By TheNuts - Aug 01, 2025
Global Online Gambling Revenue Predicted To Triple By 2034
A new analysis on the global
online gambling sector predicts that it is set to enter a rapid growth phase and will nearly triple in size over the next decade.
According to
Zion Market Research, the online gaming market will be worth $220.85 billion by 2034, up from $78.77 billion in 2024, reflecting a compound annual growth rate (CAGR) of 10.86% between 2025 and 2034.
This expansion is likely to be driven by a mix of increased smartphone and internet access, new technology, progressive legislative changes, and altering consumer tastes for online gaming. The report also mentions that the online gambling boom is a global phenomena, spreading swiftly throughout Asia-Pacific, Latin America, Africa, and the Middle East.
Mobile-first platforms, live dealer real-money online casinos, and crypto-based gambling are likely to foster widespread acceptance in emerging markets, as regulatory frameworks evolve in countries such as India, Brazil, and certain US states. Analysts predict further growth in social gaming, esports betting, AI-driven personalization, and development into underserved markets like Southeast Asia and Sub-Saharan Africa.
The research also predicts hurdles, such as cybersecurity threats, payment limits, and concerns about problem gambling, all of which threaten to impede progress.
While the global online gambling industry grows, a
recent analysis reveals that in the United States, illegal operators continue to receive the majority of online gaming revenue.
The new report, commissioned by the Campaign for Fairer gaming and collated by market intelligence firm Yield Sec, concluded that unregulated offshore platforms accounted for 74%, or almost $67 billion, of the nation's total $90.1 billion in online gross gaming income in 2024. Meanwhile, licensed operators, such as the best sports betting sites, generated only $23 billion.
According to the survey, there are 917 illegal gambling sites in the United States, with 668 affiliates, six times the number of regulated gaming sites. It also revealed that these unlawful websites leverage high-profile sporting events and media coverage to entice American players while skirting tax and gambling regulations.
States with little or no gambling restrictions, including Texas, California, and Ohio, were shown to be the most vulnerable. Ohio alone recorded $5.26 billion in illegal gaming revenue in 2024, the highest per capita total in the nation. Even in states with legal online gambling, such as Pennsylvania and New Jersey, illegal businesses maintained a sizable market share.
The analysis concluded that legalizing online gambling does not automatically eliminate the black market, and Derek Webb, founder of the Campaign for Fairer Gambling, underlined that more enforcement is required to combat unlawful gaming and protect consumers.