iGaming Market Forecasted to Hit $158B by 2028
A recent business research report by Fortune Business Insights (FBI) the online gaming market to be worth over $158 billion by 2028, with Europe as a leader in the market share. The global pandemic and the subsequent government-led lock downs have affected the traditional land-based gambling market and resulted into a massive shift of players into online gambling.
As per the FBI’s report, “[An] article published by New York University revealed that digital gambling platforms have gained speedy momentum in Canada after the coronavirus broke out. In Australia, according to a report by Concordia University, Canada, spending on online casinos rose sharply by 67% in April 2020. The coronavirus pandemic has, thus, proved favorable for this market, enabling it to register a healthy CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.”
Among all continents, Europe has a competitive advantage due to the innovative technologies in online gambling which fuels a continuous market growth. In addition to the high standards in online gambling software and hardware technologies, Europe is a leading region when it comes to the online gambling sports, followed by North America.
The Fortune Business Insights (FBI) adds that one of the key factors to Europe’s domination are the sports enthusiasts investing large amounts into sponsoring online sports betting. The key players in the European market were highlighted as:
- Slots Heaven Casino (Slots Heaven Casino)
- Sky Betting & Gaming (Leeds, United Kingdom)
- Betfred (Warrington, United Kingdom)
- LeoVegas AB (Stockholm, Sweden)
- Betsson AB (Stockholm, Sweden)
- Kindred Group Plc. (Valletta, Malta)
- Mansion Casino (Gibraltar)
- bet-at-home.com AG (Germany)
- 888 Holdings PLC (Gibraltar)
- Bet365 (Stoke-on-Trent, United Kingdom)
- Flutter Entertainment Plc. (Dublin, Ireland)
- William Hill Plc. (London, United Kingdom)
- Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
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