The Online Poker Market was at US$ 76 Billion in 2021 and is growing to approx US$ 170 Billion by 2030, with a CAGR growth of 12% between 2022 and 2030.

SANDY, UTAH, UNITED STATES, January 8, 2023 /EINPresswire.com/ -- According to the study, The Global Online Poker Market was estimated at USD 76 Billion in 2021 and is anticipated to reach around USD 170 Billion by 2030, growing at a CAGR of roughly 12% between 2022 and 2030.

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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.

Online Poker Market: Growth Drivers

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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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.

Press Release For Online Poker Market: https://www.custommarketinsights.com/press-releases/online-poker-market-size/

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 of 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.

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Key Players

Tencent
Playtika
Zynga Inc.
PokerStars
Arkadium
Baazi Games
com
Quadrific Media Pvt Ltd.
Pocket52
BLITZPOKER
Ignition
Americas Cardroom
BetOnline
Everygame
True Poker
Bovada
Juicy Stakes

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The Online Poker Market is segmented as follows:

By Device Type

OMobile
Desktop

By End-user

Gambling Enthusiasts
Dabblers
Social Exuberant

By Geography

North America

The USA
Canada
Mexico
Europe
The UK
Germany
France
Italy
Russia
Rest of Europe

Asia Pacific

China
India
Japan
South Korea
Malaysia
Philippines
Rest of Asia-pacific

Latin America

Brazil
Rest of Latin America
Middle East and Africa
GCC
North Africa
South Africa
Rest of Middle East & Africa

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