The report focuses on analyzing the current competitive scenario of the online casino market and provides background information, market data, and product introductions of the leading players in the online casino market. The report begins with an overview of the industry chain structure, describes the industry environment, further analyzes the market size, and provides forecasts for the online casino market of various types, applications, and regions. The report includes a Competitive Analysis, a proprietary tool that analyzes and evaluates companies based on their performance in the market as well as their industry positioning score. The market research conducted for this industry report also sheds light on the challenges, market structure, opportunities, drivers, and competitive landscape of the companies.
The market report provides insights into the latest trends in industry growth and analyzes the technologies that are being rapidly deployed globally. These are described in the key topics of this market report such as market definition, market segmentation, competitive analysis, and research methodology. The Data Bridge Market Research Casino Online Gambling Market report provides analysis and insights into the various factors expected to prevail during the forecast period and their impact on the Casino Online Gambling Market growth.
The online casino gambling market is expected to grow at a CAGR of 13.70% during the forecast period of 2021-2028 and is estimated to reach USD 144.74 billion by 2028. The high frequency of gaming websites, growing registrations, increasing laws favorable to online gambling, and technological advancements are all expected to provide lucrative opportunities for players in the casino online gambling market during the forecast period from 2021 to 2028. Online betting is expected to be the fastest growing segment during the forecast period.
Moreover, the growing trend of playing games remotely is expected to fuel the demand for online betting. The global online betting market is also expected to experience increasing dynamism over the forecast period due to the increasing use of digital currencies and the websites offered by companies to bet and play games. The global online gambling market remains highly fragmented with many small and large players competing for customers. Increasing internet penetration and rapidly growing urbanization across the globe are the key drivers of the online casino industry.
The global online casino market is expected to experience a CAGR of 9.9% from 2022 to 2027, reaching $131.4 billion in 2027 B. The global online casino market is expected to grow at a CAGR of 13.6% from 2019 to 2026, reaching approximately $60 billion in 2026. The market is expected to grow from $74.17 billion in 2021 to $158.82 billion in 2028, representing a CAGR of 11.4% from 2021 to 2028. The market is expected to grow at a significant CAGR during the post-pandemic period.
Online gaming companies are likely to expand their sports betting options in 2018 after the Supreme Court legalized sports betting in the U.S., further supporting market growth. These new payment methods, along with growing interest in esports (video games) and fantasy sports leagues, are expected to fuel continued revenue growth for online gambling in the coming years. In addition, easy and convenient payment methods are increasing player participation in online gambling. Increasing smartphone adoption, advancements in internet technology, and the growing spending power of users are driving market demand, especially for digital games.
The global growth of the online casino market is also driven by the cultural acceptance of online gambling as well as its increasing legalization in various countries. According to a new report by Grand View Research, Inc. the global online gaming market is expected to reach $127.3 billion by 2027, growing at a CAGR of 11.5% between 2020 and 2027. To maximize opportunities and rebound from the COVID-19 aftermath, vendors in the market need to focus more on growth prospects in fast-growing segments and maintain their position in slower-growing segments.