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Online Gambling and Betting Market Expected to Explode, Will Reach $128.2 Billion by 2026

Online Gambling and betting (Source: Casino Magic) The industry is set to ascend to new heights, according to a recent report by Transparency Market Research. The firm, which specializes in analytics and research for Fortune 500 companies, predicts that the global online betting and gambling market will grow at a compound annual growth rate (CAGR) of 11.8 percent between now and 2026. At that pace, the online gambling and betting market is expected to hit a value of USD $128.2 billion. The firm’s research included all online games, from poker to casino games, as well as the more fledging markets of daily fantasy sports (DFS) and sports betting. And those industries are predicted to power much of the coming gains in the years ahead. The report asserts that a fast-changing global landscape is the biggest factor fueling growth in the gaming sector. “Relaxation of laws for online gambling & betting across the globe provides new opportunities for internet based gambling & betting operating players to generate revenue,” reads the report. The biggest “relaxation” in gaming laws came this spring, as the US Supreme Court struck down PASPA, which had banned all states outside of Nevada from offering sports betting. Other factors will also play a role in the rise of gaming revenues, including an increase in consumers’ disposable income, more trust being placed in online operators, as well as a rise in mobile gaming. That mobile segment alone is forecasted to expand at a CAGR of 16 percent.

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