Casinos and Gambling Market Size to grow by USD 132.17 billion between 2024-2028
According to a research report “ Casinos and Gambling Market” by Type (Poker, Blackjack, Craps, Lottery, Others) Platform (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 132.17 billion, at a CAGR of about 10.43% during the forecast period. The burgeoning online gambling market is experiencing significant growth due to the increasing popularity of digital gaming platforms. With over half of the global population now connected to the internet and the widespread use of smartphones, casino operators are capitalizing on this trend by offering a diverse range of gaming options online. These platforms provide unparalleled convenience, enabling users to access various traditional games such as slot machines and poker, as well as innovative new offerings, from anywhere at any time. This digital transformation is revolutionizing the gambling industry and expanding its reach to a broader audience.
Browse market data tables, figures, and in-depth TOC on “Casinos and Gambling Market” by Type (Poker, Blackjack, Craps, Lottery, Others) Platform (Offline, Online) Geography (North America, APAC, Europe, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By Type, the Poker segment is projected to dominate the market size in 2024
The offline casinos and gambling market segment continues to dominate the global industry, with land-based casinos and standalone gaming machines remaining preferred options for many consumers. Regions such as North America and Europe contribute substantially to the segment's revenue due to the prevalence of established casino industries and regulatory frameworks that primarily allow offline gambling. Privacy concerns regarding online platforms, lack of technology adoption, and government regulations are significant factors contributing to the continued popularity of offline gambling.
By Platform, Offline segment is expected to hold the largest market size for the year 2024
The poker sector holds a substantial market share within the global casinos and gambling industry in 2023. Online poker, a digital adaptation of the classic card game, has gained significant traction in numerous countries. With the proliferation of online gambling platforms, the poker player base has experienced exponential growth. Moreover, live casino games, including poker, are increasingly popular, further fueling market expansion. These interactive games can be accessed via desktops or mobile devices, catering to the evolving preferences of consumers.
North America is forecasted to hold the largest market size by region in 2024
The casinos and gambling market in North America is experiencing significant growth, driven by the increasing adoption of technology and digital platforms, as well as the relaxation of regulations in various forms of gambling. This favorable regulatory environment is enabling vendors to expand their sales channels, deploying more gaming terminals and partnering with retailers. However, it is important to note that the global casinos and gambling market exhibits regional and national variations. In the US, for instance, each state holds the authority to regulate its own gambling market, leading to diverse market landscapes across the country.
The Casinos and Gambling Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Casino Gambling Market encompasses various forms of gambling, including Jackpots, Online gambling platforms, Online casino platforms, Mobile gambling platforms, Live casino offerings, and more. PokerStars Exchange and other online poker cardrooms dominate the scene for poker enthusiasts, while non-athletic events and Online betting on Sporting events have gained popularity. Mixed reality technologies are revolutionizing the industry, offering immersive experiences on Online gambling websites. However, with the rise of digital gambling comes the risk of Casino breaches. Hard Rock Casino and other Casino hotels, Card rooms, Bookmakers, Bingo parlors, and providers of Video gaming terminals must ensure the security of their platforms. Wagering on Casino games, such as Poker, Slots, and Roulette, contributes significantly to the Gambling services sector's Gross gaming revenue. Horse wagering and Lotteries are also integral parts of the market. Sports betting and Entertainment are major drivers, with Betting on various events contributing billions in revenue each year. The Casino Gambling Market continues to evolve, offering new experiences and opportunities for players.
Market Research Overview
The Casino Gambling Market encompasses various forms of gambling, including progressive jackpot slots and slot machines, which offer life-changing jackpots. New casinos continue to emerge, with online gambling platforms and mobile gambling platforms becoming increasingly popular. Offshore betting services and online casino platforms provide access to live casino offerings, attracting gambling enthusiasts worldwide. PokerStars Exchange and other online poker cardrooms host real-money games, while political elections, reality show contests, and non-athletic events fuel the demand for online betting. Mixed reality, extended reality (XR), virtual reality, and augmented reality are revolutionizing the casino industry, with XR Casino and other innovative platforms offering immersive gaming experiences. However, concerns over casino breaches and security vulnerabilities persist, with high-profile incidents at establishments like the Hard Rock Casino. Online gambling websites, e-sports, and betting on sports, cryptocurrency, and horse wagering are also significant market segments. Female gamblers, tourists, and entertainment venues, such as concert halls and restaurants, contribute to the market's growth. The proliferation of mobile phones and internet penetration further expand the reach of gambling services. The global Casino Gambling Market is expected to generate substantial gross gaming revenue, driven by the intent of gamblers to wager money on various events.
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