William Hill PLC, Playtech PLC, and Paddy Power Betfair PLC were the dominant players in the global online gambling and betting market in recent years, according to the findings of a new report.
But they weren’t alone. The market had also seen the names Amaya, Inc., and Ladbrokes Coral Group PLC marked as highly promising players expected to generate larger shares for themselves over the coming years.
Per the research report released by Transparency Market Research, the overall competitive landscape in the global online gambling and betting market is expected to become consolidated after experiencing a growth in the number of mergers and acquisitions.
The nature of the market leaves very little scope for service differentiation which is currently restricting the entry for new players. Furthermore, the policies and regulations surrounding online gambling and betting are also highly stringent in several regions, leaving little scope of growth for new entrants.
The global online gambling and betting market is expected to reach 96.89 billion by 2024. The market is projected to expand at a CAGR of 10.8% from 2016 to 2024, and is expected to reach $42.63 billion by the end of 2016.