Catch up with the latest global online gambling stats as global iGaming grows 22.7% and the industry looks to break a $ 100b milestone! (Photo by Karolina Grabowska pexels)
In a new study covering global online gambling revenue, the figures reveal that the industry could record a value of $ 95.05 billion (€ 86.25 / £ 73.92) in 2023. Within these figures, the study reports global iGaming grew 22.7% from Q1 2022 to Q1 2023.
In terms of Canadian dollars, the industry will crush the 100-million mark at C$ 125.84 and New Zealand Dollars NZ$ 154.37. When we start to include Indian Rupee in this figure, that’s a crazy ₹ 7.82 billion. And in South African Rand, we are looking at R 1.7 billion.
The actual figure is yet to come, and delays in reporting mean we won’t see that until probably mid-2024. Yet despite the real numbers still to come, it seems the online gambling industry is on course for a global value of $ 100 billion in USD.
As for the growth rate on a yearly basis, predictions show global gambling online could rise as much as 8.54% YoY after 2023.
I’d venture as far as to say 8% to 9% rather than add the ‘.54%’, but the analysts and strategists love accuracy rather than being on the safe side. If growth is spot on at 8.54% then fair play to the researchers and mathematicians out there. And I am sure they derive from astute calculations coming out of the latest Q1 2022 to Q1 2023 figures.
Are you one for stats? If you are, then you’ll love the Casinoplusbonus iGaming financial news section. We deliver gambling stock updates, company financial performance reports, and a wealth of interesting stats from across the global online gambling sphere.
iGaming Shows a Huge 22.7% Increase
Online casinos, poker, bingo, and lottery iGaming verticals as a whole reported year-on-year growth from Q1 2022 to Q1 2023 as 22.7%.
As a journalist with my ears to the ground and eyes firmly on the news every day, even I am surprised at the exponential growth reported for this online gambling vertical alone.
However, when you see just how quickly brands like Pragmatic Play spread across Spanish-speaking Latin American countries last year, then it does make sense. Also, let’s not forget Portuguese-speaking Brazil with 200 million people. Online gambling sites and software providers have access to a population of 425+ million people. Add on Mexico in North America and that’s another 127+ million target audience.
Considering the UK’s established online gambling market, the UKGC confirms there are 20 million from a population of 67+ million who gamble, that’s 29.9% of the population. Add South America and Mexico to form a Latin American online gambling population of 552 million and let’s say half of the UK’s 29.9% gamble. That’s 14.45% of 552 giving us 82.6 million people likely already gambling in the region.
Add growth across Africa, and Eastern European countries and the growth of iGaming now available in several US states, and 22.7% makes a lot of sense.
| Statistic | Q1 2022 | Q1 2023 | 2027 Projection |
|---|---|---|---|
| Global iGaming Revenue | $75.2 billion (approx) | $95.05 billion | $131.9 billion |
| US iGaming GGR | $1.20 billion (approx) | $1.48 billion | – |
| US Online Casino Revenue | $5.06 billion (approx) | $6.29 billion | $10 billion |
Summary of Stats & Figures from the Global Online Gambling Financial Report
Below there are a few more interesting stats coming from the report published on Business2Comminity website. A global business news and information magazine online also renowned for its research.
- Annual growth rate for global online gambling revenue is predicted to be 8.54% post-2023.
- Expected global online gambling market volume by 2027 is $131.9 billion.
- Interactive gambling gross gaming revenue (GGR) in the US in Q1 2023 was up by 23% year-on-year.
- iGaming GGR from Q1 2022 to Q1 2023 saw an increase of 22.7%, reaching $1.48 billion.
- Online casino revenue in the US is expected to reach $10 billion by 2027, up from an estimated $6.29 billion in 2023.
- The expected annual growth rate for US online casino revenue from 2023 to 2027 is 11.75%.
- The gambling industry is expected to have a job growth rate of 17% by 2031, which is three times faster than the average growth rate of 5% for other industries.
- Approximately half of all Bitcoin transactions are now related to online gambling.
- Around 52% of online gamblers in the US are within the 18-34 age bracket.
- 38% of American adults who gambled online for money in the year leading up to the 2021 study were aged between 25-34, and 15% were aged 18-24.
- Globally, 22% and 9% of online gamblers fell into the 25-34 and 18-24 age groups, respectively.
- One in five Americans, or 20%, play casino games at least once a month.
- 60% of survey respondents reported that they never participate in casino games, while 9% of respondents stated they bet on casino games at least once a week.
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