Online gambling software provider’s market share
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The gambling industry has experienced a significant growth in recent years. The market experienced an even more significant surge during the peak of the COVID-19 when there was a global lockdown. People were playing online gambling games to pass the time and earn money. Before the pandemic, the software provider market share was somewhere below $66 billion. Between then and 2021, it grew to over $74 billion, which is expected to grow further in the coming years to $158 billion by 2028.
The CAGR considers the type of betting. Sports betting is the most significant growth area. Mobile devices are the main reason for the growth of the gambling industry. Europe is dominating the market due to the legal status of gambling. Asia Pacific is likely to enjoy more growth in the coming years. Gambling was illegal in most Asian countries before the pandemic. Now it's legal in some European countries. Most European gambling sites are allowed to make adverts about their gambling websites. There are fewer internet services and smartphones in Asia. The number of internet users in this region is increasing.
Online gambling software provider’s market share based on type of betting.
Mobile games are increasing the growth of the gambling industry. Online gambling software providers have a higher market share based on device.
Europe dominates the market based on regional insight. Gambling was legalized in most European countries at the time of the survey.
Gambling software providers are the significant backbones behind the success of online gambling. Without continuous development, many of them may cease to exist. The growth in the industry is applaudable and encouraging enough for the software providers.
