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ResearchAndMarkets has added the “Online Gambling Market: Growth, Trends and Forecasts (2013-2028)” to its offering.
Over the next five-year period, it is expected that the Online Gambling Market will record a CAGR (Compound Annual Growth Rate) of 11.49 %.
The popularity of instant games based on draw and scratch off has increased, particularly in Europe, which could positively affect the growth of the studied market. Increased smartphone penetration is causing an increase in mobile lottery games.
One of the main drivers for the segment is the convenience and comfort that the end-user can enjoy when gambling in their own home. The convenience and user-friendly experience of casino gambling have made it one of the fastest growing gambling categories.
Virtual reality, Blockchain, and mobile platforms are now widely used in the global gambling industry. Due to this, vendors are using software providers, such as NetEntand Evolution Gaming to integrate and enhance the gaming experience for consumers.
To gain a competitive advantage in the market, many companies focus on developing innovative platforms that cater to different customer needs and requirements. In 2021, Entain PLC announced the launch of Gambling Responsibly America, a gaming app dedicated to the United States.
This app contains a tool that helps consumers. The app also offers educational resources for consumers who are struggling with gambling problems. These factors will benefit the market in a positive way.
Online Gambling Market Trends
Sponsorships and Payment Options that are Convenient Drive the Market
Payment options have become more convenient for online players and consumers with the increasing adoption of mobile payment systems and online payment gateways. Online payments are accepted by the gaming industry as a secure and safe method of payment. This is one of the factors that boosts the growth of online gambling.
Online betting is a growing segment, particularly in the sports category. This includes football events such as the FIFA World Cup or the European Championships. As part of their marketing campaigns, many online sports betting companies sponsor different teams by acquiring and merging with other companies.
North America remains the fastest-growing region
In the United States, the current legal framework for online gambling allows only those bookmakers who are licensed in Nevada (or Pennsylvania), New Jersey, or New Jersey. These three states regulate online betting.
Pennsylvania is the fourth largest state in terms of legalizing and regulating online gambling. New Jersey has a variety of online gambling apps, including sportsbooks, online casinos and sports betting. New Jersey’s Division of Gaming Enforcement regulates New Jersey’s online gaming sites. It is responsible for site licensing, tax collection, game testing, and approval.
New Jersey is the United States’ largest market for online gambling that is regulated. Canada has a largely unregulated online gaming industry. Mexico is also reviewing its gambling laws to ensure that the online gambling industry is in line with the rest.
The market is expected to grow further as a result of the increased regularization of online gaming in North American countries and states.
Analysis of Online Gambling Market Competition
The market for casino gambling is fragmented, with regional and international players. The market is dominated by key players such as Bet365, Entain PLC Flutter Entertainment PLC and Kindred Group PLC.
Major players focus on partnerships, mergers and acquisitions and product innovation to expand their market presence and enhance their portfolio of brands to meet consumer demands. The most popular strategy for the online gambling industry is merger and acquisition, followed by growth.
The key players are competing on a variety of factors including the quality of gambling content, the user experience, brand equity and personalized payouts as well as access to different platforms. Manufacturers with advanced distribution networks and manufacturing experience have an advantage in expanding their product range globally.
Topics covered:
1 INTRODUCTION
1.1 Market Definition and Study Assumptions
Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market drivers
Market Restraints
Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Game Type
5.1.1 Sports Betting
Football
Horse Racing
5.1.1.3 E-sports
Other Sports
5.1.2 Casino
Live Casino
Baccarat
5.1.2.3 Blackjack
Poker
5.1.2.5 Slots
Other Casino Games
Lottery
5.1.4 Bingo
5.2 End User
Desktop 5.2.1
5.2.2 Mobile
5.3 Geography
6 COMPETITIVE GRASSLAND
6.1 Strategies adopted by players
6.2 Analysis of Market Share
6.3 Company Profiles
Betsson AB
6.3.2 888 Holdings PLC
6.3.3 Sport Pesa
Kindred Group PLC
Entain PLC
William Hill PLC
6.3.7 Bet365
6.3.8 LeoVegas AB
Flutter Entertainment PLC
1X Corp.
