Gambling market to grow by $260 billion from 2022-2027

The gambling market size is set to grow by USD 260.44 billion between 2022 and 2027 and register a CAGR of 7.1%, according to Technavio's latest market research report.

North America is expected to contribute 37% to the development of the global market. The demand for online gambling in the region is growing at a rapid pace because of the rise in the number of mobile application platforms.

Previously, the adoption of online-based gambling games, such as online poker, online bingo, and online lottery, was limited because of the lack of availability of online platforms, such as web applications and mobile applications. The increasing use of websites and applications for online gambling and the rising penetration of smartphones has enabled vendors to launch online-based gambling games, which is expected to fuel the demand for online gambling in North America, fostering the further growth of the market in focus during the forecast period.