PUBLISHER: Grand View Research | PRODUCT CODE: 1588416
PUBLISHER: Grand View Research | PRODUCT CODE: 1588416
The global online casino market size was valued at USD 17.13 billion in 2023 and is expected to grow at a CAGR of 12.4% from 2024 to 2030. The market growth is driven by technological advancements, regulatory changes, and evolving consumer preferences. The widespread adoption of mobile technology has made it easier for players to access online casinos from anywhere, increasing the convenience and appeal of online gambling. Moreover, the legalization and regulation of online gambling in various regions have created new opportunities for market expansion.
The market growth is being further propelled by the development of advanced gaming platforms and software that have enhanced the user experience, making online casinos more engaging and enjoyable. These technological advancements offer players a more immersive experience with high-quality graphics, realistic animations, and innovative gameplay features. Additionally, the integration of social features and multiplayer options has created a sense of community and interaction among players. Furthermore, the continuous development of new games and the ability to access a wide variety of casino games from a single platform have further fueled the growth of the online casino market.
The growing popularity of mobile devices and the availability of mobile casino games have further fueled market growth. The widespread adoption of smartphones and tablets, coupled with the development of advanced mobile technology, has made it convenient for players to access and enjoy online casino games. The availability of a wide range of mobile casino games, including slots, table games, and live dealer games, has further contributed to the market expansion.
The market is poised for growth in the coming years with the introduction of innovative features such as live dealer games and virtual reality casinos that have created new opportunities to attract and retain customers. Virtual reality casinos, on the other hand, provide a fully immersive experience, transporting players to a virtual casino environment. For instance, in March 2024, Bally's Corporation launched virtual casino games in Rhode Island. The iGaming app allows players to communicate with dealers through a chat function. These developments are attracting a wider range of players, contributing to the overall expansion of the market.
Global Online Casino Market Report Segmentation
This report forecasts and estimates revenue growth at the global, regional, and country levels and analyzes the latest market trends and opportunities in each one of the sub-segments from 2018 to 2030. For this study, Grand View Research has further segmented the global online casino market report based on type, device, and region.