Following football, the horse-racing segment accounted for the second-largest market share in 2022, growing at a CAGR of over 8.0% during the forecast period. The basketball and baseball segments are also expected to witness a CAGR of more than 10% owing to increasing trends toward betting among these sports types. The online platform led the sports betting market in terms of the platform in 2022. The segment is expected to showcase a CAGR of more than 12.0% and maintain its dominance over the forecast period. The growth of the segment can be credited to the proliferation of smartphones and boosting internet infrastructure worldwide. Online gambling and betting market are enormously motivated by the firm growth in the internet organization along with the strong awareness of mobile devices.

• Other drivers for the market growth include the availability of high-speed broadband internet, the rising popularity of online casinos, and the rising use of smartphones.
• Mobile gambling is possible through the simple access of websites through a browser or via apps located in official stores or with a downloadable APK.
• This is statistical so within certain tries, it goes below a certain number,” Dr Subhashis Gangopadhyay, research director- IDF and Dean, School of Liberal Studies, UPES, told BrandWagon Online.
• While online betting made €351 million in 2017, Czechian bettors doubled the income in 2022 to €886 million.
• Explore more facts and figures about the Virtual Reality Casino scene and learn how quickly the segmentation has been growing.

Several states in the U.S. have placed restrictions on online gambling and have even imposed fines on some online gambling platforms for breaking the law. Technology advancements, such as augmented reality (AR) and virtual reality (VR), are incorporated into online gaming experiences to increase player engagement. Mobile gambling has increased dramatically due to the widespread use of smartphones and tablets, which enable bets to be placed at any time and almost anywhere.

Games 24×7 hopeful that industry will overcome higher GST levy

However, it is not only to calculate the odds of a sports event or the chances of a roulette game that they are useful. One year after the other, relevant information on revenue, evolution, and expenses is published. Up-to-date statistics on gambling addiction https://nitrocasinokirjaudu.com claim that up to 6% of all gamblers have a gambling addiction. If around 2,091,780,987 people gamble, out of them 125,506,859 people have a certain level of gambling addiction. We would be happy to reach out to IMARC for more market reports in the future.

Over a dozen legal and licensed online casino sites and poker rooms compete for an overall market. The Asia Pacific region is likely to register growth at the highest CAGR of over 11% during the forecast period. Based on device type, the global online gambling & betting market is segmented into desktop, mobile, and others. In 2019, the desktop segment dominated the global online gambling & betting market. The mobile segment is projected to be the fastest-growing device type over the next five years attributed to increasing the adoption of mobile by consumers, especially in developing countries. Based on device type, the global online gambling & betting market is segmented into the desktop, mobile, and others. Moreover, casino gambling has been one of the rapidly growing online gambling categories due to its convenient usage and optimal user experience.

Online Gambling Figures in Africa

Based on game type the market is segmented into sports betting, casino, and other game types. Based on casino game type the market is further segmented into live casinos, slots, baccarat, blackjack, poker, and other casino games. The market is also segmented by end-users in online gambling which include desktop users and mobile users. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

Casinos

Mobile-optimized games with touch-screen controls are prevalent in virtual casinos, catering to the interests of handheld device users. Social media channels are used by online casinos to actively engage with players. Moreover, online gaming platforms are more feature-rich, with better visuals and faster load times, which provides players with a more intense and lifelike experience, hence driving market revenue growth.

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 Pelican Casino 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.

Business Hours

The 2022 figures for online gamblers increased by 15.38% from the previous year’s 134.6 million users, with online sports bets contributing the most with 108.9 million users in 2022. It is often thought that if one is skilled at a certain task, there is a high probability, of her achieving success at that task. Case in point, almost every Indian thought that team would be unbeatable at this year’s recently concluded ICC World Cup. This proves that there is a certain element of chance in all kinds of games. And this is what seems to be one of the most hounding issues that the online gaming industry today is facing in India.

New Jersey has various types of online casinos, sportsbooks, and sports betting apps. New Jersey’s Division of Gaming Enforcement oversees and holds New Jersey’s online gaming sites. It handles site licensing, tax revenue collection, and game testing and approval. New Jersey is currently the largest market for regulated online gambling in the United States. At the same time, Mexico is reviewing its gambling laws, intending to regulate the online gambling sector to align with the rest of the region’s gambling industry.

Online Gambling Addiction, Demographic, and Losses Stats

In other words, it seems that online gambling has the capacity to surpass estimates, and general gambling, the opposite. 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. 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. These players focus on strategic partnerships and new launches & commercialization for market expansion. They are heavily investing in research, allowing them to introduce innovative offerings and garner maximum revenue in the market.

An estimated total of US$ 66.7 billion as revenue can be attributed to the pandemic, which made gamblers stay at home for a long period. In addition, the incorporation of digital technologies is attracting new customers across the sports betting industry, fueling the growth of the market. With online gambling entering a new phase towards becoming a lucrative market, the next few years will shape the global market on multiple revenue sources—mobile devices being one of them.

Modern smartphones support augmented reality, machine learning, and artificial intelligence, which help developers create immersive and interactive gambling applications. Moreover, the availability of low-cost smartphones is expected to drive the market. The global sports betting market accounted for USD 83.65 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 10.3% from 2023 to 2030. The global sports sector has been greatly influenced by the COVID-19 pandemic due to restrictions on sporting activities across the globe. However, online sports betting gained popularity during the pandemic due to an upsurge in eSports and similar forms of betting. In addition, increased usage of smartphones has led to the wide availability and accessibility of sports betting, consequently propelling the global market. For instance, according to a recent survey from Uplatform, a sports betting and casino operating platform, mobile devices accounted for about 70% of online betting revenue in 2020.