North America Online Gambling & Betting Market Size Likely to Surpass at a CAGR of 11.3% By 2033

According to CMI Market Research, North America Online Gambling and betting Market Share was valued at USD 11863.6 Million in 2022 and is projected to reach USD 34685.3 Million by 2032, growing at a CAGR of 11.3% from 2022 to 2032.

North America Online Gambling and Betting Market: Growth Factors and Dynamics

• Legalization and Regulatory Changes: The market is significantly impacted by the legalization of online gambling and the establishment of regulatory frameworks. As more U.S. states legalize online gambling, it creates new opportunities for operators and attracts investments. Regulatory changes, such as the repeal of PASPA, have specifically fostered the growth of online sports betting in the United States.

• Technological Advancements: Rapid technological advancements have played a crucial role in the market’s expansion. The widespread availability of high-speed internet, the proliferation of smartphones, and the development of user-friendly gambling platforms have made online gambling more accessible and convenient for players. Innovations like live dealer games, mobile apps, and virtual reality experiences have further enhanced the overall gaming experience, appealing to a broader audience.

• Changing Consumer Behavior: The shift in consumer behavior towards online and digital experiences has fueled the growth of the online gambling market. The convenience of gambling from home, the ability to access a wide range of games and betting options 24/7, and the availability of secure payment methods have attracted a growing segment of the population. Additionally, the younger generation’s inclination towards online platforms and mobile gaming has significantly contributed to market expansion.

• Sports Betting Expansion: The legalization of sports betting in various states has been a major driver of growth in the North American market. The increasing popularity of sports, the integration of sports betting into mainstream media and entertainment, and the establishment of partnerships between sports leagues, teams, and gambling operators have collectively contributed to the surge in online sports betting activity.

• Rising Social Acceptance: Over time, online gambling has gained greater social acceptance and shed its previous stigma. As perceptions change, more individuals are willing to engage in online gambling activities, leading to increased participation and market growth.

Report Scope

North America Online Gambling & Betting Market: COVID-19 Analysis

The COVID-19 pandemic has had a significant impact on the North America Online Gambling & Betting Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:

• Shifting from Offline to Online: The closure of land-based casinos and sports books during the pandemic led to a substantial increase in online gambling activity. With limited opportunities for in-person gambling, individuals turned to online platforms for their gaming and betting needs. This accelerated the growth of the online gambling market as more people explored digital alternatives.

• Increased Participation in Online Gambling: The pandemic and subsequent lockdown measures provided individuals with more leisure time, resulting in a rise in online gambling participation. With limited entertainment options available, many individuals turned to online gambling as a form of entertainment and even a potential source of income. The convenience, accessibility, and wide variety of online gambling options made it an appealing choice for those seeking entertainment from the comfort of their homes.

• Surge in Sports Betting: The pandemic caused significant disruptions to the sporting calendar, with numerous leagues and events being cancelled or postponed. However, as sports gradually resumed, there was a surge in online sports betting as fans eagerly engaged in betting on sports outcomes. The resumption of major sports events provided a significant boost to the online sports betting sector.

• Regulatory Changes and Adaptation: The increased demand for online gambling during the pandemic prompted regulatory changes to accommodate this shift. Several states in the United States expedited the legalization of online gambling and sports betting to capture tax revenue and meet consumer demand. These regulatory adaptations allowed more operators to enter the market, resulting in an expansion of the online gambling landscape.

In conclusion, the COVID-19 pandemic has had a mixed impact on the North America Online Gambling and betting Market, with some challenges and opportunities arising from the pandemic. Factors such as the pace of economic recovery, ongoing regulatory decisions, and evolving consumer behavior will continue to shape the market’s trajectory.

List of the prominent players in the North America Online Gambling and betting Market:

• Bet365
• DraftKings
• FanDuel
• MGM Resorts International
• Caesars Entertainment
• The Stars Group (Flutter Entertainment)
• Golden Nugget Online Gaming
• 888 Holdings
• William Hill
• Kindred Group
• Betway
• Bovada
• Intertops
• Unibet
• BetOnline
• PointsBet
• Hard Rock Online
• Resorts Digital Gaming
• Rush Street Interactive
• Churchill Downs Incorporated
• Others

The North America Online Gambling and betting Market is segmented as follows:

By Gaming Type:

• Poker
• Casino
• Social Gaming
• Lottery
• Bingo
• Fantasy Sports

By Device Type:

• Desktops & Laptops
• Mobiles & Tablets

Regional Coverage:

• United States
• Canada
• Mexico