A new report on online gambling has been released and it reconfirms the expectations created by earlier research. The online gambling market is growing and growing at a fast rate. The report has been released by Research and Markets and bears the rather long and specific title "Global Online Gambling & Betting Market - by Gaming Type, Device Type, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2017-2023)".

The report asserts that the global online gambling market was worth $143.32 billion in 2017. It is estimated to increase with a cumulative average growth rate of 11.8% per year almost doubling to $279.8 billion by 2023. Online gambling, for the purpose of the report, covers all verticals including casino, poker, sports betting, lottery and other games offers to customers through Internet based digital platforms. Customers participate in these activities in real time through their Internet-enabled electronic devices.

The report cites several reasons for this growth. The most significant is the growing disposable income of consumers. People will undertake such entertainment activities only after their more important financial needs are fulfilled. Regulation of online gambling service providers and electronic payment providers has engendered trust. Growth in penetration of the Internet is leading to more and more people adopting Internet based devices. The technological advancements in the hardware and software are resulting in products that are coming closer to land based gambling options.

The report points out that the Europe region is expected to lead global online gambling in forecast period as far as absolute numbers are concerned. The last five years have ushered in a regime of regulated online gambling by national authorities. And this has led to market expansion in countries like the United Kingdom, France, Spain and Italy. Asia Pacific is expected to have highest growth of around 14 % due to relaxation of laws leading to growth in participation of wagers through Internet. The United States has fantastic potential, but the move towards legalisation and regulation is slow.

The report has also segmented the market along online gambling verticals. The different segments covered include poker, casino, social gaming, lottery, bingo, sports betting and fantasy sports. Segmentation has also been done according to device type, which include desktop, mobile and tablet. The report also includes profiles of the leading companies that contribute to the online gambling sector, both operators and games suppliers. Some of them are 888 Holdings, NetEnt, Playtech and IGT.