Online Gambling - Worldwide

Worldwide

Revenue in the Online Gambling market is projected to reach €90.09bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 6.68%, resulting in a projected market volume of €124.50bn by 2029.
In the Online Gambling market, the number of users is expected to amount to 290.5m users by 2029.
User penetration will be 6.2% in 2024 and is expected to hit 7.7% by 2029.
The average revenue per user (ARPU) is expected to amount to €0.40k.
In global comparison, most revenue will be generated in the United States (€23,160.00m in 2024).
With a projected rate of 69.4%, the user penetration in the Online Gambling market is highest in Canada.

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Analyst Opinion

The Online Gambling market Worldwide is experiencing significant growth due to changing customer preferences and favorable market trends.

Customer preferences: Customers are increasingly turning to online gambling platforms for convenience and accessibility. The ability to gamble from the comfort of their own homes, at any time of the day, has made online gambling a popular choice. Additionally, the wide variety of games and betting options available online cater to different customer preferences, attracting a diverse range of players.

Trends in the market: One of the key trends in the online gambling market is the rise of mobile gambling. With the increasing penetration of smartphones and the availability of high-speed internet, more and more players are using their mobile devices to access online gambling platforms. This trend has opened up new opportunities for operators to reach a larger customer base and offer a seamless gambling experience on the go. Another trend in the market is the integration of social elements into online gambling platforms. Many operators are incorporating social features such as chat rooms and leaderboards to enhance the interactive nature of online gambling. This not only adds a social aspect to the experience but also encourages player engagement and loyalty.

Local special circumstances: Different countries and regions have their own unique circumstances that influence the development of the online gambling market. In some countries, online gambling is fully legalized and regulated, creating a safe and secure environment for players. This regulatory framework attracts both operators and players, driving market growth. However, in other countries, online gambling may be restricted or even illegal. This creates a more challenging operating environment for operators, as they must navigate legal and regulatory barriers. In such cases, players may turn to offshore gambling sites that are not subject to local regulations, leading to a loss of revenue for the local market.

Underlying macroeconomic factors: The growth of the online gambling market is also influenced by macroeconomic factors. Disposable income and consumer spending play a significant role in determining the demand for online gambling services. In regions with a strong economy and high disposable income, players are more likely to spend money on online gambling. On the other hand, in regions with economic uncertainty or low disposable income, the demand for online gambling may be lower. Furthermore, technological advancements and infrastructure development also impact the growth of the online gambling market. Access to high-speed internet and reliable payment systems are essential for a seamless online gambling experience. Countries with well-developed digital infrastructure are more likely to see higher adoption of online gambling. In conclusion, the Online Gambling market in Worldwide is driven by changing customer preferences, favorable market trends, local special circumstances, and underlying macroeconomic factors. The rise of mobile gambling, integration of social elements, and regulatory frameworks are shaping the market dynamics. Additionally, disposable income, consumer spending, and technological advancements are important factors that influence market growth.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.