Online Gambling Industry Market Size 2021

Online gambling has become quite popular in recent times as opposed to physical gambling. This is demonstrated by the 2021 market size. Find out every detail below.

What is the size of the online gambling market?

The online gambling market size is a statistical report on the growth of this industry. For this purpose, various factors that influence it are used as a basis for calculation. At the same time, casinos and other institutions that end up driving online gambling are also taken into account.

The aim of the report is to provide a comprehensive overview of the state of this market. That way, you can be aware of the current situation at a glance and with all the information. 

Main aspects considered in the market size

As already mentioned, the market size report is based on several factors. However, there are a few more important aspects among them, namely:

- Global state of the market. This aspect is vital, as you would expect. It is the value of online gambling in each country. The sum of the individual states of nations allows increasing the reliability of the report's result.

- Trends. Like any market, the online gaming market also suffers from trends during certain periods. Although it is not possible to determine the causes behind them, they undoubtedly have an impact on the growth or decline of the industry.

- Outlook. This aspect is closely related to the previous one. Although it is analyzed on a global scale, smaller perspectives are not ignored, that is, regional and local. As there is less information, it is easy to pinpoint, and contributes to the overall calculation.

- Future scope. The future scope refers to the possible level of the market over the years. This data makes it possible to check how profitable online gambling can be for new investors.

- Competitive scene. This last aspect directly involves online gambling promoters. The level of competition and supply to customers' demand naturally affects the growth of this industry. It has been steadily growing for some time.

Online Gambling Market Size in 2019

Online gambling in 2019 had an excellent performance. According to official information, it was a drastic change from the past decade. The increase, according to experts, may have been mainly due to the popularity of this gambling mode recently.

Compound annual rate

The annual compounded rate of online gambling in 2019 is estimated at more than $55 million. Ten years earlier, in 2009, this industry was worth no more than 20 million. And even in 2016 it stood at 41 million.

It follows from the above that the rate increase towards 2019 was exponential throughout. And analysts say that this continuous growth will still not stop. 

Forward-looking estimates

The 2019 market size report further forecasts what might happen in subsequent years. Experts then estimated that the figures would grow by at least 13.2% by 2020. This ensured a net worth of $66 million for the online gambling market.

Of course, the date of this estimate did not take into account the current pandemic. However, later on we will be able to verify that the calculations were not far from the final reality.

Size of the online gambling market in 2020

2020 was an unusual year for online gambling an unusual year. The reason is none other than the Covid-19 pandemic, obviously. The confinement and biosecurity measures were so sudden that many industries could not prepare adequately.

One of them was the face-to-face gambling industry. The closure of many casinos made it impossible for gamblers to attend. However, this did not negatively affect online gambling. On the contrary, being the only alternative available, it was much more frequented than in other years.

Compound annual rate

Online gaming received a stupendous compound annual compound rate. According to the 2020 market size reports, this aspect had a 10% growth. That's a very good percentage over 2019, and even better amid pandemic risks.

Deposits and withdrawals 

Deposits and withdrawals in online gambling were taxed on a statewide basis. According to the calculations, they had an increasing trend, so they matched previous years.

In relation to 2019, withdrawals increased by 21%. Deposits, meanwhile, were seen increasing by 19.48%. The contrasting figures suggest at the same time a greater individual success in users when it comes to playing.

Marketing

Marketing in online gambling is another of the variables that has the greatest impact on its development. For 2020, curiously, there was an increase with respect to the previous year. At state level, it was estimated at around 462 million Euros.

In addition to the above, it is worth considering the figures for each branch. In the case of sponsorship, the percentage rose by 28.78%. For advertising, on the other hand, the increase was smaller, at 9.14%. Released bonuses grew by 52.94%, being the most benefited in 2020.

Size of the online gambling market in 2021

2021 is still a pandemic year, in spite of the progress already made in this area. That is why it is vital to consider it in the global online gambling market. So far, projections remain fairly close to what has been predicted.

Compound annual rate

It is currently considered that the current year's rate will be increased by 10%. This is in line with the upward trend that the online gambling industry had in 2020. 

However, the projection is somewhat lower than the one offered by some experts. For the latter, the growth for 2021 would be at least 11.64%. Moreover, this increase should be maintained until 2023.

Forecast

2021 is foreseen as a year in which the online gaming industry will be fully consolidated. That is, as opposed to the traditional face-to-face gambling industry. Of course, the global pandemic situation has been central to this.

But the pandemic has not been the only factor. In fact, as we saw, the size of the market was already expanding. Therefore, confinement has simply catapulted that reality. On this point, specialists agree, as there is no indication that the composite rate is going to decrease.

This means that the rates in the 2021 report will most likely be reduced with respect to the following ones. The online gambling industry has established itself as a practical and permanently available method of betting.