LONDON--(BUSINESS WIRE)--Technavio analysts forecast the online gambling market in the US to grow at an impressive CAGR of more than 51% during the forecast period, according to their latest report.

1. Online Gambling Industry Revenue Companies
2. Online Gambling Industry Revenues
3. Online Gambling Industry Revenue Definition

5/27/2020 Industry GGY 1 1/ 1 Gambling Industr y Over view G ro s s g a m b l i n g y i e l d During the period October 2018 to September 2019, the r egulated gambling industr y in Great Britain generated a gross gambling yield (GGY) or equivalent. of £14.3bn, a 0.5% decrease compared with the previous repor ting period. Online Gaming Industry - Statistics & Facts Published by Christina Gough, Mar 7, 2019 The global media and entertainment market has consistently been on the rise. The entire worldwide market. In just a few short decades, the world of online gaming has exploded in popularity. Estimated to reach $196 billion in revenue by 2022, it is now considered to be one of the fastest growing industries on the planet.

The research study covers the present scenario and growth prospects of the online gamblingmarket in the US for 2016-2020. To calculate the market size, the report considers the revenue generated from legal online casino, betting, and lottery segments in the country. The report also discusses the primary market growth drivers, challenges faced by vendors and the market as a whole, and provides an overview of the key trends emerging in the market.

Though the US is portrayed to be the hub for gambling world because of the presence of popular gambling hotspots such as Las Vegasand Atlantic City, the country follows some of the most stringent federal laws in the world. In 2015, the US was ranked 8th in the global online gambling market, positioning itself after China, the UK, Australia, France, Italy, Germany, and Spain.

Request a sample report:http://www.technavio.com/request-a-sample?report=52368

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Technavio media and entertainment analysts highlight the following three factors that are contributing to the growth of the online gambling market in the US:

• Easing of government regulations
• Scope for increased contribution to national economy
• Wider reach of online gambling

Online Gambling Industry Revenue Companies

Easing of government regulations

In 2006, the US Federal government passed the Unlawful Internet Gambling and Enforcement Act, which outlawed all forms of online gambling. However, in 2012, a new law was passed that allowed individual states to license online and mobile casinos and sportsbooks and poker sites within their borders. As of 2015, only three states in the country namely Delaware, Nevada, and New Jersey allow online gambling. However, with the Federal government easing laws, more than five states in the US are likely to legalize the online gambling by 2020.

Some of the benefits of legalizing online gambling are an increase in revenue in the form of tax. The government can impose a high tax on the online gambling vendors and use the revenue for the development of the country. The money can contribute towards societal welfare through NGOs, development of hospitals, and educational institutions. Moreover, legalizing of online gambling can create job opportunities for people. “Thus, the easing of regulations on gambling serves the wider interest of the government and may be an important trend followed by various other states therby driving the growth of the market during the forecast period,” says Ujjwal Doshi, a lead analyst at Technavio for media and entertainment services research.

Scope for increased contribution to national economy

In 2015, the casino segment in the US generated half a million jobs and over USD 13 billion as tax revenue. Casinos pay 25% of their earnings as tax, while the winner pays 10% of the prize money to the government, thus generating a huge income for the country. If online gambling is legalized, the contribution to the national revenue will grow significantly and it will also generate a lot more jobs.

Casinos are one of the glamourous tourist destinations in the US. Since the end of Great Recession in 2010, the tourism industry in the country has grown consistently at a CAGR of 7.7%. In addition, the US is one of the very few countries, where advertising of casinos is legal, this provides immense opportunity for online casino vendors to promote their business and attract tourists.

Wider reach of online gambling

Online gambling extends the reach of the gambling games because it is web-based and does not require the physical presence of the players at the venue. The popularity of computing and mobile devices, especially among the younger generation, is the main reason for the extended reach of online gambling market in the US. Mobile ads are one of the strongest mediums of advertising, which reaches the untapped group of the population that refrain from going to a casino or a bar where betting is allowed, and influences them to try online gambling.

“In the US, the average age of an individual visiting a casino is 45 years, whereas the average age of an online gambler is 34 years. The increasing presence of younger population on the online gambling platforms will be one of the significant factors driving the growth of the market during the forecast period,” says Ujjwal.

Browse Related Reports:

Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.

About Technavio

Online Gambling Industry Revenues

Technaviois a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

If you are interested in more information, please contact our media team at media@technavio.com.

by Tarlan Ismayilov

Posted on May 15th, 2019

Before we do an in depth analysis, let’s first take a look at the bigger picture here – the numbers. In this article, we are going to focus on statistics for the online gambling industry. As usual, numbers involve a point of view, so when you glance through the rundown of worldwide gambling misfortunes for players, you’re likewise taking a gander at the betting successes for administrators. In light of that, here’s a breakdown of the ten best places for betting income dependent on players.

Online Gambling Statistics

It’s intriguing that Macau bests the rundown of per-person income. Yet Chinese citizens don’t enlist on our top review of betting misfortunes. Macau’s vacationer business has taken a hit as of late. However, tourists still guarantee Macau’s place on top.

Australia appears to display exceptional numbers when it comes to losses and accumulated revenue. At the moment, Australia owns greater number of slot machines than rivaling countries and honestly, it is quite surprising as the country has a population of 22 million.

The top 3 countries with highest gambling income around the world

With regards to betting, we’re all equivalent. Regardless of the games or country that we play in, the online casino always have higher chances to win, and it also doesn’t matter if we play in classic land-based gambling clubs or on the web. Similar to a pile of gambling club chips, a few nations have ascended higher than others in the course of the most recent years.

Through a mix of the guideline, compelling advancement and innovation, the UK, Australia, and Canada have risen as betting masters since the beginning of the 2000s. Presently home to a number of big players in the business, for example, Microgaming and Playtech, the accompanying three nations are top ones regarding notoriety and, obviously, numerical data.

Since the subsidence of 2008-2009, numerous nations have gone to betting as a method for reinforcing weak economies. Some have presented new administrative bodies or opened up their gambling business. Others have continued onward with authorized on the web and mobile betting to enable players to play wager at home. Now let’s take a look at the strategies of players that top all the gambling related incomes list in 2019 and find out what is it exactly that they do which makes them stand out from the competitors.

Macau

Greatest diversions: Casino

China has an on-off attitude towards betting. The Chinese government holds regular lotteries that serve its 1 billion occupants, yet most on the web and live betting is prohibited. The huge issue China has, or possibly its administration, is how to manage Macau.

Previously a Portuguese colony, Macau is currently a home to the most significant online casino gambling businesses around the world. It goes about as a Special Administrative Region in China. And keeping in mind that it’s not administered from Beijing, it has needed to persevere some heavyweight pressure from the government to get rid of betting income.

There are 38 clubs in Macau, including real activities from worldwide players like Sands and Wynn, and Melco Crown. Generally, in Macau, net gaming income (GGR) has been on the decay for a couple of years. A clampdown on money spilling out of China to Macau has prompted numerous club battling. Another bearing for the club into ‘mass market’ diversion may see an adjustment in Macau’s fortunes. Or else, VIPs and hot shots will keep on discovering new places to bet like Australia, Singapore, and the Philippines.

USA

Recreations: Poker, gambling clubs, sports betting, horse racing, lottery, Daily Fantasy Sports (DFS), bingo

Together with Macau, the United States of America drives the list in worldwide betting revenues, with the state of Nevada assisting with its ever-growing gambling club market. Majority of states in the US have restricted web-based betting, but many have authorized gambling clubs. Additionally, many US states hold regular lotteries.

In 2013, Delaware, New Jersey, and Nevada turned into the initial states to direct web-based gaming out of the blue. Nevada presently allows the works of online poker locales, while Delaware and New Jersey have legitimated online club and poker websites. Online sports betting, however, is banned all over.

Justifiably, Nevada drives the route with $11,123,830 in 2015 with regards to US club betting, according to the latest statistics on online gambling. On the other hand, New Jersey has suffered some bad hits. Parts of New Jersey such as Atlantic City have seen gambling clubs go fully bankrupt as its club income has dropped from $5.2 million during 2006 to $2.5 million in 2015.

New Jersey legitimized web-based betting in 2013 after the unwinding of web betting laws. The Division of Gaming Enforcement (DGE) manages legitimate web gaming in the Garden State.

Incomes have been on decline since web betting was legitimized in New Jersey. Be that as it may, in July 2016 in general web-based betting incomes rose to $16 million says the online gambling statistics report.

How it’s administered: Lotteries, sportsbooks, and gambling club are represented on a state-by-state format. Online sports betting is still restricted all over the US. However, the law is on the table for discussion with an ascent in prominence of DFS (Daily Fantasy Sports). Nevada and New Jersey have sanctioned regular online casino games, with some legitimate web-based betting. California and Florida have flourishing legitimate online poker ventures. In any case, the two states have opposed calls to authorize online poker. Pennsylvania as of late changed the two its property based and web-based betting markets.

Great Britain

Recreations: Sports betting, poker, lottery, bingo, horse racing, club, portable gaming, social gaming

One of the first betting markets and a pioneer with regards to guideline cordiality of the UK Gambling Commission, the UK has scored some fantastic income as of late. From the quantity of wagering venues to the general volume of the industry, the United Kingdom is, without a doubt, an incredible betting country.

The United Kingdom has online casino and poker and bingo rooms and a state-regulated lottery. The UK citizens are additionally permitted to bet real cash on portable and web-based betting sites.

Famous Gambling Games

Casino Games and Slots

Gambling club wagering typically involves a general “wagering” bunch that incorporates lottery and bingo. In any case, club betting had ascended to 35.1% in 2013 from 32% in 2007, according to the statistics on online gambling clubs.

As indicated by the most recent statistics on online gambling amongst the USA gambling club guests, almost half (48%) played slot games, while 16% and 6% playing blackjack and poker, respectively. Roulette represented only 5% of the prevalent play.

The development in mobile gambling and online slots has prompted some gigantic victors. Dynamic big stakes have been in charge of some groundbreaking successes, with gamblers bringing down rewards of $5-7 million in the previous couple of years.

Sports Betting

Sports betting is a billion-dollar worldwide industry. Be that as it may, the unregulated sports wagering industry in Asia implies the business, all in all, might really be worth a lot more. Illicit wagering crime groups in China and in other places have been in charge of fortunes being won and lost on games.

Controlled sports betting represented $58 billion in the worldwide market. Those numbers are set to rise over $77 billion during 2016. (Source: European Gaming and Betting Association).

Poker

Online poker has climbed since its blast in the mid-2000s. The elimination of US-confronting destinations has prompted a decrease in web traffic. Furthermore, even in regulated industries, online poker statistics are battling. The highest rewards keep on increasing, with the World Series of Poker headliner winner getting around $7-10 million. The most top online competitions draw in enough players to grant million-dollar first prizes.

Lottery

Online Gambling Industry Revenue Definition

Lotteries are legitimate in numerous nations, even where customary wagering and club style betting is banned. The EGBA predicts an ascent in a lot of by and massive gaming on the web, from 2.4% in 2013 to 6% in 2018.

In the United Kingdom, the National Lottery fund-raises for charitable purposes just as allowing players to score huge rewards. Lottery prizes increased 22% somewhere in the range of 2012 and 2016, with £3.28 billion paid out in 2012 and £4.23 billion out of 2016.

Bingo

It’s assessed there are currently around 100 million online bingo players around the world, 70-80% of whom are ladies, generally matured somewhere in the range of 30 and 50. In 2015 yearly gross-gaming yield for the online bingo industry from UK clients along with £128.64 million, or 3% of the whole web-based betting piece of the pie.

In 2015, the yearly gross income for the online bingo market from United Kingdom clients was around £128.64 million or 3% of the whole web-based betting piece of the pie, says the annual statistics on online gambling.

Betting

As should be evident from the measurements, the betting business is presently flourishing. From live gambling clubs in Canada to the online economy in Spain, the quantity of players paying is unmistakably on the up.

Even though the worldwide retreat and administrative issues have made pieces of the betting business grow slower than anticipated in the course of the most recent decade, the global accounting report is still operating at a profit. Truth be told, as we head towards 2020, the approach of innovation, for example, portable gambling clubs, live seller diversions and, possibly, computer-generated reality, are taking yearly income to record levels.

Along these lines, regardless of whether you’re an administrator, a player or only somebody with a propensity for numbers, the betting business keeps on demonstrating that it’s a standout amongst the most energetic diversion economies on the planet.

The expected future trends in the worldwide gambling industry

There is no industry on the planet today that can coordinate the sheer development and drive of web-based betting. Over the globe, the event is grabbing hold, with more brands than any other time in recent memory viewing for player consideration and more individuals setting down bets accordingly.

Thinking about the present condition of world betting, everybody is currently looking to what’s to come. Be that as it may, – as most will as of now confirm – anticipating the eventual fate of the betting scene is no simple accomplishment. Making the circumstance a little brighter, we’ve separated the information to surrender you ahead on what’s to come.

Estimated value of the worldwide online casino market

What’s quickly evident is the surprising estimation of the gambling club market in 2017, with it’s anticipated esteem expected to be around $635 billion in the years to come. Drilling this detail further, it merits taking a gander at the 2 most important segments in club gaming’s development – those being the United States and the United Kingdom. In the US, experts anticipate money incomes to hit $21.14 billion, whereas in the UK betting income should hit $4 billion. These two statistics alone make up what ought to be a 5.7% development of the worldwide betting business sector before 2022

The development identified with online casino play, by and large, is gigantic, yet for all intents and purposes, the majority of this has happened in the online area. Land-based gambling club play is still concerning the downturn – separated from inside a couple of the specific regions – like it has been as of late. Considering that new online businesses continue to emerge, we can accept that online club industry will keep on predominating land-based activities.

Biggest gambling market

The biggest market for web-based betting is Europe, yet this most likely won’t seem like a shock to anybody. During 2015, the EU market was responsible for 47.6% of the €34.6 billion of worldwide internet gaming gross revenue (stakes small rewards) created. While the achievement of internet betting in Europe is entirely outstanding, what’s helping the mainland be viewed as a pioneer in betting is its dimension of advancement, mainly through the development of useful gambling club stages.

On the other hand, bearing in mind the fragile nature of EU legislative issues since Brexit, people started to ask questions about how new policies will affect betting in Europe in the upcoming years.

Highest increase rate in market share

Macau’s betting propensities have dependably been noticeable, with the measurements demonstrating that betting movement is just developing on Chinese shores. According to the newest statistics on online gambling, year-on-year month to month development in Macau gambling club income stays at an enduring 1.1%. This helps Macau to crush yearly focuses concerning gross gaming income.

As per current information dependent on the framework, appearance, and increasing spending, it could be around $53 billion by 2022. This information originates from a Morgan Stanley report titled “Macau 2022 – Power of Compounding”. In the story, the examiner states, “We figure the nature of development will be better, as more than 80 percent of the estimated benefit should originate from the mass market fragment. The 2018 opening of the Hong Kong-Zhuhai-Macau Bridge was an important foundation advancement, interfacing HK and Macau districts with the city of Zhuhai on territory China. The city’s Hengqin island likewise proceeded with its colossal advancement venture, with the point of making the whole associated district a world focus of relaxation, the travel industry, and gaming. We additionally believe that by 2022, there will be clarity around permit restoration, advancement, and framework incline.”

Fueled by stable and reliable development figures, Macau might be the central spot on the planet – barring Las Vegas – where land-based gambling club play is genuinely prospering, according to online gambling statistics.

Increasing market share of Australia

Taking a gander at the situation of worldwide betting nation by nation, the betting dimensions in the United States, United Kingdom, Japan, and China are as of now all around recorded. What won’t be so apparent is Australia’s come in the business’ development. Insights demonstrate that the ordinary misfortune per card games in Australia goes over the one in different countries, coming in at somewhat below $1,000. Singapore is second on that rundown, with the ordinary misfortune per grown-up approximately $640, says the newest online gambling statistics. With Australian citizens desiring to take part with better than standard measures of extra cash, Australia will have a task to carry out later on of online club gaming.

Closing the gap between the number of male and female gamblers

There is another primary consideration that should be tended to the outside of country-by-country advance, this showing the number of women starting on betting, as they are currently assuming a more interactive performance in net revenues than any other time in recent memory. Ladies presently represent around 40% of all betting movement in the UK, as indicated by information on the latest statistics for online gambling issued by UKGC.

According to online gambling statistics, for ladies, amusements, for example, bingo have demonstrated continuously to be prevalent. However, it gives the idea that many are currently moving onto different recreations – explicitly spaces – as every year passes by.