Although online gambling has always played an important role in the global gambling industry, the growth of online gambling is now expected to be much higher than in the land-based casino industry.
The global gaming industry has been hit hard by the COVID-19 pandemic. In the United States, the world’s largest gambling market, several states have ordered the temporary closure of land-based casinos. Other countries have ordered casinos to close to prevent the spread of the virus. The closure of casinos and sports betting will have a huge impact on the industry. However, online gambling providers like BetWinner offer their services and are enjoying good fortune even during this global health crisis. In fact, many online gambling sites have reported higher engagement rates than before.
Gambling shares on global stock markets have also fallen clearly. As a result, many gambling companies such as VGC Holding, William Hill, and The Stars Group have issued statements concerning the potential impact of the pandemic on their casino activities.
While casinos and gambling hubs moved from Las Vegas and Atlantic City to Macau in the last decade, there is no doubt that the gambling industry became a hit throughout the pandemic and will likely impact the industry’s performance over the next decade.
Based on the industry overview, the Research and Markets report hypothesizes the growth of the global casino and gambling industry through industry value analysis, looking at industry segmentation by category and regions, and analyzing the regulatory framework. The impact of the COVID-19 pandemic on the global casinos and gambling industry is also being studied.
The report includes a strategic analysis of Porter’s five forces concerning the global casino and gambling industry. Research and Markets with Porter’s tool analyze the sector based on the market power of buyers and suppliers, competition in the sector, threats from new entrants, and threats from industry substitution.
Analysis of the major regions of the global casino and gambling industry was conducted in Europe, Asia Pacific, North America, and South America. Markets in this area are analyzed using industry statistics, industrial growth analysis based on value, industry segmentation, and industry forecasts.
The global gambling market is expected to reach revenues of more than $525 billion by 2023 and grow at a CAGR of around 4% in 2017-2023.