Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 61.5 Billion | USD 114.4 Billion | 10.9% | 2021 |
FrequentlyAsked Questions
The market demand for digital gambling is being driven by the increasing adoption of smartphones, developments in internet technology, and increased spending power of individuals, among other factors. In addition, players' curiosity will be piqued as online gambling software vendors spend extensively on new technology to improve the user experience.
According to the Market Research report, the Online Gambling & Betting Market was worth about 61.5 (USD billion) in 2021 and is predicted to grow to around 114.4 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 10.9 percent.
Europe dominated the market in the forecast period. The legalization of gambling in nations like France, Germany, Spain, Malta, and Italy has fueled the expansion. The increased use of smartphones, the availability of high-speed internet, and the growing popularity of online casinos are all positive factors for market growth.
Some of the main competitors dominating the Online Gambling & Betting Market include - Bet365 Group Ltd., Betfred Ltd., 888 Holdings plc., Paddy Power Betfair plc, GVC Holdings plc, Fortuna Entertainment Group, and Others.
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