Gambling is the hazarding of money or something of value on an event with an uncertain result, with key intent of winning material goods or money. It requires three elements risk (chance), consideration, and a prize. A gaming company provides gambling activities to the public & may be regulated by one of many gaming control boards like the Nevada Gaming Control Board.
According to study, “Worldwide Gambling Market – By Types (Digital, Offline), By Product (Casino, Lotteries, Poker, Betting), By Regions – Drivers, Opportunities, Trends, and Forecasts, 2016-2022” the major companies currently operating in the worldwide gambling market are Las Vegas Sands Corp., Paddy Power PLC, MGM Resorts International, William Hill Plc, The Star Group, Bet365, SJM Holdings Ltd., Caesars Entertainment Corp., Galaxy Entertainment Group Ltd. Moreover, some other prominent players include Betway, AsianLogic, Betfred Group, Betsson, Betsafe, Bet-at-Home, Camelot Group, Bwin, Casino Cosmopol, Casinoeuro, Caesars Interactive Entertainment, Casinostugan, Comeon, Casumo, Expekt, Gametwist, Folkeautomaten, Genting Berhad, Interwetten, GVC Holdings, Jackpotjoy, Leovegas, Kindred, Mr. Green, Mobilbet, Mybet, Nordicbet, Norsk Tipping, Norgesautomaten, OnlineCasino Deutschland, Playtech, Pinnacle, Rank Group, Sky bet, SJM Holdings Limited, Stargames, Sportech, Sunmaker, Svenska Spel, Vera&john, Tipico, Win2Day, 1xbet, Wynn Resorts, 888 Group.
Based on the platform type, worldwide gambling market is segmented into land-based or offline and online platform. Online platform includes mobile and desktop. Based on the product type, the market is separated into virtual sports, fixed odds betting, casino games, non-casino games, arbitrage betting and other types of betting. Fixed odds betting market include sports betting and pari-mutuel betting. Casino games include electronic gaming, table games and other gaming (keno & bingo). Electronic gaming market is further sub-segmented into video poker, pachinko, video bingo and slot machine. Non-casino games are carnival games, confidence tricks, card games, coin tossing and dice-based games.
The worldwide gambling market is primarily driven by the increase in investments from the entertainment industry followed by increased device capability & confidence of users, rise of mobile gambling, rising number of live casinos, increasing per capita income, growing interest, high adoption, increasing smart-phone & tablet penetration, rise in number of dual-income households and government support for the legal gambling. These live casinos have the occurrence of live dealers & run like a real offline or land-based casino. Apart from benefits, the key restraint includes illegal gambling affecting the total market revenue, followed by government regulations. Additionally, some of the opportunities include software providers and legalization of gambling in ME.
The gambling market is full of ups & downs and considered to be as leisure for entertainment in the Europe & U.S. In addition, it is being considered wrong in some countries of Asia Pacific and MEA countries. Thus, gambling revenue extremely depends on the tourism & religious factors. The market is likely to grow further in the emergent regions of Asia owing to involvement of government to make all as legal and increasing tourist destination. The gambling industry is expanding all around the world as a result of government efforts to enhance the tax earnings & attract a number of tourists. It is probable that this market to reach by US $635 billion, by 2022.
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