The Business Research Company’s Gambling Market covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market.
The gambling market consists of sales of gambling services and related goods by entities that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting.
The global gambling market size reached a value of nearly $449.3 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.1% since 2014, and is expected to grow at a CAGR of 5.9% to nearly $565.4 billion by 2022.
Major players in the Gambling Market are China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Las Vegas Sands Corporation, Japan Takarakuji lottery
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Major trends influencing the gambling market include:
Security In Online Gambling – Online gambling services providers are increasingly focusing on security to prevent fraud and in-game abuse, and provide enhanced customer experience. They are employing multifactor authentication technologies such as device fingerprinting solutions, PINs (personal identification numbers), biometric sensors, and trusted Bluetooth devices. These technologies provide online gambling sites with unique insights into user account creation for fraud analysis. They also eliminate the need for storing and processing personal information of the users, providing a high level of security.
The Gambling market is segmented by specialty, by product type, by sales channel and by geography.
By Product Type – The gambling market can be segmented by product type into
c) Sports Betting
The lotteries segment was the largest segment of the gambling market in 2018 at 46.1% or $207.3 billion. The sports betting segment is expected to be the fastest-growing segment going forward at a CAGR of 6.9%.
By Channel Type – The casino, lotteries, sports betting, and others segments are further segmented by sales channel into
c) Virtual Reality (VR)
Offline gambling was the largest segment of the casino market by sales channel in 2018 at 94.3%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 21.7%.
Asia-Pacific was the largest market for gambling, accounting for 32.7% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Asia-Pacific and Africa will be the fastest growing regions in the gambling market, where growth will be at CAGRs of 7.9% and 7.7% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 6.13% and 6.12% respectively
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