Global Gambling Market 2018-2022
To calculate the market size, the report considers the revenue generated from type of gambling such as lottery, betting, and casino. In addition, we have segmented the market based on the sale of gambling types using offline and online platforms, wherein devices such as mobile and desktop are considered under the online platform.
Technavio’s analysts forecast the global gambling market to grow at a CAGR of 8.45% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global gambling market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Gambling Market 2018-2022
Technavio recognizes the following companies as the key players in the global gambling market: 888 Holdings, Camelot Group, Galaxy Entertainment Group, INTRALOT, MGM Resorts, New York State Lottery, and Paddy Power Betfair.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is introduction of Bitcoin gambling. Bitcoin is a type of cryptocurrency that allows peer-to-peer payments to take place on the Internet. With the growing popularity of bitcoins, many gambling vendors are providing gambling using bitcoins. This is due to the advantages which the cryptocurrency has over regular currency. One of the key benefits is that of cross-border transactions.”
According to the report, one driver in the market is contribution towards economy. Gambling industry plays a prominent part towards the economy. For instance, the US alone accounted for 0.91% of the US GDP in 2017. The lottery market alone has a considerable potential to create job opportunities. Also, legalizing more number of the online and offline gambling will further fetch higher jobs to the seekers. Further, the industry is amongst the most diverse sector and attracts high foreign investments.
Further, the report states that one challenge in the market is high risk factors. One of the major factors hindering the growth and expansion of the gambling market is the huge risk involved in running the business, though profit margins are high. As the profit margins are high, gambling market attracts the entry of both; legal and illegal gambling business. However, high-risk factor limits the legalization and expansion of the market in different countries and sometimes in different states of the countries.
888 Holdings, Camelot Group, Galaxy Entertainment Group, INTRALOT, MGM Resorts, New York State Lottery, and Paddy Power Betfair.