Global Online Gambling and Betting Market Size Likely to Grow at a CAGR of 12.01% By 2034

Online Gambling & Betting Market Size

As per the Online Gambling and Betting Market size analysis conducted by the CMI Market Research Team, the global Online Gambling and Betting Market is expected to record a CAGR of 12.01% from 2025 to 2034. In 2025, the market size is projected to reach a valuation of USD 88.44 Billion. By 2034, the valuation is anticipated to reach USD 245.45 Billion.

Online Gambling & Betting Market Overview

As per the industry experts at CMI, Sector growth is primarily on the rise due to increased smartphone penetration, regulatory changes that promote wider legalization, advancements in mobile technology, and the expansion of cryptocurrency payments. The sector is also spurred on by an increase in the popularity of sporting events and live gaming platforms, along with enhanced customer experiences via AI and VR.

Online Gambling & Betting Market Growth Factors and Dynamics

• Technology: Technological innovations, including artificial intelligence (AI), blockchain, and virtual reality (VR), are significant growth drivers in the online gambling market. AI enhances personalization and predictive analytics and improves customer service, while blockchain ensures secure transactions, reducing fraud. VR provides immersive gaming experiences, making online casinos more interactive and engaging. These technologies, too, promote higher user engagement, offer diverse betting options, and provide streamlined solutions toward encouraging higher participation in online gambling, especially in emerging markets.

• Legalization and Regulation: The progressing legalization of online gambling in different geographical regions served to promote a huge share of market growth. Online gambling, from the U.S. to Canada to certain parts of Europe, has been legalized or regulated, therefore giving new opportunities to operators. As recognition of the economic viability of online betting blossoms, more countries will embrace the regulation of this market so that operators can work in a safe environment and attract a wider audience. This clarity in regulation will further provide protection for players, increasing their confidence.

• Lucrative Mobile Betting: The rapid increase in the penetration of smartphones and mobile internet is basically one of the prime factors aiding in the growth of the online gambling market. Mobile betting platforms allow users to place bets anytime and anywhere, thereby driving their participation. The new breed of mobile apps that are user-friendly, secure, and provide live betting options is attracting a new breed of bettors, especially younger audiences. The mobile segment is expected to be the largest and fastest-growing, with projections showing that mobile betting will account for over 60% of the total market share by 2025.

• Competitive Landscape: The online gambling market is highly competitive and comprises multiple players, from the global giants like Bet365 and DraftKings to regional startups. Competition here is characterized by technological innovations, promotional strategies, and the sheer range of betting options available. These companies are forever engaged in providing better experiences concerning their mobile applications, live streaming, and personalized services. Companies that adopt technological innovations and mobile applications with user-friendly designs will always keep an edge; otherwise, they will surely lose market share in this highly dynamic environment.

• Changing Consumer Preferences: Customer preferences in the online gambling market are continuously changing; bettors are increasingly after more interactive and immersive experiences. The demand for live casino games, virtual reality (VR) gaming, and in-play betting has swelled. Consumers are now more concerned about responsible gambling, with several of them looking for transparency on odds and fairness of the game. This abrupt change of preference mandates operators to respond quickly to give a much more personalized, secure betting experience to retain customers.

• Regulatory Challenges: The online gambling and betting market has continuous challenges related to regulations. Different legal frameworks in different countries obstruct global operators wanting to modify their platforms for local needs. While some countries have adopted gaming regulations in operators’ favor, others still stick to tough regulations, including high taxes and minimum age restrictions. Any tax change or strict law enforcement might affect market growth drastically. Thereby requiring operators to rethink their business models or face impaired operational costs.

Report Scope

Online Gambling & Betting Market SWOT Analysis

• Strengths: From a base of a robust digital infrastructure, the online gambling market also offers gaming options ranging from sports betting to online casinos, poker, and lottery games. Accessibility is one of the major strengths of online gambling; since it works through mobile apps and websites, consumers can engage in betting activities from almost any location or time. User engagement has also improved due to technological advances like AI customizing experiences, blockchain securing payment methods, and VR providing an immersive gaming environment. With international reach, especially in regulated markets in Europe and North America, the market has a larger customer base. Legalization in emerging markets also aids further market access and boosts the growth and adoption of online gambling services.

• Weaknesses: The online gambling market has its fair share of challenges and weaknesses, primarily regulatory-related challenges, which include a maze of regulations, taxations, and general operational control by different countries that operator companies find hard to keep up with. Another important weakness is data privacy and security, which are issues that customers in the industry consider to be paramount. Cyberattacks and other security breaches will further add on to the already determined stigma of gambling, which is unkind on the industry view. The market is ever-dependent on high disposable income prospects, limiting further growth in low-income regions, thus making online gambling a less widely available option for the majority. The stigma surrounding gambling addiction can negatively affect market perceptions.

• Opportunities: Key growth opportunities are provided in the online gambling industry, especially now that almost every country is legalizing more and more types of gambling. The fast-growing markets in the Asia-Pacific, Latin America, and also Africa await improvement while their digital infrastructures are being enhanced and smartphone penetration rises. Mobile betting and gaming have been thriving, and innovations in mobile apps, live streaming, and AI will be instrumental in driving this growth. Cryptocurrencies and blockchain technologies in online betting present secure and transparent methods of transaction, appealing to a very technology-inclined audience. Harnessing the power of partnerships with some of the most popular sports leagues and integrating esports into online platforms to further develop unique betting opportunities would also contribute greatly. Investment in responsible gambling will further enhance the market reputation and lure in an audience that demands responsible conduct.

• Threats: One of the greatest threats toward the online gambling market is the enhanced regulatory scrutiny and impending imposition of stricter regulations by governments. Liberalization of the market favors the operators nevertheless, varying regulatory frameworks across regions create compliance problems for the operators. Cyber security risks like data breaches and fraud have become a big menace for operators and players, weakening the trust of the players in the online platform. Furthermore, growing competition in the market.

List of the prominent players in the Online Gambling and Betting Market:

• Bet365
• DraftKings Inc.
• 888 Holdings PLC
• Flutter Entertainment PLC
• MGM Resorts International
• Entain PLC (formerly GVC Holdings)
• William Hill
• PokerStars (The Stars Group)
• Kindred Group (Unibet)
• Betsson AB
• Caesars Entertainment Inc.
• LeoVegas AB
• Scientific Games Corporation
• Evolution Gaming
• Playtech PLC
• Golden Nugget Online Gaming
• PointsBet
• Betfair (Part of Flutter Entertainment)
• Rush Street Interactive
• Betway Group
• Others

The Online Gambling and Betting Market is segmented as follows:

By Type

• Poker
• Casino
• Bingo
• Sports Betting
• Lottery
• Others

By Price Point

• 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