Online Gambling - North America

North America

Highlights

Revenue in the Online Gambling market is projected to reach US$29.94bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 9.02%, resulting in a projected market volume of US$42.30bn by 2028.
The Online Sports Betting market has a projected market volume of US$11.87bn in 2024.
In global comparison, most revenue will be generated United States (US$23.03bn in 2024).
The average revenue per user (ARPU) in the Online Gambling market is projected to amount to US$358.30 in 2024.
In the Online Gambling market, the number of users is expected to amount to 110.7m users by 2028.
User penetration in the Online Gambling market will be at 16.3% in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Online Gambling market in North America is experiencing significant growth and development.

Customer preferences: Customers in North America are increasingly turning to online gambling for its convenience and accessibility. The ability to play from the comfort of their own homes, at any time of the day or night, is a major draw for many players. Additionally, the wide variety of games and betting options available online appeals to a diverse range of customers.

Trends in the market: One of the key trends in the North American online gambling market is the increasing popularity of mobile gambling. With the widespread adoption of smartphones and tablets, more and more players are opting to play on their mobile devices. This trend is driving the development of mobile-friendly gambling platforms and apps, as well as the integration of mobile payment options. Another trend in the market is the growing acceptance and legalization of online gambling in various states and provinces. As the regulatory landscape evolves, more jurisdictions are recognizing the potential economic benefits of legalizing online gambling and are taking steps to regulate and tax the industry. This is leading to increased competition among online gambling operators, as they vie for licenses and market share in newly opened markets.

Local special circumstances: In the United States, the legalization of online sports betting has been a major driver of growth in the online gambling market. Following a Supreme Court ruling in 2018 that struck down a federal ban on sports betting, several states have moved quickly to legalize and regulate the industry. This has created a lucrative market for online sportsbooks, which are now able to offer their services legally in select states. In Canada, the online gambling market is heavily influenced by the country's unique legal framework. While online gambling is technically illegal in Canada, the government has taken a hands-off approach to enforcement, allowing offshore operators to cater to Canadian players. However, this is expected to change in the coming years, as the Canadian government moves towards implementing a more regulated and licensed online gambling market.

Underlying macroeconomic factors: The growth of the online gambling market in North America is also driven by broader macroeconomic factors. The region has a high level of internet penetration and a strong culture of gambling, which provides a solid foundation for the industry to thrive. Additionally, the increasing popularity of online gambling is fueled by advancements in technology and the widespread use of mobile devices. In conclusion, the Online Gambling market in North America is experiencing significant growth and development due to customer preferences for convenience and accessibility, the trends of mobile gambling and the legalization of online gambling in various states and provinces. The local special circumstances in the United States and Canada, as well as the underlying macroeconomic factors of internet penetration and technological advancements, are all contributing to the market's growth.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Gambling Revenue (GGR) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies, and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, the urban population, the usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.