The recently published “Gambling Global Market Report 2023” provides crucial insights for strategists, marketers, and senior management, offering a comprehensive analysis of the gambling market. From $449.04 billion in 2022, the global gambling market has surged to $702.45 billion in 2023, growing at a compound annual growth rate (CAGR) of 56.4%. By 2027, the market is expected to reach $765.89 billion with a CAGR of 2.2%.
Major players in the gambling market include China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterias y Apuestas del Estado S.A., Flutter Entertainment plc, Maruhan, The Hong Kong Jockey Club, Tabcorp Holdings Ltd., Penn National Gaming, Inc., Caesars Entertainment Corporation, and LAS VEGAS SANDS CORP.
Market Insights and Impact Analysis
The report offers a global perspective on the market, covering more than 50 geographies, including the impact of COVID-19 and the market’s response as the virus’s influence diminishes. It assesses the impact of the Russia-Ukraine war on agriculture, energy, and mineral commodity supply and the direct and indirect effects on the market. Additionally, the report examines the impact of global inflation on market growth and aids in the development of regional and country strategies using local data and analysis.
Gambling Types and Channels
Gambling involves wagering money or something of value on events with uncertain outcomes outside the gambler’s control. The primary forms of gambling are casino lotteries, sports betting, and other gambling activities. Various channels, including offline, online, and virtual reality (VR), cater to different end users such as gambling enthusiasts and social exuberant individuals.
Popularity of Branded Slots
Branded slots, licensed online casino games centered around popular subjects like movies, TV shows, music, or books, are gaining traction in the gambling industry. Brand loyalty encourages customers to try slot games featuring their favorite characters, attracting casual bettors and increasing traffic on slot machines. Some popular branded slots include Game of Thrones, Westworld, Batman, and Jurassic Park.
Regional and Country Analysis
Asia-Pacific was the largest region in the gambling market in 2022, with Eastern Europe predicted to be the fastest-growing region during the forecast period. The report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa, as well as countries like 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, and Vietnam.
Evolving Consumer Gambling Habits
Changing consumer gambling habits are expected to drive demand for gambling. The growing popularity of gambling apps and social gambling will fuel market growth. In 2020, the global social casino market reached $4.64 billion, growing at a CAGR of 5%. The increasing adoption of mobile devices and internet penetration will drive demand for online gambling, propelling market growth.
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