The global online poker market size was worth around USD 86.2 Billion in 2022 and is predicted to grow to around USD 237.5 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 13.5% between 2023 and 2030. The report analyzes the global online poker market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the online poker industry.
A deck of cards is used in the well-known card game of poker, in which players fight against one another by placing bets based on the card values in their distinctive poker hands. Players have two options after the poker game is over: they can exchange their chips for cash or use a formula to decide the winner. Players use coins to place wagers. Since it was first created and was originally played traditionally, poker has changed. ‘
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Players can now play poker from the comfort of their homes on a variety of online poker gaming sites. Live Dealer Poker games are gaining recognition and attracting a lot of players due to their distinctive and captivating playing styles. The appeal of live poker games, such as 2 Hand Casino Hold’em, Texas Hold’em Bonus Poker, Live Caribbean Stud Poker Evolution, Live Casino Hold’em Evolution, etc., has grown significantly in recent years. Poker players consistently seem to find it exciting & comfortable to play against live dealers while seated in the comfort of their homes in a realistic casino gaming environment.
● Key Insights
• As per the analysis shared by our research analyst, the global online poker market is estimated to grow annually at a CAGR of around 13.5% over the forecast period (2023-2030).
• In terms of revenue, the global online poker market size was valued at around USD 86.2 billion in 2022 and is projected to reach USD 237.5 billion, by 2030.
• The growing penetration of the internet coupled with the rising demand for smartphones is expected to fuel the growth of the online poker market over the forecast period.
Online Poker Market: Growth Drivers
● Increasing adoption of smartphones and rising internet penetration drives market
The increasing adoption of smartphones and rising internet penetration is expected to drive the growth of the market during the forecast period. For instance, according to the GSMA, a mobile phone is now used by more than two-thirds of the world’s population, with 5.44 billion “unique” mobile users in January 2023. The number of cellular connections connected to smartphones is growing, and the most recent statistics show that smartphones now make up about 4 in 5 of the mobile phones currently in use worldwide. Similarly, according to the same source, by the beginning of 2023, 5.16 billion people will be using the internet worldwide, or 64.4 percent of the world’s population. Internet users continue to grow too, with the latest data indicating that the world’s connected population grew by close to 100 million users in the 12 months to January 2023. Thus, the aforementioned facts support the global online poker market growth during the forecast period.
● Adverse impact on mental health impedes the market growth
Online gambling is becoming more and more popular, which is having a negative impact on mental health. The growing addiction to widely accessible online gambling platforms makes it difficult for users to keep their mental equilibrium. Owing to this addiction, the number of suicide cases has been increasing year after year. Thus, this is expected to act as a major restraining factor for the online poker industry expansion over the forecast period.
● Adoption of blockchain technology
The adoption of blockchain technology has also had a big impact on the global online poker market expansion. In addition to conventional payment methods, blockchain payments are now being accepted by gambling apps and websites. For instance, BitStarz, a site for bitcoin gambling, has about 4 million regular users. The blockchain can ensure secure payments with transparency in gambling activity through blockchain ledgers. Gambling through cryptocurrency offers vast opportunities as they are fast and safe transactions. With fewer regulations and restrictions for cryptocurrency transactions, they are now widely used by users in online gambling. Thus, the adoption of blockchain technologies is expected to provide an attractive opportunity for market expansion over the forecast period.
● Bans on online gambling pose a major challenge
The bans on online gambling are expected to pose a major challenge to the market growth over the forecast period. Due to the increased risk of problematic gambling behavior, many nations have outlawed gambling websites. Countries such as Russia, UAE, Qatar, and others have imposed bans on gambling. Thus, acting as a major challenge.
This market research study on Online Poker covers the industry in full, with revenue estimates and forecasts in USD for the following segments from 2023 to 2030:
Online Poker Market, By Type
Online Poker Market, By Application
● Gambling Enthusiasts
● Social Exuberant
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• In November 2022, PokerStars, the market leader in online poker, launched a brand-new Spin & Go offer that is only available in the specialized Italian market.
• In November 2022, Entain, a gambling company headquartered in the United Kingdom, received five new licenses in Germany, including its first for online gaming and poker. The five-year licenses, granted by the Saxony-Anhalt State Administrative Office, will enable Entain’s bwin, Ladbrokes, and SportingBet brands to offer online gambling.
• In November 2022, Spartan Poker, India’s most trusted and premium poker platform, introduced the first edition of the Legend Poker Series just in time for the new year. The three-weeklong non-stop poker championship, which runs from November 24th to December 11th, 2022, has a reward pool of 25 crores and Rs. 75 lahks in leadership board prizes. The buy-ins begin at Rs 550, enabling low-stakes players to compete for a place on one of six stellar leaderboards—a first in Indian poker history.
Contributors to Online Poker Market
The Online Poker industry has exploded in recent years and shows no signs of slowing down. As a result, the industry has become extremely competitive. Here are some of the game’s top players who are benefiting from the surge in popularity:
• the 888 Group
• Ignition Casino
• Playtika LTD
• Zynga Inc.
• Baazi Games
• Quadrific Media Pvt Ltd.
• BLITZ POKER
• Americas Cardroom
• Every game
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Europe is expected to dominate the market during the forecast period
Europe is expected to dominate the market during the forecast period. The growth in the region is attributed to the legalization of gambling games such as poker, sports betting, and others. These games are very popular in countries including Spain, Italy, France, and Germany. Moreover, the presence of high-speed internet coupled with the growing penetration of smartphones is another important factor that propels the market expansion in the region. For instance, as per Eurostat, the European Commission established a 2030 goal to have gigabit connectivity in every EU home and 5G coverage in every populated region.
The rollout of fixed very high-capacity network (VHCN) networks across the EU has already made major progress. Compared to 2013, only 16% of EU homes had access to high-speed internet in 2021. Low-density regions saw an improvement in VHCN connectivity as well. In the EU, the percentage of households with fixed VCHN connections grew from 4% to 37% between 2013 and 2021 in low-density areas. Despite these advancements, entry levels vary considerably between EU Member States as well as within many Member States depending on population density. In addition, according to the GSMA, Mobile technologies, and services contributed 4.6% of Europe’s GDP in 2020, adding more than €740 billion in worth to the economy.
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