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Global Online Gambling Market to Reach $102.97 Billion by 2025

Published

5 years ago

August 28, 2019

Global Online Gambling Market to Reach $102.97 Billion by 2025

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Grand View Research Inc. has reported that the size of the global online gambling market is expected to reach USD 102.97 billion by 2025, registering a CAGR of 11.5% from 2019 to 2025.

Increasing adoption of smartphones and easy access to casino gaming platforms are currently driving the market growth. Factors such as increasing internet penetration and availability of cost-effective mobile applications for betting are also expected to contribute to the market growth over the forecast period.

Electronic Gambling Devices are inexpensive to run and easily available. These devices have in-built software that mimics the experience of a local casino. Video Lottery Terminal uses advancing technology and can also be customised to electronic slot machines, spinning reel slot machines, video slot machines and electronic poker games.

Increasing digitalisation coupled with secure digital payment options are also some factors contributing to market growth. The market is further expected to gain momentum over the forecast period. This may be attributed to the rising use of digital currency and websites provided by companies for betting and gambling.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.