The global gambling market will quadruple in the next 10 years – forecast
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The global gambling market in 2022 grew to $449.04 billion by the end of 2022. Active development of the market is expected in the future – according to The Business Research Company, by 2032 the size of the gambling market will grow to $847.54 billion. This is almost four times more than the current figure, writes the League.
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How the market will change
In turn, in the next five years, by 2027, the gambling market, according to researchers, will reach $765.89 billion.
If we talk about gambling sectors, the largest market segment in 2022 was lotteries with a share of 50.9%.
In the segment of bets on sports, or sports betting, researchers predict an average annual growth of 12.6%.
The segment of games in virtual reality will also develop: the market will grow annually. According to the researchers’ forecasts, by 22.3%.
Reasons for positive dynamics
According to the report, the reasons for the rapid positive dynamics were the increase in markets, the number of players and bets on eSports. Researchers predict that the legalization of gambling, the increase in the world’s population and technology will contribute to the development of the market.
Among the main risks that can slow down the dynamics of market development, researchers call data leaks and violations of confidential players due to cyberattacks.
Read: The Cabinet canceled the automatic extension of gambling business licenses until the end of the war
From a geographical point of view, the most dynamic region in the gambling market in 2022 was Asia-Pacific. However, analysts’ forecasts for the future indicate the fastest development of gambling in the coming years in Eastern Europe, where Ukraine also belongs.
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Source: Ministry of Finance
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