Online Casino Market Size, Share, Analysis, Trends, Growth, 2032

Online Casino Industry Prospective:

The global online casino market size was evaluated at $17 billion in 2023 and is slated to hit $39 billion by the end of 2032 with a CAGR of nearly 12.5% between 2024 and 2032.

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Online Casino Market: Overview

Online casinos are also referred to as internet or virtual casinos. Reportedly, they are digital versions of brick & mortar casinos and they help gamblers to wager & play casino games with the help of web. These tools repeat the experience of conventional land-based casinos that offer a number of games such as table games, video pokers, and slots to end-users. Moreover, online casinos can be easily accessed.

Key Insights

• As per the analysis shared by our research analyst, the global online casino market is projected to expand annually at the annual growth rate of around 12.5% over the forecast timespan (2024-2032)
• In terms of revenue, the global online casino market size was evaluated at nearly $17 billion in 2023 and is expected to reach $39 billion by 2032.
• The global online casino market is anticipated to grow rapidly over the forecast timeline owing to massive acceptance of crypto-currencies as a mode of payment and strict laws regulating online gambling in various countries.
• In terms of game type, the slot machines segment is slated to register the highest CAGR over the forecast period.
• Based on platform, the mobile segment is predicted to contribute majorly towards segmental space in the upcoming years.
• Region-wise, the Asia-Pacific online casino industry is projected to register the fastest CAGR during the assessment timespan.

Online Casino Market: Growth Factors

Changing customer tastes and lifestyles is likely to prop up the global market expansion over 2024-2032

Escalating use of smartphones and web penetration are expected to boost the growth of the global online casino market in the years ahead. Moreover, rapidly changing consumer behavior and enforcement of strict laws will embellish the expansion of the market globally.

Furthermore, integrating of augmented reality and virtual reality is anticipated to prop up the market surge in the ensuing years. Massive acceptance of crypto-currencies as a mode of payment and strict laws regulating online gambling in various countries is expected to crop up the global market expansion over the forecast period. A surge in the spending capacity of customers due to rising per capita income is expected to embellish the expansion of the market globally.

Online Casino Market: Restraints

A surge in the cyber terrorism is projected to halt the global industry expansion in the coming eight years

An increase in the number of cyber-attacks and payment processing issues can restrict the expansion of the global online casino industry. In addition to this, proficient payment processing methods are necessary for online casinos and this can retard the global industry surge in the years ahead.

Online Casino Market: Opportunities

A rise in the gaming activities due to smartphone usage will generate new growth facades for the global market

Onset of new technologies such as AI, VR, and AR along with the use of block chain technologies for improving security, trust, and transparency is predicted to create new growth avenues for the global online casino market. Additionally, surging popularity of mobile gaming is expected to embellish the growth of the market globally.

Online Casino Market: Challenges

An increase in the incidences of hacking & cyber-attacks and data leaks can challenge the global industry elevation

Changing laws and strict laws such as tax laws, licensing needs, and restrictions on marketing activities regulating online gambling can hamper the global online casino industry expansion. In addition to this, identity theft and a rise in the online frauds can obstruct the global industry expansion over the estimated timeline.

Online Casino Market: Report Scope

Online Casino Market: Segmentation

The global online casino market is divided into game type, platform, and region.                                             

In terms of game type, the online casino market across the globe is segmented into slot machines, live dealer games, and table games segments. Apparently, the slot machines segment, which garnered nearly 45% of the global market revenue in 2023, is set to record fastest CAGR in the coming few years owing to high return to player percentage and user-friendliness of the game.

Based on the platform, the global online casino industry is divided into mobile and desktop segments. Apparently, the mobile segment, which dominated the global industry share in 2023, is predicted to contribute majorly towards the segmental expansion in the analysis timeline and this can be as a result of user-friendly interface and portability along with need for faster online transactions.

Online Casino Market: Regional Insights

Europe is likely to maintain leading status in the global market over the projected timeline

Europe, which accounted for about half of the global online casino market size in 2023, is predicted to establish a leading position in the global market in the analysis timespan.

Moreover, the regional market expansion in the coming few years can be owing to surging web penetration in various European countries along with gambling tradition in the continent. In addition to this, established regulations in the countries such as Malta and UK will spur the market surge in Europe.

Asia-Pacific online casino industry is anticipated to register the highest CAGR in the expected timespan. The exponentiation growth of the industry in APAC can be subject to supportive laws related to online casinos in the countries such as Japan and Singapore. Many of the countries in Asia have a big history of gambling, thereby creating lucrative opportunities of growth in APAC region. An increase in the per capita income and surging spending on leisure activities such as online gambling will spur the industry surge in APAC.

Online Casino Market: Competitive Space

The global online casino market profiles key players such as:

• DraftKings
• Amusnet
• Flutter Entertainment plc
• Bet365
• Playtech
• 888 Holdings Plc
• Betsson
• Pragmatic Play
• Microgaming
• Evolution Gaming
• NetEnt
• Hacksaw Gaming
• Kindred Group
• William Hill
• FanDuel

The global online casino market is segmented as follows:

By Game Type

• Slot Machines
• Live Dealer Games
• Table Games

By Platform

• Mobile
• Desktop

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa