Global Online Casino Market Size Likely to Expand at a CAGR of 12.5% By 2033

As per the current market research conducted by the CMI Team, the global Online Casino Market size is expected to record a CAGR of 12.5% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 19.7 Billion. By 2033, the valuation is anticipated to reach USD 56.8 Billion.

Online Casino Market: Overview

According to industry experts at CMI, Online casinos, often virtual or Internet casinos, are online counterparts to traditional (“brick and mortar”) casinos. Online casinos allow gamblers to play and wager on casino games over the internet.

It is a popular form of internet gambling. Some online casinos advertise greater payback percentages for slot machine games, while others post payment percentage audits on their websites.

The innovative product launch and rising collaboration among the key market players are driving the revenue growth of the online casino industry. For instance, in June 2023, Groupe Partouche and Betsson AB collaborated to provide online casino services in the Belgian regulated market.

Online Casino Market: Growth Factors and Dynamics

Ease of access and convenience

Online gambling systems provide exceptional ease, allowing customers to access various games from any location and anytime. This ease of access, made possible by the common availability of internet services and the proliferation of smart gadgets, has been critical in drawing a wide spectrum of customers. The convenience of playing online casinos from anywhere might be a major prospect for the industry expansion.

Popularity of smartphones

The increased popularity of mobile devices and the availability of mobile casino games drive the industry’s growth. The growing use of smartphones and the development of powerful mobile technologies have made it easier for players to access and enjoy online casino games.

Issue related to evolving technology

The increasing technological challenge in the online casino sector will hamper the industry’s expansion. These issues originate from the quickly changing technical landscape, high consumer expectations, and the complexities of managing multinational operations.

Online casinos require platforms capable of handling millions of customers simultaneously, particularly during peak hours, poor scalability can cause server crashes, slow load times and worst user experience. Furthermore, players can access several devices, such as smartphones, tablets, and others. Maintaining consistent functionality across the device might pose a major challenge to market growth.

Report Scope

Online Casino Market: New Launches and Acquisitions

• In February 2023, Anaxi partnered with BetMGM. This collaboration brings world-class content, technology, and creativity to the iGaming industry.

List of the prominent players in the Online Casino Market:

• evoke plc
• Bally’s Corporation
• Bet 365 Group Ltd.
• Betsson AB
• Entain Plc
• Firekeepers
• Flutter Entertainment Plc
• Churchill Downs Inc.
• Kindred Group
• Ladbrokes Coral Group Plc
• Sky Betting & Gambling
• Sportech Plc
• The Stars Group Plc
• William Hills Limited
• Others

The Online Casino Market is segmented as follows:

By Type

• iSlots
• iTable
• iDealer
• Others

By Device

• Desktop
• Mobile
• Others

Regional Coverage:

North America

• U.S.
• Canada
• Mexico
• Rest of North America

Europe

• Germany
• France
• U.K.
• Russia
• Italy
• Spain
• Netherlands
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• New Zealand
• Australia
• South Korea
• Taiwan
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America