play a more active role in profit margins and user penetration than ever. The rise in online wagers also resulted in more problem gamblers and net losses among this group, highlighting the global need for stricter betting laws to manage harmful gambling and financial risks.

However, we know it is directly related to online gambling and that most people gambling on online casinos and sportsbooks will use their mobile phones. The sports betting industry by betting type was led by the fixed odds wagering segment in 2022, accounting for a revenue share of over 26%. The eSports betting segment is likely to grow at the fastest CAGR of over 14.0% during the forecast period. According to DataReportal, 60.0% of the world’s population has access to the internet. Growth Drivers
The changing legislative framework for virtual betting and the legalization of the market across emerging nations is anticipated to drive industry growth. For instance, online gambling has recently been made legal in Goa and Sikkim.

Unlock the full report for instant access to 30+ charts and tables paired with detailed analysis.

These features have enhanced the overall betting experience, making it more engaging and exciting for users, thus acting as a major growth-inducing factor. Europe dominated the global online gambling market with over 45% share in 2022. The increasing number of online gambling websites in the region, as well as the launch of mobile applications for online gambling activities in the industry, augment market growth. Online gambling is gaining popularity in many European countries, with the UK, Italy, and the Nordic countries leading the region’s industry growth. The rising penetration of online gambling in Europe will increase the year-on-year value of the market. The growing per capita disposable incomes due to the improving economy in many European countries are leading to increased spending on gambling activities among European households. Europe dominated the market of online gambling & betting accounting for a 52% share of the online gambling & betting consumption globally in 2019.

For instance, SLTM Ltd.’s SlotsMillion online casino offers a virtual reality mode. With a global sports betting market share of 70%, mobile sports betting accounted for 48.9% of the gambling market worldwide. Experts foresee the Russian online sports betting market to increase by over 173% between 2018 and 2026, looming to generate around $613.5 million by the end of the forecast period. Key factor that are driving the sports betting market growth include the increase in a number of sports events and leagues and the growing digital infrastructure and penetration of connected devices. Europe region dominated the global sports betting market with a share of 37% in 2022. This is attributable to the safety laws and regulations for offline as well as online betting across most of the countries in the region.

Share this post