The Global Online Poker Market size was estimated at USD 76 Billion in 2021 and is expected to hit around USD 170 Billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 12% from 2022 to 2030.
Our research report offers a 360-degree view of the Online Poker market’s drivers and restraints, coupled with the impact they have on demand during the projection period. Also, the report examines global opportunities and competitive analysis for the Online Poker market.
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The Online Poker Market: Overview
Online poker is incredibly popular and will only continue to grow in popularity as a result of the widespread use of smartphones, acceptance of Bitcoin and other digital currencies, and ease of access to casino websites. Aiming to promote the desired level of confidence in the online betting business, technological developments coexist with the annual expansion of online poker.
For example, virtual reality in gaming creates a simulation of the surroundings; users can interact with them in a real way with specialized equipment such as gloves with sensors.
VR delivers a more realistic gambling experience, higher sound quality, and a realistic game design, as well as allowing players to interact with other players and dealers. Through the creation of new growth potential, VR has assisted the market in improving the gambling experience.
The Online Poker Market: Growth Factors
The market is being driven by expanding internet penetration as well as a rise in the number of people using their mobile phones to play online games both at home and in public. In addition, factors including legal and cultural acceptance, simple access to internet gambling, celebrity endorsements, and corporate sponsorships are promoting industry expansion. The industry is expected to grow more as a result of the affordable mobile applications that are readily available everywhere.
Online poker games place a strong emphasis on creating informational tools that help and support players, protect the integrity of gambling, and guard against fraud. Many online gambling websites provide a free-play version of their games, which presents company growth possibilities.
Many nations have legalized gambling because it creates jobs and generates more tax money for municipal and state governments. In places where casinos play a part in tourist vacations, gambling has also had a good impact on local retail sales for the hotel industry, which has helped the business grow quickly.
Additionally, the adoption of blockchain technology has significantly impacted market expansion. Transparency in gambling activity is ensured by the blockchain’s ability to make safe payments. Due to the speed and security of Bitcoin transactions, gambling offers a wide range of chances. Because bitcoin transactions are subject to fewer regulations, they are now widely employed in online gambling.
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The Online Poker Market: Key Insights
A) As per the analysis shared by our research analyst, the Online Poker market is estimated to grow annually at a CAGR of around 12% over the forecast period (2022-2030).
B) In terms of revenue, the Online Poker market size was valued at around USD 76 Billion in 2021 and is projected to reach USD 170 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
C) Usability is the main determinant of poker mobile apps’ appeal because it makes it simpler for players to play poker on their Android and iOS mobile devices.
D) The online poker sector is one of many that are consistently and quickly gaining ground in accepting and using cryptocurrency. Numerous online casinos already accept cryptocurrency deposits, while the online poker market has not yet seen much growth.
E) Even while TV shows and events undoubtedly evoke nostalgia, the year 2020 has brought a fresh perspective on live-streaming platforms to the fore. The online poker industry has also seized upon this chance, and since last year, poker live streaming on websites like Twitch, Facebook, YouTube, and others has experienced unparalleled popularity.
The Online Poker Market: Regional Landscape
Europe is expected to hold the largest share of the online poker market. The majority of the growth is attributed to the legalization of online gambling in countries such as Italy, Germany, the UK, Italy, Poland, Malta, and Spain. Moreover, the high disposable income, high spending on leisure, and growing popularity of online gambling, in the region is supporting the market growth.
Whereas, the Asia Pacific region is projected to witness a high CAGR during 2022-2030. The relaxation in government rules across Asian countries concerning online betting is boosting the market. Also, increasing spending the population on leisure activities is expected to fuel the market. However, the negative mental impact on players and bans in certain countries is hindering the growth of the market in the region.
The Online Poker Market: Key Players
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The Online Poker Market: Segments
Texas Hold’em Poker
Follow The Queen
By Payment Mode
The Online Poker Market: Geography
Rest of Europe
Rest of Asia Pacific
The Middle East & Africa
Rest of the Middle East & Africa
Rest of Latin America
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