The report titled "Online Gambling & Betting Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 - 2026" states that the rise in penetration of Internet-based devices, trust on wagering through online mode of payment, and relaxation of laws have boosted the online gambling & betting market across the globe.
Based on device type, the mobile segment is anticipated to expand at a significant CAGR of around 16 % during the forecast period.
Factors, such as, increase in prevalence gambling, disposable income of consumers, trust in a wagering through electronic payment mode of online gambling & betting, and growth in penetration of the Internet, along with adoption of Internet-based devices, are driving the growth of the online gambling & betting market.
However, stringent regulatory laws for online gambling, insufficient facility for internet operations, and threat of cyber-attack are the major challenges faced by the online gambling & betting market.
Based on gaming type, the sports betting segment is anticipated to expand at a significant CAGR of about 14 % during the forecast period. Casino was the second leading segment of the online gambling & betting market in terms of value in 2017.
Europe led the online betting market in 2017, with Asia Pacific anticipated to expand at a significant CAGR of around 14 % during the forecast period. Primary drivers of the Asia Pacific zone are relaxation of laws, growth in participation of wagers through Internet, and availability of foreign betting sites with attractive offers.
According to the report, the leading players operating in the international online market include 888 Holdings, The Stars Group, Paddy Power Betfair, Fortuna Entertainment Group, GVC Holdings, and Kindred Group.
Source: GMB
