Srinagar Magazine

Gambling Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2022

 Breaking News
  • No posts were found

Gambling Market 2019 Global Trend, Segmentation and Opportunities, Forecast 2022

August 30
23:48 2019
“Gambling Market”
WiseGuyReports.com adds “Gambling Global Market Opportunities And Strategies To 2022” reports to its database.

Gambling Market:

Executive Summary

This report describes and evaluates the global gambling market. It covers two five-year periods, 2014 to 2018, termed the historic period, and 2018 through 2022, the forecast period.

The global gambling market size reached a value of nearly $449.3 billion in 2018, having grown at a compound annual growth rate (CAGR) of 4.1% since 2014, and is expected to grow at a CAGR of 5.9% to nearly $565.4 billion by 2022.

Growth in the historic period resulted from the growth in the experience economy, favorable visa policies and initiatives, emerging markets growth, rapid urbanization, the rise in mobile gambling, and the increase in the number of female gamblers. Factors that negatively affected growth in the historic period were high tax rates on casinos, and unpredictable weather conditions. Going forward, the legalization of gambling, global economic growth, increasing use of social media, and changing consumer gambling habits will drive growth. Factors that could hinder the growth of this market in the future include stringent government regulations on gambling, and demographic changes.

Request Free Sample Report @ https://www.wiseguyreports.com/sample-request/4192543-gambling-global-market-opportunities-and-strategies-to-2022

The gambling market is segmented by type into casino, lotteries, sports betting, and others. The lotteries segment was the largest segment of the gambling market in 2018 at 46.1% or $207.3 billion. The sports betting segment is expected to be the fastest-growing segment going forward at a CAGR of 6.9%.

The casino market is further segmented by sales channel into offline, online, and virtual reality (VR). Offline gambling was the largest segment of the casino market by sales channel in 2018 at 94.3%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 21.7%.

The sports betting market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the sports betting market by sales channel in 2018 at 65.7%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 14.3%.

The lotteries market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the lotteries market by sales channel in 2018 at 96.2%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 14.9%.

The other gambling market is further segmented by sales channel into offline, online, and VR. Offline gambling was the largest segment of the other gambling market by sales channel in 2018 at 94.4%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 15.6%.

Asia-Pacific was the largest market for gambling, accounting for 32.7% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Asia-Pacific and Africa will be the fastest growing regions in the gambling market, where growth will be at CAGRs of 7.9% and 7.7% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 6.13% and 6.12% respectively.

The gambling market is relatively fragmented with a large number of small entities with minor shares. Players in the market include China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Las Vegas Sands Corporation, Japan Takarakuji lottery, and Galaxy Entertainment Group Limited.

The global amusements market, of which the gambling market is a segment, reached a value of nearly $511.3 billion in 2018, having grown at a CAGR of 4.5% since 2014. It will expected to grow at a CAGR of 6.3% to nearly $652.6 billion by 2022. The gambling market was the largest segment of the amusements market accounting for 87.9% of the total in 2018. The amusement park segment is expected to be the fastest growing segment in the amusements market, growing at a CAGR of 8.9% during 2018-2022.

The top opportunities in the global gambling market will arise in the offline lotteries segment, which will gain $48.1 billion of global annual sales by 2022. The gambling market size will gain the most in China at $23 billion. Market-trend-based strategies for the gambling market include adoption of advanced security measures for online gambling, investments in mobile gambling, investments in branded slot games and gambling apps for smart watches, and the use of large-format slot machines and big data analytics. Player-adopted strategies in the gambling industry include introducing new lottery products, providing easy mode of payments, and expanding into emerging countries.

To take advantage of these opportunities, The Business Research Company recommends the gambling companies to focus on skill-based games and hybrid games, invest on mobile apps, focus on retirees and senior citizens demographic, and focus on affiliate marketing, among other strategies.

Continuous…

For further information on this report, visit – https://www.wiseguyreports.com/reports/4192543-gambling-global-market-opportunities-and-strategies-to-2022

 

Media Contact
Company Name: Wiseguyreports.com
Contact Person: Norah Trent
Email: Send Email
Phone: +1 646 845 9349, +44 208 133 9349
City: Pune
State: Maharashtra
Country: India
Website: www.wiseguyreports.com

Related Articles