Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under the gambler's control, with an intent of winning something else of value, often money. It typically involves three elements: consideration (an amount wagered), risk (chance), and a prize. Common forms of gambling include sports betting, casino games, poker, lotteries, and horse wagering.
The gambling market consists of sales of gambling services by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries and off-track sports betting. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents and card rooms are included in this market. The gambling market also includes sales of gambling services and related goods by entities that operate casino hotels.
The global gambling market was valued at $490.4 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 1.0%.
Rise In Disposable Income
A rise in disposable income drove the growth of the gambling market during the historic period. The rise in disposable income is local to specific geographies and it is often influenced by a variety of factors, such as economic conditions, cost of living, employment opportunities and others, that are unique to a particular region or area. Increased disposable income provides households with more money to spend (or save), which generally leads to a growth in consumption.
For instance, according to the Center for Monitoring Indian Economy Pvt. Ltd. (CMIE), Indian economic consultant and Press Information Bureau (PIB), an Indian agency of the Government of India under the Ministry of Information and Broadcasting, in financial year 2012-13 (FY13) India had a per capita income of INR 70,983 ($852.36), which has grown to INR 0.172 million ($2,065.96) in FY23, a 143% increase in 10 years. Therefore, a rise in disposable income contributed to the growth of the gambling market.
Adoption Of Augmented and Virtual Reality In Casinos
The adoption of augmented and virtual reality is a popular trend evident among gambling companies. Augmented and virtual reality helps in designing an entirely new environment and new reality for the players. Gambling is being modified using attractive AR and VR technology and several gaming companies have launched games based on augmented reality within a few years. For example, in July 2021, XR Casino, a US-based Metaverse-ready technology company, introduced its first ever cross technology multiplayer online gambling platform using extended reality (XR), including augmented reality and mixed reality. The new mixed reality platform aims to allow multiplayers to play XR casino games with each other using different devices.
The global gambling market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 10.7% of the total market in 2022.
Gambling Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global gambling market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for gambling? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The gambling market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider gambling market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics: Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by channel type and by end-user.
- Product Analysis: The product analysis section of the report describes the leading products in the gambling market, along with key features and differentiators for those products.
- Supply Chain: The supply chain section of the report defines and explains the key players in the gambling industry supply chain.
- Customer Information: The chapter covers recent customer trends/preferences in the global gambling market.
- Key Trends: Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario: The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the gambling market.
- Global Market Size and Growth: Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis: Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation: Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by channel type and by end-user in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size And Growth: Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape: Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Key Mergers And Acquisitions: Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies : Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations: This section includes recommendations for gambling providers in terms of product/service offerings geographic expansion, marketing strategies and target groups next five years.
- Appendix: This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Scope
Markets Covered:
- 1) By Type: Casino; Lotteries; Sports Betting; Other Types
- 2) By Channel Type: Offline; Online; Virtual Reality (VR)
- 3) By End-User: Gambling Enthusiasts; Social Exuberant; Other End-Users
- Companies Mentioned: Flutter Entertainment Plc; Caesars Entertainment Inc.; MGM Resorts International; The Hong Kong Jockey Club: Penn National Gaming, Inc
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Brazil; France; Germany; UK; Russia; Czech Republic; Poland; Romania; Ukraine; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Egypt; Nigeria; South Africa; Iran; Israel; Saudi Arabia; Turkey; UAE; Argentina; Chile; Colombia; Peru; Canada; Mexico; Vietnam; Thailand; Singapore; Philippines; New Zealand; Malaysia; Hong Kong
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; gambling indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.