LONDON–(BUSINESS WIRE)–The global online gambling market is expected to post a CAGR of close to 11% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
Consumers are increasingly using freemium business model because it allows them to try the product with free or limited features for a specific duration before making the purchase. Under this model, vendors offer consumers free coins when they first join the game. Once the coins are exhausted, users can choose to buy more coins to continue playing the game, try other games or exit. This flexibility helps vendors to attract new users. These factors will propel the online gambling market growth during the forecast period 2018-2022.
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As per Technavio, the introduction of bitcoin gambling, will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Online Gambling Market: Introduction of Bitcoin Gambling
Peer-to-peer payments on the Internet are encouraged by bitcoin, a cryptocurrency. Bitcoins are also increasingly being used as currency in online gambling business due to the advantages offered by cryptocurrency over normal currency. They can be used for cross-border transactions since the fee involved with comparatively lower. Furthermore, bitcoin transactions are also secure and much faster. Vendors like Bitcasino.io, Slots.lv, Ignition, and Bovada are offering bitcoin gambling which is expected to boost the online gambling market growth during the forecast period.
“The significant contribution of the gambling industry to the economy and the rising need for mobile gambling are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Online Gambling Market: Segmentation Analysis
This market research report segments the global online gambling market by type (casino, betting, and lottery), end-user (desktop and mobile), and geographical regions (APAC, Americas, and EMEA).
The APAC region will witness the highest incremental growth during the forecast period. This is due to the launch of new casinos, lottery events, and liberalization in regulations in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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