Global online gambling market is expected to expand at a considerable rate over 2020-2026, driven by the ubiquity of smartphones, internet infrastructural advancement, and greater accessibility to online casino gambling sites.

Likewise, advances in technology, such as VR, IoT, and Blockchain, along with the rising popularity of VR casinos among gamblers, are anticipated to give the online gambling market a significant boost over the stipulated timeframe. High acceptance of VR casinos can be attributed to their ability to produce realistic and immersive experiences as compared to the standard online casinos.

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Technological advancements in the online gambling industry have enhanced the enjoyment-quotient as well as the security aspect of the platforms. In view of massive interest in cryptocurrency such as Bitcoin, the blockchain technology is set to take online games to a new level. Online casinos, in particular, are focusing on implementing this technology as a majority of the gambling portals are currently supporting Bitcoin and other cryptocurrency payments.

The global market has been witnessing a growing number of internet users, thereby bolstering the usage of internet gambling on BetRivers Sportsbook, DraftKings Sportsbook, FOX Bet Sportsbook, and other platforms. For instance, there were around 2,800 active online gambling sites in 2018. These factors are positively influencing overall online gambling industry growth worldwide.

As per authentic reports, the global online gambling market size is expected to cross $160 billion by 2026.

Increasing online gamblers across the globe to drive business landscape

In the wake of the COVID-19 pandemic, the governments have imposed lockdown measures and self-isolation policies, which pose a considerable impact on the online gambling industry expansion, due to the rapid users’ participation in free as well as paid internet gambling activities. High internet connection also remains an influencing factor for the online gambling industry dynamics.

In terms of segmentation by type, the global online gambling market from the poker segment is likely to account for a significant market share, owing to the escalating number of youngsters who play online poker. As per reliable estimates, 20% of the college students play poker on the internet at least once in a month. The game has observed a wide adoption in the UK, the U.S., China, as well as other European countries. Moreover, it is also anticipated to gain immense momentum in India over the forecast spell.

One of the prominent card games in the global gambling industry is rummy, which can be attributed to its increased acceptance and rising online gambling platforms. Additionally, the availability of various payment options such as credit cards, virtual currencies, and online wallets has contributed to its growing popularity, which in turn, is propelling the online gambling market share.

High accessibility to online gambling apps via smartphones

Based on device type, the mobile segment is expected to register high market value in the coming years. The segmental growth can be attributed to the mounting internet penetration or high accessibility to the internet via smartphones across the globe.

With an aim to enhance the online gambling business, the service providers are focusing on targeting the audiences through social media platforms including Facebook, YouTube, and Instagram.

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Rapid shutdown of land-based casinos in Asia Pacific

On the regional front, the Asia Pacific online gambling industry is projected to gain high prominence, as a result of the stringent COVID-19 lockdown and shutdown of physical casino premises in the region.

The competitive landscape of the online gambling market comprises of companies such as Kindred Group, GVC Holdings PLC, Paddy Power Betfair PLC, Fortuna Entertainment Group, 888 Holdings PLC., and The Stars Group, among others. These key players are focusing on increasing their geographical footprints as well as leveraging lucrative growth opportunities through varied strategies such as partnerships and innovative offerings.

For instance, in February 2020, Penn National and Barstool Sports entered a strategic partnership to exclusively promote Barstool’s land-based as well as online casinos & sports betting products to its audiences. This omni-channel approach is driven by the ‘myChoice’ loyalty program that rewards nearly 20 million members for being loyal to both online and retail gaming & sports betting products.

Table of Contents (ToC) of the report:

Chapter 1.   Methodology & Scope

1.1.  Scope & definitions

1.2.  Methodology & forecast parameters

1.3.  Data sources

1.3.1. Secondary

1.3.2. Primary

Chapter 2.   Executive Summary

2.1.  Online gambling market 360º synopsis, 2016 – 2026

2.1.1. Business trends

2.1.2. Regional trends

2.1.3. Type trends

2.1.4. Device type trends

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