"The American Financial Times" has released the latest data, showing that global online gambling (iGaming) is entering a new growth cycle. By 2029, the market size is expected to reach $186.6 billion, compared to $117.5 billion in 2025, with a compound annual growth rate of 12.3%.
Europe remains the center of global iGaming, holding 49.1% of the global market share. In 2024, the total gambling revenue in Europe is expected to reach 123.4 billion euros, a year-on-year increase of 5%; among which, online gambling will expand at a faster pace, with annual revenue expected to reach 47.9 billion euros. Traditional casinos still maintain an advantage, but the rise of mobile platforms is reshaping the entire landscape—by 2024, mobile devices will contribute 58% of online gambling revenue in Europe, expected to increase to 67% by 2029.
At the national level, Italy leads with a total gambling revenue of 21 billion euros, followed by the UK, Germany, and France. The UK remains the most digitalized market, with online revenue reaching 11.1 billion euros. Sweden and Finland's online share is close to 70%, while Spain is at 14%.
Meanwhile, the growth rate of the US market is equally astonishing. Data from the American Gaming Association (AGA) shows that in August 2025, the total revenue of US commercial gambling reached $6.46 billion, a year-on-year increase of 14.6%, setting a historical record. The cumulative revenue for the first eight months of this year has reached $51.14 billion, a 9% increase from the same period last year.
Among them, iGaming and online sports betting segments have shown the most significant growth, with an increase of 41.3% in August alone, reaching $2 billion, accounting for 30.8% of the total gambling revenue.
The Asian and African markets are also accelerating their presence. In Asia, the online gambling market in the Asia-Pacific region is about $23.9 billion in 2024, expected to climb to $56 billion by 2033, with an annual compound growth rate of about 9.5%.
Asian iGaming revenue is about $6.68 billion in 2025, expected to reach $7.24 billion by 2029.
The African market, although starting later, has huge potential: In 2024, the online gambling revenue in Africa is about $1.85 billion, expected to reach about $2.36 billion by 2028.
Traditional casinos still have a large volume, but the long-term trend is clear—the future of the gambling industry is in the cloud. Mobile platforms, AI-driven personalized services, and a regulated online system are becoming the dominant forces.
Currently, about 880 million adults worldwide participate in online gambling, with 80% accessing platforms through mobile devices. The scale of this industry is now comparable to streaming media and e-commerce as one of the "big three" of the digital economy.
As the global scale approaches the $186 billion mark, the next competition among iGaming operators will be even more intense.
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