Dublin, Oct. 02, 2024 (GLOBE NEWSWIRE) — The “North America Online Gambling Market by Country, Competition, Forecast and Opportunities, 2019-2029F” report has been added to ResearchAndMarkets.com’s offering.
The North America Online Gambling Market was valued at USD 13.36 billion in 2023, and is expected to reach USD 27.49 billion by 2029, rising at a CAGR of 12.61%.
The North American online gambling market has witnessed significant growth and transformation in recent years, driven by evolving consumer preferences, technological advancements, and shifting regulatory landscapes. As of 2024, the market is characterized by a burgeoning demand for diverse online gambling options, including sports betting, casino games, poker, and lottery services. The liberalization of gambling regulations, particularly in the United States, has been a pivotal factor in this growth. Numerous states have legalized online sports betting and casino gambling, contributing to a surge in market activity and investment.
In the United States, the market’s expansion has been fueled by the Supreme Court’s 2018 decision to strike down the federal ban on sports betting, leading to a rapid proliferation of state-level legalizations. This has created a competitive environment among operators, with major players like DraftKings, FanDuel, and BetMGM establishing a strong foothold. These companies leverage advanced technologies, including mobile apps and online platforms, to capture a substantial share of the market, catering to a diverse demographic of users.
Canada, too, has seen considerable market activity, with provinces like Ontario opening regulated online gambling markets. Canadian players benefit from a range of offerings, from online casinos to sports betting platforms, provided by both local and international operators. This has fostered a competitive landscape, encouraging innovation and enhanced service offerings.
Technological advancements, such as the rise of mobile gaming and the integration of artificial intelligence for personalized experiences, are reshaping the market. Mobile platforms, in particular, have become increasingly popular, allowing users to engage in gambling activities on-the-go. Additionally, the use of blockchain technology and cryptocurrencies is beginning to influence the market, providing new avenues for transactions and security.
Despite the market’s robust growth, challenges remain, including regulatory uncertainties and responsible gambling concerns. Operators must navigate a complex and evolving regulatory environment while addressing issues related to player protection and addiction prevention. Overall, the North American online gambling market is poised for continued expansion, driven by regulatory developments, technological innovations, and a growing consumer base seeking diverse and accessible gambling experiences.
Key Market Drivers
- Regulatory Changes and Legalization
- Technological Advancements
- Increased Consumer Acceptance
- Innovative Marketing and Promotional Strategies
Key Market Challenges
- Regulatory Complexity and Variability
- Responsible Gambling and Problem Gambling
- Cybersecurity Threats
- Market Saturation and Competition
- Technological Disruptions
Key Market Trends
- Expansion of Legalization and Regulation
- Growth of Mobile Gambling
- Integration of Artificial Intelligence and Data Analytics
Country Insights
United States dominated the North America Online Gambling market in 2023, due to a combination of regulatory advancements, substantial market size, and significant investment from major operators. The pivotal factor driving this dominance is the 2018 Supreme Court decision that overturned the federal ban on sports betting, allowing individual states to legalize and regulate sports gambling. This landmark ruling has led to a rapid and widespread legalization of online sports betting across numerous states, significantly expanding the market’s scope and scale.
The regulatory environment in the U.S. has been highly conducive to the growth of online gambling. States such as New Jersey, Pennsylvania, and Michigan have been at the forefront of legalizing and regulating online gambling, creating a competitive and lucrative market for operators. This has led to a proliferation of legal online gambling options, including sports betting, online casinos, and poker, attracting substantial investment from both domestic and international operators. Major companies like DraftKings, FanDuel, and BetMGM have established strong footholds in the U.S. market, leveraging their extensive resources and technological capabilities to capture significant market share.
The large and diverse consumer base in the U.S. also contributes to its dominance in the online gambling market. The high level of sports popularity and the growing acceptance of online gambling as a mainstream entertainment option drive substantial betting volumes. Additionally, the integration of advanced technologies, such as mobile apps and live betting features, enhances user experience and engagement, further fueling market growth.
Key market players profiled in the report include:
- Flutter Entertainment PLC
- Draftkings Inc.
- Caesars Entertainment, Inc.
- MGM Resorts International
- Entain PLC
- William Hill PLC
- Kindred Group PLC
- BET365 Group Limited
- evoke PLC
- Super Group (SGHC) Limited
- Scientific Games, LLC
- NetEnt AB
Report Scope
In this report, the North America Online Gambling Market has been segmented into the following categories:
By Type of Gambling:
- Sports Betting
- Casino Games
- Poker
- Lottery
- Others
By Platform:
By End-User:
- Individual Players
- Operators
By Country:
- United States
- Canada
- Mexico
Key Attributes
| Report Attribute | Details |
| No. of Pages | 134 |
| Forecast Period | 2023-2029 |
| Estimated Market Value (USD) in 2023 | $13.36 Billion |
| Forecasted Market Value (USD) by 2029 | $27.49 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | North America |
For more information about this report visit https://www.researchandmarkets.com/r/np1rm9
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Read More: Online Gambling Market in North America Forecast to Reach