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New Analysis from Global Industry Analysts Reveals Steady Growth for Gambling, with the Market to Reach $876 Billion Worldwide by 2026

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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.

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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; USACanadaEuropeFranceGermanyItaly; UK; Rest of EuropeAsia-Pacific; Rest of World.

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ABSTRACT-

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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, USACanadaEurope 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. 

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Bally Bet Sportsbook & Casino app

Bally’s Interactive Launches the New Bally Bet Sportsbook & Casino App in Ontario

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Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, has launched the all-new Bally Bet Sportsbook & Casino app in Ontario, Canada. This latest release marks another significant milestone for the company, following the recent app update in New Jersey and a series of successful app launches in the past year, including the introduction of Bally Bet Sportsbook across multiple states and Bally Casino in Rhode Island.

The updated Bally Bet Sportsbook & Casino app represents a major step forward, as it combines the functionalities of the existing Bally Casino app and Bally Bet Sportsbook app into one comprehensive platform. Powered by White Hat Gaming, this new app allows players residing in or traveling to Ontario to conveniently place wagers on both sports and casino games using a single app, account, and universal wallet.

“We are thrilled to introduce the new Bally Bet Sportsbook & Casino app, marking a significant milestone for Bally’s. This integrated platform merges the features of our previous apps, providing players in Ontario with a seamless experience for both sports and casino betting. Our commitment to enhancing the player experience remains at the forefront as we strive to personalize the enjoyment of playing Bally Bet,” said Robeson Reeves, CEO of Bally’s Corporation.

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BCLC

Be #GiftSmart: Scratch the Idea of Gifting Scratch & Win Tickets to Kids

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BCLC reminds adults to gift responsibly this holiday season

With the holiday season in full swing, BCLC is reminding British Columbians to gift responsibly and scratch lottery products from their shopping lists for kids.

“Scratch & Win tickets can make great stocking stuffers for the adults in your life, but they’re not for kids,” said Ryan McCarthy, BCLC’s Director of Player Health. “The research shows that children who have early encounters with gambling are four times more likely to develop riskier gambling behaviour as they grow up. While people are out shopping for those last-minute gifts, BCLC wants adults to be aware of the potential risks associated with gifting lottery products to children and to consider safer alternatives.”

While Scratch & Win tickets are among the most common ways kids can be introduced to gambling, children are increasingly exposed to various online forms, such as gambling streams.

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“With the convergence of gaming and gambling, youth are becoming more exposed to gambling content in online spaces like streaming sites, where creators are able to live-stream their own gambling, usually while playing online slots and instant games,” said Dr. Luke Clark, Director for Gambling Research at UBC. “Our research at the UBC Centre for Gambling shows that a higher frequency of watching online gambling streams is associated with a more positive attitude towards gambling and a high intention to gamble in the future.”

In B.C., it is illegal to sell lottery products to anyone under the age of 19 and BCLC encourages adults to have conversations with the kids in their lives about the risks associated with gambling.

“Open and honest conversations are crucial when it comes to navigating childhood exposure to gambling,” said McCarthy, who shared the following tips to adults:

  • Monitor for gambling-related lifestyle changes. For example, developing a positive attitude towards gambling or a preoccupation with video games or streaming sites.
  • Be a positive role model. Exhibit safer gambling behaviour and talk about the risks.
  • Limit exposure. Monitor kids’ online activities and discourage engagement with gambling content. Explain how gambling is based on chance.
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AGCO

Jackpot Digital Receives Approval from AGCO as a Registered Gaming Supplier

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Jackpot Digital Inc., a leading provider of innovative dealerless electronic poker gaming solutions, has announced that the Alcohol and Gaming Commission of Ontario (AGCO) has approved the Company to be licensed as a registered Gaming Related-Supplier (the “Supplier License”) under the Gaming Control Act in the Province of Ontario.

This significant achievement allows Jackpot Digital to enter one of the most dynamic and rapidly growing regulated gaming markets in North America. The Supplier License authorizes Jackpot Digital to supply its electronic table games to Ontario’s gaming venues, including casinos and other regulated gaming facilities.

Jackpot Digital’s flagship product, the Jackpot Blitz electronic table game system, offers a modern, dealerless, player-friendly solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The Supplier License will enable the Company to offer its innovative gaming solutions to operators throughout Ontario, driving new revenue opportunities and enhancing player experiences.

“Receiving AGCO’s approval is a major milestone. This approval provides us with the opportunity to offer our top-tier electronic gaming systems to operators throughout all of Ontario, positioning us for further growth in one of the world’s most robust gaming markets. We are excited to bring our innovative products to Ontario’s gaming community and continue our commitment to providing exciting, technology-driven entertainment experiences,” said Jake Kalpakian, CEO of Jackpot Digital.

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