Gambling Market Characteristics
The gambling services market consists of sales of gambling services and related goods by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track betting. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market. Revenues in this market include the margins made on the amounts gambled but not those amounts themselves.
Competitive Landscape of the Gambling Companies Market
Major players in the global gambling market include William Hill, MGM Resorts, Las Vegas Sands, Paddy Power, Betfair Entertainment
Gambling Market Size
The gambling market size is expected to increase by 2021, significantly growing at a CAGR of around 7% during the forecast period. The growth in the gambling market is due to factors such as rise in disposable income growing tourism .
However, the market for gambling is expected to face certain restraints from several factors such as growing awareness for gambling and increasing government taxes and interventions
Gambling Market Segmentation
The global gambling market is further segmented based on type and geography.
By Type - The gambling market is segmented into casino, lotteries, sports betting, others - gambling among these segments, the casino accounts for the largest share in the globalgambling market.
By Geography - The global Gambling Market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global gambling market.
Trends in the Gambling Market
Gambling market has set a new trend of game content through socialization and mobilization. Players use social networks and mobile gadgets to play which helps in cash-less transactions. This has boosted the interaction and communication among people through social games. Also new regulatory acts adopted by many countries paved favorable conditions for the growth of gambling market. For instance, Free To Play format games are a big hit, which draws more people to join online gambling industry.
Potential Opportunities in the Gambling Market
With the increase in tourism and decreased government interventions in recent years, the scope and potential for the global gambling market is expected to significantly rise in the forecast period.