According to the Market Statsville Group (MSG), the Global Online Gambling Market size  was valued at USD 90535 million in 2023 and is expected to grow from USD 99,588.5 million in 2024 to USD 234,824.47 million by 2033, by exhibiting a CAGR of 10% during the forecast period (2024-2033)

The online gambling market has recorded a wider reach over the past few years due to enhancements in technologies, internet penetration, and increasing adoption of mobile devices. It incorporates online casinos, sports betting, poker, and lottery games. The ease and convenience provided by online modes have attracted many different types of players from all over the world. Regulatory changes in many countries have also contributed to the growth of the market by enabling legal and safe online gambling environments. This has also been complemented by innovations such as live dealer games, virtual reality experiences, and cryptocurrency transactions, all of which improve user experience and expand this market.  In a competitive landscape, with several key players endeavoring to create unique and immersive experiences, the retention and attraction of customers become essential. Another factor is that the online casino market looks forward to more yearly growth and change along with changes in social and economic conditions, embracing new technologies and consumer preferences.

Definition of the Online Gambling

Online gambling refers to the process of placing wagers on games of chance or skill through the Internet, including online casinos, sports betting, poker, and lotteries. Through websites or mobile applications, a player can just log in and be presented with a host of game options anywhere with an available internet connection.

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Scope of the Global Online Gambling Market 

The study categorizes the Online Gambling market based on type, device, payment method, and, end-User area at the regional and global levels.

By Type Outlook (Sales, USD Million, 2019-2033)

• Casinos
• Sports Betting
• Bingo
• Poker

By Payment Method Outlook (Sales, USD Million, 2019-2033)

• Credit/Debit Cards
• E-Wallets
• Cryptocurrencies
• Bank Transfers
• Others

By End-User Outlook (Sales, USD Million, 2019-2033)

• Casual Gamblers
• Frequent Gambler
• Others

By Device Outlook (Sales, USD Million, 2019-2033)

• Mobile
• Desktop

By Region Outlook (Sales, USD Million, 2019-2033)

• North America 
  • US
  • Canada
  • Mexico
• Europe 
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • The Netherlands
  • Norway
  • Czech Republic
  • Rest of Europe
• Asia Pacific 
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

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Sports betting segment accounts for the largest market share by type

Based on the type, the market is divided into Casinos, Sports Betting, Bingo, and Poker. In the online gambling market segments by type, sports betting dominates for some potent reasons. Sports betting has global appeal because various sports events and leagues attract a mass following across the globe. This segment has frequent and continuous sporting events, thereby keeping users engaged throughout the year. Improvements in mobile technology have also helped users bet on the move, hence improving participation rates. Then there is the evolving regulatory structure of many countries that accommodated the demand for legal sports betting, hence stretching this market both in terms of reach and legitimacy. The fierce competition among the operators in betting sports gets waylaid into various betting propositions and promotional offers, attracting a good loyal customer base. Broad appeal, integration of technology, support from regulatory agencies, and competitive offers strategically place sports betting at the top of online gambling.

Europe accounted for the largest market share by Region

Based on the regions, the global market of Online Gambling has been segmented across North America, Europe, the Middle East & Africa, South America, and Asia-Pacific. Europe dominates the online gambling market for several reasons. Some countries in the region have well-established and clear legal regimes that bring about legal clarity for operators and punters alike. Such clarity has fostered a solid market system in which operators can operate without too many problems—both internationally and locally. 
In addition, internet access and digital methods of payment enjoy high penetration across the continent. This is further motivated and supported by the large and active player base across many European countries where gambling is culturally accepted. In turn, strong operators of gambling, headquarterings in Europe, make it very value-enhancing, as they build on local competencies and infrastructure to conduct worldwide expansion. That's just the perfect combination of one region to put Europe at the top: regulatory stability, technological infrastructure, and a mature market.

Competitive Landscape: Global Online Gambling Market 

This leaves some operators fighting for a foothold in the very competitive landscape of the online gambling market worldwide. Competitive strategies of major players offer diversified sets of games and cutting-edge technologies such as live streaming and virtual reality. Attractive sign-ups and stipulated promotional offers serve the purpose of customer acquisition and retention. Compliance with regulations at par, along with cybersecurity measures and customer support, are the highlights that separate industry leaders in this highly competitive and fast-moving market domain.

Major players in the global Online Gambling market are: 

• FireKeepers
• Bally’s Corporation
• 888 Holdings Plc.
• Betsson AB
• Bet 365 Group Ltd.
• Churchill Downs Inc.
• Entain Plc.
• Flutter Entertainment Plc.
• Ladbrokes Coral Group Plc
• Kindred Group
• Sky Betting & Gambling
• The Stars Group Plc.
• Sportech Plc
• William Hills Limited

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Recent Development 

• In August 2023, 888AFRICA will buy BetLion, a licensed operator in Kenya and Zambia since 2019, trading as 888bet and a joint venture of 888 Holdings, further extending its presence in the region by onboarding new talent and associated benefits from product offerings tailored to local characteristics. In addition to the acquisition and new license in the Democratic Republic of Congo, coupled with this move, the company is still better placed for further growth and customer base expansion. At the same time, 888AFRICA headquarters in Nairobi complements an existing hub in Dar es Salaam, Tanzania.
• In June 2023, Inspired Entertainment, Inc. today announced that it had signed a long-term contract extension with leading online gambling operator and long-time Inspired partner bet365 to continue to be their provider of Virtual Sports.