Accelerated Growth In The Gambling Market Expected To Continue Through 2026
Gambling Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Gambling Global Market Report 2022 - Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, March 9, 2022 /EINPresswire.com/ -- The Gambling market suffered heavily in 2019-20, due to the restrictions imposed to control the COVID-19 pandemic. All sectors of the market experienced significant market decline, as governments mandated strict constraints on social gatherings and high-street trading closures. As per data on the Global Market Model, revenue in the Casino sector dropped by -53.3%, Lotteries dropped by -62.9%, Sports Betting by -64.8% and Others by -52.0%. The total market slump for 2019-20 was -60.5%.
The market witnessed a strong, but only partial, bounce-back in 2020-21, with Casino revenue growing by 37.3%, Lotteries by 43.6%, Sports Betting by 44.8% and Others by 36.5%. The total market recovery rate was 41.6%. However, this high growth rate is expected to continue through to 2025 with an overall CAGR of 30.8% between 2021 – 25. Looking at longer term growth, from 2019 (before the slump) to 2025, we expect a more normalised CAGR of 8.6% over the six-year period and it will continue at a rate of 8.1% up to 2030 (CAGR, 2019 – 2030).
In US dollar terms, global revenue stood at $513.54 billion in 2019 and dipped to $202,93 billion and $287.43 billion respectively, in 2020 and 2021. The forecast total revenue to 2025 is $841.38 billion and $1,207.33 billion by 2030.
The Lotteries segment consistently holds over 50% of market share, followed by Casinos, which peaked at 29.3% in 2020 and Sports Betting with less than 20% of the market. Since 2010, the relative market share of the segments has stayed constant and is expected to remain that way to 2030, although Sports Betting will enjoy the strongest relative growth (in part, due to the COVID dip between 2020 – 2021).
Historically, up to 2019 and pre-COVID, the biggest gambling regions were Asia Pacific (35.3% share) and North America (30.0%). Revenue levels between 2020-2021 for all the major gambling regions – Asia Pacific, North America and Western Europe – all fell significantly due to the social impact of COVID in the different regions, with Asia Pacific, North America and Western Europe all showing significant revenue shrinkage, even though Asia Pacific suffered much lower COVID infection rates than the other regions.
The gambling market consists of sales of gambling services and related goods by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting. Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under gambler control, with an intent of winning money. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market.
China and India are the largest gambling consumers, with 38.2% and 37.5% respectively in 2020. The USA is a distant third at 9.0%, followed by Russia and Japan.
The Gambling Market Report is one of a series of new reports from The Business Research Company that provides gambling market overviews, analyzes and forecasts gambling market size, share, gambling market players, gambling market segments and geographies, the market’s leading competitors’ revenues, profiles and market shares.
Related reports on this topic include:
https://www.thebusinessresearchcompany.com/report/gambling-market
https://www.thebusinessresearchcompany.com/report/online-gambling-global-market-report
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