The global online gambling industry has experienced significant growth over the past decade, driven by technological advancements, increased internet accessibility, and the rising popularity of online betting and gaming. The industry includes various forms of online gambling, such as online casinos, sports betting, poker rooms, and virtual gaming.
Before the COVID-19 pandemic, the online gambling industry was already on an upward trajectory, with a steady increase in revenue and user engagement. However, the pandemic had a profound impact on the industry. As land-based casinos and betting shops were forced to close due to lockdowns and social distancing measures, many gamblers turned to online platforms for their gambling needs. This led to a surge in online gambling activity, with more people trying online casinos and sports betting for the first time.
The global online gambling market was projected to grow at a compound annual growth rate (CAGR) of around 11% from 2020 to 2023, even amid the pandemic. This growth was driven by factors such as increased internet penetration, technological advancements, and shifting consumer preferences towards online platforms.
The impact of the pandemic on the online gambling market varied across different regions. For example, Europe, particularly countries like the United Kingdom and Germany, saw significant growth in online gambling during the pandemic. In the United States, the pandemic acted as a catalyst for the expansion of online sports betting as several states legalized and regulated the activity.
The increased demand for online gambling during the pandemic resulted in substantial revenue growth for many operators. With limited entertainment options available, people were more willing to spend money on online gambling activities, leading to increased profits for the industry.
Aruvian Research analyzes the Global Online Gambling Industry in its report Analyzing the Global Online Gambling Industry 2023.
The report begins with an industry definition and moves on to the complete industry analysis. An analysis of global casinos and online gambling industry is carried out in section one. In this section we look at industry statistics, industry revenue growth, industry segmentation and the major products & services of online gambling and other services. We also analyze the major regions, industry trends, market share, industry competition and a look at what the future holds for the global casinos and online gambling industry. We also analyze the Global Online Gambling Industry in a Porter’s Five Forces Framework Analysis.
Next we analyze the factors that impact the global online gambling industry, including the COVID-19 pandemic, mergers and acquisitions, the impact of regulations in various countries, factors driving demand in the industry, industry costs, industry globalization, and the high barriers to industry entry, amongst other factors.
Moving on, we analyze online and mobile gambling versus traditional gambling. We also analyze the industry statistics for the global online gambling industry along with value analysis and an industry segmentation.
A forecast for the global online gambling industry till 2026 is included in the report. This report from Aruvian Research also analyzes the major players in the global online gambling industry.
Analyzing the Global Online Gambling Industry 2023
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