Global Online Gambling Market Size Worth USD 73.45 Billion By 2024: Hexa Research
Monday 05 de November 2018 / 13:24
2 minutos de lectura
(California).- The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe. Technological advancements and addition of new regulations are expected to boost market demand over the forecast period. Furthermore, growing adoption of smartphones and tablets and easy access to online platforms are anticipated to drive the market.
Companies are focusing on developing mobile applications with secure money transfer facilities so that punters can easily place their bets online in real time. For instance, companies such as Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have mobile applications on different platforms such as iOS and Android. Moreover, a number of countries are legalizing gambling with each passing year. For instance, in December 2016, the parliament of Japan passed a law to legalize casinos after holding it for 15 years.
In 2016, the sports betting segment led the market and accounted for more than 40% of the revenue. It comprises various sports tournaments such as cricket, basketball, tennis, and other games. For instance, the sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to increasing football tournaments and cricket leagues. Increasing number of people betting on such events and easy accessibility to online gambling websites and applications are anticipated to present considerable growth opportunities for the market.
The online gambling and betting industry is anticipated to grow at a faster pace due to favorable regulatory environment. Moreover, rising disposable income of consumers and adoption of Internet-based devices are increasing revenues of the online gambling market worldwide. However, certain regions are likely to record sluggish growth due to strict government regulations, thus affecting overall revenue generation.
Europe dominated the market in 2016, valuing USD 16.42 billion in the market. This is due to the fact that online gambling is legal in a large number of countries such as France, Germany, and Italy. Countries such as U.K. and Germany have well-developed technology and infrastructure. Moreover, they have witnessed increased usage of smartphones and tablets for playing online gambling games on applications provided by companies such as Betsson AB and Bet365 Group Ltd.
Browse full research report with TOC on "Online Gambling Market Size and Forecast, By Type (Sports Betting, Casinos, Poker and Bingo), And Trend Analysis, 2014 - 2024" at: https://www.hexaresearch.com/research-report/online-gambling-market
The global online gambling industry is highly fragmented in nature and is marked by presence of several players operating across the world. Companies are focused on expanding their presence in the market through various strategic alliances such as diversification in online services.
For instance, in August 2015, Paddy Power announced a merger with Betfair for Euro 5 billion in order to increase its penetration in the online market and overcome regulatory hurdles. Key companies in the online gambling market include William Hill plc.; Bet365 Group Ltd.; Paddy Power Betfair plc.; Betsson AB; Ladbrokes Coral Group plc.; Amaya Inc.; 888 Holdings plc.; Sky Betting & Gaming; Kindred Group; and GVC Holdings plc.
Browse related reports by Hexa Research:
- U.S. Online Jewellery and Watches Market - U.S. online jewellery and watches market size was estimated at USD 6.19 billion in 2017. Rising disposable income is one of the key factor supporting market growth.
- Baby Car Seat Market - The global car seat market is expected to grow over the forecast period buoyed by growing demand in developing countries and sustained demand in western countries, which also have regulations mandating car seats. In addition, availability of a wide portfolio of products to suit specific requirements related to age and weight of babies, and the increasing prevalence of online channel have added to the well- being of the market.
- U.S. Online Residential Furniture Market - The U.S. online residential furniture market size was valued at USD 16.5 billion in 2016 and is expected to grow over the forecast period. Growth in the market is attributed to the stability in real estate industry at large and strengthening of consumer confidence.
Hexa Research has segmented the online gambling market report based on type and region:-
- Segmentation by Type • Sports Betting • Casinos • Poker • Bingo • Others
- Segmentation by Region • North America • U.S. • Europe • U.K. • Asia Pacific • Australia • Central & South America • Africa
- Key Players Analyzed: • William Hill plc. • Bet365 Group Ltd. • Paddy Power Betfair plc. • Betsson AB • Ladbrokes Coral Group plc. • Amaya Inc. • 888 Holdings plc. • Sky Betting & Gaming • Kindred Group • GVC Holdings plc.
Categoría:Sportsbook
Tags: Sports Betting, Sportsbook ,
País: United States
Event
SBC SUMMIT RIO 2024
05 de March 2024
Andre Gelfi explains the new regulation in the Brazilian gaming and betting market
(Rio de Janeiro, SoloAzar Exclusive).- The Managing Partner of Betsson group in Brazil, Andre Gelfi, was another key figure present at the inaugural SBC Summit Rio. In this exclusive interview with SoloAzar, he shared insights about the gaming and betting market in Brazil. Gelfi emphasized the hot topic of Brazilian regulations for the iGaming industry. In fact, he expressed his anticipation that the regulation, expected to be approved this year, will create a new landscape in the Brazilian market
Wednesday 27 Mar 2024 / 12:00
Influencers: "Between Effectiveness and Responsibility in the Gaming Industry".
(Rio de Janeiro, SoloAzar Exclusive) - As part of the Conference "Influencers: The Next Frontier of Social Media Marketing", as part of the Conference Agenda held on 6 and 7 March at the SBC Summit Rio 2024, leading industry personalities gathered in a panel to discuss the impact of the power of celebrities and influencers in generating engagement, as well as the proposed law that seeks to restrict their promotion of gambling.
Wednesday 27 Mar 2024 / 12:00
Pay4Fun: “We have ambitious expansion plans in the Brazilian market”
(Rio de Janeiro, SoloAzar Exclusive).- Leonardo Baptista, CEO and co-founder of Pay4Fun, is a key figure in the world of iGaming. His company, Pay4Fun, is a leading Brazilian online payment provider specializing in the iGaming market. During the first edition of the SBC Summit Rio, Baptista spoke exclusively with Soloazar, sharing insights about the new services that Pay4Fun will introduce to the market. He also discussed his vision for the future of iGaming in Brazil and Latin America. Another unmissable note by SoloAzar.
Wednesday 27 Mar 2024 / 12:00
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