Connect with us

Gambling

Gambling Market Opportunities and Strategies to 2033: Worldwide Trends for Offline, Online and VR Gambling Channels

Published

on

Gambling Market Opportunities and Strategies to 2033: Worldwide Trends for Offline, Online and VR Gambling Channels

Dublin, May 07, 2024 (GLOBE NEWSWIRE) — The “Gambling Global Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.

This report describes and explains the gambling market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global gambling market reached a value of nearly $540.3 billion in 2023, having grown at a compound annual growth rate (CAGR) of 2% since 2018. The market is expected to grow from $540.3 billion in 2023 to $744.8 billion in 2028 at a rate of 6.6%. The market is then expected to grow at a CAGR of 3.6% from 2028 and reach $888.1 billion in 2033.

Growth in the historic period resulted from the strong economic growth in emerging markets, growth in female gamblers, increased betting on e-sports and a rise in disposable income. Factors that negatively affected growth in the historic period were high taxation on casinos and stringent government regulations on gambling.

Going forward, the legalization of gambling, rapid urbanization, increasing use of social media, rising population and increasing internet penetration will drive the market. Factors that could hinder the growth of the gambling market in the future include risks of data theft and privacy.

The gambling market is segmented by type into casino, lotteries, sports betting and other types. The lotteries market was the largest segment of the gambling market segmented by type, accounting for 53.9% or $291.2 billion of the total in 2023. Going forward, the lotteries segment is expected to be the fastest growing segment in the gambling market segmented by type, at a CAGR of 8.2% during 2023-2028.

The gambling market is segmented by channel type into offline, online and virtual reality (VR). The offline market was the largest segment of the gambling market segmented by channel type, accounting for 77.9% or $420.8 billion of the total in 2023. Going forward, the virtual reality (VR) segment is expected to be the fastest growing segment in the gambling market segmented by channel type, at a CAGR of 13.2% during 2023-2028.

The gambling market is segmented by end-user into gambling enthusiasts, social exuberant and other end-users. The gambling enthusiasts market was the largest segment of the gambling market segmented by end-user, accounting for 55.3% or $298.6 billion of the total in 2023. Going forward, the gambling enthusiasts segment is expected to be the fastest growing segment in the gambling market segmented by end-user, at a CAGR of 6.8% during 2023-2028.

Asia-Pacific was the largest region in the gambling market, accounting for 32.4% or $175.1 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the gambling market will be South America and Africa, where growth will be at CAGRs of 23.4% and 8% respectively. These will be followed by Eastern Europe and Asia-Pacific, where the markets are expected to grow at CAGRs of 7.7% and 3.9% respectively.

The global gambling market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 10.7% of the total market in 2022. Flutter Entertainment Plc was the largest competitor with a 2.1% share of the market, followed by Caesars Entertainment, Inc. with 1.5%, MGM Resorts International with 1.4%, The Hong Kong Jockey Club with 1.4%, Penn National Gaming, Inc with 1%, Bet365 Group Ltd with 0.9%, Entain plc with 0.8%, Las Vegas Sands Corp with 0.6%, Genting Berhad with 0.6% and Wynn Resorts, Limited with 0.4%.

The top opportunities in the gambling market segmented by type will arise in the lotteries segment, which will gain $141.4 billion of global annual sales by 2028. The top opportunities in the gambling market segmented by channel type will arise in the offline segment, which will gain $124.6 billion of global annual sales by 2028. The top opportunities in the gambling market segmented by end-user will arise in the gambling enthusiasts segment, which will gain $115.9 billion of global annual sales by 2028. The gambling market will gain the most in Argentina at $91.4 billion.

Market-trend-based strategies for the gambling market include focus on adoption of augmented and virtual reality in casinos, focus on live casinos, focus on new developments in sports betting, focus on mobile gambling, focus on online casinos, focus on use of cryptocurrency in gambling and focus on offshore sports betting.

Player-adopted strategies in the gambling market include focus on expanding operational capabilities through strategic acquisitions, focus on enhancing customers’ experience through the launch of new solutions and focus on enhancing business operations through strategic collaborations and partnerships.

To take advantage of the opportunities, the analyst recommends the gambling companies to focus on expanding live casino offerings for enhanced player experience, focus on expanding mobile gambling platforms, focus on enhancing online casino platforms for millennial appeal, focus on expanding offshore betting services for global reach, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on targeted promotional strategies to boost market presence and focus on expanding services for gambling enthusiasts segment.

Scope

Markets Covered:
1) By Type: Casino; Lotteries; Sports Betting; Other Types
2) By Channel Type: Offline; Online; Virtual Reality (VR)
3) By End-User: Gambling Enthusiasts; Social Exuberant; Other End-Users

Key Companies Featured: Flutter Entertainment plc; Caesars Entertainment Inc.; MGM Resorts International; The Hong Kong Jockey Club: Penn National Gaming, Inc.

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; gambling indicators comparison

Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments

Key Attributes

Report Attribute Details
No. of Pages 367
Forecast Period 2023-2033
Estimated Market Value (USD) in 2023 $540.3 Billion
Forecasted Market Value (USD) by 2033 $888.1 Billion
Compound Annual Growth Rate 5.1%
Regions Covered Global

A selection of companies mentioned in this report includes, but is not limited to:

  • Flutter Entertainment plc
  • Caesars Entertainment, Inc.
  • MGM Resorts International
  • The Hong Kong Jockey Club
  • Penn National Gaming, Inc
  • bet365 Group Ltd
  • Entain plc
  • Las Vegas Sands Corp
  • Genting Berhad
  • Wynn Resorts, Limited
  • Galaxy Macau
  • Kangwon Land Casino
  • Celebrity Cruises
  • Inspire Integrated Resort
  • Sky City Auckland Casino
  • Deltin Daman Casino
  • Resorts World Sentosa
  • Marina Bay Sands Casino
  • Wynn Macau
  • Venetian Macao
  • Spielbank Do-Hohensyburg
  • Casino Gran Madrid Torrelodones
  • Casino de la Vallee – St. Vincent
  • Zeal Network SE
  • Novibet
  • Merkur Casinos
  • CasinoLuck
  • CasinoJoy
  • BetChan Casino
  • NetBet Casino
  • Joy Casino
  • Marriott Hotel & Casino Warsaw
  • NBC Universal
  • Evolution Gaming AB
  • SPIN Casino
  • Buffalo Partners
  • DraftKings Inc
  • BetAmerica
  • Constellation
  • Jumeira
  • Spirit AeroSystems Inc
  • Trilenium Casino
  • Casino Rock’n Jazz
  • Hipodromo Argentino de Palermo
  • Casino Golden Palace
  • Casino Buenos Aires
  • City Of Dreams
  • Farah Experiences LLC
  • Parimatch
  • Federal Palace Hotel & Casino
  • Le Grande Casino
  • Maritim Jolie Ville Resort & Casino Sharm El Sheikh
  • Kairo International
  • Grand West Casino & Entertainment World
  • Sun International
  • Peermont

For more information about this report visit https://www.researchandmarkets.com/r/myy3qq

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


            
Continue Reading