Online Gambling Market Scope
The fastest growing form of gambling across the globe is online gambling. With the advancement of new information and communication technologies (ICT), computers and the internet, new forms of online commerce have emerged. The gambling industry began using the power of the hastily developing virtual market by offering its services in online casinos. The gambling process in an online casino differs from the one in a traditional casino, even if it imitates some of the latter’s elements. The most obvious likeness between an online casino and a traditional casino is in the selection of games.
According to AMA, the Global Online Gambling market is expected to see growth rate of 10.1%Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality of services to cater to the ever-growing demand for Online Gambling. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that European Vendors will contribute to the maximum growth of Global Online Gambling market throughout the predicted period.
bet365 Group (United Kingdom), GVC Holdings (United Kingdom), Kindred Group (Malta), Paddy Power Betfair (Ireland), The Stars Group (Canada), William Hill (United Kingdom), AsianLogic (Philippines), Betsson (Sweden), bet-at-home.com AG (Germany) and Bwin Interactive Entertainment AG (Austria) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Camelot Group (United Kingdom) and Casino Cosmopol (Sweden).
Segmentation Overview
The study have segmented the market of Global Online Gambling market and Region with country level break-up.
On the basis of geography, the market of Online Gambling has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Growing Focus on Online Strategy
Market Growth Drivers:
Rising Number of Live Casinos Worldwide and Increase in Gamification of Online Gambling Industry
Challenges:
Concerns Regarding Gambling Frauds
Restraints:
Low Internet Penetration Hampering the Growth of Online Gambling
Opportunities:
Increasing Adoption of Augmented Reality and Virtual Reality in Gambling and A rise in Betting on eSports
Market Leaders and their Expansionary Development Strategies
In August 2022, Gambling.com Group Limited, a top supplier of player acquisition services for the regulated global online gambling sector, announced its plans to offer marketing services to licensed online sports betting operators in Kansas.
In October 2021, Connecticut completely launched its online casino and sports betting one day after New Jersey declared it was the first state to take in more than USD 1 billion in wagers on sports in a single month. Thousands of wagers were placed in the first few hours.
On June 28, 2001 - The Australian Government passed the Interactive Gambling Act 2001 (IGA). The government said that the IGA was important to protect Australians from the harmful effects of gambling. The offense applies to all interactive gambling service providers, whether based in Australia or offshore, whether Australian or foreign owned. The IGA makes it an offense to provide an interactive gambling service to a customer physically present in Australia, but it is not an offense for Australian residents to play poker or casino games online. Sports betting online is legal in Australia, with many state government licensed sportsbooks in operation.
Key Target Audience
Online Gambling Service Providers, Network Solution Provider, Network Service Providers, Gambling Industry, Governmental Bodies and Research Firms
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.