The casino online gambling market is expected to witness market growth at a rate of 13.70% in the forecast period of 2021 to 2028 and is expected to reach USD 144.74 billion by 2028.  online casinos

Data Bridge Market Research report on casino online gambling market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increasing popularity of betting globally is escalating the growth of casino online gambling market.

Online casino refers to the virtual casino which is an advanced version of a traditional casino. This casino includes games such as slot machines, keno, poker, bingo and roulette. They are known to provide higher payback percentages when compared to offline casinos and they also have better odds of winning for their players. Online casinos provide numerous gifts and bonuses that include cashback or insurance bonuses, referral bonuses, welcome bonuses, non-cashable bonuses, compensatory points, no deposit bonuses and compensatory points. These benefits assist vendors in the rising number of visitors and players to their websites.

Covid-19 helps casino online gambling market growth

The increase in popularity of betting and the freemium model in online gambling among consumers, act as the major factors driving the casino online gambling market. The growing adoption of smartphones, easy accessibility of casino gaming platforms and rise in penetration of the internet accelerate the casino online gambling market growth. The rise in the number of users of online gambling platforms especially during pandemic outbreak, the implementation of social distancing restrictions due to the outbreak of COVID-19 and increase in the internet traffic on all platforms influence the casino online gambling market. The inclination toward electronic gambling devices (EGDs) as it is an in-built software that mimics the experience of a local casino and the inexpensiveness to run and easy availability also propels the casino online gambling market.

Additionally, the availability of cost-effective mobile applications, increasing digitalization, several secure digital payment options, surge in disposable income and rising use of digital currency and websites positively affect the casino online gambling market. Furthermore, high frequency of gambling websites, increase in number of registration, rise in favorable online-gambling laws and technological advancement extend profitable opportunities to the casino online gambling market players in the forecast period of 2021 to 2028.

Key Market Players

Asia-Pacific is expected to witness the fastest growth online casinos

Europe dominates the casino online gambling market due to the implementation of favorable government rules and regulations for online casinos in countries including the U.K., Germany and Italy and legalized owing to safe practices in the region.

Asia-Pacific is expected to witness the fastest growth during the forecast period of 2021 to 2028 because of the larger proportion of the younger population, adoption of smartphones and legalization of online gambling in the region.

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