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Online Gambling Market in Europe Online Gambling Market in Europe Prefer Online Gambling to Offline Gambling in Response
DUBLIN, February 29, 2024 (GLOBE NEWSWIRE) — The “Europe Online Gambling – Market Share Analysis, Industry Trends and Statistics, Growth Forecasts 2019-2029” report has been added. ResearchAndMarkets.com Recruitment.
Europe online gambling market size is estimated to be USD 52.3 billion in 2024 and is projected to reach USD 88.16 billion by 2029, at a CAGR of 11.01% during the forecast period (2024-2029). grow in
Casino gambling is one of the fastest growing gambling categories due to its convenience and optimal user experience. With the advent of technology, virtual reality, blockchain and mobile platforms are gaining popularity in the gambling industry across Europe. Due to this factor, vendors are turning to software suppliers such as NetEntand Evolution Gaming to integrate and develop gaming experiences for their consumers.
The transition from offline gambling to online gambling has necessarily been accompanied by an increase in the revenues associated with online gambling. Advances in hardware and software innovations, growing popularity of casino and sports betting gambling, and strengthening internet penetration are expected to drive the growth of the European online gambling market. Dominant players have been focusing on mergers over the past few years to increase market share and improve profit margins.
Blockchain, IoT, and VR are changing the field of online gambling. Virtual reality and VR headsets are very popular these days and are an innovative addition to online gambling.
Trends in the European online gambling market
Improved internet connectivity and streaming technology
Draw-based and scratch-off instant games are becoming increasingly popular, especially in European countries, which may positively impact the growth of the studied market. The popularity of online gambling has increased around the world due to innovation, deregulation in key countries, and the pandemic.
In Europe, attitudes towards gambling are hardening. However, in Europe, internet gambling is considered a regulated industry. In France, there are still many restrictions on internet gaming, and he may be among the 13% who think the laws are too strict, while fewer people in the UK and Italy would agree with that idea. However, according to the International Gambling Report 2021, 63% of gamblers around the world currently prefer online gambling to offline gambling. This preference is mainly driven by lottery and sports betting among those who have participated in online gambling within the past 12 months (his 17% of global respondents).
Countries such as the United Kingdom and Italy appear to be leading the market as they appear to be increasingly accepting online gambling as a leisure pastime.
UK leads the market
Sports betting in the UK is provided by the private sector and takes place within a competitive market. Online gambling is legal in this country and regulated by the Gambling Commission, which was established by the Gambling Act 2005. Online poker, sports betting, casino games, bingo, and lottery-style games all fall under the jurisdiction of the Gambling Commission. In 2021 he said that according to data published by Ofcom (British Department for Communications), 6% of users aged 25-34 and 45-54 participated in online gambling at least once every three months. doing. The second highest age group was 16-24 years old, accounting for 4%. Rizk Casino, 888 Holdings, Casumo Casino, bet365 and LeoVegas are prominent players active in the UK online gambling market.
Overview of the European online gambling industry
Major players in the European online gambling market include Bet365, 888 Holdings PLC, GVC Holdings PLC, Kindred Group PLC, Entain PLC (William Hill PLC), Betsson AB, and others. Many online gambling companies rely on third-party providers such as Playtech for their software solutions. However, some companies choose to integrate backwards with technology providers. For example, 888poker is primarily supplier independent and invests heavily in the development of software and online gaming technology. Similarly, British bookmaker William Hill focused on backward integration and acquired software development company Grand Parade. New players are entering the market as the market is highly fragmented and there are huge opportunities in the coming years.
Main topics covered:
1.First of all
2 Research method
3 Executive summary
4 Market dynamics
4.1 Market drivers
4.2 Market constraints
4.3 Porter’s Five Forces Analysis
5 Market segmentation
5.1 Game types
5.1.1 Sports Betting
5.1.1.1 Soccer
5.1.1.2 Horse racing
5.1.1.3 Esports
5.1.1.4 Other game types
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Baccarat
5.1.2.3 Blackjack
5.1.2.4 Poker
5.1.2.5 Slot
5.1.2.6 Other casino games
5.1.3 Lottery
5.1.4 Bingo
5.2 End use
5.2.1 Desktop
5.2.2 Mobile
5.3 Geography
6 Competitive environment
6.1 Most adopted strategies
6.2 Market share analysis
6.3 Company Profile
7 Market opportunities and future trends
For more information about this report, please visit https://www.researchandmarkets.com/r/sfic31.
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