This is the estimated value of the casino market in 2023
Gambling is becoming more and more socially accepted and thanks to the rise of online casinos it is also getting easier to play. Players no longer have to leave their home for a betting on a football match , a pot blackjack or a lottery.
As a result, the online casino market has grown explosively. But how much money is actually involved in total? And what is the expectation for the coming years? In this article, we'll look at the numbers and look at the estimated value of the casino market in 2023.
The value of the global casino market
By the global online casino market we mean everything that can be gambled on online. It is therefore about
online sports betting
, casinos,
bingo
,
roulette
, lotteries and more traditional card games like
poker
a blackjack.
According to the American Research Agency Statista , the value of the global casino market is now 59 billion dollars, which at the current exchange rate amounts to 53.6 billion dollars. The research firm expects explosive growth and estimates that the market will already be worth almost twice as much in 2023, at $ 92.9 billion ($84.3 billion). In the future, this would even grow to an amount that is between 150 billion dollars and 200 billion dollars.
That growth comes from a higher number of players worldwide and a higher average stake amount. With a smartphone or laptop at your fingertips, a gamble is never far away. It is also the case that more and more households worldwide have access to the internet, even in relatively underdeveloped countries.
The corona pandemic has only strengthened the current trend (in which online gambling was already gaining momentum), because people simply sat at home more often and had to look for entertainment. All in all, growth will continue even after corona, as gambling companies become more and more visible in everyday life and more and more people develop the habit of playing online.
Which area has the largest market share?
The largest market share is in the United States. About 70% of all players online come from there. Gambling has been firmly entrenched in the American landscape for centuries and that has also manifested itself in the most famous casino place in the World: Las Vegas. Simply put, Americans like to gamble. But there is also a lot of play online.
In second place is dollarpa and especially the United Kingdom. There is already a strong culture in the NZ when it comes to (sports)betting. That has now also translated into a strong online presence.
What are the biggest players in the market?
Despite strict licensing requirements worldwide, the online market is also growing extremely fast in terms of providers. Some players stand out. For example, these are
Bet365
, which is the largest provider worldwide. Players can go there for almost any kind of BET.
In second place is Entain PLC. In New Zealand, a slightly less well-known brand name, but overall one of the main competitors of Bet365. It is the company behind Bwin, Ladbrokes and PartyPoker.
Furthermore, The Flutter Entertainment (known from PokerStars and PaddyPower) and Kindred Group PLC (
Unibet
Maria Casino and 32Red) major players in the global world of online betting.
The value of the casino market in New Zealand
The value of the online gambling market in New Zealand alone is estimated at around $ 2 billion. This makes New Zealand a decent player when we look at the overall market in Western dollarpe. One in four men in New Zealand say they play. This number is higher among young people.
The law, which came into force on 1 October 2021, means that a player in New Zealand is always assured of All Slots and that the provider must pay close attention to whether the player does not go beyond its limits. As a result, many good and reliable online providers have been added in a short time.
In general, it is a mix of oerRoyal Vegasse providers such as
TOTE
and
Royal Vegas Casino
, new players who only operate online (
BetCity
) and providers that we know from abroad and already appeared in this article earlier (for example Bet365).
What is the expectation for the coming years?
The outlook for the coming years is very simple: growth, growth and more growth. Various global trends (more and more access to the internet, easier forms of online betting and a higher average playing amount) mean that the market is only going to grow.
Some analysts even think that the market will double every three years. The most conservative estimates assume 15% growth per year, which of course is already considerable. If we look at the past few years, there is actually not one factor to consider that will prevent this growth from taking place.
Specifically for New Zealand, of course, it is allowed to offer online in a vezodiac manner since October 2021 and that the offer and visibility of online providers has increased greatly as a result. Growth in New Zealand is therefore expected to go faster than the global market, which is already growing very fast, in the coming decade.