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This professional and specialized report study examines the technical and business perspective of online gambling & betting industry. The report provides a historical analysis of the industry as well as the projected trends expected to be witnessed in the online gambling & betting market. The report study analyzes the market statistics at the global as well as the regional levels to gain an in-depth perspective of the overall online gambling & betting market. The historical insights are provided from 2016 to 2019 and projected trends are provided from 2020 to 2026. The quantitative data is provided in terms of value (USD Billion) for 2016 – 2026. The qualitative data is reinforced by analyzing and providing numerous market dynamics (directly or indirectly affecting the industry) such as growth drivers, restraints, challenges, and opportunities.
We have included various industry analysis models in our report and extensively demonstrated the key business strategies and competitive landscape of the online gambling & betting market in our study.
Our study also includes an analysis of Porter’s Five Forces framework for understanding the competitive strategies adopted by various stakeholders involved in the entire value chain of online gambling & betting market. It also encompasses PESTLE analysis and SWOT analysis.
The report also offers an in-depth analysis of the market shares of each industry player and gives an outline of the market position of key players in the online gambling & betting market. Moreover, the study offers wide coverage of key strategic advances witnessed in the market such as new product launches, acquisitions & mergers, collaborations & joint ventures, funding & VC activities, agreements, partnerships, R&D activities, and regional expansion of key players of the online gambling & betting market.
The research study provides a critical assessment of the online gambling & betting industry by logically segmenting the market on the basis of game form type, component analysis, device analysis, and regions. Based on the past, present, and future trends, all the segments were analyzed from the bottom up, and the market sizes have been estimated from 2020 to 2026. The regional segmentation of the online gambling & betting industry includes the holistic bifurcation of all the five major continents including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Online gambling and betting mean playing games by using the internet. It is gambling on casino games or sports over the internet. The online betting segment includes the sports category, such as the FIFA World Cup and European Championships. Moreover, online betting is especially popular in greyhound racing and horse racing. Online betting is the fastest-growing segment during the forecast period. Chabot, artificial intelligence, and machine learning are driving market growth. The growing number of the female population in casinos and the convenience in the mode of payment such as cashless payment during the gaming are expected to boost online gambling & betting market growth during the forecast period.
Increasing digitization and legalization of online betting and gambling across the globe is expected to fuel market growth. An increase in the number of internet users is driving the online gambling & betting market. In 2019, above 46% of the global population had access to the internet as compared to 43% in 2017. The number is anticipated to rise due to digitalization and legalization. Thus, the growth of the online gambling & betting market is anticipated in the near future. The increasing preference of gamblers to online payment mode owing to a growing trust in online payment options. Increasing the use of mobile phones, high internet penetration is driving market growth in various regions. Increasing investment of major players in backward integration and the software & technology in order to strengthen its presence is driving the market growth. The regulation imposed by the government can create restraints in the online gambling and betting market. In major countries such as India, and China, it is illegal to play gambling or betting may restrict market growth. Additionally, the online gambling and betting sector is unregulated in several countries may slow down the growth of the market. Adoption of advanced technology such as virtual reality (VR) headsets used for online gaming is expected to drive the online gambling and betting market. VR headsets provide a better involvement for gambling and it is observed that online gambling sites are selecting for this technology may create several opportunities for online gambling and betting market. Moreover, changing rule and regulations in different countries are encouraging market growth. Several companies are receiving global recognition through high-profile sponsorships. These factors are anticipated to boost the online gambling & betting market.
The online gambling & betting market is segmented based on the game form type, component analysis, and device analysis. On the basis of game form type segmentation, the market is classified into poker, casino, sports betting, bingo, lottery, and others. In terms of component analysis segmentation, the market is divided into software, and services and by device analysis, the market is bifurcated into desktop, mobile, and others.
Some of the essential players operating in the online gambling & betting market are Bet365 Group Ltd., Betfred Ltd., 888 Holdings plc, Paddy Power Betfair plc, GVC Holdings plc, Fortuna Entertainment Group, The Stars Group, William Hill plc, Kindred Group, Rank Group, Hong Kong Jockey Club, and Betsson AB.
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