Mobile Gambling Market Projected to Hit USD 154.81 Billion at a 12.10% CAGR by 2030 – Report by Market Research Future (MRFR) – GlobeNewswire

New York, US, Oct. 07, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), GlobalMobile Gambling Market Research Report: By Type, End-User, Region - Forecast till 2030, the market will reach USD 154.81 billion at a 12.10% CAGR by 2030.

Mobile Gambling Market Drivers

The integration of blockchain technology will boost market growth. Transparency in gambling activity is ensured by the blockchain's ability to make safe payments. Due to the speed and security of bitcoin transactions, gambling offers a wide range of chances. Because bitcoin transactions are subject to fewer regulations, they are now widely employed in mobile gambling.

Mobile Gambling Market Key Players

Key players profiled in the global mobile gambling market report include,

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Mobile Gambling Market Opportunities

Growing Popularity of mobile gaming market to offer Robust Opportunities

The growing popularity of mobile gaming will offer robust opportunities for the mobile gambling market over the forecast period.

Restraints and Challenges

Addiction to Gambling to act as Market Challenge

The addiction to gambling and security risks like cyber-attacks may act as market challenges over the forecast period.

Mobile Gambling Market Report Scope:

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COVID-19 Analysis of Mobile Gambling Market

The pandemic is being viewed as a leisure time to sit at home and recognize their skills, likes, and dislikes for things and events, aside from the emergency and panic that have been caused throughout the world and especially where the rate of positive cases and transmission is high. Social media was flooded with diverse trends during the pandemic, which not only encouraged copying and following but also allowed users to identify their own skills and talents. The target demographic plays a lot of games on a variety of devices, including smartphones, tablets, mobile phones, iPads, & tablets, as well as online. With the programs being downloaded on numerous platforms, games like Ludo, cricket, Ludo King, driving, & Pubg, among others, witnessed a significant increase in popularity.

Another form of entertainment that has seen a significant rise in popularity is gambling. Some gamble with the intention of testing their luck, while others do so as a way to pass the time or for entertainment, and still others do so in order to make a significant profit that can be used for a variety of purposes. Gambling includes activities like betting, lottery, and bingo, among others, and is not just about the exchange of resources and money between different hands. The major competitors in the global mobile gambling market are improving their operations and providing various incentives in an effort to draw more customers to sample what they have to offer. In addition, the participants are legalizing their operations by offering clear services that are reliable and unquestionable. Additionally, the market is only being promoted for enjoyment and entertainment and not for any illicit purposes.

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Mobile Gambling Market Segmentation

The global mobile gaming market is bifurcated based on type and end user.

By type, the casino segment will lead the market over the forecast period.

By end user, gambling enthusiasts will dominate the market over the forecast period.

Mobile Gambling Market Regional Analysis

North America to Lead Mobile Gaming Market

Among the market activities being carried out by various competitors and geographies during the forecast period that ends in 2028, the North American area is projected to show the fastest growth. The primary cause of this is that only licensed bookies are permitted to operate in states like Nevada, New Jersey, and Pennsylvania under the US legal system as it currently stands. Additionally, mobile poker, mobile casinos, and sports betting are some of the market insights that are permitted to function in the area under the newly passed legislation. In terms of operations on the global mobile gambling market, New Jersey is anticipated to become the largest market. It is projected that throughout the upcoming years, North America would have steady growth.

It is projected that the region's growing regularization of the sector will fuel industrial expansion. Because gambling is controlled in these states, the legal structure in the United States currently only permits licensed bookmakers to operate legally in New Jersey, Nevada, and Pennsylvania. Online poker, sports betting, online casinos, and other forms of virtual gambling are now permitted following the adoption of new legislation governing and allowing it. Today, New Jersey is the US state with the largest regulated internet gaming sector since there are numerous live sports-books, apps, and websites in the area. Moreover, when it comes to online gambling, Canada is mostly an uncontrolled nation. Additionally, Mexican officials want to control the country's internet gaming industry.

Europe to Have Admirable Growth in Mobile Gaming Market

In 2021, Europe grabbed the largest market share globally. The region's substantial market share can be ascribed to the legalization of gambling in several nations, including Malta, Germany, France, Italy, and Malta. Additionally, the UKGC's Gambling Act of 2005, which allows businesses to advertise their gambling websites, as well as the growing popularity of online casinos, both significantly contribute to the mobile gambling market expansion in the area. In 2021, Europe held the highest market share, and it is anticipated that it would continue to do so going forward. The key force behind the region's growth is the region's simple regulations and safety standards.

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Additionally, the EU online gambling business is supported by the rising number of sports betting fans in European nations like the United Kingdom, Germany, France, Italy, and Spain.

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Mobile Gambling Market Projected to Hit USD 154.81 Billion at a 12.10% CAGR by 2030 - Report by Market Research Future (MRFR) - GlobeNewswire