GOOD GROWTH AHEAD FOR ONLINE GAMBLING, SAYS RESEARCH FIRM
Transparency Market Research forecasts market growth at a CAGR of 10.8 percent by 2024.
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
Major brands like William Hill PLC, Playtech PLC, Paddy Power Betfair PLC, Amaya, Inc., and Ladbrokes Coral Group PLC are marked as highly promising players expected to generate larger shares for themselves over the coming years, the teaser notes.
The company agrees with the widely held opinion that the global online gambling and betting market will become more consolidated after experiencing a growth in the number of mergers and acquisitions.
The nature of the market leaves very little scope for service differentiation which is currently restricting the entry for new players, it opines. Policies and regulations surrounding online gambling and betting are also highly stringent in several regions, leaving little scope of growth for new entrants.
The global online gambling and betting market is expected to reach US$96.89 billion by 2024, the researcher estimates, concluding that its value at the end of 2016 was US$42.63 billion .