North America ranks second in the market in terms of revenue share. Increasing digitalization, coupled with secure mobile solutions, is likely to drive demand in the region. In the United States, three states, namely, Nevada, Pennsylvania, and New Jersey, have gambling regulations, which are driving sportsbook and betting apps demand.
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Caesars Entertainment operates about 50 properties around the U.S., with half of its cash flow coming from Las Vegas. Its key casino brands include Caesars, Harrah’s, Tropicana, Bally’s and Flamingo. It owns the U.S. portion of William Hill, an online sports betting platform.
Also, various countries have imposed a ban on gambling sites owing to the increased risk of problematic gambling behavior. Countries such as Russia, the UAE, Qatar, and Poland have imposed bans on gambling. For instance, the Telecommunications Regulatory Authority of UAE controls internet content and activity, thus preventing access to online casinos. Further, some countries such as India, Singapore, Japan, and more are likely to impose bans on the gambling industry. All these key factors are likely to hamper market expansion.
In terms of market growth, South America is expected to rise significantly during the forecast period. Countries such as Colombia and Argentina are focusing on regulating the gambling industry, which is driving investments in online gambling. Colombia has been an early adopter of internet-based gambling regulations and is expected to dominate the regional market share.
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Sports betting is expected to dominate the market during the forecast period. The growing demand for online gaming and betting practices are likely to drive the demand for sports betting. Further, growing sponsorships in online sports betting are also expected to fuel this segment.
