Online gambling industry forecast 2025 for LeoVegas and worldwide
The data and information on the online gambling market research report global forecast for 2025 can benefit prospective online gambling businesses.
The research was done keeping in mind the different market segments like
- Payment mode
- Geographical location.
Let’s look forward to what the gambling industry has in store for the future. Will it be fruitful to get indulged in a similar business? Here is what you can expect from the online gambling industry five years down the line.
The global online gambling industry is expected to grow in terms of revenue from USD 58,719.56 million in 2020 to USB 95,023.13 million in 2025.
Here is the growth of the industry according to market segmentation and coverage. The research has been conducted taking into consideration their sub-markets, namely:
Type of game
In the different types of game market, it is expected that sports betting will witness the highest growth during this period. It is also regarded to be the largest in size among the other different types of games like Bingo, lottery, social gaming, Leo Vegas casino, and poker.
Sports betting is expected to grow with the fastest CAGR during the forecast period. With new sports betting apps released into the market every day, it seems to get on the trend already.
Type of device
Among the various types of devices used in the online gambling market, the mobile device is expected to see the highest growth. Where the mobile is expected to grow with the highest CAGR, the desktop version is regarded to have the largest size in the market.
So, if you are into online casinos and want to have no deposit bonus information, make sure your gambling business is responsive to all screen sizes.
Base on the two payments used for online gambling, real money would be players first choice, and it is expected to grow the highest during the period as against virtual money.
So, we guess virtual currencies like cryptocurrencies will still be seen in the backseat. Also, real money will have the largest size in the online gambling market along with the highest CAGR.
Online gambling is spread all across the world now with its increasing popularity and craze for no deposit bonus. However, due to restrictions regarding its illegality in certain countries, there are still regions that lack behind the others.
It is examined that the Asia-Pacific region, including countries like Australia, India, Brazil, Mexico, China, Japan, Malaysia, South Korea, Philippines, and Thailand, will witness the highest growth of the online gambling market during the forecast period.
Other regions that were covered under the research included America, Europe, Middle East, and Africa. It is also expected that the Middle East, Africa, and Europe region will have the largest size in the online gambling market in 2020.
- Increased use of smartphones and penetrative reach of the internet
- Online gambling legalization and increased government regulations in place
- Presence of online dangers like cyber crimes and hacking issues
- Reluctant behavior of people to switch from land-based casinos to online gambling
- Adapting virtual currencies as payment options
- Making use of advanced technological advancement like AI, blockchain, virtual reality to heighten the gaming experience
- Cultural barriers and rising cases of irresponsible and addictive playing
Impact of COVID-19 on the online gambling industry
The research also provides deep insight into the cumulative impact of Covid-19 on the online gambling market, including the latest LeoVegas Casino.
It takes into consideration the issues created by it and the potential path forward. It also specifies the changes in behavior, demand and purchasing pattern, supply chain, government interventions, and other insights.
Story by Nikita Mittal. Nikita has been writing insightful articles for eleven years now. When she is not in the city, she is busy watching sunrises in the mountains or sunsets on the beach.