PUBLISHER: The Business Research Company | PRODUCT CODE: 1582557
PUBLISHER: The Business Research Company | PRODUCT CODE: 1582557
Online social casinos are virtual platforms where users can play casino-style games through social networking sites or dedicated apps. They offer entertainment through virtual casino games, promote social interaction among players, provide a risk-free environment for skill development, and serve as a marketing tool for casino operators.
The primary products of online social casinos include social casino gaming apps, social casino websites, and virtual currency casinos. Social casino gaming apps are mobile applications that enable users to play casino-style games such as slots, poker, and roulette using virtual currency instead of real money. These apps are designed to create a social experience, allowing players to interact with friends, join clubs, and participate in competitions. The main types of games include slots, poker, table games, and bingo, and they are used in various applications such as casual gaming, social networking, and digital entertainment. The end users include both individuals and corporations.
The online social casino market research report is one of a series of new reports from The Business Research Company that provides online social casino market statistics, including online social casino industry global market size, regional shares, competitors with an online social casino market share, detailed online social casino market segments, market trends, and opportunities, and any further data you may need to thrive in the online social casino industry. This online social casino 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 online social casino market size has grown strongly in recent years. It will grow from $7.82 billion in 2023 to $8.51 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth during the historic period can be attributed to the merging of gaming entertainment with digital technology, increased smartphone penetration, greater acceptance of online gambling, expanding digitalization, and improved internet access.
The online social casino market size is expected to see strong growth in the next few years. It will grow to $12.11 billion in 2028 at a compound annual growth rate (CAGR) of 9.2%. The growth expected during the forecast period can be attributed to the rapid expansion of the gaming industry, a rise in the adoption of online and mobile gaming, a growing number of social media users, increased investment in mobile gaming advertising, and a reduction in regulatory restrictions. Key trends for this period include greater integration of AI and machine learning, technological advancements, the rise of social and community features, the introduction of hybrid monetization models, and the incorporation of gamified elements in non-gaming apps.
The rising adoption of online and mobile gaming is anticipated to drive the growth of the casino gaming market. Online and mobile gaming involves playing video games over the internet on mobile devices, which allows players to access, compete, and interact with others globally across a variety of genres and platforms, often featuring real-time capabilities and social connectivity. This surge in adoption is driven by widespread internet access, the proliferation of mobile devices, and the increasing demand for interactive and accessible entertainment experiences. Casino gaming is integrated into online and mobile gaming by offering virtual versions of traditional casino games such as slots, poker, and roulette, accessible through internet-connected devices, thus providing casino-style entertainment anytime and anywhere. For example, in May 2023, Uswitch Limited, a UK-based provider of online comparison and switching services, reported that the number of online gamers worldwide reached 3.2 billion in 2022 and is projected to grow to 5.7 billion by 2032. Consequently, the rise in online and mobile gaming is fueling the growth of the casino gaming market.
Leading companies in the online casino game sector are focusing on developing innovative products, such as online social casino platforms, to enhance user engagement, deliver immersive gaming experiences, and utilize social interaction features to boost player retention and market growth. Online social casino platforms are digital environments where users can play casino-style games, such as slots, poker, and roulette, through social networking sites or dedicated applications without real money betting. For instance, in June 2024, Bally's Corporation, a US-based gambling company, collaborated with Ruby Seven Studios Inc., an Indian software company, to launch Bally Play, a free-to-play online social casino game. This platform emphasizes social connectivity with features such as leaderboards, in-game chat, and friend challenges, creating an engaging gaming community. It also includes customizable avatars and virtual currency to enrich the player experience and integrates special events and tournaments for players to compete for rewards and access exclusive promotions.
In April 2024, Softswiss, a Poland-based gambling software development company, acquired Ously Games for an undisclosed sum. This acquisition aims to enhance the capabilities and offerings of both companies in the online social casino sector, leveraging their combined expertise to develop innovative and engaging gaming solutions. Ously Games, based in Germany, specializes in creating social casino games.
Major companies operating in the online social casino market are Tencent Holdings Ltd, Caesars Entertainment Corporation, Flutter Entertainment plc, International Game Technology, Aristocrat Leisure, Zynga Inc., Playtika Holdings Corp., Scientific Games Corporation, 888 Holdings PLC, Everi Holdings Inc., DoubleU Games Co. Ltd., PlayAGS Inc., Playstudios Inc., Big Fish Games Inc., TCS John Huxley Ltd., Ruby Seven Studios, KamaGames Ltd., Creatiosoft Solutions Pvt. Ltd., AMATIC Industries GmbH, Tap Slots
North America was the largest region in the online social casino market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the online social casino market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the online social casino market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The online social casino market includes revenues earned by entities by providing online gaming services, in-app purchases for virtual items, premium memberships with exclusive benefits, customer support, tournaments and competitions, related web platforms, customizable avatars and promotional bundles. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
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.
Online Social Casino 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 online social casino 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 online social casino ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The online social casino 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.