Global $97.69 Billion Online Gambling Market to 2025: Increasing Investment in Software and Technology and the Use of Cryptocurrencies
April 19, 2021 08:13 ET| Source: Research and Markets
Dublin, April 19, 2021 (GLOBE NEWSWIRE) — The "Global Online Gambling Market (2020-2025) by Games, Device, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Online Gambling Market is estimated to be USD 57.11 Bn in 2020 and is expected to reach USD 97.69 Bn by 2025, growing at a CAGR of 11.31%.
Key factors such as an increase in the number of internet users followed by increasing access to data and online gambling platforms are driving the online gambling market. Besides, the growth in the number of online casinos is further accelerating the demand for the online gambling market. Further, the Increasing investment in software and technology and the use of cryptocurrencies in online gambling as payment methods are providing growth opportunities to the market.
However, factors such as rising cybercrimes and transaction fees associated with these platforms are likely to restrain the market growth. Moreover, legal & regulatory issues and lack of personal interaction are some key challenges in the market.
LeoVegas is acquiring Expekt Nordics Ltd. from Betclic Group for around EUR 5Mn. The acquisition is aimed towards enhancing the company's brand portfolio in sports betting. – 15th March 2021 The Star Group has launched their BetStars online sports betting brand in the regulated New Jersey, in partnership with Resort Casino Hotel. 13th September 2020
Some of the companies covered in this report are Bet365 Group Ltd., Betfred Ltd., 888 Holdings plc., Paddy Power Betfair plc, GVC Holdings plc, Fortuna Entertainment Group, The Stars Group, The Betway Group, William Hill plc, Kindred Group, Rank Group, Hong Kong Jockey Club, and Betsson AB, etc.
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
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