It has never been easier to find high quality casino action online. I think we can all agree on that. The fact is, it doesn’t even matter where you are. As long as you have an internet connection, Boom – you’re good to go!
What Makes Our Industry Tick?
There are of course many reasons why the gambling market continues to thrive. I would even be inclined to put accessibility at the very top. The fact that 24 hours per day, 365 days per year, it’s only a click away is a life changer for players.
Then there’s the emergence of crypto and how some casinos have made the necessary adjustments, for it to be allowed as a currency.
When it comes to money, the online gambling market revenue was around $80.81billion in 2022. This year, it is projected to reach as high as $95.05 billion, showing us an impressive increase of 17.6%.
Online Gambling Industry Statistics
I have taken a look at some industry statistics, with focus on the North American and European markets. However, before we move into those, here are some other interesting statistics from Statista.com:
- Revenue in the Online Gambling market is projected to reach US$95.05bn in 2023.
- Revenue is expected to show an annual growth rate (CAGR 2023-2027) of 8.54%, resulting in a projected market volume of US$131.90bn by 2027.
- In the Online Gambling market, the number of users is expected to amount to 233.7m users by 2027.
- In global comparison, most revenue will be generated in the United States (US$19,140.00m in 2023).
- With a projected rate of 46.8%, the user penetration in the Online Gambling market is highest in Canada.
Online vs Offline
Even though online casinos continue to gain momentum and grow, the majority of the revenue still comes from offline casinos. In the graph above, you can see the Online vs Offline revenue split as of August 2023.
Where Does the Revenue Come From?
The trajectory of the revenue shows a steady growth and if you are interested in where it comes from, you will find the information in the image above. You can see how Casino and Lottery combined, makes up as much as sports betting.
North America Online Gambling Industry Statistics
As we all know, the North American market is massive and it keeps on growing. Over the next 5 years, it is predicted to have an annual growth rate of 11.78%. High access to the internet and mobile devices is a force behind the market growth.
Playing at online casinos is getting more and more popular among people, all throughout the region. Players can access registered offshore platforms as well as 200+ American online casinos for their favorite games such as Slots, Blackjack, Roulette etc.
Here are some interesting stats from the North American online gambling market.
- The U.S. recorded around $5.02 billion in income in online wagers in 2022.
- During the first 11 months of 2022, the country broke its previous gambling revenue record by 13.5% ($53.04 billion).
- In global comparison, most revenue will be generated in the United States (US$6,292.00m in 2023).
- Canada’s gambling industry will shoot from $12 billion to $50 billion in the next decade.
- Smartphones are a big reason for an increased interest in online gambling among Canadians. 84.4% of Canadians owned a smartphone, accounting for a 4.1% increase since 2018.
- With a projected rate of 34.1%, the user penetration in the Online Casinos market is highest in Canada.
European Online Gambling Industry Statistics
With Europe’s regulated online gambling industry, the market could grow from $47.1 million to $79.4 million (2023-2028), with an annual growth rate of 11.01%.
Despite the fact that European countries are often bulked into one and the same, clearly the different countries have their own restrictions regarding gambling. In France for example, 13% of the people think the gambling laws are strict, while fewer people agree in Great Britain and Italy.
The above graph will give you an idea of the percentage of people who have participated in online gambling by 2021.
More statistics from the European market
- UK’s gross online gambling yield from April to September 2020 was £3.1 billion.
- Germany consists of 16 states, each with regulated online gambling. This favors online operators to attract players nationwide.
- With a $2.3 billion projected market growth, Germany’s online gambling will soar by 2028.
- Spain noted an 18% gross gaming revenue increase in the third quarter of 2022.
- Spain’s gambling market keeps a steady growth and is a strong economic force. As one of the most avid gambling countries worldwide, the market would climb 13% CAGR from 2023-2028.
Slots Are Still Running the Show
When it comes to the actual games, it’s no secret that most players prefer to hit the slots. Slots do run the global casino show and is the most popular choice. Here’s what the split looks like.
- Slots: 62.4%
- Sports betting: 36.97%
- Roulette: 28.8%
- Poker: 8.36%
- Bingo: 1.53%
More to Come
If you would like to see more information like this, don’t worry. I am hoping to present more interesting stats from our great industry going forward. Stay tuned.