Latest News- Gambling Market: Lottery is expected to lead the Type segment during 2025-2029

The Gambling Market is being driven by Increasing betting on e-sports

The Gambling Market is expected to grow at a CAGR of 8.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 339.9 billion. Bitcoin, a decentralized digital currency, offers significant advantages for the gambling market. Transactions using this currency provide anonymity and are not subject to central bank regulations. Bitcoin users do not need to disclose personal details during transactions, ensuring privacy. Bitcoin transactions offer benefits such as quick international transactions, easy deposits and withdrawals, lower fraud risks, and zero transaction fees. Notable gambling platform providers embracing bitcoin include Bitcasino.io, a subsidiary of mBet Solutions NV, which facilitates bitcoin gambling services like slots and table games. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Lottery
  • Betting
  • Casino
• Platform
  • Offline
  • Online
• Geography
  • North America
    • Canada
    • Mexico
    • US
  • APAC
    • China
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing betting on e-sports
• High penetration of smartphones
• Reduced stringency in government regulations

However, the market also witnesses some limitations, which are as follows:

• Security and credibility issues associated with online gambling
• Ban on gambling in many countries
• Ban on gambling advertisements

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Market Scope in Gambling Market Research Report

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Research Analysis Overview

The gambling market is experiencing significant growth, driven by key factors such as increased internet penetration and the widespread use of modern smartphones. Augmented reality, machine learning, and artificial intelligence are revolutionizing online gambling services, offering immersive experiences through virtual reality (VR) and sports betting on desktop and mobile devices. The penetration of smartphones has led to the rise of digital betting platforms, freemium models, virtual payment gateways, and even the use of digital currency for virtual wagering. Casinos are now offering a wide range of online games, from casino gambling to sports games, utilizing VR technology to create engaging tournaments for internet users.

Market Research Overview

In the gambling market, various regulatory components, such as Artificial Intelligence (AI), Augmented Reality (AR), Blockchain technology, and casino licenses, play a pivotal role in ensuring a fair and crime-free industry. On-location casinos must acquire essential licenses to legally operate gambling facilities. These licenses include an operating license, which permits casinos to manage specific gambling operations. A premises license or non-remote casino operating license is mandatory for casinos offering gambling services from fixed premises. Personal management licenses are required for individuals holding managerial positions, while functional licenses are necessary for those performing specific tasks. Compliance with these regulations is crucial for maintaining the legitimacy and integrity of the gambling sector.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/