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.
The global gambling market is expected to decline from $521.6 billion in 2019 to $495.6 billion in 2020 at a compound annual growth rate (CAGR) of -5%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 7% from 2021 and reach $592.5 billion in 2023. Asia Pacific was the largest region in the global gambling market, accounting for 38% of the market in 2019. North America was the second largest region accounting for 29% of the global gambling market. Middle East was the smallest region in the global 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.
The major players in the global gambling market are William Hill, MGM Resorts, Las Vegas Sands, Paddy Power, Betfair Entertainment
The countries covered in the global gambling market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam
The Global Gambling Market is segmented:
1) By Type: Casino, Lotteries, Sports Betting, Others - Gambling
2) By Channel Type: Offline, Online, Virtual Reality(VR)