Online Gambling Market Expected to Grow by the end of 2025 at a Compound Annual Growth Rate
The online gambling market is highly expected to face a massive growth from USD 53, 686.56 million in 2019 to USD 95,023.13 million by the end of 2025 at a Compound Annual Growth Rate 9.98%.
Even though the world is facing a major crisis in fighting the coronavirus pandemic that has affected many economies, online gambling continues to strive. And it is not a surprise that its annual growth is rising.
The coronavirus pandemic has led to many countries to go on lockdown and many businesses are on halt. But for online gambling, it seems like a blessing in disguise.
With most people now staying at home during lockdown surely, they will spend most of their time playing online casino games for real money. That alone is one of the reasons online gambling market growth rate is on the rise.
Gambling Market Segmentation & Coverage
This a report that categorizes the online gambling market to predict the revenues as well as analysing the trends in the available sub-market.
However, in most cases, sports betting is always expected to witness the highest growth during the prediction period. Adding to that, on the basis of the game the online gambling market is premeditated across games such as Bingo, Poker, Lottery, Social games and Sports Betting.
Moreover, Sports Betting has always been commanding the largest size in the online gambling market in 2019. And there are very high expectations that it will continue to grow at the fastest Compound Annual Growth (CAG) during the forecast period.
Mobile Gaming Projected to Witness Highest Growth
As much as we can play online casino games using our laptop and desktop devices. One platform that will project the highest growth in mobile gambling. Most online casino players in the USA are always playing online casino games on the go. Doing so with the use of mobile devices such as smartphones and tablets.
Even though the desktop commanded a large size in online gambling, mobile gaming is now on the verge of facing massive growth due to the availability of many casino games.
Moreover, looking on the basis of casino payment methods, the online gambling has also studied across Real Money as well as Virtual Money. Real Money online casinos commanded an extensive size in the online gambling industry, and there is a real possibility that it will grow with a wide range during the forecast period.
Above all, on the basis of geography, online gambling industry is being studied across many countries which include Asia-Pacific, and Europe, Middle East & Africa. And there is no doubt why they are growing in revenues and attracting more players year in year out.
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