Global Gambling Markets Report 2022

The global gambling market grew at a compound annual growth rate (CAGR) of 2.1 percent between 2015 and 2020, hitting a value of about $465,763.9 million.

At a CAGR of 7.7%, the market is projected to increase from $465,763.9 million (2020) to $674,703.9 million in 2025. At a CAGR of 5.8%, the market is projected to increase from $674,703.9 million in 2025 to a whopping $895,720.3 million in 2030.

The gambling market comprises firms (organizations, sole proprietors, and partnerships) that run gambling establishments such as video gaming terminals, casinos, bingo halls, lotteries, and off-track sports betting, providing gambling services and associated items. 

Expanding economies, attractive visa policies, new initiatives, developing markets, increased female gamblers, fast urbanization, legalized gambling, and a surge in mobile gaming all contributed to growth over the historical era.

Future market growth is anticipated to be fueled by the legalization of gambling, with more states now legalizing gambling. States previously considered rigid have opened doors for users in the United States, like now it is possible to gamble online in Texas under certain conditions, a prospect that is shifting consumer gambling preferences, and social media use. Future expansion of the gaming sector may be hampered by strict government gambling rules, demographic shifts, and problem gambling.

Casinos, lotteries, sports betting, and other types of gambling make up the different gambling market segments. In 2020, the lottery market accounted for 52.5% of the overall gambling market, making it the largest gambling market category by type. Future predictions indicate that the sports betting market will grow fastest, with a CAGR of 8.4%.

The gaming market is divided into three categories according to channel type: offline, online, and virtual reality (VR). By channel type, the offline market accounted for the most significant portion of the overall gambling industry (88.0%) in 2020. With a CAGR of 17.7%, the virtual reality (VR) segment is expected to have the gambling market's fastest future growth.

With 38.2% of the overall global gaming market in 2020, Asia Pacific was the largest region by far. Western Europe, and North America, and other regions coming after. The Middle East and Eastern Europe will have the fastest growth in the gaming market going forward, with CAGRs of 12.0 percent and 10.8 percent, respectively. Markets will follow these in Africa and South America, with expected CAGRs of 10.1% and 9.9%, respectively.

There are several participants in the gambling market, which is quite fragmented. In 2020, the top ten market rivals accounted for 20.10 percent of the whole market. This may be because several regional competitors cater to specific geographic markets.

China Welfare Lottery was the chief competitor with 10.85 percent of the market. The Hong Kong Jockey Club came in second with 6.01 percent, followed by MGM Resorts International with 0.62 percent, Crown Resorts with 0.51 percent, Caesars Entertainment Corporation with 0.50 percent, Las Vegas Sands Corporation with 0.49 percent, Melco International Development Ltd. with 0.31 percent, Genting Group with 0.30 percent, Wynn Resorts Ltd. with 0.27 percent, and Galaxy Entertainment with 0.27 percent. 

The lotteries category, which will increase worldwide annual sales to $113,324.9 million by 2025, will offer the best prospects in the gaming market when it comes to opportunities by kind. The offline gaming business sector, which will see worldwide annual sales increase to $155,521.3 million by 2025, will present the most lucrative prospects by channel type. In China, the gaming market will grow by the greatest, to $29,826.3 million.

Investing in gambling games that use AR and VR technology, adopting cutting-edge technologies to introduce live casinos, introducing hybrid games to drive engagement, adopting cryptocurrencies to improve transaction transparency, providing large-format slot machines, integrating robots with artificial intelligence, offering mobile gambling services, and more are market-trend-based strategies for the gambling market.