Online Gambling Market Analysis

Online Gambling Market Analysis

Based on device type, the industry is divided into desktop and mobile. The desktop segment held a market share of over 45% in 2022 and is expected to grow at a lucrative pace by 2032. Desktop gambling allows users to access gambling sites and play on desktop devices such as computers and laptops. Screen size is one of the most obvious advantages of desktop gambling, especially now that 4K monitors in 30+ inch sizes are available. Playing on large screens allows for a completely immersive experience in online gambling as well as for catching details that players might otherwise miss on a small mobile screen. This allows people with two or more screens to play different games at the same time, even on different websites.  

Based on game, the online gambling market is segmented into betting, casino, poker, lottery, bingo, and other games. The betting segment held a market share of over 40% in 2022. Due to the growing popularity of sports tournaments worldwide, betting represented the largest segment. The increasing awareness of e-sports and the rise of live-streaming platforms have had a significant impact on the demand for betting. The growing popularity of sporting events, such as football and cricket, and the high stakes of monetary involvement are major factors attracting many gamblers to this segment. The increasing penetration of the internet and the population's growing understanding of online gaming sites and applications are driving segment revenue. The segment could expand even further with the growing collaborations among market participants.

Europe dominated the global online gambling market with over 45% share in 2022. The increasing number of online gambling websites in the region, as well as the launch of mobile applications for online gambling activities in the industry, augment market growth. Online gambling is gaining popularity in many European countries, with the UK, Italy, and the Nordic countries leading the region's industry growth. The rising penetration of online gambling in Europe will increase the year-on-year value of the market. The growing per capita disposable incomes due to the improving economy in many European countries are leading to increased spending on gambling activities among European households.