Online Gambling refers to betting of money online on an event with an uncertain outcome. Online gambling is similar to gambling but the difference is that online gambling is betting on sports or casino over the internet. Online gambling is not limited to playing cards. It is a whole gamut of gambling over the internet which includes an online casino, online sports betting, or online bingo.
Online gambling is divided into four segments, casino, betting (mainly on sports), poker and other products (which include lotteries, bingo, social gaming etc.). Online casinos are the virtual version of traditional casinos which are also known as internet casinos. In online casino games, players have access to large number of games such as roulette, blackjack, pachinko, baccarat and many others. Betting is generally placed on sports and is an activity of putting money on predicting sports outcome. Poker is games of cards which are played online in the same way in which land-based pokers is played with all participants betting and determine the winner of each hand according to the combinations of player’s card.
Europe is the main contributor to the online gambling market with increasing disposable income and mobile use. Asia has great potential in the years ahead with new technologies and increasing accessibility of the internet. In addition, easing government regulations would help in fuelling the market growth for online gambling in this region.
The global online gambling market is expected to grow in future with increasing smartphone users, rising demand for internet of things and growth of mobile gaming. Key trends in this market include growing number of online women gamblers, changing consumer gambling habits, use of alternative cash options, market consolidation, and technological advancement. However, there are some factors which can hinder the growth of market including stringent regulations, security issues, and high tax rates.
The report “Global Online Gambling Market: Industry Analysis & Outlook (2017-2021)” by Koncept Analytics provides an extensive research and detailed analysis of the present market along with future outlook. The report discusses the major growth drivers and challenges of the market, covering Europe, Asia and North America region along with the global market. The report profiles the key players of the market including William Hill Plc., Paddy Power Betfair Plc., 888 Holdings Plc. and Kindred Group Plc.