Thriving Trends in the Global Gambling Market

December 04, 2023 04:45 PM GMT | By EIN Presswire
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LONDON, GREATER LONDON, UK, December 4, 2023 / -- The global gambling market has witnessed remarkable growth, escalating from $449.04 billion in 2022 to $702.45 billion in 2023, registering an impressive compound annual growth rate (CAGR) of 56.4%. The gambling market is poised to continue its upward trajectory, reaching $765.89 billion by 2027 at a steady CAGR of 2.2%.

Dynamic Shifts in Consumer Gambling Habits
The evolution of consumer gambling habits is anticipated to play a pivotal role in propelling market growth. The surge in popularity of gambling apps and social gambling platforms is expected to be a significant driver. The global social casino market, which achieved a valuation of $4.64 billion in 2020, growing at a CAGR of 5%, signifies the growing influence of social and mobile platforms on the gambling landscape. The increasing adoption of mobile devices, coupled with expanding internet penetration, is expected to fuel the demand for online gambling, becoming a key growth factor for the gambling market.

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Key Players Shaping the Industry Landscape
Major companies contributing to the dynamics of the gambling market include China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías 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.

Rise of Branded Slots: A Game-Changing Trend
Branded slots are gaining prominence in the gambling industry, offering a unique and engaging experience to players. These slots are licensed online casino games centered around universally popular subjects such as movies, TV shows, music, or books. The appeal of branded slots lies in the familiarity of characters and themes, attracting both experienced and novice players. Games inspired by franchises like Game of Thrones, Westworld, Batman, and Jurassic Park have emerged as popular choices, creating a strong connection with players and driving increased traffic to slot machines.

Regional Dynamics and Market Segmentation
In 2022, Asia-Pacific emerged as the leading region in the gambling market, with Eastern Europe anticipated to exhibit the fastest growth in the forecast period. The comprehensive market segmentation encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Insights into Market Segmentation
The global gambling market is segmented -

1) By Type: Casino, Lotteries, Sports Betting, Other Gambling

2) By Channel Type: Offline, Online, Virtual Reality(VR)

3) By End-User: Gambling Enthusiasts, Social Exuberant, Other End-Users

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Gambling Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Gambling Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on gambling market size, gambling market drivers and trends, gambling market major players, gambling market competitors' revenues, gambling market positioning, and gambling market growth across geographies. The gambling market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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