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Online gambling and betting is novel phenomenon. Gambling is wagering something of value, with consciousness of undergoing risk of an uncertain outcome, and hope of gaining or wining something of a value. Thus gambling requires three elements consideration, risk, and a prize. Online gambling is administered via internet.

Online gambling is an act of placing wager on risk-based games for a chance of winning money. This include Sports matches, casino games and popular card games like poker etc.

The online gambling is much safer online betting option as the player does not have to be physically present, yet can be online via several virtual gaming options which are moderated by computer programs. Players can virtually play several games, such as sports betting, poker, blackjack, roulette, slot machines etc. Players can also download their preferred gaming software on their personal computers and play through website.

As these websites are controlled by computer gaming programmes, they are secured to do the financial transactions such as winning amount. These gaming sites offer several benefits such as cashless transactions, wide accessibility, tailor-made budget plans and real-time gambling experience for the players.

The Global Online Gambling and Betting Market is cherished to reveal a substantial growth of a CAGR of 11.8% during the forecasted period of 2022 to 2030. The Global Online Gambling and Betting Market was valued at USD 69,059.3 million in 2021 and is estimated to display a gigantic move of USD 1,88,450.98 million by 2030.

The recent Covid-19 pandemic has positively impacted the market. Due to the lockdown crisis people were compelled to stick to their homes, as a result of this, there was huge traction for online gaming and betting market. As per the research study done by University of Lund, Sweden, there was a surge in consumers for online gaming platform. Moreover, due to closure of offline gaming establishments, many operators shifted to online platform. Many operators offered various gaming awards and tenders online which positively impacted the market.

Over the predicted timeline the online betting market is expected to show an aggressive growth. Artificial intelligence, Chabot, and machine learning have captivated the market. Rising convenience cashless mode of secured transaction are likely to propel the market. Moreover, operators are creating several fascinating tournament and gaming options to attract new gamers, which is expected to boost the market growth.

Online foot-ball betting is charging the market growth

The online betting is predominantly applied to sports category, specifically in football events such FIFA world cup and European Championship. Several online programmers are sponsoring different teams as a part of their marketing and promotional activities.  For example, the brand Bwin, an innovative online sports brand across the Continental Europe accomplished global appreciation from high-profile football sponsorships from clubs, such as Real Madrid and AC Milan.

Easy availability of electronic gambling devices with convenient cost is boosting the market

The electronic gambling devices (EGD) are economical in price and easily available. These devices have inbuilt soft wares that mimic like the real time casinos. These devices use advanced technology, that can also be converted to electronic slot machines, spinning reel slot machines, video slot machines, and electronic poker games. This facility is boosting the market.

Though the recent pandemic that hit the world, completely changed management of health care and financial sector, the online gambling and betting market was witnessing an accelerated growth during the pandemic. Moreover, rise in secured digital payment options is also another factor contributing the growth of the market.

Global Online Gambling and Betting Market: Segmentation Analysis

The Market has been segmented into sections namely, Type and Application, and region

Global Online Gambling and Betting Market based on Type:

Based on Type the market is further divided into

• Poker
• Casino
• Social Gaming
• Lottery
• Bingo
• Sports Betting
• Others

Of all types, the Sports betting section is predicted to be dominating the market. The rising demand for online gaming and betting is propelling the market. In addition to this, growing sponsorships for online sports betting is considered to fuel the market growth.

Global Online Gambling and Betting Market by Application

On the grounds of Application, the market is further divided into

• Desktop
• Mobile
• Tab

Due to rise in adoption of smartphone usage, the mobile gambling is predicted to grow rapidly. This is attributable to vast usage of smart phone and mobile based sports gambling by the young crowd. As per Deloitte report, one-third of the users for gaming and sports betting have adopted smartphones online gambling.

Global Online Gambling and Betting Market: Regional Segmentation Analysis

Based on the geographical view, the market occupies regions as North America, Europe, Asia Pacific, South America, Middle East & Africa. North America remains the fastest growing region as the current judicial structure for online betting allows only certain regions in the of United States for bookmakers’ license. The regions include Nevada, Pennsylvania, and New Jersey to operate legally for online betting. The new law offers online poker, casino’s, online sports betting. New Jersey in US is the fourth largest and biggest state to legalise and regulate online gambling.

Global Online Gambling and Betting Market: Competitive Landscape

The stakeholders play a vital role in company’s growth. Companies are focusing on development and inauguration of new products and collaboration with other entities to rise the market share. The main purpose of this collaboration is to manage the work flows.  The global online gaming and betting market is highly competitive market due the prevalence of small and large market players across boundaries. Some of the prominent companies are 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, Others.

Global Online Gambling and Betting Market Forecast Years: 2022-2030

Global Online Gambling and Betting Market Historical Years: 2018-2021

Global Online Gambling and Betting Market 2021:  USD 69,059.3 million

Global Online Gambling and Betting Market 2030: USD 1,88,450.98 million

Global Online Gambling and Betting Market CAGR: 11.8%

Key Segments:

• By Type: Poker, Casino, Social Gaming, Lottery, Bingo, Sports Betting, Others
• By Application: Desktop, Mobile, Tab
• Regions covered: North America, Europe, Asia Pacific, South America, Middle East & Africa. North America

Top Companies Profiled:</strong> 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, Others.