Asia, Sponsorships will Grow Gambling Market to $153B

  • Grand View Research totaled the 2021 online gambling market at $57.5 billion.
  • Asia’s increase in internet availability will help fuel iGaming growth.
  • Corporate sponsorships and media coverage adds to removing the taboo nature of gambling.

WASHINGTON – Over 2021, online gambling saw a value of $57.5 billion. New estimates put the market at $153.6 billion in 2030.

Growing at a CAGR of 11.7%, the total includes all forms of online gambling.

Sports betting remains the dominant gambling type with online casinos and bingo just behind.

Still, Europe remains responsible for 41% of the market. But growth is expected all over the world.

Rising Internet Connections

Mobile betting may take up over 50% of gambling, but desktop gambling is still growing. There was $28 billion in computer-based gambling revenue.

Many attribute this to the better quality pictures, volume and sounds of games.

As one of the world’s fastest growing internet markets, Southeast Asia will certainly help in this boost.

Esports betting should see a large increase too. Even the Olympics and Asian Games are including esports into the events. With esports events in Asia and technological advancements locally, the two may grow together.

The study also points to mobile phones giving extra accessibility to gamblers. It allows some to gamble in public places, parking lots, or even at home.

Less Taboo

Growth in the industry also comes as the taboo nature of gambling decreases. With more forms of online gambling becoming regulated, the trust in gaming increases.

Add in corporate sponsorships and the interest blossoms. Take advertisements for Caesars Sportsbook for example.

Even the Charades commercial features all the Manning boys… Archie, Cooper, Peyton, and Eli.. as well as JB Smoove.

In total, Caesars spent $57.5 million in the first half of 2022 on sportsbook advertising.

Of course, these online gambling operators are well funded as most as publicly traded. Regardless, $153.6 billion in 2030 seems reachable.