The global online poker market is expected to crest the $283 billion mark in a decade, according to a market research firm’s most recently report on the industry.
Complied by ResearchAndMarkets.com, a firm that does exactly what its name say, the 112 page report gives a detailed “analysis of current market dynamics and insights into future growth prospects.”
The report is predicting the global online poker market will hit $283.42 billion by 2032, nearly $200 million more than the current global market of around $96.8 billion.
Researchers promise growth
The authors of the report joins a chorus among market researchers that predict steady growth within the global online poker industry in the next decade. Depending on the report and the firm, the compound annual growth rate (CAGR) of online poker in the next seven to 10 years will be between 12% and 13.5%.
ResearchAndMarkets.com’s newly released report puts the CAGR at 12.7%.
It’s still not as bullish as Virginia-based Zion Market Research’s report, which is predicting a CAGR of 13.5% through 2030. This would put the global market share at $237.5 billion in 2030, and around $305 billion in 2032.
Its optimism is based in part on the fact that more and more people around the world are being hooked to the internet. According to the Zion Market Research’s report, close to 100 million people were newly plugged into the internet just this year.
ResearchAndMarkets.com’s authors agree that internet access will be the “driver.”
“The primary driver of the online gaming market is the widespread availability of high-speed internet and mobile technology, providing players with convenient access to a diverse range of games anytime, anywhere, without the need to visit physical casinos or gaming establishments,” reads a sample from the report.
Here are some highlights:
- The smartphone segment is expected to witness the fastest growth, driven by the proliferation of smartphones, making online poker more accessible and convenient for players worldwide.
- The Gambling Enthusiast segment will dominate the market, focusing on attracting and retaining this segment through quality games and engaging rewards.
- Europe is expected to dominate the market in the forecast period. Europe’s favorable regulatory environment established a gambling culture and access to advanced technology, making it a dominant online poker market.
Authors focussed on all the major online poker companies, including Tencent, the 888 Group, Partypoker, GGPoker, Baazi Games, Bovada, MPL, PokerStars, American Card Room, BetOnline, Ignition, Pocket52, Arkadium, 24/7 Games LLC, Delta Corp Limited, and Caesars Interactive Entertainment (World Series of Poker brand).
The global online poker sector is predicted to grow despite the complexities, mainly thanks to the rules of the different countries and jurisdictions the sites must follow. There’s also the global threat of online poker cheating, which the sites are constantly forced to fight.
Want to know more?
The full report, called “Online Poker Market Share, Size, Trends, Industry Analysis Report, By Game (Texas Hold’em Poker, Omaha, 7-Card Stud, 5 Card Omaha, Others), By Device, By End-User, By Region, Segments & Forecast, 2023 – 2032,” costs $4,250.
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