Online Gambling Market Accelerates on Mobile, Digital Payments
01 October 2026
The global online gambling market is on track to nearly triple over the next decade, climbing from $97.7 billion in 2023 to a projected $501.4 billion by 2033. This 422% expansion is driven by a combination of regulatory openings, maturing mobile platforms, and the integration of gambling into everyday digital payments.
Legalization and smartphone growth are spurring the industry forward.
The online gambling boom is most visible in North America, where the U.S. alone accounted for 34% of global gambling revenues in 2023. States like New Jersey and Michigan have seen explosive growth in real-money online gaming, with per-person gambling revenue now surpassing land-based casinos. Even as total wagering dipped 4.5% from the record high in 2022, the industry argues it is entering a "mature" phase: one with a built-in customer base that continues to spend within its means.
Smartphones and frictionless payments greased the wheels.
The story is similar in mobile-first markets like South Korea and emerging markets in Asia and Latin America, where smartphone adoption has soared. In Brazil, the world's 5th-largest smartphone market, live dealer casino games hit $337 million in 2023. That may seem modest compared to North America, but with 60% growth rates in 2024, Latin America could see more mobile gambling than land-based activity overall.
Yet not all the growth is positive. Gaming law experts warn that illicit or "black market" gambling is expanding just as fast, if not faster, on channels like sports betting, horse racing, and gambling on foreign sites. Much of this happens in a murky world of unlicensed platforms, third-party affiliates, and automated marketing. Signs of unethical practices have even appeared in social media advertising, a warning for those concerned about reckless behavior online.
The crackdown at regulated operators has mostly focused on prevention, with market leaders requiring KYC onboarding, and stricter monitoring of self-exclusion and age verification. Regulators and responsible operators debate how to address offenders, given the opacity of the underground market.
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Industry analysts suggest that due to restrictions on apps, unlicensed gambling—already up 4% between 2023 and 2024—will continue growing at its current pace. The iGaming sector is even exploring AI technologies to monitor at-risk players.
Millions bet on electronic sports in legal markets, but politicians and public-interest groups worry about how closely these activities resemble gambling, since their design encourages overuse.
These challenges loom over a rapidly expanding market. The most optimistic projections show the global gambling market growing to ten times its current size by 2035, with mobile platforms leading the way. This evolving story will continue to develop in the coming years.
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