In recent years, more and more countries across the world have been legalizing online gambling. The legalization of online gambling in the United States has seen significant market growth. How does its growth compare to other countries such as the U.K., Norway, Finland, Australia, etc.? Online markets vary considerably depending on regulatory frameworks, consumer preferences, and the range of products and services they offer.
Larger online gambling markets than the United States
US online casinos are flourishing, and the North American online gambling market size was estimated at USD 16.56 billion in 2024. However, the UK and Australia have larger online gambling markets. Their less strict regulatory frameworks encourage a wider range of online gambling activities. Both the UK and Australia have some major casino operators.
The online gambling market in South Korea has been experiencing significant growth in recent years. Some factors contributing to the growth are a younger, tech-savvy generation and a wide range of games and betting options. Asia-Pacific was the largest online gambling market in 2024, reaching USD 23.9 billion.
Smaller online gambling markets
Online gambling markets in countries such as Finland and Norway are smaller than those in the U.S. Both of these countries have state-owned gambling monopolies. They limit the types of products and services that restrict market growth.
Reasons for differences in growth
The regulatory environment
Countries like the U.K. and Australia have well-established regulatory frameworks. Citizens can have fun at home gambling on their mobile devices in a fair and safe online environment. Frameworks like these create trust in consumers and operators have clear rules and regulations to follow.
In countries like Norway and Finland, the state-owned gambling monopolies offer a limited range of gambling options to consumers. It is difficult for them to compete with other countries that have less strict regulatory environments.
The U.S. needs to address its regulatory challenges. The fragmented regulatory environment is different from state to state. This makes it challenging for operators.
Diversity of products and services
In the US, sports betting accounts for the majority of the market. Gambling on online casino games is only legal in seven states at present while sports betting is legal in 32 states. In the US economy under Trump, his unpredictability makes it difficult to know what to expect when it comes to gambling legislation in the future.
Casino slots tend to generate the most online revenue. When it comes to table games, blackjack continues to be one of the biggest revenue generators.
In countries like the U.K. and Australia, the range of products and services is more comprehensive. When consumers have more options to choose from, it stimulates market growth. Canada and South Korea both offer a wide variety of online gambling activities to consumers.
Drivers of online market growth
Consumer preferences
Consumer attitudes towards online gambling and their preferences play a significant role in market growth. In some countries, gambling is less culturally accepted. It may either be illegal in these countries or harder to introduce. The United States isn’t the only country where sports betting is so popular. Sports betting and betting on horse races are both popular in Australia.
Technological advances
The ability to access online gambling from mobile devices increases convenience and accessibility. Mobile payment systems and e-wallets may be safe and easy to make deposits and withdrawals.
The barriers to entry are lower, which attracts more consumers. Mobile apps and high-speed internet facilitate a seamless experience for gamblers. In most countries, 80% of all online gamblers use their mobile phones.
Marketing and promotion
Efficient marketing and promotion of online gambling can also promote growth. Appealing to consumers and highlighting the benefits of online gambling can attract new customers.
Promotions, such as free bets or deposit bonuses, can incentivize customers. In the U.K., gambling operators will often sponsor large sports events, and the same is happening in the U.S. where gambling platforms will sponsor major sports leagues.
