Online gambling is any kind of gambling activity conducted on the Internet. Compared with traditional gambling methods, online gambling operations are more convenient, with a large number of gambling personnel and strong dispersion. The hidden, fast, and wide coverage of the Internet provides a new world for the gambling industry, especially in areas where gambling is strongly prohibited, such as mainland China. This is an emerging way of gambling, and it is also the most popular way of gambling today.
Several common forms of online gambling are poker, casino and sports betting. Online poker is a poker game played on the Internet. Online casinos are the online version of traditional physical casinos. Gamblers can play casino games and place bets via the Internet. Sports betting is the activity of predicting sports results and placing bets on the results. There are many different ways for the public to place bets on sports events, such as betting shops or phone calls, but the most common way for people to bet on sports today is through the Internet. Sports betting accounted for 41.91% of the market in 2019, while poker only accounted for 5.36%.
The online gambling industry can be divided into desktops and mobiles by application. A desktop computer is an independent and separated computer, which generally needs to be placed on a computer desk or a special workbench. It occupies a larger share due to its ease of use and wide range of applications, with a market share of 63.26% in 2019. Mobiles are light and convenient, which also accounted for 36.74% of the market share in 2019.
With the increasing popularity of the Internet and the vigorous development of the online gambling industry, many online gambling companies are also actively exploring emerging markets.
Prospect Analysis of the Online Gambling Industry in Various Regions Under the Influence of COVID-19
Europe, Asia Pacific and North America are the three main markets for this industry. Generally speaking, those who participate in online gambling are high-income groups. Europe has many developed countries with a high degree of economic development. The region has become the largest revenue market for online gambling, with a market share of 53.39% in 2015 and 52.61% in 2020, a decrease of 0.78%. With a large population, Asia-Pacific is a huge consumer market. The region ranked second with a market share of 31.92% in 2019. In addition, the demand for online gambling in North America is likely to grow with the deregulation of U.S. laws, becoming the fastest growing market during the forecast period.
European gambling industry is also relatively developed, laying a certain foundation for online gambling. Government supervision in this region is relatively loose. Companies in the industry are mainly from Europe with low market concentration rate. The top three companies are Bet365, GVC Holdings and Flutter Entertainment, with revenue market shares of 7.00%, 4.78% and 2.22% in 2019, respectively.
During the epidemic, commuting in various places was severely blocked and economic activities were suspended, which had a serious impact on the global economy. Although the negative impact of the epidemic on most industries is greater than the positive impact, the online gambling industry has already benefited from it. On the one hand, the online gambling industry mainly relies on online methods and is less affected by the epidemic. On the other hand, the spread of COVID19 has accelerated the demand for online gambling. In order to stay away from the virus and reduce going out, online gambling has become a form of entertainment for most people. The market has expanded and its market value will increase from US$58946 million in 2019 to US$64214 million in 2020. Although with the gradual disappearance of the epidemic and the return of offline gambling, interest of consumers in online gambling may be weakened, but similarly, the epidemic has also had a profound impact on existing online gambling methods. After the epidemic is over, the development prospects of the online gambling industry are still very attractive.
The Online Gambling Market is Closely Related to Local Policies and Internet Development
In recent years, the Internet has become popular and the rapid development mode has been opened. The convenience and interactivity brought by it have made the online gambling market gradually expand. Digital development and secure digital payment methods are important factors driving the growth of the online gambling market. The design of gambling websites is getting richer and richer, which is expected to provide impetus to the industry during the forecast period. More and more companies and investors are rushing to enter the popular online gambling field, so the market scale is rising rapidly.
According to our research, the global Online Gambling market has a total sales value of 36834 M USD back in 2015, and increased to 64214 M USD in 2020. We made the prediction that the value of Online Gambling markets can be 106048 M USD by 2025. The CAGR of Online Gambling is 10.28% from 2019 to 2025.
Internet gambling has a certain impact on social security, which is also not conducive to the healthy development of the Internet. At present, the online gambling industry is illegal in many countries and regions in the world. In some areas, advertising and marketing in the gaming industry are also restricted. Even in the United States, where cultural exchanges are relatively open, online gambling was still illegal until 2014. The online gambling market in emerging countries is mainly affected by local government policy factors. In the Internet era, some companies legalize online gambling websites through certain means in order to avoid regulatory restrictions, which is not conducive to the development of the industry. If companies want to open up new markets, they must pay attention to the local policy environment. In the future, there will be more and more professional online gambling companies and a more rigorous organizational structure.
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