Research Expert: Sarah Overall
  • Published: Mar 2025
  • Pages: 150
  • SKU: IRTNTR41072

  • Gambling Market size to grow by USD 339.9 billion from 2024 to 2029, Growing initiatives on betting on e-sports to drive growth - Technavio

    The global gambling market is on track for remarkable growth, projected to rise by USD 339.9 billion from 2024 to 2029, according to a new Technavio report. With a forecasted compound annual growth rate (CAGR) of 8.1%, the booming online gambling sector, innovative gambling platforms, and evolving gambling trends. The report, "Gambling Market Size, Industry Analysis," dives into the Gaming industry, spotlighting market segmentation, gambling revenue, and key drivers shaping this lucrative landscape.The industry, spanning casino games, sports betting, and poker online, is experiencing a digital revolution. Mobile gambling and technologies like virtual reality (VR) and augmented reality (AR) are enhancing live casino experiences and boosting virtual betting. As gambling regulations evolve and consumer demand grows, companies are leveraging gambling software and betting apps to expand their reach, driving significant gambling revenue globally. Explore exclusive insights into online casinos, sports betting, and more. Request Your Sample Here.

    Global Gambling Market 2025-2029

    Market Segmentation: A Closer Look

    The Technavio report breaks down the gambling market by type, platform, and geography, revealing key insights into its growth:

    By Type:

    • Lottery: A staple due to its accessibility and broad appeal.
    • Sports Betting: Gaining momentum with real-time betting odds and esports betting popularity.
    • Casino Games: Dominating with slot machines, live casino offerings, and casino bonuses.

    By Platform:

    • Offline: Traditional casinos and betting shops remain relevant.
    • Online: Driven by betting apps, gambling platforms, and seamless online gambling access.

    By Geography:

    • Europe: A powerhouse with stringent gambling regulations and high gambling revenue.
    • North America: Led by the U.S., where online casinos and sports betting thrive.
    • APAC: China and Singapore lead, despite complex gambling regulations.
    • South America: An emerging market for mobile gambling and casino games.
    • Middle East and Africa: Gradual growth amid cultural and legal constraints.

    This segmentation highlights the pivotal role of online gambling and gambling platforms in reshaping the iGaming industry.

    Key Countries Fueling the Boom

    The report pinpoints nations driving the gambling market’s expansion:

    • United States: A leader in sports betting and online casinos, spurred by relaxed gambling regulations.
    • China: Dominates APAC with lottery and casino games, despite online restrictions.
    • United Kingdom: A hub for poker online and betting apps, with a digital ecosystem.
    • Singapore: Excels in live casino offerings, attracting global players.
    • Germany: Growing through virtual betting and regulatory reforms.

    These countries are setting gambling trends, influencing gambling revenue and market dynamics worldwide.

    Market Dynamics: What’s Shaping the Industry

    The analysis explores key forces impacting the gambling market:

    Drivers:

    • Mobile gambling, offering instant access to slot machines and betting odds.
    • Rising demand for sports betting and esports betting among younger audiences.
    • Innovations in gambling software, including VR, AR, and blockchain for secure online gambling.

    Challenges:

    • Gambling regulations creating hurdles for online casinos and virtual betting.
    • Concerns over responsible gambling, with addiction risks affecting perceptions.
    • Competition from illegal operators undermining legitimate gambling platforms.

    Opportunities:

    • Expansion into markets like South America with untapped mobile gambling potential.
    • Partnerships enhancing casino bonuses and live casino experiences.
    • AI integration for personalized online gambling and operational efficiency.

    Balancing innovation with responsible gambling remains critical for sustained growth.

    Curious about gambling trends shaping the market? Want data on gambling revenue and market segmentation? Download sample of the Technavio report today

    Top Companies Leading the Charge

    The report profiles 15 major players in the gambling market:

    • Betsson AB: Expanding online casinos and sports betting globally.
    • Bet365 Group Ltd.: A titan in betting apps, offering real-time betting odds.
    • Crown Resorts Limited
    • Entain Plc
    • Camelot UK Lotteries Ltd.: Innovating in lottery with digital gambling platforms.
    • Galaxy Entertainment Group Ltd.: A key player in APAC slot machines and casinos.
    • Gateway Casinos and Entertainment Ltd.
    • International Game Technology plc
    • INTRALOT SA
    • Kindred Group Plc
    • Las Vegas Sands Corp
    • MGM Resorts International
    • New York State Gaming Commission
    • SkyCity Entertainment Group
    • The Betway Group

    These firms are investing in gambling software and partnerships to lead the iGaming industry.

    The Digital Shift in Gambling

    The rise of online gambling is a cornerstone of the report. Mobile gambling has turned smartphones into hubs for slot machines, live casino games, and virtual betting. Operators like Betway and 888 Casino are enhancing betting apps with VR and AR, creating online casinos. Strategic moves, such as Betsson AB’s tie-up with Groupe Partouche in Belgium, are diversifying casino bonuses and tailoring offerings to local markets.

    “The iGaming industry is at a turning point,” said a Technavio analyst. “Mobile gambling, regulatory shifts, and demand for live casino experiences are driving unprecedented growth. Companies embracing these gambling trends will thrive.”

    Future Outlook

    The gambling market is set for innovation, with AI enhancing online gambling engagement and streamlining gambling platforms. Esports betting and virtual betting are poised to grow, fueled by digital accessibility. However, challenges like strict gambling regulations and responsible gambling concerns could slow progress if unaddressed.

    For stakeholders, the iGaming industry offers vast potential whether through emerging markets, advanced gambling software, or refined strategies. The Technavio report provides actionable insights into this USD 339.9 billion opportunity.

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