London, UK -- (SBWIRE) -- 02/05/2020 -- The gambling market consists of sales of gambling services and related goods by entities that operate gambling facilities, such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting.

Gambling is the act of wagering money or something of value on an event with an uncertain outcome that is not under gambler control, with an intent of winning money. Bingo parlors, coin-operated gambling device concession operators, bookmakers, lottery ticket sales agents, and card rooms are also included in this market. The gambling market also includes sales of gambling services and related goods by entities that operate casino hotels.

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The Gambling market is segmented by specialty, by product type, by sales channel and by geography.

By Product Type - The gambling market can be segmented by product type into
a) Casino
b) Lotteries
c) Sports Betting
d) Others

The lotteries segment was the largest segment of the gambling market in 2018 at 46.1% or $207.3 billion. The sports betting segment is expected to be the fastest-growing segment going forward at a CAGR of 6.9%.

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By Channel Type - The casino, lotteries, sports betting, and others segments are further segmented by sales channel into
a) Offline
b) Online
c) Virtual Reality (VR)

Offline gambling was the largest segment of the casino market by sales channel in 2018 at 94.3%. The VR gambling segment is expected to be the fastest-growing segment going forward at a CAGR of 21.7%.

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Asia-Pacific was the largest market for gambling, accounting for 32.7% of the global market in 2018. It was followed by North America, Western Europe and then the other regions. Going forward, Asia-Pacific and Africa will be the fastest growing regions in the gambling market, where growth will be at CAGRs of 7.9% and 7.7% respectively. These will be followed by South America and Eastern Europe where the markets are expected to grow at CAGRs of 6.13% and 6.12% respectively.

Major competitors of Global Gambling Services Market are China Sports Lottery, China Welfare Lottery, Sociedad Estatal Loterías y Apuestas del Estado S.A., Las Vegas Sands Corporation, Japan Takarakuji lottery.

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