Global online gambling & betting market anticipated to reach above USD 100 billion by 2026, at a CAGR of 10% from 2020 to 2026.
NEW YORK, UNITED STATES, May 25, 2020 /EINPresswire.com/ — Facts and Factors has authored “Online Gambling & Betting Market By Game Form Type (Poker, Casino, Sports Betting, Bingo, Lottery, and Others), By Component Analysis (software, and services) and By Device Analysis (Desktop, Mobile, And Others): Global Industry Perspective, Market Size, Statistical Research, Market Intelligence, Comprehensive Analysis, Historical Trends, and Forecasts, 2019–2026”. The global online gambling & betting market in 2019 is approximately USD 50 billion and is anticipated to reach above USD 100 billion by 2026. The anticipated CAGR for the online gambling & betting market is around 10% from 2020 to 2026.
Online gambling and betting, is generally known as internet gambling. It is gambling on different games such as casino or sports over the internet. Some of the common games in the market include poker, bingo, lotteries, roulette, slots, and keno. Online gambling and betting have perceived reflective propagation over the past 8-10 years. Easy availability of these games and the temptation of easy money are the leading factors fueling the overall online gambling and betting market growth.
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Some of the major players of global 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, The Betway Group, William Hill plc, Kindred Group, Rank Group, Hong Kong Jockey Club, and Betsson AB, and others.
Online gambling and betting market are enormously motivated by the firm growth in the internet organization along with the strong awareness of mobile devices. The rising propagation of mobile applications has widened the opportunity for overall market growth. Thus, the constant rise observed across internet usage and online streaming & gaming is anticipated to fuel the market growth in the following years.
Based on game form, the global online gambling & betting market is divided into poker, casino, sports betting, bingo, lottery, and others. A sports betting was the largest segment of the online gambling & betting market in 2019. It is expected to register growth by CAGR of 11% over the forecast period.
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Based on component type, the global online gambling & betting market is segmented into software, and services. In 2019, the software segment is anticipated to acquire a major share in the global online gambling & betting market. The service segment is expected to witness the fastest growth during the forthcoming years.
Based on device type, the global online gambling & betting market is segmented into the desktop, mobile, and others. In 2019, the desktop segment dominated the global online gambling & betting market. The mobile segment is projected to be the fastest-growing device type over the next five years attributed to increasing the adoption of mobile by consumers, especially in developing countries.
Europe dominated the market of online gambling & betting accounting for 52% share of the online gambling & betting consumption globally in 2019. Europe is expected to project a huge revenue in the global online gambling & betting market, mainly due to the enormous demand originating from the Western European countries. The Asia Pacific online gambling & betting markets are projected to demonstrate significant growth rate in the near future, due to rise in awareness regarding gambling & betting, increased internet penetration, increase in population, and significant growth in GDP in the developing countries such as India, China, etc.
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This report segments the Online Gambling & Betting market as follows:
Global Online Gambling & Betting Market: By Game Form Type Segment Analysis
Global Online Gambling & Betting Market: By Device Analysis Segmentation
Global Online Gambling & Betting Market: By Component Analysis Segment
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