Global Online Gambling Market is increasing due to the popularity of draw-based and scratch-off instant games and advent of advanced technology and smart devices such as virtual reality, blockchain, and mobile platforms
The increasing availability of online gambling has been one of the major changes in the gambling industry in recent years. Online gambling is the fastest-growing type of gambling, and it is changing the way that gamblers engage with this activity. The act of betting on casinos or sports over the internet is known as online gambling. It is also known as e-gambling or Internet gambling. Credit cards are usually used to place bets, and the winnings or losses are enjoyed as a result. Computers, mobile and smart phones, tablets, and digital television are all examples of internet-enabled devices that can be used for online gambling
The worldwide demand for Online Gambling market was estimated at around USD 69,059.3 million in 2022, and by the end of 2031, existing and expected developments would hit valuations of around USD 206,261.3 Million. The industry players and analysts predict the global Online Gambling market growth of around 11.8% in terms of CAGR. The major benefit of online gambling is the comfort and convenience it offers. Players have the flexibility to bet whenever and wherever they want. Furthermore, it is faster and more efficient to understand. Therefore, the demand for the online gambling is growing at a higher pace across the globe. However, increasing adverse impact on mental health and bans on online gambling is one of the crucial factor which is likely to hinder the growth of the Online Gambling market across the region.
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Some of the leading and top Online Gambling companies in the global Online Gambling market include GVC Holdings PLC., GSN games, Amaya Inc. (Flutter Entertainment plc), Playtech PLC., Fortuna Entertainment Group, 888 Holdings PLC, Playtika Holding Corp., Betclic Group, Scientific Games Corporation, MGM Resorts International, Kindred Group plc, IGT, Aristocrat Leisure, William Hill PLC, Zynga, Bet365 Group Ltd., Betsson AB, LeoVegas AB, SAZKA a.s, Tabcorp among others. The leading players such as Flutter Stars Group, GVC Holdings, Bet365, Scientific Games, Playtech, Aristocrat, International Games Technology, Bet Fred, Kindred Group, and 888 HOLDINGS PLC hold around 35% market share of the global Online Gambling market.
On the basis of type, the worldwide Online Gambling market can be segmented into Sports Betting Casino, Lottery, and Bingo, with the 'Casino' category having the leading market share of about 35 percent, of the worldwide Online Gambling market. Sports batting segment has been further categorized Football, Horse Racing, E-sports and others. Casino segment has been further bifurcated into Live Casino, Baccarat, Blackjack, Poker, Slots and others. In terms of application, global Online Gambling market can be segmented into desktop, mobile and tab. Based on end-user, the worldwide Online Gambling market can be segmented into Dabblers, Gambling Enthusiasts, and Social Exuberant. In terms of geography, Europe region held the leading market share of around 53% among other regions such as Asia Pacific, North America, Latin America, and Middle East & Africa in the global Online Gambling market.
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