Get the latest insights into the ever-growing global online gambling market. Learn about its current and future trends, find out who the leading players are, and see what countries are making the most money from it.
Gambling market an industry with growth potential of 10% until 2027
The global online gambling market had a valuation of 65,316 million dollars in 2020 and is expected to register a compound annual growth rate (CAGR) of 9.23% during the forecast period (2021-2026), according to a report by MarketsandMarkets.
The report states that the major drivers for the growth of the online gambling market are the increasing adoption of smartphones and internet penetration. The report also says that the Asia-Pacific and Latin American regions are expected to grow at the highest CAGR during the forecast period.
The online gambling market is segmented by type, end-user, and geography. By type, the market is divided into sports betting, casino games, poker games, bingo games, and lottery.
By end-user, there are the casual gamblers and the pros. And concerning regions, we can find significant differences between bettors from the USA and those from Europe, Latin America, and Asia.
The betting market is expected to reach $128.154 million in the next five years. This is the perfect time to start a betting business. With the proper planning and execution, your business can be successful and profitable right from the start.
The current situation of the betting market
The American Gaming Association (AGA) reports that in 2018, around 2,800 online gaming sites were active. These sites offer games and activities such as poker, lotteries, and betting on sports events. The AGA says that the online gaming industry has grown at rates of 10 to 35% in recent years and expects this growth to continue.
This growth is partly due to the increasing popularity of online gaming among people of all ages. According to the AGA, the average online gamer is 35 years old and has an annual income of $75,000. The association says that online gaming is a popular pastime for people looking for a way to relax and have fun.
According to Zion Market Research, betting will grow the most in Asia Pacific and Latin America. The report projects that the growth in these regions will be driven by several factors, including the increasing popularity of sports betting, the expansion of online gambling, and the liberalization of gambling laws.
In Asia Pacific, the report projects that China will be the biggest growth driver, followed by India and Japan. Brazil is expected to be the most significant contributor to growth in Latin America, followed by Mexico and Argentina.
The report also notes that Africa is expected to see significant growth in betting over the next five years. This is mainly due to the increasing popularity of mobile gambling and the growing number of countries in which gambling is legal.
Do not miss the chance to enter the betting industry.
When starting a betting business, it would be best to keep a few things in mind. First, you need to have a solid business plan. This includes knowing your target market, your products or services, and how you generate revenue.
Secondly, you must obtain the proper licenses and permits from your local government. Without these, your business will not be able to operate legally.
Finally, it would help if you created a strong marketing plan to attract customers and grow your business.
Luckily, there is an easier way to start a betting business. Hiring a Pay Per Head provider that gives you everything you need in software and support can be up and running quickly and easily.
A Pay Per Head provider will give you a custom website, online betting software, lines and odds, customer service, and more. All you need to do is find the right provider and sign up.
You can get your business in less than 24 hours with a Pay Per Head provider. There is no need to worry about any of the technical aspects of starting a betting business. Just find a reputable Pay Per Head provider and sign up.
VIP Per Head is a provider tailored to your needs
VIP Per Head is a provider of bookie solutions that fits the needs of businesses of all sizes and gives them the competitiveness they need.
Businesses who sign up with VIP Per Head can choose from various services to help them run their business smoothly.
Some of the services that VIP Per Head offers include: pay per head, line management, risk management, and customer service.
All of these services are designed to give businesses the edge they need to compete in the online gambling industry.
VIP Per Head has been in business for over 15 years and has a proven track record of success.
Businesses who sign up with VIP Per Head can be assured that they are getting the best possible service available.
If you are passionate about sports and gambling, starting a betting business is the perfect opportunity.
Take advantage of the opportunities that the global online gambling market is providing. You can create your own sports betting business at a low cost.