Online Gambling & Betting Market Trend, Share, Growth, Size Analysis and Forecast 2030

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Online gambling is known as internet gambling, it makes use of an online platform for various games and betting such as poker, blackjack, roulette, sports betting, race betting, lottery, bingo, etc. Money is transferred by credit & debit cards, electronic check, money orders, and cryptocurrencies.

The online gambling and betting market is expected to propel owing to its legalization in the U.S., the UK, France, Poland, Italy, Czech Republic, Malta, and the other European nations. Further, proposals are being raised in parliaments of the Netherlands, Russia, Germany, Asia Pacific countries to legalize online gambling. Increase in the number of internet users is driving the online gambling & betting market. In 2016, about 46% of the global population had access to the internet as compared to 43.5% in 2015. The number is anticipated to rise due to digitalization in the Asia Pacific region. Thus, the growth of the online gambling & betting market is evident in the near future.

Technological developments are anticipated to fuel the growth of online gambling & betting market. Adoption of the ”Virtual Reality (VR)” headsets by various casinos to provide a better experience in online gambling is propelling the market growth. In 2015, Slots Million online casino was one of the first to use VR technology. With the rising investments in VR technology, it is imminent that the online gambling market will propel during the forecast period. However, rising cyber attacks can prove to be a restraining factor to the growth of online gambling & betting market. The attack on E-Sports Entertainment Association in 2016 resulted in 1.5 million profiles being hacked. It is evident that cybersecurity is essential for online gambling.

The online gambling & betting market is segmented into game form, component, and region. Based on game form, the global online gambling & betting market is divided into poker, casino, sports betting, bingo, lottery, horse racing betting, and others. Poker segment is projected to grow at a substantial rate during the estimated period owing to the rise of social gaming.

North America is expected to hold a substantial share in the global online gambling & betting market during the projected timeframe. As North America is the most technologically advanced region the market growth is evident. Further, the U.S. was one of the first nations to legalize online gambling in some cities. Thus, it is anticipated that North America will make a noteworthy contribution to the rise of global online gambling & betting market during the forecast period.

Some of the top players in the online gambling & betting market are Bet365 Group Ltd., Betfred Ltd., 888 Holdings Plc, Paddy Power Betfair Plc, GVC Holdings Plc, Fortuna Entertainment Group, The Stars Group, The Betway Group, William Hill Plc, Kindred Group, Rank Group, Playtech, William Hill Plc, Hong Kong Jockey Club, and mybet Holding, among others.