Online gambling has experienced exponential growth over the past decade, transforming into a multi-billion dollar industry with a massive impact on the worldwide economy.
This article provides a comprehensive overview of the global online gambling landscape, focusing on the most popular forms of online gambling worldwide and the varying public opinions towards the industry.
Skyrocketing Markers
According to statista.com, revenue in this market is expected to reach $97.70 billion in 2024, with a projected annual growth rate of 6.46% between 2024-2029, a market volume of $133.60 billion by 2029, and 281.8 million online gamblers by 2029.
User penetration, which is expected to reach 5.9% by the end of 2024, is also expected to hit 7.4% by 2029. In terms of specific countries, the US is the biggest gambling market in the world, with an estimated revenue of $24,980 million in 2024, followed by China (Macau), Japan, Italy, and the United Kingdom. Canada has the highest user penetration rate, at 69.4%.
As for players, according to Britannica.com, a roughly estimated $10 trillion is legally wagered every year all around the world, with illegal gambling possibly exceeding this figure.
Popular Forms of Online Gambling
Sports Betting
According to YouGov, sports betting represents the most popular form of online gambling, accounting for a substantial portion of the market. In Europe, it represented 42.5% of the online gambling market in 2018. By 2029, the number of global online bettors will reach 182.5 million due to the attraction of major sporting events and the increasing availability of online casino platforms. Most revenue will be generated in the US, with $14,300 million in 2024, but the activity is also highly popular in Italy, Sweden, Denmark, Spain, and Mexico.
Casino Online Games
Online casino games, including slots, blackjack, and roulette, are the second most popular form of online gambling. In 2018, they accounted for 32.4% of the European market. By 2022, online casinos dominated the global market with a 52% share, reflecting their widespread appeal and the continuous innovation in game offerings.
As the number of legal and responsible casinos online increases and the security constant development of VR, AR, and AI technologies, players’ interest is expected to remain high.
Online Lotteries
According to a global survey, 42% of respondents participate in online lotteries. State-licensed and state-operated lotteries in Europe and the US are on top, followed by organized football/soccer pools found in almost all European countries, some South American countries, Australia, and several African and Asian countries.
Online lottery games like instant win games and traditional draws are also immensely popular. Great Britain, Germany, Poland, Denmark, France, and Singapore have particularly high participation rates in online lottery draws.
Poker
While not as dominant as sports betting or online casino games, online poker maintains a strong presence, with over 100 million players worldwide. According to Custom Market Insights, the global online poker market size will reach $170 billion by 2030, and the incorporation of VR in online poker platforms, high-speed internet accessibility, the growing appeal of online casinos, and the growing use of smartphones are big factors.
The US ranks at the top of countries with the most number of poker players, with the keywords “online poker” being searched for more than 27,000 times a month in the US.
Bingo
Bingo is one of the most-played social games on the planet with over 100 million global players, a $90 million industry in the US alone, and a market value estimate of $2.29 billion in 2019. In the UK, roughly 3 million people play the game considered a cultural phenomenon regularly.
Fantasy Sports
Fantasy sports are especially popular in India, where they are reported as the most favored form of online gambling. In the US, 79% of fantasy sports participants prefer football, with Fantasy Premier League counting over 11.4 million players in the 2022/23 season.
Public Sentiment Towards Online Gambling
The public’s opinion towards online casinos and betting varies widely across the globe, with statistics highlighting a significant divide. According to a YouGov survey, 23% of respondents strongly oppose the legalization of online gambling, while 16% strongly support it. Overall, 46% believe that online gambling including online casinos should not be allowed, compared to 37% who disagree.
Additionally, 57% of respondents believe that gambling businesses do not take problem gambling seriously, indicating a demand for better consumer protection measures.
There are also stark regional differences in attitudes towards online gambling. While 36% of Spaniards strongly oppose online gambling, reflecting their conservative stance, in contrast, 76% of Indians favor it over traditional methods. These variations underscore the cultural and regulatory differences that shape public opinion.
Trust issues remain a major concern in the online gambling industry. A significant 57% of survey respondents feel that gambling businesses do not take problem gambling seriously. This sentiment underscores the need for improved consumer protection measures and responsible gambling practices. Expert Clarissa Kane from one of the best online casino platforms emphasizes the importance of transparent and responsible operations to build user trust.
Younger generations aged 18-34 are more inclined towards online gambling, especially online casino gaming, driven by their familiarity with digital platforms. In contrast, older demographics tend to prefer traditional forms of gambling, although their online participation is gradually increasing.
Conclusion
The global online gambling landscape is led by sports betting and online casino games, with lotteries, poker, and fantasy sports following closely behind. The industry is constantly evolving, influenced by frequent legislative changes and new legal market openings. Understanding the dynamics of regional variations, prevalent trust issues, and the division in global public opinion is essential to navigating this fast-growing sector. Its future will be shaped by the industry’s ability to address trust concerns, adapt to changing demographic trends, and ensure responsible practices.
