The Global Legal Online Gambling Market Projected To Reach $146.4 Billion By 2028 As More Countries And States Opt To Legalize
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The Global Legal Online Gambling Market Projected To Reach $146.4 billion by 2028.
The global online gambling and betting market is estimated to reach $67.5 billion in 2021. It is expected to grow to $146.4 billion by 2028. Sports betting accounts for more than 50 percent of the global revenues. Mobile gaming is growing at the highest CAGR. The rapidly rising smartphone penetration in developing countries will be the major cause for this.
The Global Legal Online Gambling Market Projected To Reach $146.4 billion By 2028. Europe has the largest share of the market. North America is expected to grow at the highest rate. India is considering legalizing online casinos and sports betting. The bill was recently presented in the lower house of parliament. It is also being considered by the central Indian government. ReAnIn report says the most significant obstacle for the growth of online gambling market is the lack of a legal framework to govern it.
There are many states in the US legalizing gambling and sports betting. The market size has grown rapidly in recent years. Some of the money spent on betting comes from players who used to gamble on illegal websites. The global illegal sportsbook market is estimated to be worth $1.7 trillion annually. Organized crime is thought to have a large share of this market. More countries and states are considering legalizing online gambling. This could reduce organized crime's financial power.
