Payment solutions are now more accessible to consumers and online players, as mobile and online payment platforms gain wider acceptance. The online gaming industry increasingly accepts digital payments as a safe and reliable method. You can also use it when playing HellSpin. This development is significantly driving the growth of the online gaming market. The online sports category, particularly betting on football events like the FIFA World Cup and UEFA European Championship, is a major contributor to this growth. As part of their marketing strategies, many online sports betting companies sponsor teams or expand tactically by acquiring or merging with other firms.
For instance, in August 2021, DraftKings Inc. and Golden Nugget Online Gaming Inc. signed a binding agreement under which DraftKings acquired Golden Nugget Online Gaming in an all-stock deal. The acquisition enabled DraftKings to benefit from Golden Nugget’s established customer base of over 5 million and its well-known iGaming brand experience. Such developments create tremendous market growth potential.
Regional Analysis
By region, the global online gambling market is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Europe holds the largest market share and is expected to grow at an average annual rate of 12% during the forecast period. This growth is driven by the legalization of gambling in several European countries, including Italy, Malta, France, Spain, and Germany. Other contributing factors include access to high-speed internet, growing interest in online casinos, and increased smartphone usage. Moreover, the UK Gambling Commission (UKGC), through the Gambling Act 2005, allows operators to advertise their online gambling platforms—further boosting market expansion in the region.
The Asia-Pacific market is projected to reach USD 50 billion by 2030, growing at an impressive 12.8% CAGR. Growth in this region is due to greater use of internet services and the relaxation of online gaming and betting regulations. The rising popularity of e-sports and other sporting events has also fueled market momentum. Countries like India and China are emerging players thanks to advances in gaming technologies, widespread access to high-speed networks, and affordable internet data. Additionally, the use of cryptocurrencies in gaming—spurred by the popularity of Bitcoin—continues to rise. Strong economic growth and increasing discretionary spending are also expected to drive market development.
North America is the third-largest region in the online gambling market. Under current U.S. legislation, only bookmakers licensed in Nevada, Pennsylvania, or New Jersey can operate legally, as these are the only three states with established online gambling regulations. Pennsylvania is the largest regulated market, while New Jersey is known for hosting numerous online casinos, sportsbooks, and betting apps. The Division of Gaming Enforcement in New Jersey oversees licensing, tax collection, and game testing. As a result, New Jersey stands out as the leading U.S. market for legalized online gambling.
In Canada, online gambling remains largely unregulated. Meanwhile, Mexico is currently revising its gambling laws to better align with the broader gaming industry. As online gambling becomes more mainstream across North America, the regional market is expected to grow steadily.