Online Casinos - Philippines | Statista Market Forecast

Revenue in the Online Casinos market is projected to reach US$262.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 5.94%, resulting in a projected market volume of US$330.30m by 2028.
In the Online Casinos market, the number of users is expected to amount to 4.5m users by 2028.
User penetration will be 3.0% in 2024 and is expected to hit 3.7% by 2028.
The average revenue per user (ARPU) is expected to amount to US$76.71.
In global comparison, most revenue will be generated United States (US$7.64bn in 2024).
With a projected rate of 35.7%, the user penetration in the Online Casinos market is highest Canada.

Definition:

The online casinos market refers to the segment of the online gambling industry that offers a range of traditional casino games, such as blackjack, roulette, baccarat, and slot machines, that can be played over the internet. Online casinos provide customers with the opportunity to play these games from the comfort of their own homes or on the go through various devices, including computers, tablets, and smartphones.

Additional Information

Data includes revenue figures in Gross Gambling Revenue (GGR), which is the total amount of bets placed by customers minus the amount paid out in winnings, Users, average revenue per user (ARPU), user penetration rate, and a breakdown of the product shares of the total online casino market. User and revenue figures represent B2C services.

Online slot machines such as Starburst, Mega Moolah, and Gonzo's Quest
Online card games such as poker, blackjack, baccarat, and their variants
Online roulette games such as European, American, and French roulette

Offline or land-based casino establishments such as casinos and gaming halls
Skill-based games such as chess, backgammon, and Go
Betting on non-casino games such as sports, politics, and entertainment.

The Online Casinos market in Philippines has been experiencing significant growth in recent years.

Customer preferences: Customers in the Philippines have shown a strong preference for online casinos due to their convenience and accessibility. With the rise of smartphones and internet penetration, more people are able to access online casinos from the comfort of their own homes. Additionally, online casinos offer a wide range of games and betting options, catering to the diverse preferences of customers in the Philippines.

Trends in the market: One of the key trends in the Online Casinos market in Philippines is the increasing popularity of live dealer games. Live dealer games provide an immersive and interactive experience for players, allowing them to play against real dealers in real time. This trend has been driven by advancements in technology, such as high-speed internet connections and improved streaming capabilities. Customers in the Philippines enjoy the social aspect of live dealer games, as they can interact with the dealers and other players through live chat. Another trend in the market is the growing adoption of mobile gambling. With the majority of the population in the Philippines owning a smartphone, mobile gambling has become a convenient and popular option for customers. Online casinos have optimized their platforms for mobile devices, allowing customers to play their favorite games on the go. This trend has been further accelerated by the COVID-19 pandemic, as more people are staying at home and relying on their mobile devices for entertainment.

Local special circumstances: The Online Casinos market in Philippines is influenced by local regulations and cultural factors. The Philippine Amusement and Gaming Corporation (PAGCOR) is the regulatory body responsible for overseeing the operations of online casinos in the country. PAGCOR has implemented strict regulations to ensure the integrity and fairness of online gambling activities. This regulatory framework has helped to build trust among customers and attract reputable online casino operators to the market.

Underlying macroeconomic factors: The growth of the Online Casinos market in Philippines is also driven by underlying macroeconomic factors. The country has a large population with a growing middle class, which has led to increased disposable income and higher spending on leisure activities. Additionally, the Philippines has a strong tourism industry, attracting both domestic and international visitors. Online casinos have capitalized on this tourism boom by offering a wide range of entertainment options for tourists. In conclusion, the Online Casinos market in Philippines is experiencing significant growth due to customer preferences for convenience and accessibility, as well as the adoption of new technologies. The market is characterized by trends such as the popularity of live dealer games and the rise of mobile gambling. Local regulations and cultural factors, as well as underlying macroeconomic factors, also play a significant role in shaping the market.

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.

This report presents a comprehensive analysis and additional information on the Digital market, in a PDF format.

As an industry seemingly built on chance, the odds of the global casino sector growing in the coming years appear a safe bet. Thanks to the ongoing legalization of gambling-related activities in many parts of the world, licensed casinos have expanded to new markets and generated record-breaking revenue figures. While the market size of the casino and online gambling industry suffered heavily during the coronavirus (COVID-19) pandemic, falling by nearly 100 billion U.S. dollars in 2020, the recovery has been steady. As of 2024, the industry’s market size totaled over billion U.S. dollars. At the center of this growth has been leading casino companies such as MGM Resorts, which alone generated 16.16 billion U.S. dollars in revenue in 2023. Online enterprises specializing in sports betting have also carved out significant chunks of the market share, with Fanduel and DraftKings both ranking as two of the most valuable gambling brands globally in 2024.