Gambling & Betting Market Size, Share, Growth, and Industry Analysis, By Type (Casino,Sports Betting,Poker,Bingo,Lottery,Others), By Application (Online,Offline), Regional Insights and Forecast to 2033

Gambling & Betting Market Overview

The Gambling & Betting Market size was valued at USD 279127.7 million in 2024 and is expected to reach USD 443536.6 million by 2033, growing at a CAGR of 4.7% from 2025 to 2033.

The gambling & betting market has experienced a significant expansion over the last decade, driven by digital adoption, regulatory changes, and increasing player engagement. In 2023, the number of active gamblers globally exceeded 1.6 billion, with more than 580 million participating through digital platforms. The market spans land-based casinos, sports betting terminals, online gaming portals, mobile applications, and government-regulated lotteries.

Lottery draws were the most participated form of gambling, with over 700 million regular participants worldwide. Sports betting drew over 450 million active users, while online poker platforms recorded over 85 million registered accounts by the end of 2023. The industry has grown in diversity and scale, with real-time streaming, cryptocurrency betting, and mobile-first gaming formats reshaping user behavior. More than 47 jurisdictions worldwide have legalized online gambling in some form, reflecting a shift in legislative openness.

Countries such as the United States, the United Kingdom, China, Italy, and Australia remain among the top five gambling & betting markets based on active user count. The market continues to witness aggressive expansion from private operators and state lotteries, targeting both entertainment and taxation benefits. Technological innovation and digital payment integration have played vital roles in reshaping gambling across age groups and income segments.

Key Findings

Top Driver reason: Increased legalization and regulation of online gambling across key markets.

Top Country/Region: The United States recorded the highest gambling participation growth in 2023.

Top Segment: Sports betting dominates the online and mobile-based gambling industry globally.

Gambling & Betting Market Trends

The gambling & betting market is undergoing rapid transformation driven by digitization, mobile penetration, and consumer demand for immersive gaming experiences. In 2023, more than 64% of all gambling transactions were conducted via mobile devices, accounting for over 3.2 billion individual bets placed using smartphones or tablets. Mobile sports betting apps surpassed 1.1 billion downloads globally, with over 280 million monthly active users.

Live or in-play betting has emerged as a dominant trend. In 2023, over 43% of online sports wagers were placed on live games, particularly football, tennis, and basketball. This trend is supported by real-time analytics, live streaming integrations, and dynamic odds engines. Markets such as the UK, Germany, and Brazil saw live betting surpass traditional pre-match bets by over 12% in total volume.

Cryptocurrency-based betting platforms are growing rapidly, with over 25 million global users recorded in 2023. Bitcoin, Ethereum, and Litecoin were the most widely accepted digital currencies for online wagers. Over 140 operators worldwide now support crypto wallets, offering low-fee and anonymous transaction options that appeal to younger, tech-savvy gamblers.

Esports betting has witnessed substantial growth, with over 76 million users placing wagers on competitive video gaming events in 2023. Titles such as Dota 2, League of Legends, and CS:GO collectively generated over 340 million betting transactions during major global tournaments. Esports betting now constitutes over 5.5% of total online sports betting activity.

Gamification and loyalty programs continue to dominate operator strategies. In 2023, over 400 gambling platforms globally deployed loyalty programs offering tier-based incentives, personalized bonuses, and free spins. These programs directly influenced user retention, increasing average monthly engagement time per user by 18%.

Offline venues are integrating technology to enhance the customer experience. Over 3,600 casinos introduced mobile app-based chipless tables, facial recognition security, and interactive slot interfaces in 2023. These digital enhancements aim to compete with the speed and convenience of online platforms.

Gambling & Betting Market Dynamics

DRIVER

Increased legalization and regulation of online gambling across key markets.

Governments across major economies are enacting regulatory frameworks that legalize and monitor online gambling. In 2023, 14 new jurisdictions including some U.S. states, parts of Latin America, and Southeast Asia introduced legislation to permit digital gambling platforms. As a result, over 72 million new online gamblers were registered in regulated environments globally. This trend contributes to increased tax revenue, job creation, and consumer protection. The legal clarity has encouraged global operators to invest in localized platforms, boosting user acquisition and platform diversity.

RESTRAINT

Social stigma and gambling addiction concerns.

Despite its growth, gambling remains a socially sensitive issue in many regions. In 2023, more than 3.5 million individuals globally were registered under self-exclusion programs, while gambling addiction helplines reported over 1.2 million calls. Countries like South Korea, the UAE, and India continue to maintain strict restrictions or outright bans on most gambling forms. These cultural and psychological barriers limit penetration in certain demographics and geographies. Moreover, over 60 advocacy groups in Europe and North America called for stricter regulations on online advertising and betting promotions during sports broadcasts.

OPPORTUNITY

Growth in skill-based gaming and fantasy sports betting.

Fantasy sports and skill-based games offer legal loopholes and consumer appeal in restricted markets. In 2023, fantasy sports platforms recorded over 140 million active users globally. The U.S. alone had more than 67 million active fantasy sports participants, primarily in NFL and NBA leagues. The ability to blend entertainment, statistical analysis, and competitive rewards makes this segment particularly appealing to millennials and Gen Z audiences. Regulatory agencies in Canada and select European markets are creating frameworks to support skill-based and knowledge-driven wagering formats.

CHALLENGE

Fraud, data security, and regulatory compliance costs.

Online gambling platforms face constant challenges from fraud, identity theft, and cyberattacks. In 2023, the industry witnessed over 24,000 fraud-related incidents globally, affecting over 3.8 million user accounts. Phishing attacks, account takeovers, and bonus abuse are among the top threats. Additionally, compliance costs are rising as governments enforce KYC (Know Your Customer), AML (Anti-Money Laundering), and data privacy laws. A mid-sized online gambling operator in the EU spends an estimated $2.5 million annually on compliance infrastructure, limiting market access for new entrants.

Gambling & Betting Market Segmentation

The gambling & betting market is segmented by type and application, based on format and channel of engagement.

By Type

• Casino: Casino gambling includes slots, table games, and electronic gaming machines. In 2023, over 7,800 land-based casinos operated globally, serving over 500 million annual visitors. Online casino platforms recorded over 2.3 billion user sessions worldwide.
• Sports Betting: Sports betting remains the largest segment, with over 450 million active users globally. In 2023, over 78 billion individual bets were placed on sporting events, with football, basketball, horse racing, and cricket among the top categories.
• Poker: Poker attracted over 85 million users globally in 2023. Online poker tournaments saw over 62 million entries, with Texas Hold’em remaining the most popular format. Peer-to-peer poker platforms hosted more than 4.2 million daily matches.
• Bingo: Bingo maintains strong popularity among older demographics. In 2023, more than 60 million players participated globally, with 41% playing via digital platforms. The UK recorded over 11 million online bingo users alone.
• Lottery: Lottery gambling engaged over 700 million people worldwide in 2023. National lotteries from China, the U.S., Brazil, and Japan accounted for 65% of total ticket volume. Over 1.3 trillion lottery tickets were sold globally.
• Others: Other formats include esports, fantasy betting, scratch cards, and arcade gambling. Combined, these attracted more than 180 million users globally in 2023, with significant overlap from mobile-first platforms and niche audiences.

By Application

• Online: Online gambling accounted for over 62% of global gambling transactions in 2023. More than 580 million active users accessed gambling platforms via mobile apps and websites. Sports betting and online casinos dominate digital channels, contributing over 70% of total online wagers.
• Offline: Offline gambling remains strong in developed and tourist-heavy markets. In 2023, over 3.6 billion individual gambling visits were recorded across land-based casinos, betting shops, and lottery terminals. Retail locations continue to drive significant engagement in countries such as Italy, China, and Australia.

Gambling & Betting Market Regional Outlook

• North America

is a rapidly expanding region for gambling and betting, primarily due to the progressive legalization across various U.S. states. In 2023, over 39 states in the U.S. allowed some form of legal gambling, contributing to more than 220 million registered users. Sports betting alone accounted for more than 1.2 billion wagers in the U.S., supported by strong growth in digital platforms and fantasy sports. Canada also expanded its legal framework for single-event sports betting, adding over 3.4 million new users in 2023. Retail casinos in Las Vegas, Atlantic City, and Ontario reported over 68 million footfalls during the year.

• Europe

remains a mature and regulated gambling market with strong consumer engagement and operator diversity. In 2023, over 320 million Europeans participated in gambling activities, with more than 200 million using online platforms. The UK alone registered over 35 million active online gambling accounts. Germany, Italy, France, and Spain also reported high lottery and sports betting participation. Over 2,400 regulated gambling operators were active in Europe, ensuring consumer protection under strong frameworks such as the Gambling Commission and regulatory standards like AMLD5 and GDPR compliance.

• Asia-Pacific

presents a mix of regulatory environments, but it remains the largest region by user base. In 2023, over 640 million users from the region engaged in gambling or betting activities. China’s state-run lotteries alone drew over 250 million regular participants. Macao continued to be a major casino hub, attracting more than 27 million visitors in 2023. India and the Philippines are experiencing rapid online betting growth, with more than 45 million active app-based users across the two countries. Japan and South Korea are heavily investing in legal frameworks for online sports and casino gambling.

•  Middle East & Africa

region remains highly regulated but is showing signs of transition. In 2023, over 85 million people engaged in some form of gambling across the region. South Africa reported over 19 million active gamblers, primarily through lottery and horse race betting. The UAE and Saudi Arabia maintain strict bans, although interest in fantasy sports and esports betting is increasing. Nigeria and Kenya are emerging as mobile-first betting hubs, with over 15 million combined users participating through SMS-based and mobile app platforms.

List of Top Gambling & Betting Companies

• Las Vegas Sands
• MGM Resorts
• Caesars Entertainment
• Galaxy Entertainment
• Wynn Resorts
• Melco Resorts & Entertainment
• Penn National Gaming
• SJM Holdings
• Boyd Gaming
• Genting Group
• Crown Resorts
• GVC Holding
• bet365
• Flutter Entertainment
• William Hill
• Kindred Group
• 888 Holdings
• Betsson AB
• Entain plc

Top Two Companies with the Highest Share

Flutter Entertainment:  held the largest global share in 2023 with over 140 million monthly active users across platforms such as Betfair and FanDuel, conducting over 1.3 billion wagers.

bet365:  ranked second with more than 120 million active users globally, offering services in 24 languages and processing over 1.1 billion betting slips in 2023 alone.

Investment Analysis and Opportunities

Investments in the gambling & betting market surged in 2023, with more than $5.7 billion allocated globally across acquisitions, platform upgrades, and technology expansion. Over 30 major investment deals were completed, with emphasis on digital transformation, regional expansion, and compliance upgrades. The U.S. attracted the highest volume of investment, with more than 22 operators expanding into newly legalized states such as Kentucky, North Carolina, and Vermont.

Asian operators such as Galaxy Entertainment and SJM Holdings initiated new projects totaling over 3.8 million square feet in gaming space in Macao, with estimated capacity to accommodate 20 million annual visitors. These investments are tied to tourism recovery and cross-border gambling demand from China and Southeast Asia. In India, more than 20 domestic fantasy sports platforms raised investment rounds in 2023, totaling over $620 million.

Cryptocurrency-based gambling platforms saw an influx of capital, especially in jurisdictions with lenient crypto regulations. In 2023, over $840 million was raised by blockchain-based betting platforms globally, with developers focusing on smart contract-based payout systems and decentralized betting ledgers. These platforms attracted more than 15 million new users during the year.

AI-driven predictive analytics and betting tools are another investment hotspot. Over 65 online gambling operators launched AI-backed systems in 2023, optimizing odds management, fraud detection, and personalized promotions. Investments in these areas exceeded $470 million across Europe and North America.

Opportunity is rising in cross-platform integration—linking land-based operations with digital interfaces. Over 900 casinos worldwide are investing in omnichannel solutions that connect in-person loyalty programs with mobile apps. This allows users to earn and redeem points across platforms, enhancing customer retention. In 2023, such integrations increased repeat engagement by 24% on average.

Government lotteries are also undergoing digital transformation. More than 16 national lottery commissions implemented e-ticketing and mobile-based draws in 2023, attracting over 45 million digital lottery players. This shift improves transparency, access, and real-time reporting.

New Product Development

Innovation is central to the growth of the gambling & betting market, with operators focusing on digital-first experiences and user-centric design. In 2023, over 200 new online betting products were launched globally, including crypto-compatible games, augmented reality (AR) slots, and live-streaming betting interfaces.

Flutter Entertainment introduced “Live Arena” in 2023, a real-time interactive betting suite that includes AI-generated insights, social betting rooms, and multi-event betting windows. Within its first six months, Live Arena registered over 8.2 million global users.

bet365 rolled out “BetBuilder Pro,” allowing users to create complex multi-outcome sports bets with dynamic odds. The platform saw over 360 million transactions in 2023 under this feature. It now supports over 40 sports and 2,500 leagues globally.

Casinos integrated touchless technologies and AI-enhanced games. MGM Resorts deployed over 3,200 AI-based facial recognition systems across U.S. properties in 2023, enhancing both security and personalized offers. Additionally, more than 1,800 new electronic table games with AI dealers were installed globally.

Gamification has also influenced new product launches. William Hill introduced “QuestBet” in 2023, a game-style interface allowing users to unlock betting challenges for rewards. The feature boosted average session time by 22% in test markets including Ireland and Sweden.

Blockchain innovations include BetU’s “Decentralized Bet Pools,” where players place bets in smart contract-governed pools. In 2023, over 6.1 million bets were placed using this format. New platforms also introduced NFT-based loyalty programs, where users earn tradable digital tokens tied to betting milestones.

Voice-based betting was introduced in Q4 2023 by Kindred Group, with over 400,000 users accessing betting functions through smart home assistants. This feature is gaining popularity in accessibility-focused designs.

Five Recent Developments

• Flutter Entertainment acquired a controlling stake in an African sports betting platform in February 2024, expanding user access to over 14 new countries.
• bet365 launched its cryptocurrency payment system across 10 new jurisdictions in Q3 2023, processing more than 45 million crypto-based transactions within six months.
• MGM Resorts partnered with a leading AI company in July 2023 to deploy predictive behavioral analytics across 28 U.S. properties.
• Entain plc opened a tech hub in Hyderabad, India in October 2023 with over 700 engineers focused on AR and mobile gaming platforms.
• William Hill introduced its live NFT-based loyalty platform in January 2024, engaging over 1.1 million users within the first 90 days.

Report Coverage of Gambling & Betting Market

This report on the gambling & betting market provides comprehensive analysis of global activity across digital and physical gambling formats. It covers all major types including sports betting, casino gaming, poker, bingo, lottery, esports, and fantasy sports. The study evaluates platform usage across mobile, desktop, and offline channels, offering volume data across over 70 countries.

The report presents a detailed examination of key drivers such as legalization, mobile adoption, digital payment integration, and user engagement technologies. It also investigates restraints such as addiction risks, advertising restrictions, and regulatory fragmentation. Global and regional market dynamics are supported by facts, transaction volume, and user base data across North America, Europe, Asia-Pacific, and the Middle East & Africa.

Company profiles cover 19 major players across online and offline segments. Each profile includes data on active users, platform reach, recent innovations, and investment activity. The report also explores competitive benchmarks such as market penetration, product launches, and user retention rates.

Emerging trends like crypto betting, AR/VR gaming, and AI-powered personalization are covered in depth, along with technological investments and infrastructure upgrades. Recent developments, acquisitions, and licensing movements from 2023 to 2024 are detailed with transaction data and performance impact.

Finally, the report provides strategic insights for stakeholders including regulators, operators, investors, and developers. It outlines compliance requirements, monetization strategies, regional entry considerations, and future growth opportunities.

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