Report Overview
Online gambling and betting refer to the process of placing bets or playing games of chance or skill for money, through internet-enabled platforms. This includes a wide range of digital gambling formats such as online casinos, virtual poker rooms, sports betting portals, lotteries, bingo, and other games. These platforms replicate the traditional gambling experience in a digital format, often enhanced by technology such as live dealers, augmented reality (AR), and blockchain integration.
The evolution of online gambling began in 1994 with the launch of the Liechtenstein International Lottery. Since then, the industry has undergone substantial growth, primarily fueled by increasing internet penetration, advancements in technology, and the relaxation of gambling laws in various regions. Online gambling offers unmatched convenience, a wide range of gaming options, secure transactions, and attractive bonuses, making it a popular alternative to physical gambling venues.
Market Analysis
As of 2023, the global Online Gambling and Betting Market was valued at approximately USD 31,010 million. Projections indicate robust growth, with the market expected to reach USD 84,620.97 million by 2032, representing a CAGR of 11.80% during the forecast period.
This surge is driven by rising smartphone penetration, increasing consumer disposable income, and the broader legalization of online gambling across numerous jurisdictions.
In North America, one of the most mature and lucrative markets, the industry stood at USD 9,797.51 million in 2023, and is projected to grow at a CAGR of 10.11% through 2032.
The U.S., in particular, is seeing rapid expansion following state-level legalizations of sports betting and online casinos.
