Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 60.01 billion | USD 145.43 billion | 11.70% | 2022 |
The global online bingo gambling market size was worth around USD 60.01 billion in 2022 and is predicted to grow to around USD 145.43 billion by 2030 with a compound annual growth rate (CAGR) of roughly 11.70% between 2023 and 2030.
The report analyzes the global online bingo gambling market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the online bingo gambling industry
Online bingo gambling is an online activity that includes playing bingo games over the Internet. It is the digital version of the popular and more traditional non-virtual bingo games that require players to mark off a number on a card as the caller randomly draws a card. In the online version, bingo players have access to virtual bingo rooms or websites that offer several such games. These platforms will require participants to have access to the internet and create an account, deposit funds, and purchase bingo cards or tickets to participate in the games.
Once the game starts, the software will automatically generate random numbers and it will by itself mark off the corresponding number on the player’s digital board. The main objective is to complete specific patterns on the card such as a diagonal, straight line, or full card before any other player can do so. The online bingo gambling market deals with the launch and advertisement of such websites along with several regulatory hurdles.
Increasing access to the Internet to propel market growth
The global online bingo gambling market is projected to grow owing to the rising access to the internet across the globe. The widespread availability and use of high-speed internet have made more people aware of the existence of such online gaming tools. They can, with the click of a button, participate in any such event even from remote locations. As access to the internet continues to grow, more participants are likely to be added to such portals and websites.
Furthermore, various brands offering such services have undertaken massive advertisement activities with the help of social media influencers who inform people about this software through sites such as Instagram and YouTube leading to higher consumer traffic. In addition to this, the lucrative offer to earn money by sitting at home and playing these games has led to the younger generation getting attracted to such websites causing growth in revenue.
Regulatory requirements to restrict market expansion
Gambling in any form including digital gambling is highly regulated in several parts of the world. Some countries have completely banned such events. This is a major reason for restricted growth in the online bingo gambling industry as companies have to ensure that they meet all mandatory compliance requirements. Moreover, there are several organizations that are working toward spreading awareness around the ill-impact of online gambling tools causing regional bodies to take severe actions against companies running such websites.
Mobile gaming to provide growth opportunities
The global online bingo gambling industry can expect certain growth opportunities driven by the rising penetration of mobile gaming amongst online bingo gamblers. Developing more user-friendly applications and optimizing website performances for mobile play could attract more users. Mobile gaming allows players to enjoy bingo games on the go, providing convenience and accessibility. Another point of higher sales could be the growing activities toward social media integration to reach a wide audience and enhance player engagement.
Competition and saturation to challenge market growth
The online bingo gambling industry is projected to come across certain growth challenges owing to the increasing competition in the market causing it to reach a high saturation level. There are numerous online bingo operators that are consistently working toward gaining player attention and market share. This could cause tough scenarios for all players as they may find it difficult to differentiate themselves from other competitors.
The global online bingo gambling market is segmented based on end-user, device, and region.
Based on end-user, the global market segments are social exuberant, gambling enthusiasts, and others. The industry witnessed the highest growth in the gambling enthusiasts segment. They are people who showcase an extreme passion for different forms of gambling. They tend to enjoy the thrill of taking risks, the competitive aspect of the game, and the potential monetary rewards. Social exuberant are people who enjoy participating in online bingo gambling activities due to community engagement prospects.
They primarily enjoy interacting with other players present in the chat rooms and building higher connections with them. They tend to prioritize the social experience over the monetary aspect of gambling. The last category includes people who are casual players, occasional gamblers, and individuals seeking entertainment or relaxation. The total gambling market in Europe was close to 81 billion euros in 2020 as per Statista.
Based on device, the global online bingo gambling market is divided into mobile and desktop. The former segment registered the highest growth in 2022 due to the growing population that is attracted to mobile platforms due to several reasons. For instance, many people use smartphones and tablets to play these games as they offer ease of use. They are portable devices and can be used on the go.
Players can access their favorite bingo games anytime and anywhere, allowing for greater flexibility and accessibility. These platforms also offer features like touch-screen controls and intuitive interfaces that enhance the gaming experience. The desktop segment is also crucial to industry growth as there is a significant share of consumers who use these tools to play the game. A recent report stated that nearly 80.1% of all online gamblers use mobile phones for these services.
Report Attributes | Report Details |
---|---|
Report Name | Online Bingo Gambling Market Research Report |
Market Size in 2022 | USD 60.01 Billion |
Market Forecast in 2030 | USD 145.43 Billion |
Growth Rate | CAGR of 11.70% |
Number of Pages | 224 |
Key Companies Covered | 888 Holdings, Kindred Group, Bet365, GVC Holdings, Gamesys Group, Jackpotjoy, Mecca Bingo, Foxy Bingo, Gala Bingo, Tombola, Paddy Power, Ladbrokes, William Hill, Unibet, Playtech, Microgaming, Virtue Fusion, Jumpman Gaming, Rank Group, Stride Gaming, Daub Alderney, Bwin, Stars Group, Dragonfish, and Relax Gaming amongst many others. |
Segments Covered | By End-User, By Device, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Europe to lead with the highest growth rate
The global online bingo gambling market is projected to witness the highest growth in Europe and particularly the United Kingdom. The high CAGR could be a result of an existing well-established online bingo industry which is also considered one of the largest markets globally. Other European territories such as Italy, Spain, and Sweden are home to an active online bingo gaming sector which contributed heavily to the regional market.
In this region, the regulatory compliance requirements for the industry may vary from one region to another, but overall Europe is considered to be friendly to online gambling activities when compared to other regions. The growing number of people and the rising job opportunities could attract more consumers in the sector which could further be fueled by the presence of strict regulations to ensure player protection and responsible gambling.
The global online bingo gambling market is led by players like 888 Holdings, Kindred Group, Bet365, GVC Holdings, Gamesys Group, Jackpotjoy, Mecca Bingo, Foxy Bingo, Gala Bingo, Tombola, Paddy Power, Ladbrokes, William Hill, Unibet, Playtech, Microgaming, Virtue Fusion, Jumpman Gaming, Rank Group, Stride Gaming, Daub Alderney, Bwin, Stars Group, Dragonfish, and Relax Gaming amongst many others.
By End-User
By Device
By Region
FrequentlyAsked Questions
Online bingo gambling is an online activity that includes playing bingo games over the Internet.
The global online bingo gambling market is projected to grow owing to the rising access to the internet across the globe.
According to study, the global online bingo gambling market size was worth around USD 60.01 billion in 2022 and is predicted to grow to around USD 145.43 billion by 2030.
The CAGR value of the online bingo gambling market is expected to be around 11.701 % during 2023-2030.
The global online bingo gambling market is projected to witness the highest growth in Europe and particularly the United Kingdom.
The global online bingo gambling market is led by players like 888 Holdings, Kindred Group, Bet365, GVC Holdings, Gamesys Group, Jackpotjoy, Mecca Bingo, Foxy Bingo, Gala Bingo, Tombola, Paddy Power, Ladbrokes, William Hill, Unibet, Playtech, Microgaming, Virtue Fusion, Jumpman Gaming, Rank Group, Stride Gaming, Daub Alderney, Bwin, Stars Group, Dragonfish, and Relax Gaming amongst many others.
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