Just a few weeks ago we reported on a study by the consulting firm Btobet, which came to the conclusion that the global sports betting market will grow exponentially. According to a detailed report by the market research company The Business Research Company, the turnover of the entire online gambling market should increase noticeably in the coming years. Most recently, the global online gambling market achieved sales of almost 77 billion euros in 2020 – and the trend is rising sharply.
Annual sales of almost 200 billion US dollars are expected in 2030
Since 2015, the global online gambling market has been showing double-digit annual growth. The average annual growth rate was therefore 13.7%. Growth is expected to continue in the coming years. According to current forecasts, annual sales of over 127.4 billion US dollars are expected as early as 2025. Yet another five years later, it is predicted that the online gambling industry’s revenue could soar to a whopping $192.2 billion. For comparison: Most recently, sales in 2020 were just under 77 billion US dollars.
What are the reasons for the positive forecasts?
The authors of the report titled Online Gambling Global Market Opportunities And Strategies To 2030, By Game Type, published in February 2022, point out that there are various reasons for the positive future prospects. Among other things, one expects “strong economic growth in emerging countries” and an “increasing popularity of digital payments and the increase in disposable income”. All these factors are favoring the positive market prospects and lead that the revenue of the global online gambling market will continue to grow.
Most recently, sports betting accounted for the largest share of the global online gambling market with a market share of almost 47% in 2020. In addition to casino games, other significant market areas included lotteries.
In addition, the mobile segment will continue to gain in importance for the industry. Accordingly, it is expected that the mobile segment with smartphones and tablet PCs will record enormous growth in the coming years. On top of that, more and more online gambling providers are cooperating with influencers and celebrities, so that more and more people are being confronted with the topic of online gambling.
Online gambling operators are currently trying to make the experience even more pleasant for users. For example, they focus on the introduction of modern AI technologies and the integration of cryptocurrencies. A few months ago we reported on the significant increase in crypto payments in online casinos.
According to the latest report, the most important companies in the online gambling industry are Flutter Entertainment plc, Entain plc, bet365 Group Ltd., Kindred Group plc, 888 Holdings PLC, Betsson AB, Betfred, William Hill PLC and International Game Technology PLC.
Conclusion
Most recently, the global online gaming industry generated sales of over 76.7 billion US dollars in the “Corona year” 2020. The latest forecasts from market research firm The Business Research Company indicate that sales could grow to over US$127 billion annually by 2025 and US$192 billion annually by 2030. Interested readers can access the most important facts of the English-language report here.
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