The casino segment covers all gambling activities within casino establishments, such as card games, roulette, and slot machines located in casinos; tips and admission fees are included, but additional revenues such as food, drink, and accommodation sales are excluded.
The global market size of the online casino sector reached a value of $23 billion in 2021, accounting for 30% of the market size in Online gambling which includes Bingo, Poker, and Sports betting alongside Casinos.
Earlier in the year 2020, globally, when the COVID-19 outbreak impacted the offline sector greatly, online casinos had no effect with the population shifting towards online mode as the whole world was at a standstill with multiple lockdowns and government restrictions for the better part of the year. As a result, a huge growth of 35% was seen in the online casino sector, accounting for an increase in market size of $5.8 billion.
After the restrictions were eased, the sector witnessed a little downfall as people were eager to get out of their homes and play in offline mode. Hence, the global online casino market grew by 3% in 2021, accounting for $0.7 billion.
With the casinos being made to adjust their games and follow the government’s safety measures after they resumed operations, as many games provided by them require attendants to be close to each other or be played between groups of people, the demand for online casinos is growing at a steady pace.
The global online casino market grew at a CAGR of 15% during the period 2017-2021. This was primarily on account of the increase in the number of people willing to try new experiences as a result of the higher disposable income, mainly among youth. Also, with the ease of access to the internet, the demand for online casinos is on a rise.
The major companies that have a strong presence in the online casino market include Kindred, Ignition, and Bet365 among others.
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