Casino Industry Analysis And Forecast

casino industry analysis and forecast

The casino and gambling industry has experienced significant growth over the last few decades, driven by the ongoing legalization of gambling-related activities and the expansion of online gambling platforms. 

The online casino industry plays a significant role in the global gambling market. In 2022, the global online gambling market size was valued at USD 63.53 billion and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030. By 2030, the market size is projected to reach USD 153.57 billion. The online gambling market includes various segments such as sports betting, casinos, slots, table games, dealer games, and other casino games.

In the United States, the online gambling market reached a size of USD 9.5 billion in 2023. The US online gambling market is expected to grow at a CAGR of 16.52% and reach USD 4,385.52 million in 2023, further increasing to USD 9,419.40 million by 2028. New Jersey is currently the largest market for regulated online gambling in the United States.

The growth of the online casino industry can be attributed to factors such as increasing internet penetration, the rise in the use of mobile phones for playing online games, and the emergence of freemium modes of online gaming. Additionally, the availability of cost-effective betting applications and the increasing number of mobile internet subscribers, particularly in the Asia Pacific region, are expected to favor market growth.

Here is an analysis of the casino industry:

  • Market Size and Growth: Global casino and online gambling revenue is forecast to rise at a compound annual growth rate (CAGR) of 1.8% over the next five years, reaching a projected $263.3 billion in revenue. The online gambling market size is expected to grow from USD 60,629.31 million in 2023 to USD 103,738.20 million by 2028.
  • Market Segmentation: The gambling and gaming industry includes various types of gambling and betting, such as slot machines, card games, sports betting, and online casinos. The casino gambling market is highly fragmented and consists of regional and global players.
  • Key Players: Major players in the casino industry include Bet365, Entain PLC, Flutter Entertainment PLC, and Kindred Group PLC. These companies dominate the market and focus on mergers and acquisitions, partnerships, and product innovations to expand their presence and cater to consumer preferences.
  • Regulations: Relaxation in gambling regulations and legalization of gambling in several nations have contributed to the growth of the casino industry. Gambling machines, one of the segments analyzed in the industry, are projected to record a 4.1% CAGR and reach US$77.4 billion by the end of the analysis period.
  • Trends: Some of the key trends transforming the casino industry include the slower growth of crypto casinos, the increasing popularity of live dealer games, a shift in preferred payment methods, the rise of virtual reality (VR) gaming, and the integration of gaming experiences with smartwatches. Additionally, the industry has seen the development of bigger and better slot machines and a focus on dynamic and charismatic dealers to keep players entertained and engaged.
  • Market Restraints and Challenges: The casino industry faces challenges such as the threat of new entrants, bargaining power of buyers/consumers, bargaining power of suppliers, threat of substitute products, and intensity of competitive rivalry.
  • SWOT Analysis: The casino industry’s strengths include its growing market and diverse offerings, while weaknesses involve regulatory challenges and high competition. Opportunities for the industry lie in the expansion of online gambling and the adoption of innovative technologies, whereas threats include economic downturns and changing regulations.

The casino industry has been growing rapidly, driven by factors such as the legalization of gambling, the expansion of online platforms, and the relaxation of regulations. The market is highly fragmented, with key players focusing on mergers, acquisitions, and product innovations to maintain their competitive edge.

Key Insights

Based on the information from Grand View Research, here are some key insights about the online gambling market:

  • Market Size: The global online gambling market size was valued at USD 63.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030.

2023 to 2030.

  • Market Segmentation: The online gambling market is segmented based on type, device, and region. The types include sports betting, casinos, poker, and bingo. The devices used for online gambling are desktop, mobile, and others.
  • Growth Drivers: The growing internet penetration and the rise in the use of mobile phones among users for playing online games are increasing the demand for online gambling. For instance, in 2022, internet penetration in the U.S. was 92% of the country’s total population.
  • Regional Analysis: The online gambling market report provides revenue growth analysis at global, regional, and country levels. Some of the regions analyzed in the report include North America (U.S. and Canada), Europe (Germany, U.K., France, and Italy), and others.

Biggest Markets

Based on our research, here are the top 10 gambling countries and their market size:

  1. United States: The US gambling market was valued at around $54.9 billion in 2020 and online gambling $9.5 billion.
    online gambling $9.5 billion.
  2. United Kingdom: The UK has £14.7 online gambling market, with numerous non-UK casinos accepting UK players.
  3. Canada: Canadian gambling industry was valued at $12.54 billion in 2021.
  4. China: The China online gambling market size reached US$ 9.9 Billion in 2022.
  5. Japan: The Japan online gambling market size reached US$ 7.2 Billion in 2022.
  6. Russia:The current market size is €9.7 billion with €5.7 billion being legal.
  7. Australia: The Australia online gambling market size reached US$ 4.5 Billion in 2022.
  8. Netherlands: The Netherlands has a total gambling gross win of $3 billion.
  9. Spain: Revenue in the Online Gambling market is projected to reach €1.67bn in 2023.
  10. South Korea: The market size of the casino sector in South Korea reached a value of $1 billion in 2021.

value of $1 billion in 2021.

These countries are among the top contributors to the global gambling market, driven by factors such as regulatory frameworks, consumer preferences, and the range of products and services offered.

Casino Industry SWOT Analysis

Based on our research, here is a SWOT analysis of the casino industry:


  • Growing Market: The casino industry has experienced significant growth over the past decade, driven by the legalization of gambling activities and the expansion of online platforms.
  • Technological Advancements: The industry has embraced new technologies, such as live dealer games, virtual reality gaming, and mobile gaming, which have enhanced the overall gambling experience.
  • Diverse Offerings: Casinos offer a wide range of gaming options, including slot machines, table games, and sports betting, catering to various consumer preferences.


  • Regulatory Challenges: The casino industry faces strict regulations and licensing requirements, which can limit growth opportunities and increase operational costs.
  • Reputation: The industry has faced criticism for promoting addictive behavior and contributing to social problems, which can negatively impact its public image.
  • High Competition: The casino industry is highly competitive, with numerous operators vying for market share, leading to increased marketing and promotional costs.


  • Online Gambling Expansion: The continued growth of online gambling platforms presents significant opportunities for the industry to reach new customers and expand its market share.
  • Emerging Markets: The legalization of gambling in new jurisdictions and the growth of the middle class in emerging markets offer potential for expansion.
  • Innovative Technologies: The adoption of new technologies, such as artificial intelligence, blockchain, and data analytics, can help the industry improve its offerings and streamline operations.


  • Economic Downturns: The casino industry is sensitive to economic fluctuations, as consumers may reduce discretionary spending during economic downturns, impacting revenue.
  • Changing Regulations: The industry faces the risk of changing regulations, which can impact operations and profitability.
  • New Entrants: The growth of the online gambling market has lowered barriers to entry, increasing the threat of new competitors.

In summary, the casino industry has several strengths, such as its growing market, diverse offerings, and technological advancements. However, it also faces weaknesses, including regulatory challenges, reputation issues, and high competition. Opportunities for the industry include the expansion of online gambling, emerging markets, and innovative technologies, while threats consist of economic downturns, changing regulations, and new entrants.

Trends In The Casino Industry Over The Last Decade

Over the last decade, the casino industry has undergone significant transformations, driven by technological advancements and changing consumer preferences. Some of the key trends that have shaped the industry in the past ten years include:

  1. Growth of Online Casinos: The popularity of online casinos has surged, with the industry evolving enormously due to the widespread adoption of smartphones and increased internet accessibility.
  2. Live Dealer Games: The use of live dealers for games like Blackjack and Baccarat has become increasingly popular, providing a more engaging and interactive experience for players.
  3. Cryptocurrency and Payment Methods: The acceptance of cryptocurrencies as a payment method is growing, and some operators are considering replacing traditional methods such as Skrill and Poli in pokies with cryptocurrencies in both land-based and online casinos.
  4. Virtual Reality (VR) Gaming: The rise of VR-based gaming has provided players with more immersive and dynamic gambling experiences, mirroring the atmosphere of land-based casinos.
  5. Smartwatches and Mobile Gaming: The integration of casino gaming experiences with smartwatches and mobile devices has allowed for more convenient and accessible gaming options.
  6. Data Mining and Analytics: Casinos have leveraged technological improvements to increase their data-mining and collection capabilities, allowing them to better understand player preferences and tailor their offerings accordingly.
  7. Non-Traditional Casino Amenities: To attract patrons and combat competition, casinos have invested in non-traditional amenities, such as entertainment venues, dining options, and retail spaces.

These trends have significantly impacted the casino industry, with operators adapting to new technologies and consumer preferences to remain competitive and relevant in the market.

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