Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Saturday, December 3, 2022 · 604,607,195 Articles · 3+ Million Readers

With 11.4% CAGR, Online Gambling Software Market Size worth USD 158.20 Billion in 2028

As per the report published by Fortune Business Insights, the global Online Gambling Software Market size is projected to reach USD 158.20 Billion in 2028, at CAGR of 11.4% during forecast period (2022-2028)

/EIN News/ -- Pune, India, Sept. 21, 2022 (GLOBE NEWSWIRE) -- The global online gambling software market size is expected to gain momentum by reaching USD 158.20 billion by 2028 while exhibiting a stellar CAGR of 11.4% between 2021 to 2028. In its report titled “Online Gambling Software Market,” Fortune Business Insights mentions that the market size stood at USD 66.72 billion in 2020.

The increasing demand for smartphones, advancements in internet technology, and rising spending power of users are a few of the factors that contribute towards the market growth of digital gambling. The online gambling software providers are heavily investing and partnering in advanced technologies to enhance the customer experience, which will boost the interest of players. For instance, In September 2020, William Hill Plc. made a partnership with CBS Sports. After their collaboration, the company announced the launch of a wide range of digital content. Few of their offerings for sports bettors and fans are free-to-play games, video programming, and editorial content of William Hill across the CBS Sports Digital landscape.


Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/online-gambling-software-market-106151


Industry Developments:

December 2020 – GVC Holdings Plc. partnered with MGM Resorts International to launch an online BetMGM Casino in Pennsylvania. The company offers 140 types of online gambling games for android and iOS users.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2028
Forecast Period 2022 to 2028 CAGR 11.4%
2028 Value Projection USD 158.20 Billion
Base Year 2020
Online Gambling Software Market Size in 2020 USD 66.72 Million
Historical Data for 2017 to 2019
No. of Pages 130
Segments covered Type ; Devices;
Online Gambling Software Market Growth Drivers Ease of Online Payment to Drive Online Gambling Software Market Growth
Rising Adverse Impacts on Mental Health and Bans on Online Gambling May Impede Market Growth


COVID-19 Impact

The outbreak of the coronavirus has affected the global economy adversely. Due to lockdown, land-based gambling arenas were affected severely. The restrictions on public transportation, tourism, and public gatherings, impacted the off-line gambling industry. However, it helped in the dramatic rise in the demand for internet-based gambling. The temporary closure of colleges and the increasing adoption of work from home policies are expected to drive the market. For instance, according to a report published by AlphaBeta Australia, Australia experienced a 67% increase in online betting in April 2020.


Click here to get the short-term and long-term impact of COVID-19 on this Market: https://www.fortunebusinessinsights.com/online-gambling-software-market-106151


Driving Factor

Ease of Online Payment to Drive Online gambling software Market Growth

The increasing adoption of digital payments has made it easier for users and online gambling players. Moreover, using online methods of payment facilities offer a secure and safe mode of transaction, which is boosting this market; therefore, companies are trying to come up with efficient payment methods to attract more games.  For instance, in January 2021, William Hill Plc partnered with Chippewa Indians and Grand Traverse Band of Ottawa to develop its own online and mobile casino app and sportsbook. The app also promises to offer a secure and quick registration process and a wide selection of options to withdraw and deposit funds.

Regional Insights

Greater Head Safety Awareness in North America to Fuel the Regional Market

In 2019, the market size of North America stood at USD 140.6 million owing to more widespread awareness in the region about the importance of wearing helmets while riding two-wheeled vehicles. The region is expected to continue its dominance of the smart helmet market share during the forecast period as manufacturers in the region are constantly developing and launching advanced head safety devices, which are being eagerly adopted by outdoor enthusiasts and motorcyclists.

The market in Asia Pacific is set to experience prolific growth as exponential growth in urban areas and rising affordability of two-wheelers, especially in India and China, is surging the sales of these helmets in the region. In Europe, the regional smart helmet market growth is anticipated to surge in the coming years as the demand for smart wearable devices steadily climbs.


Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/online-gambling-software-market-106151


Market Segmentation:

By type, the market is divided into sports betting, casinos, poker, lottery, bingo, and others. By devices, it is fragmented into desktop, mobile, and others.

Based on type, the lottery segment held a market share of 15.1% in 2020. This is attributable to increasing interest in draw-based games among players.

Lastly, in terms of geography, the market is divided into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers and restraints that are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborations to contribute to the market growth.

Competitive Landscape

Key Players to Focus on New Application Launches to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development

List of Key Players Mentioned in the Report:

  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
  • Kindred Group Plc. (Valletta, Malta)
  • William Hill Plc. (London, U.K.)
  • StarsGroup.com (Ontario, Canada)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • Betsson AB (Stockholm, Sweden)
  • Bet365 Group (Stoke-on-Trent, U.K.)
  • LeoVegas AB (Stockholm, Sweden)
  • 888 Holdings PLC (Gibraltar)
  • BetAmerica (California,U.S.)


Access Full Report: https://www.fortunebusinessinsights.com/checkout-page/106151


Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
  • Global Online Gambling Software Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled 
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details 
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
  • Recent Developments

TOC Continued…!

FAQ:

How big is the Online Gambling Software Market?

The market is projected to grow from USD 74.17 billion in 2021 to USD 158.20 billion in 2028 at a CAGR of 11.4% in the 2021-2028 period.

How big is Online Gambling Software Market in Europe?

The market in Europe stood at USD 30.92 billion in 2020 and is expected to gain a huge portion of the market share in the coming years.

About Us:

Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.

Contact Us:

Fortune Business Insights™ Pvt. Ltd.

US: +1 424 253 0390

UK: +44 2071 939123

APAC: +91 744 740 1245

Email: sales@fortunebusinessinsights.com


Primary Logo

Powered by EIN News


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release