Online Gambling and Betting Market Driven by Rising Number of Smartphone Users Globally

The global market for online gambling and betting has been analyzed in a recent market research report by Transparency Market Research. The report is titled “Online Gambling and Betting Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020.” The report gives a thorough overview of the present state of the market and forecasts growth prospects of the key elements of the market between 2014 and 2020.

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The rising popularity of online gambling and betting practices is rapidly transforming the overall dynamics of the global gambling industry. Consumers are shifting to the Internet to gamble and bet on sports or play cards. With the rising preference for online gambling and betting practices, the global online gambling and betting market has witnessed rapid expansion across the globe in the past few years.The expanding network of broadband services, along with the rising number of users of mobile phones and tablets, has collectively led to widespread reach and accessibility of online gambling and betting portals, leading to significant growth of the market.

Moreover, the rising consumer confidence regarding low-cost online payment mechanisms has also led to remarkable development of the market in the past few years. Though casinos and brick-and-mortal lottery centers dominate the global gambling industry, the online gambling and betting market is expected to expand at a favorable pace over the report’s forecast period.One of the most prominent trends in the global online gambling and betting market is the rising popularity of social media and mobile gambling practices. As the number of smartphone users rises at a rapid pace on the global front, online gambling and betting companies are increasingly making attempts to target this group of consumers by virtue of mobile apps and other innovative marketing strategies designed especially for smartphone users.

The global online gambling and betting market has been segmented into online poker, sports betting, online lottery, and casino games such as online bingo and slot machines.

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The global market for online gambling and betting is projected to witness the fastest growth in Asia Pacific over the report’s forecast period, primarily owing to the leading position of Australia in terms of per-person expenditure on gambling and online sports betting. Japan is another lucrative market for online gambling and betting. Japan has a government-regulated online betting website that runs in coordination with the national lottery operator of the country.The report also gives a thorough account of the competitive landscape of the global online gambling and betting market, wherein detailed business profiles, recent developments, finance-related details, revenues, SWOT analysis, and other details pertaining to some of the major vendors in the market are discussed.Major companies in the global online gambling and betting market discussed in the report include 888 Holdings, Ladbrokes, Paddy Power, Betfair Group, PokerStars, William Hill Online, and Bwin Party.