PUBLISHER: The Business Research Company | PRODUCT CODE: 1559097
PUBLISHER: The Business Research Company | PRODUCT CODE: 1559097
Casino gambling involves participating in various games of chance at a casino, where individuals wager money or valuables on different outcomes. This can include playing slot machines, card games, dice games, and other entertainment options. The main objective is to win money while enjoying the experience offered by the casino.
The primary forms of casino gambling include live casinos, baccarat, blackjack, poker, slots, and others. A live casino is an online platform where players can engage in real-time casino games with live dealers through streaming video. These games are accessible on both offline and online platforms and cater to a range of users, such as casual players, gambling enthusiasts, lottery fans, social gamblers, and those who are less engaged.
The casino gambling market research report is one of a series of new reports from The Business Research Company that provides casino gambling market statistics, including the casino gambling industry's global market size, regional shares, competitors with a casino gambling market share, detailed casino gambling market segments, market trends and opportunities, and any further data you may need to thrive in the casino gambling industry. This casino gambling market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The casino gambling market size has grown strongly in recent years. It will grow from $149.51 billion in 2023 to $160.58 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth observed during the historic period can be linked to the easing of gambling regulations, the rise of online gambling platforms and mobile gaming apps, robust economic development, greater global travel and tourism, and proactive marketing strategies.
The casino gambling market size is expected to see strong growth in the next few years. It will grow to $214.64 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth during the forecast period can be attributed to ongoing advancements in VR, AR, and blockchain technologies, economic recovery following the pandemic, greater smartphone adoption, and improved internet connectivity. Additionally, the expansion of major casino operators into emerging markets and the strengthening of connections between the casino gambling sector and the broader tourism and leisure industries will contribute to this growth. Major trends expected during this period include VR and AR gaming, integration of blockchain and cryptocurrency, the use of AI and machine learning, incorporation of esports betting into casinos, and the development of hybrid models.
The expansion of online gambling is anticipated to significantly drive the growth of the casino gambling market. Online gambling encompasses the act of wagering or participating in chance-based games over the internet for financial gain or other stakes. This surge is primarily attributed to increased internet accessibility, enhanced convenience, and the widespread adoption of mobile devices. Online gambling contributes to the growth of casino gambling by enhancing brand visibility and attracting new players via accessible and engaging digital platforms. For instance, in February 2022, a consumer survey conducted by the Australian Communications and Media Authority, a government agency based in Australia, revealed a notable increase in online gambling prevalence. The data showed that over one in ten Australian adults (11%) engaged in online gambling, excluding lotteries, in the six months leading up to June 2021, compared to 8% in 2020. This trend underscores the growing impact of online gambling on the casino gambling sector.
Major players in the casino gambling market are increasingly concentrating on the development of cutting-edge technologies, including next-generation gaming platforms, to enhance user experience and improve operational efficiency. Next-generation gaming platforms are sophisticated systems that offer advanced features, refined user interfaces, and superior scalability. These platforms are designed to provide an exceptional gaming experience while optimizing operational processes. For instance, in January 2024, Gaming Innovation Group (GiG), a Malta-based iGaming technology firm, introduced two online casino brands, PlayR and Palasino. PlayR is aimed at the burgeoning Brazilian market, which has recently granted regulatory approval for online casinos. The brand will leverage GiG's next-generation platform technology to boost user experience and operational efficiency within this emerging market. Palasino, on the other hand, will incorporate GiG's award-winning player account management system along with advanced AI solutions. This integration is intended to enhance player acquisition and retention, thereby improving operational effectiveness in complex regulatory settings.
In April 2024, Gambling.com Group, a US-based performance marketing and sports betting media company, completed the acquisition of Freebets.com. The terms of the acquisition were not disclosed. This strategic move is expected to notably impact the European online gambling affiliate market, positioning Gambling.com Group to drive accelerated growth in both established European markets and emerging regions. Freebets.com is a UK-based sports betting service provider.
Major companies operating in the casino gambling market are MGM Resorts International Inc., Flutter Entertainment plc, Caesars Entertainment Inc., Wynn Resorts Limited, International Game Technology PLC , Boyd Gaming Corporation, Hard Rock International Inc., SJM Holdings Limited, Genting Berhad, Galaxy Entertainment Group Limited, Evoke plc, Kindred Group Plc, Melco Resorts & Entertainment Limited, Konami Gaming Inc., Penn National Gaming Inc., Cher-Ae Heights Casino, Galaxy Gaming Inc., Table Trac Inc., Tangam Systems Inc., Novomatic AG, Las Vegas Sands Corp.
North America was the largest region in the casino gambling market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the casino gambling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the casino gambling market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The casino gambling market consists of sales of gaming tables, card shufflers, electronic roulette wheels, and video poker machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Casino Gambling Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on casino gambling market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for casino gambling ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The casino 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 historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.