On-line Gaming Market Projected to Attain US $ 158.20 Billion by 2028; Rising recognition of digital gaming platforms to catalyze market development: Fortune Enterprise Insights ™

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Pune, India, February 17, 2021 (GLOBE NEWSWIRE) – The global online gaming market is expected to reach size $ 158.20 billion until 2028 with a CAGR of 11.4% during the forecast period. Fortune Business Insights ™ will provide this information in a new report entitled “Online Gambling Market, 2021-2028. " According to the report, the market in 2020 was $ 66.72 billion.

Rapid adoption of online gambling amid COVID-19 to boost market

The global health and economic crisis sparked by the COVID-19 pandemic forced governments in several countries to put in place strict lockdowns and social distancing measures. Companies were quickly adopting remote working models, which resulted in large swaths of the working population working from home. With most non-essential services and locations including casinos shut down, gamblers and gamblers have rapidly shifted to virtual platforms, accelerating the growth of the online gambling market. For example, an article published by New York University revealed that digital gambling platforms were rapidly gaining momentum in Canada after the coronavirus outbreak. In Australia, online casino spending soared 67% in April 2020, according to a report from Concordia University, Canada. The coronavirus pandemic has therefore proven beneficial for this market, allowing it to register a healthy CAGR of 11.2% and reach a value of $ 74.17 billion in 2021.

Click here for the short term and long term impact of COVID-19 on this market.

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Market segments

Based on type, the market has been divided into sports betting, casinos, poker, lottery, bingo, and others, with the lottery segment holding a share of 15.1% on the world market and a share of 15.4% in the UK market in 2020.

On a device basis, the market segments include desktop, mobile, and others. By region, the market has been divided into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.

Highlights of the report

The report offers a detailed study of the various factors influencing the market's growth path as well as a holistic analysis of the barriers that are hindering the market. Additionally, the report includes a microscopic examination of the regional and competitive dynamics affecting the market, as well as an in-depth assessment of each of the market segments. The insights contained in the report are based on industry leading research conducted from primary, secondary and tertiary sources.

Driving factor

Introducing advanced technologies in virtual gaming to fuel the market

Advanced, intelligent technologies like artificial intelligence (AI) and blockchain are increasingly being used by online gambling platforms to ensure a safe place for enthusiasts. This trend is heralding in startups that develop and offer new types of gambling platforms based on intelligent technologies. For example, Edgeless, founded in 2018, was the first Ethereum-based virtual casino to use distributed ledger technology to secure payouts. Similarly, Tombola is a popular lottery and gambling platform based on cryptocurrency and other blockchain-enabled tools. Another example is the Canada-based startup Quarter4, which uses AI to offer simulations, content and forecasts for sports weather. The inclusion of New Age solutions in digital gaming opens up new development paths for this market.

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Regional insights

Fortune Business Insights predicts Europe as the headliner of the global market

Europe is expected to dominate the online gambling market share during the forecast period as sports enthusiasts across the continent invest heavily in online sports betting. In addition, a healthy betting culture in Europe will further strengthen the prospects of the market in the region. In 2020 the European market size was $ 30.92 billion.

The existence of a secure connectivity infrastructure and strict gambling regulations will place North America in second place in terms of revenue generation. On the other hand, growing investments in online gambling in South America, driven by regulations in Colombia and Argentina, are expected to accelerate the expansion of the market in that region.

Competitive landscape

Key players in strengthening businesses through innovative collaboration

Given the increasing speed of online games amid the COVID-19 pandemic, key players in this market are entering into strategic collaborations with giants of the gaming industry to deepen their market presence. These companies are developing innovative online gambling platforms to attract players and gain momentum in this fast-moving market.

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Industry developments:

  • December 2020: BetMGM founded BetMGM Casino in Pennsylvania to bring players in the state closer to its online gambling portfolio. The platform will offer sophisticated mobile casino games that will be available on iOS, Android and desktops.
  • February 2020: CBS Sports and William Hill have signed an agreement whereby William Hill will become the exclusive provider of betting data and sports betting for all CBS Sports platforms. The partnership will integrate sports betting, media and technology to improve fan engagement.

List of Key Players Covered In This Market Report:

  • Slots Heaven Casino (Slots Heaven Casino)
  • Sky Betting & Gaming (Leeds, UK)
  • SPIN Casino (Canada)
  • DraftKings Inc. (Massachusetts, USA)
  • Betfred (Warrington, UK)
  • BetAmerica (California, USA)
  • LeoVegas AB (Stockholm, Sweden)
  • Betsson AB (Stockholm, Sweden)
  • StarsGroup.com (Ontario, Canada)
  • Kindred Group Plc. (Valletta, Malta)
  • Mansion Casino (Gibraltar)
  • Evolution Gaming AB (British Columbia, Canada)
  • Scientific Games Corporation (Nevada, United States)
  • Buffalo Partners (New York, United States)
  • bet-at-home.com AG (Germany)
  • 888 Holdings PLC (Gibraltar)
  • Bet365 (Stoke-on-Trent, UK)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • William Hill Plc. (London, United Kingdom)
  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)

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Detailed table of contents:

  • introduction
    • Definition by segment
    • Research methodology / approach
    • Data sources
  • The central theses
  • Market dynamics
    • Macro and microeconomic indicators
    • Drivers, restrictions, opportunities and trends
    • Effects of COVID-19
      • Short term effects
      • Long-term effect
  • Competitive landscape
    • Business strategies adopted by key players
    • Consolidated SWOT Analysis of Key Players
    • PESTLE analysis
    • Porter's Five Forces Analysis
    • Analysis of the supply chain
  • Global Online Gambling Key Players Market Share Insights and Analysis, 2020
  • Key market insights and strategic recommendations
  • Main Responses of the Primary Respondent
  • Company profile (only covered for 10 important players)
    • overview
      • Key management
      • Headquarters etc.
    • Offers / business areas
    • Key details (key details are subject to the availability of data in the public area and / or in chargeable databases.)
      • Employee size
      • Important financial data
        • Past and current earnings
        • Gross margin
        • Geographical share
        • Division share
    • Recent developments
  • Appendix / Appendix
    • Global Online Gambling Market Estimates and Forecasts (Quantitative Data), by Segments, 2017-2028
      • By type (value)
        • Sports betting
        • Casinos
        • poker
        • lottery
        • bingo
        • Others (skill gaming, etc.)
      • By devices (value)
        • Desktop
        • Cell phone, mobile phone
        • Others (tablet, iPad, etc.)
      • By region (value)
        • North America
        • South America
        • Europe
        • Middle East and Africa
        • Asia Pacific

Table of contents continued ..

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