Online Gambling and Betting Market Forecasted for Accelerated Growth by 2024

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Global Online Gambling and Betting Market: Overview

The latest trend followed in the gaming world is gambling and betting on the games. This trend in itself has become the new Game in the online world, for which people have a craze and spend most of the time in it.

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Global Online Gambling and Betting Market: Growth Factors

Increasing demand for high-speed Internet services specifically in mobile devices is the major factor driving the global online gambling and betting market growth. Growing demand for live streaming of games videos and sports via mobile devices and online portals is rapidly growing. This, in turn, provides players all over the world opportunities to amalgamate their betting services directly into live streams, further propelling the global market growth. The presence of a huge number of leading players who provide online gaming solutions and gambling and betting platforms also impacts the global market growth in a positive way.

Global Online Gambling and Betting Market: Segmentation

The global online gambling and betting market is segmented on the basis of game type and regions. On the basis of game type, the global market is categorized as a casino, poker, lottery, social gaming, bingo, fantasy sports, and sports betting. Of which, the casino segment dominates the global market. On the other hand, the sports betting segment is also anticipated to boost in the near future owing to increasing adoption by multiple players of live sports betting. Online poker and lottery are further anticipated to witness growth in the coming years.

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Global Online Gambling and Betting Market: Regional Analysis

In terms of revenue, Europe is considered as the leading player in the global online gambling and betting market. The growth in this region is contributed by the presence of huge online operators providing gambling and betting. The U.K. has the largest contribution to the growth of the market in Europe market. Furthermore, Asia Pacific is anticipated to witness a steady growth owing to the increasing demand for online betting and gambling portals and presently less easing up regulatory standards for such online portals. On the contrary, strict constraints on online gambling and betting in this region have negatively impacted the market in North America. The reduction of strict regulations on online betting and gambling is anticipated to boost the growth of the global market in states including Delaware, Nevada, and New Jersey. South American countries and the Middle East & Africa are further anticipated to show sluggish but steady growth in the global market in future.

Global Online Gambling and Betting Market: Competitive Players

Some of the major players in the global online betting and gambling market are 888 Holdings PLC, NetEnt AB, GVC Holdings PLC, Ladbrokes Coral Group PLC, Fortuna Entertainment Group, William Hill PLC, Amaya Inc., Playtech PLC, Paddy Power Betfair PLC, and Kindred PLC. Leading gambling and betting operators are presently firming their market presence with the online platform’s adoption and by their preference over physical, traditional operations.

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