Online Gambling Market to Reach USD 208.6 Billion by 2029: Report

The online gambling market is projected to grow by USD 208.6 billion from 2024-2029 with a CAGR of 12.4%, driven by factors such as digital adoption, sponsorships, and partnerships. The market is segmented by device, product, component, and geographical landscape. Key players include 1XBet, 888 Holdings Plc, Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, and others. The report provides a comprehensive analysis of market size, trends, segmentation, opportunities, and vendor analysis.

The online gambling market is poised for substantial growth, with forecasts suggesting an increase of USD 208.6 billion between 2024 and 2029, driven by a compound annual growth rate (CAGR) of 12.4% [1]. This growth is fueled by key factors such as the increasing adoption of digital technologies, a rise in sponsorships, convenient payment options, and a surge in partnerships aimed at launching new games. Innovations like live betting, virtual reality (VR), and augmented reality (AR) experiences are significant contributors to market expansion.

The market is segmented by device, product, component, and geographical landscape. By device, the market is divided into desktop and mobile segments. By product, it includes lottery, betting, and casino segments. By component, the market is segmented into software and services. Geographically, the market is segmented into North America, APAC, Europe, South America, the Middle East, and Africa [1].

Key players in the online gambling market include 1XBet, 888 Holdings Plc, Bet365 Group Ltd., Betfred Group, BetOnline, Betsson AB, Churchill Downs Inc., Entain Plc, Flutter Entertainment Plc, and others. These companies are profiled in a comprehensive report that aims to enhance client market positioning and aid strategic planning [1].

The report provides an in-depth analysis of market size, trends, segmentation, opportunities, and vendor analysis. It covers the market's current trends, driving factors, and broader market environment. Key drivers include the increasing adoption of digital technologies, a rise in sponsorships, convenient payment options, and a surge in partnerships aimed at launching new games. Innovations such as live betting, VR, and AR experiences are identified as significant contributors to market growth. Additionally, the increasing adoption of AI in online gambling, along with the integration of cryptocurrencies and blockchain technology in transactions, is expected to catalyze demand [1].

The report also highlights market challenges, such as regulatory hurdles and the need for robust cybersecurity measures. These challenges are expected to impact market growth and require strategic planning to capitalize on upcoming growth opportunities [1].

The online gambling market is a dynamic and rapidly evolving sector, with significant growth potential. Investors and financial professionals should closely monitor this market for potential investment opportunities and strategic insights.

References:
[1] https://www.globenewswire.com/news-release/2025/08/19/3135481/28124/en/Online-Gambling-Market-Report-and-Company-Analysis-2025-2029-with-Profiles-of-1XBet-888-Holdings-Bet365-Group-Betfred-BetOnline-Betsson-Churchill-Downs-Entain-Flutter-Entertainment.html
[2] https://finance.yahoo.com/news/online-gambling-market-report-company-082900797.html
[3] https://www.mordorintelligence.com/industry-reports/online-gambling-market