North America Online Gambling Market Report and Forecast 2024-2032

North America Online Gambling Market Outlook

The North America online gambling market size attained a value of USD 13.068 billion in 2023. The market is expected to grow at a CAGR of 9.07% between 2024 and 2032, reaching almost USD 27.567 billion by 2032.

Key Takeaways

• According to 2022 data from Statistics Canada, around 64.5% of Canadians aged 15+ (about 18.9 million people) participated in gambling in 2018.

• The American Gaming Association reports that by January 2024, sports betting is legally regulated in 38 US states, thus, fuelling the North America online gambling market growth.

• The Super Bowl is expected to become the most significant sports betting occasion ever witnessed in the history of the United States.

The North America online gambling market comprises diverse digital platforms and services catering to gambling activities throughout the region. It encompasses a broad spectrum of online gambling types, including sports betting, casino games, poker, lotteries, and various other betting options, all accessible via digital platforms.

Licensed operators and platforms provide these online gambling services, enabling individuals to engage in remote gambling and betting using devices such as computers, smartphones, or other internet-enabled devices. The market reflects a rising inclination towards online gambling, driven by technological advancements like mobile apps, virtual reality, and blockchain, which enhance the overall gambling experience.

Based on Statistics Canada's 2022 statistics, approximately 64.5% of Canadians aged 15 or older, equivalent to 18.9 million individuals, engaged in gambling activities in 2018. This significant participation contributed to the North America online gambling market growth.

PREVALENCE OF GAMBLING BY HOUSEHOLD POPULATION AGE

Key Trends and Developments

The North America online gambling market is growing in technological progress, accessibility and convenience, legalisation and regulatory shifts and passion for sports.

February 2023

Super Bowl LVIII, anticipated as the largest U.S. betting event, occurs in Las Vegas amidst growing excitement, with around 43 million planning online sports bets.

December 2023

Las Vegas welcomed its first new casino in over two years, a $780 million property aimed at locals over tourists, hosted by Station Casinos, a subsidiary of Red Rock Resorts Inc.

September 2023

Chicago celebrated the opening of its inaugural legal casino, Bally's, ending years of political debate. Located in River North, it inhabits the historic Moorish Revival-style Medinah Temple, constructed by the city's Shriners in 1912.

June 2023

Great Canadian Casino Resort inaugurated in Toronto, a $1 billion complex sprawling across 33 acres, featured a contemporary Vegas-style casino, a 400-room hotel, a 5,000-seat entertainment venue, and diverse dining choices.

Technological progress

The swift technological progress propels the North America online gambling market development, with advancements like mobile platforms, advanced software, and heightened security bolstering user experience. Integration of VR and AR creates immersive gaming, while blockchain ensures secure transactions, fostering trust and market expansion.

Accessibility and convenience

Online gambling platforms provide unmatched convenience, enabling users to enjoy a vast selection of games anytime, anywhere. This accessibility, made possible by widespread internet access and the prevalence of smart devices, has attracted a diverse clientele, driving market expansion.

Legalisation and regulatory shifts

Legalisation and regulation of online gambling drive market growth. Governments acknowledge economic benefits, including job creation and tax revenues, leading to legal amendments. Clear legal frameworks ensure safety and fairness, attracting participants and curbing illegal activities, fuelling expansion.

Passion for sports

Sports betting is immensely popular due to the widespread appeal of sports globally. Major events like the Super Bowl and FIFA tournaments attract both legal and illicit betting across the world, appealing to a wide range of gamblers.

North America Online Gambling Market Trends

As per the North America online gambling market report, the transition of players from traditional to digital gambling presents lucrative growth opportunities for online casino operators. Many seasoned players favour live casinos for their ability to monitor gameplay and offer real-time interaction with live dealers. Additionally, these platforms provide flexibility with 24/7 access.

Furthermore, online gaming platforms embrace secure online payment methods, enhancing consumer trust and fuelling market expansion. Many online sports betting firms employ strategic partnerships, including acquisitions or mergers, to sponsor teams and expand their reach as part of their marketing endeavours.

Market Segmentation

North America Online Gambling Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Game Type

• Sports Betting

• Casino

• Lottery

• Bingo

Market Breakup by Device

• Desktop and Laptops

• Mobile and Tablets

Market Breakup by Country

• United States of America

• Canada

Sports betting dominates the North America online gambling market, largely due to the widespread enthusiasm for sports

The segment's growth is powered by major sports events like the FIFA World Cup and the Olympics. Online platforms offer live betting, event coverage, and competitive odds, with features like live streaming and real-time analytics enhancing the betting experience amid regulatory shifts favouring legalisation.

Online casinos offer diverse games like slots, poker, blackjack, roulette, and baccarat, catering to both serious and casual players with a variety of options ranging from simple slots to strategic games like poker.

Based on device, the North America online gambling market share is led by mobiles and tablets

Mobile gambling is swiftly expanding and poised to exceed desktop usage in the online gambling market, propelled by smartphone and tablet prevalence, improved technology, and user-friendly interfaces.

Desktop platforms provide superior screen size and stable internet connectivity, enhancing immersion, particularly in intricate games such as poker and virtual casinos. Companies prioritise advanced graphics, reliable software, and extensive game selections to entice users.

Competitive Landscape

The North America online gambling market competitiveness is characterised by the technological advancements, ease of access, and regulatory changes.

888 Holdings was established in 1997 as Virtual Holdings Limited, is a global gambling and sports betting corporation. It possesses renowned brands including 888casino, 888poker, 888sport, Mr Green, and William Hill.

MGM Resorts International was established in 1986 and headquartered in the United States, is a worldwide hospitality enterprise. It manages both casino and non-casino resort ventures globally, with key business activities spanning gaming, hospitality, and entertainment.

Flutter Entertainment Plc was founded in Ireland in 2016, previously known as Paddy Power Betfair plc, and operates as a global sports betting and gambling corporation. It engages in various activities such as on-course bookmaking, daily fantasy sports, broadcasting, editorial services, sportsbooks, exchanges, and business-to-business services.

Caesars Entertainment Inc. was established in 1973 and is headquartered in the United States and operates a network of resorts. The company provides various gaming amenities including casinos, poker, and roulette, along with food and beverage services.

Other North America online gambling market key players are PENN Entertainment Inc., Churchill Downs, Inc., Entain Plc, SGHC Ltd. (Betway), DraftKings Inc., and Cherry Gold Casino, among others.

North America Online Gambling Market Analysis by Country

The United States is experiencing a rising embrace of online gambling, which is evident by the ongoing process of legalising and regulating online sports betting and casinos. This trend is accompanied by technological advancements, heightened investment in mobile platforms, and collaborative ventures between local and international gambling entities.

As reported by the American Gaming Association, as of 2024, sports betting is permitted and regulated in 38 states across the US, driving the demand for online gambling in North America.

SPORTS BETTING LEGISLATION IN THE US STATES, 2024

In Canada, gambling stands as a significant facet of the entertainment sector, bolstered by widespread familiarity with gambling practices and the growing accessibility of legal gambling opportunities, aiding the North America online gambling market development.

Key Highlights of the Report

North America Online Gambling Market Report Snapshots

North America Online Gambling Market Size

North America Online Gambling Market Trends

North America Online Gambling Companies

North America Online Gambling Market Regional Analysis