The Global Gambling Market is subject to grow at a CAGR of 8.45% owing to the increasing influence of online gambling in various online platform. Developments for a fully functional gambling software is expected to benefit market growth over the forecast period. Globally, the market is predicted to generate massive revenue over the forecast period, providing numerous opportunities for market players to invest for research and development in the gambling market.
The major challenge for sustained market growth across the globe is limited legalization across the number of countries. In addition, online gambling highly regulated in various parts of the globe. However, rise in approval for online gambling coupled with recognition of gambling as a tradition in sports such as horseracing are predicted to stimulate market growth over the forecast period. Increase in demand for online casinos and shifting trend towards online gambling are expected to favor market growth in the upcoming years. Increasing consumer preference towards online gambling and large customer pool registering for online casino games are fostering the growth of gambling market in the recent years. Law & regulation supervising online gambling in various parts of world is somewhat unclear, thereby largely affecting market growth.
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Increasing customer base for online sport betting is expected to offer lucrative growth opportunities for market players over next seven years. However, sports gambling is illegal in countries such as India is limiting market expansion to a certain extent. Wide popularity of online gambling in North America and Europe region coupled with higher approval rate in Latin America and Asia Pacific are projected to boost market growth over the forecast period.
The market is broadly categorized into two segment based on type of product such as gaming machines, and B2 & B3 machines. Gaming machines is considered as one of the fastest growing segment in the gambling market with substantial revenue generation in the last few years.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in gambling sector, legalization of online gambling, and existence of well-established industry players in the region. Asia-Pacific region is predicted to hold major market share in the gambling market with massive growth in forecast period. Countries such as China, Japan, Malaysia and Singapore are leading the Asia-Pacific market with strong economic growth, favorable government laws & regulation, rising approval rate of online gambling, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the gambling market are Bet-at-home.com, Bwin Co., 888 Holdings plc, Lad brokes Coral Group plc, BetAmerica Ltd., TVG Network, Camelot Group, Paddy Power Ltd., and Pala Casino.
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The market is divided into the following segments based on geography:
Global Gambling Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
• 888 Holdings
• Camelot Group
• Galaxy Entertainment Group
• MGM Resorts
• New York State Lottery
• Paddy Power Betfair
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