World’s Largest Gambling Market Faces Concern In Terms Of Increased Government Scrutiny

Gambling Market Report 2021 – COVID-19 Impact And Recovery

Gambling Global Market Report 2021 – COVID-19 Impact And Recovery

The Business Research Company’s Gambling Global Market Report 2021 – COVID-19 Impact And Recovery

LONDON, GREATER LONDON, UK, September 20, 2021 /EINPresswire.com/ — The Macau government’s proposal for increased supervision on the gambling industry has quickly resulted in casino operator stock values plummeting. While any prospects of tighter regulations are just in talks right now, investors have already begun to fear that the casino industry players – especially international operators – will not fare well. Asia Pacific is the largest region in the global gambling market, accounting for 38% of the market in 2020, and Macau is seen as ‘Asia’s Las Vegas’.

In recent years, Macau has already greatly increased the number of gaming inspectors, reorganized departments, regulated lending and cash transfers. The latest 45-day consultation period on the gambling industry came last week, and will likely define the future of the gambling market in Asia.

As per data on the Global Market Model, the global gambling market size is expected to grow from $465.76 billion in 2020 to $516.03 billion in 2021 at a compound annual growth rate (CAGR) of 10.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $674.70 billion in 2025 at a CAGR of 7%.

TBRC’s global gambling market report is segmented by type into casino, lotteries, sports betting, other gambling and by channel type into offline, online, virtual reality (VR). The gambling market consists of sales of gambling services and related goods by entities (organizations, sole traders and partnerships) that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting. Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under gambler control, with an intent of winning money. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market. The gambling market also includes sales of gambling services and related goods by entities that operate casino hotels.

The demand for gambling is expected to be driven by the changing gambling habits of consumers. The increasing popularity of gambling apps and social gambling will propel the growth of the market going forward. The global social casino market is expected to reach $4.64 billion by 2020, growing at a CAGR of 5%. An increasing adoption of mobile devices and increasing internet penetration will drive the demand for online gambling, driving market growth. Major players in the global gambling industry are William Hill, MGM Resorts, Las Vegas Sands, Paddy Power, Betfair Entertainment.

About The Global Market Model
The Global Market Model is the world’s most comprehensive database of integrated market information available. The ten-year forecasts in the Global Market Model are updated in real time to reflect the latest market realities, which is a huge advantage over static, report-based platforms.

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