1. Gambling Industry Revenue
2. Online Gambling Industry

A report on gambling and betting in Nigeria.

There are multiple definitions of betting, many of which refer to betting as the act of placing a wager on a predicted outcome of an event. Betting operates on the theory of probability and can be said to have taken place when one stakes a sum of money on an upcoming event they feel strongly about.

The Oxford dictionary defines gambling as “taking a risky action in the hope of a desired result.” On the back of this definition, a subtle, yet distinguishing factor between gambling and betting is that gambling can simply connote ‘risk-taking’ that is as benign as moving your car from under a scorching sun to the other side of a parking lot in a mall – knowing fully well that the space in the shade might be occupied before you get there, on top of losing that earlier spot too. Therefore, even though gambling may or may not involve cash stakes, betting is a form of gambling that always involves wagers; mostly in form of cash stakes. For the purpose of this piece, we will assume they can be used interchangeably.

From friends betting on how many bottles of beer they can finish to classmates betting on who will score lowest in a test, betting has always been a part of human nature. Now, just like many other activities that humans casually engage in, a capitalist society has monetized, regulated and industrialized the betting industry in Nigeria such that a range of events – mostly but not necessarily sporting, are predicted by bookmakers who offer odds for gamblers to stake wagers on.

Gambling can be defined as any activity (e.g. a game of chance or skill) where an item of value is placed at risk in an attempt to gain something of greater value.

The legalization of gambling is a major trend driving the growth of the market. At what rate is the market projected to grow? The market will accelerate at a CAGR of over 10% and the incremental. Gambling industry. The gambling industry in total is worth £14.3 billion and employs 98,174 people across the UK as of September 2019. This is down from £14.5 billion and 106,000 employees in March the same year, a change driven by more gambling taking place online than on-premises.

LONDON--(BUSINESS WIRE)--Technavio has been monitoring the casinos and gambling market and it is poised to grow by $ 82.09 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the casinos and gambling market. The market growth in 2020 is likely to increase compared to the market growth in 2019.

The online gambling industry is projected to grow at a CAGR of 8.77%, during the forecast period 2019 - 2024. This report includes the impact of COVID-19 on online gambling industry. According to a recent report by Newzoo senior market analyst Tom Wijman, the global gaming market will generate $159.3 billion in revenue in 2020. That would be 9.3 percent year-over-year growth.

Frequently Asked Questions:

• What are the major trends in the market?
  The legalization of gambling is a major trend driving the growth of the market.
  
• At what rate is the market projected to grow?
  The market will accelerate at a CAGR of over 10% and the incremental growth of the market is anticipated to be $ 82.09 billion.
  
• Who are the top players in the market?
  Boyd Gaming Corp., Caesars Entertainment Corp., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Golden Entertainment Inc., Las Vegas Sands Corp., MGM Resorts International, SJM Holdings Ltd., and William Hill Plc, are some of the major market participants.
  
• What is the key market driver?
  The growing popularity of online gambling is one of the major factors driving the market
  
• How big is the North America market?
  The North America region will contribute 50% of the market share

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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Boyd Gaming Corp., Caesars Entertainment Corp., Crown Resorts Ltd., Flutter Entertainment Plc, Galaxy Entertainment Group Ltd., Golden Entertainment Inc., Las Vegas Sands Corp., MGM Resorts International, SJM Holdings Ltd., and William Hill Plc are some of the major market participants. The growing popularity of online gambling will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this casinos and gambling market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

Casinos and Gambling Market 2020-2024: Segmentation

Casinos and Gambling Market is segmented as below:

• Platform
  • Offline
  • Online
• Geography
  • APAC
  • Europe
  • North America
  • MEA
  • South America

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41224

Casinos and Gambling Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The casinos and gambling market report covers the following areas:

• Casinos and Gambling Market Size
• Casinos and Gambling Market Trends
• Casinos and Gambling Market Industry Analysis

This study identifies the legalization of gambling as one of the prime reasons driving the casinos and gambling market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Casinos and Gambling Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist casinos and gambling market growth during the next five years
• Estimation of the casinos and gambling market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the casinos and gambling market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of casinos and gambling market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

Gambling Industry Revenue

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Online Gambling Industry

Market Segmentation by Platform

• Market segments
• Comparison by Platform
• Offline - Market size and forecast 2019-2024
• Online - Market size and forecast 2019-2024
• Market opportunity by Platform

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Overview
• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Boyd Gaming Corp.
• Caesars Entertainment Corp.
• Crown Resorts Ltd.
• Flutter Entertainment Plc
• Galaxy Entertainment Group Ltd.
• Golden Entertainment Inc.
• Las Vegas Sands Corp.
• MGM Resorts International
• SJM Holdings Ltd.
• William Hill Plc

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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