Global Online Casino Market 2024–2033

Reports Description

As per the current market research conducted by the CMI Team, the global Online Casino Market 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

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. Tabletop games like blackjack have a known house edge if the online casino uses a correctly constructed random number generator.

The game’s regulations determine the payout percentage. The online casino market is driven by several factors, including rising internet penetration and mobile accessibility, the growing popularity of online entertainment, legalization and regulation of online gambling, technological advancements, rising disposable income, rising popularity in emerging markets, and many others. However, regulatory and cybersecurity threats might pose a major challenge to the online casino market.

• According to estimates released by the U.S. Bureau of Economic Analysis, personal income increased $147.4 billion (0.6 percent at a monthly rate) in October 2024. Disposable personal income (DPI), personal income less personal current taxes, increased $144.1 billion (0.7 percent), and personal consumption expenditures (PCE) increased $72.3 billion (0.4 percent).

• World gambling statistics show that around 26% of the population gamble. That means around 1.6 billion people worldwide gambl,e and 4.2 billion gambles at least once yearly. When it comes to online gambling and demographic statistics, a UK study concludes that 17% of the population gambles online, resulting in £5.3 billion in revenue for the online market alone.

Online Casino Market: Growth Factors

Technological advancements

The rapid technical advancement is one of the key contributors for the growth of the online casino market over the projected period. Mobile gaming platforms, advanced gaming software, and improved security measures have contributed to a better user experience.

Combining virtual reality (VR) and augmented reality (AR) technologies creates immersive and engaging gaming experiences that attract a larger audience. Furthermore, the use of blockchain technology and cryptocurrencies has added new degrees of security and transparency to transactions and increasing customer trust in online gaming platforms.

This technological advancement has not only made online casinos more accessible but also more engaging. Therefore, technical advancements are expected to drive the industry expansion.

Introduction of innovative features by the key market players

The market is expected to increase in the future years as novel features, including live dealer games and virtual reality casinos, open up new ways to attract and keep customers. Virtual reality casinos, on the other hand, offer a completely immersive experience by sending players to a virtual casino atmosphere.

For example, in March 2024, Bally’s Corporation will debut virtual casino games in Rhode Island. The iGaming app includes a chat capability that lets players to engage with the dealers. These developments attract a broader spectrum of companies, contributing to the market’s overall growth.

Online Casino Market: Recent Development

The online casino industry adopted several strategies, which include product launches, acquisitions, collaboration, expansion, and others. Some of the company strategies include:

• In September 2024, Flutter Entertainment Plc acquired Snaitech S.p.A., an omnichannel operator in Italy, from a sub-division of Playtech Plc, for an enterprise value of USD 2.6 billion. This strategic initiative is part of the company’s aim to strengthen its position in international markets.

• In June 2024, a subsidiary of Betsson AB obtained its local licenses for the newly regulated market of Peru for online casino and sports betting. Apart from the new licenses, the company also holds licenses in two other regional markets, Argentina and Colombia.

These collaboration strategies have expanded the company’s market presence in the online casino industry and gained its competitive edge.

Online Casino Market: Challenge

Cybersecurity threats

The exciting growth possibilities for online gambling have enticed hackers, who utilize bots to target funds transmitted via various payment gateways such as electronic checks, wire transfers, and credit cards. As a result, market participants are taking significant steps to address these challenges by raising consumer knowledge and encouraging them to install anti-virus software on their smartphones and computers.

Furthermore, corporations use third-party apps to safeguard their websites and enable secure online financial operations. Federal legislation prohibits wire communication facilities in gambling or sports betting because the facilities include the Internet.

However, the internet allows gamblers to maintain an anonymous identity and quickly abandon gambling sites, making it impossible to trace their gambling behavior. Online gambling also increases the risk of app-based hacking. For example, live casino mobile apps are simple to modify and intercept via shared Wi-Fi and 4G signals. Furthermore, fraudsters might control the apps by issuing false editions with viruses.

Nowadays, many casinos utilize standard 128-bit encryption and preserve an offsite backup of their customers’ information. As a result, the data would remain protected even if the site was subjected to a Denial-of-Service (DoS) assault.

Online Casino Market: Category-Wise Insights

By Type:

The iSlots segment is expected to dominate the market. The unique blend of classic slot gaming and interactive narratives drives demand for iSlots, resulting in sector growth. Unlike traditional slot machines, iSlots offer a more engaging experience by including skill-based aspects and evolving tales as the game advances.

This interactive feature appeals to a larger audience, particularly younger gamers who like immersive and dynamic gaming experiences.

Besides, the dealer segment is growing at a rapid rate. The increased demand for iDealer, which can deliver a more interactive and authentic gaming experience, is boosting the segment’s growth. iDealer technology, which uses live human dealers to webcast games in real time, appeals to players who want a more engaging and immersive experience.

This area is further encouraged by advances in video streaming and smartphone technologies, which enable consumers to participate in live dealer games from anywhere.

By Device:

The desktop segment is expected to dominate the market. Desktop systems provide a more immersive gaming experience than mobile devices, with larger screens, improved visuals, and smoother gameplay. Furthermore, desktops are better suited for players who participate in complicated games such as live dealer casinos, poker, or high-stakes slots, which require more processing power and screen area.

Besides, the mobile segment gis rowing at a rapid rate. The segment expansion is attributed to growing advancements in internet infrastructure and the popularity of smartphones.

Report Scope

Online Casino Market: Regional Analysis

North America is projected to dominate the online casino market. The expansion is due to the rising legalization of online gambling in several U.S. jurisdictions, including New Jersey, which has built a robust regulatory environment that promotes market expansion.

Furthermore, technical improvements like mobile gaming platforms and financial breakthroughs like digital wallets have improved the user experience, attracting more players to online casinos. The combination of sports betting and online casinos, particularly during important sporting events, has significantly boosted the industry outlook.

However, the Asia Pacific is growing significantly in the global online casino industry. The growing disposable income is expected to drive the regional industry expansion.

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