SAN
FRANCISCO, March 22, 2022 /PRNewswire/ -- A new
market study published by Global Industry Analysts Inc., (GIA) the
premier market research company, today released its report
titled "Gambling - Global Market Trajectory & Analytics".
The report presents fresh perspectives on opportunities and
challenges in a significantly transformed post COVID-19
marketplace.
FACTS AT A GLANCE
What's New for 2022?
- Global competitiveness and key competitor percentage market
shares
- Market presence across multiple geographies -
Strong/Active/Niche/Trivial
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updates
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Platform
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Edition: 8; Released: February
2022
Executive Pool: 2109
Companies: 223 - Players covered include 888 Holdings
PLC; Bet365 Group Ltd.; Flutter Entertainment plc; Betsoft Gaming,
LTD; Betsson AB; Boyd Gaming Corporation; Bwin.Party Digital
Entertainment; Caesars Entertainment Corp.; Cherry Spelglädje AB;
Chetu Inc.; City of Dreams Manila; Creatiosoft Solutions Private
Limited; Crown Resorts Ltd.; Delaware Park; Elaunch Solution Pvt.
Ltd; Evolution Gaming; Galaxy Entertainment Group; Golden
Entertainment Inc.; Kindred Group PLC; Ladbrokes Coral; Las Vegas
Sands Corp.; MGM Resorts International; Microgaming; NetEnt AB;
Playson Limited; Scientific Games Corporation; SJM Holdings
Limited; William Hill Plc and Others.
Coverage: All major geographies and key segments
Segments: Type (Lottery, Betting, Casino); Platform
(Offline, Online)
Geographies: World; USA; Canada;
Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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Registry
ABSTRACT-
Global Gambling Market to Reach $876
Billion by 2026
Gambling has been a main recreational activity for man since time
immemorial. The act of gambling releases dopamine in the brain
similar to the effect of drugs of abuse substances such as nirvana
and heroin. The stimuli, arouses the senses creating a sense of
happiness and satisfaction. Also, gambling provides an escape from
everyday stress and boredom. In addition to invoking fun and random
luck, gambling also offers a sense of collective engagement. The
modern of age of glitzy casino environment has additionally morphed
gambling into a stylish and fashionable form of entertainment.
Legalized gambling also brings economic benefits in the form of tax
revenues for the governments and profits for gambling facilities
and communities. For this reason, legal gambling has been a growing
phenomenon in several countries including in the United States in recent decades. The
popularity of gambling in the country can be put into perspective
by the fact that over 80% of American adults gamble at least once
in their lifetime. As a large number of people spending more time
on mobile devices, remote gambling developers and platforms are
using the option to expand their customer base. Smart devices
available on the market allow users to access comprehensive
spectrum of mobile gambling games on the go.
Amid the COVID-19 crisis, the global market for Gambling
estimated at US$747.9 Billion in year
2022, is projected to reach a revised size of US$876 Billion by 2026, growing at a CAGR of 3.6%
over the analysis period. Lottery, one of the segments analyzed in
the report, is projected to record a 2.8% CAGR and reach
US$372.6 Billion by the end of the
analysis period. After a thorough analysis of the business
implications of the pandemic and its induced economic crisis,
growth in the Betting segment is readjusted to a revised 4.4% CAGR
for the next 7-year period.
The U.S. Market is Estimated at $267.5
Billion in 2022, While Asia-Pacific is Forecast to Reach
$322.4 Billion by 2026
Given that tourists and locals are key revenue contributors for
brick and mortar casinos, revenues plummeted significantly.
Unemployment and reduced consumer discretionary income also remain
key challenges to a speedy recovery. Also, since a significant
amount of money spent on gambling is attributed to slot machines at
locations such as hotels and airports, the closures of airports and
hotels is affecting revenue generation from these areas. Lockdowns
have resulted significant revenues losses compared to the previous
year. For instance, in New Orleans
the gambling market has already witnessed more than 60% decline in
revenues during the pandemic when compared to the previous years,
due to the closures. The casino industry is also impacted by the
fact that tourism and leisure sectors along with air travel, which
are vital for the industry growth, have been hit hard by the
pandemic.
Gambling market in the U.S. is estimated at US$267.5 Billion in the year 2022. Asia-Pacific (including China) is forecast to reach a projected market
size of US$322.4 Billion by the year
2026 trailing a CAGR of 4.4% over the analysis period. Among the
other noteworthy geographic markets are Canada and Europe, each forecast to grow at 3.1% and 3.5%
respectively over the analysis period. The post COVID-19 period
will offer exciting opportunities for mobile gambling. As mobile
devices support advances features and are easy to operate, mobile
gambling is an enticing option for gamers. With majority of casino
game providers offering plethora of options, it is easier for
players to enjoy these platforms anytime, anywhere without waiting
to access their personal computers. Advances in the field of mobile
technology coupled with better accessibility and connectivity have
enabled a large number of players to participate in remote
gambling. With rapid transition from console toward mobile, mobile
gambling is poised to emerge a rapid growing platform.
Casino Segment to Reach $153.1
Billion by 2026
In the global Casino Segment, USA,
Canada, Europe and Asia-Pacific will drive the 3.7% CAGR
estimated for this segment. These regional markets accounting for a
combined market size of US$116.3
Billion will reach a projected size of US$149.9 Billion by the close of the analysis
period. Asia-Pacific (including
China) will remain among the
fastest growing in this cluster of regional markets and is forecast
to reach US$34.5 Billion by the year
2026. More
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Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com
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SOURCE Global Industry Analysts, Inc.