Online Gambling Market Size, Share, Growth Analysis, By Type(Sports Betting, Casinos, Poker, Lottery), By Devices(Desktop, Mobile, Others), By Region - Industry Forecast 2024-2031

Online Gambling Market size was valued at USD 56.78 billion in 2019 and is poised to grow from USD 63.53 billion in 2023 to USD 153.57 billion by 2031, growing at a CAGR of 11.7% in the forecast period (2024-2031).

The growing use of mobile phones for online gaming in public places as well as at home, combined with rising internet penetration, is propelling the Online Gambling market. Furthermore, cultural and legal acceptance, easy access to online gambling, celebrity endorsements, and corporate sponsorships are boosting Online Gambling market growth. Due to widespread availability of low-cost mobile applications, the Online Gambling market is expected to grow further.

Improvements in the digital space are occurring in tandem with the annual expansion of online casinos, and these enhancements are aimed at achieving the desired trust in the online betting sector. In gambling, for example, virtual reality (VR) generates a simulation of the surroundings; users can interact with them in real time using special equipment such as gloves with sensors. VR allows gamblers to interact with other bettors and dealers while also providing a more realistic gambling experience, better sound quality, and realistic game design. By creating new growth opportunities, VR has assisted the Online Gambling market in improving the gambling experience.

US Online Gambling Market is poised to grow at a sustainable CAGR for the next forecast year.