Key Highlights
- The global iGaming market was valued at approximately $85.0 billion in 2022
- The online gambling sector is projected to reach $128.45 billion by 2028
- In 2023, mobile gaming accounts for over 70% of all online gambling revenue
- Approximately 45% of iGamers are aged between 25-34 years old
- The number of online gambling users worldwide surpassed 300 million in 2022
- Asia-Pacific region holds the largest share of the online gambling market, accounting for over 45% of total revenue in 2022
- The top three online gambling markets are the UK, the US, and Australia, with the US experiencing a compound annual growth rate (CAGR) of 10.2% from 2019 to 2023
- The global online sports betting segment is expected to generate $85 billion in revenue by 2026
- 60% of iGamers prefer betting via mobile devices
- The average amount spent per online gambler annually is approximately $250, with significant variation across regions
- The number of online poker players is estimated to be around 50 million globally
- The online casino segment makes up about 68% of total iGaming revenue
- Approximately 25% of online gamblers have participated in live dealer casino games in 2023
The iGaming industry is soaring to new heights with an impressive valuation of $85 billion in 2022 and poised to reach $128 billion by 2028, driven by booming mobile gaming, rapid regional growth, and innovative technologies transforming the way over 300 million players worldwide engage with online betting and casino games.
Demographics and User Behavior
- Approximately 45% of iGamers are aged between 25-34 years old
- The number of online gambling users worldwide surpassed 300 million in 2022
- 60% of iGamers prefer betting via mobile devices
- The average amount spent per online gambler annually is approximately $250, with significant variation across regions
- Approximately 25% of online gamblers have participated in live dealer casino games in 2023
- The number of active online gamblers increased by 12% in 2022 compared to the previous year
- Blockchain-based gambling platforms have seen a user increase of 30% in 2023, outperforming traditional platforms
- The percentage of online gamblers using cryptocurrencies increased from 10% in 2020 to over 25% in 2023
- The gender split among online gamblers is approximately 70% male and 30% female
- Around 35% of online gamblers participate regularly (more than once weekly)
Demographics and User Behavior Interpretation
With nearly half of iGamers aged 25-34 and over 300 million worldwide engaging mostly via mobile, the industry's rapid growth—bolstered by a 30% surge in blockchain platforms and increasing crypto users—reveals a youthful, tech-savvy demographic betting big on convenience, innovation, and digital currencies, even as the gender gap persists and regional spending varies.
Market Size and Revenue
- The global iGaming market was valued at approximately $85.0 billion in 2022
- The online gambling sector is projected to reach $128.45 billion by 2028
- In 2023, mobile gaming accounts for over 70% of all online gambling revenue
- The global online sports betting segment is expected to generate $85 billion in revenue by 2026
- The number of online poker players is estimated to be around 50 million globally
- The online casino segment makes up about 68% of total iGaming revenue
- Countries with the highest online gambling revenue include the UK, Malta, and Gibraltar, each generating over €1 billion annually
- Online gambling operators earned over $15 billion in revenue in North America in 2022
- The adoption of artificial intelligence in iGaming platforms is projected to grow at a CAGR of 19% through 2027
- The average house edge in online slots is around 2.5%, which is comparable to land-based slots
- Esports betting represents approximately 12% of the total sports betting market as of 2023
- The global virtual sports betting market is projected to grow at a CAGR of 16% between 2023 and 2028
- The top five online gambling companies reported combined revenue exceeding $25 billion in 2022
- The most popular form of online gambling in Europe is sports betting, accounting for nearly 50% of the market share
- The global iGaming industry supports over 1 million jobs worldwide, including direct and indirect employment
Market Size and Revenue Interpretation
With the industry now valued at over $85 billion and soaring toward $128.45 billion by 2028—driven predominantly by mobile gaming's 70% share—it's clear that online gambling isn't just a pastime but a multibillion-dollar digital economy, where AI, esports, and virtual sports are fueling a global job market that supports over a million livelihoods.
Regional and Market Share Insights
- Asia-Pacific region holds the largest share of the online gambling market, accounting for over 45% of total revenue in 2022
- The top three online gambling markets are the UK, the US, and Australia, with the US experiencing a compound annual growth rate (CAGR) of 10.2% from 2019 to 2023
Regional and Market Share Insights Interpretation
With Asia-Pacific dominating over 45% of the global online gambling revenue in 2022, and the UK, US, and Australia leading as top markets—buoyed in part by the US’s impressive 10.2% CAGR—it's clear that the online gaming double down is reshaping the stakes of the industry worldwide.
Sources & References
- Reference 1STATISTAResearch Publication(2024)Visit source
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- Reference 6EGAMINGONLINEResearch Publication(2024)Visit source
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- Reference 9CASINOResearch Publication(2024)Visit source
- Reference 10CRYPTONEWSResearch Publication(2024)Visit source
- Reference 11ESPORTSBETTINGResearch Publication(2024)Visit source
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- Reference 13FORBESResearch Publication(2024)Visit source
- Reference 14EUROPEANGAMINGResearch Publication(2024)Visit source
- Reference 15IGAMINGBUSINESSResearch Publication(2024)Visit source