In-game Gambling and Loot Boxes Market

In-game Gambling and Loot Boxes Market Outlook

The in-game gambling and loot boxes market is expected to expand its roots in the global market at an average CAGR of 5.6 % between 2022 and 2032.

The market is valued at US$ 18.9 bn in 2022 and is likely to reach US$ 32.7 Bn by 2032. Previously, the market was thriving at a higher CAGR of 7.8% (2015-2021), resulting in a market size of US$ 17.9 Bn in 2021.

“In-game Gambling and Loot Boxes market thrive as the E-sports and online gambling industry rises, penetration of 4G and 5G networks and latest smartphones fuel the growth and provide the online platform to gamble and win prizes.”

As prices of smartphones fall in many regions and penetration of the internet increases, people look for new entertainment options where they can win money. Multiple developed and developing economies have legalized online sports betting, which pushes the In-game gambling and loot boxes market.

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What is the COVID-19 Impact on the In-game Gambling and Loot Boxes Market?

Covid-19 has impacted multiple global markets by rearranging the supply chains due to the market restrictions and logistics bans introduced by governments around the world. The spread of coronavirus positively impacted a few industries.

In-game gambling and loot boxes market is one of that handful of markets. As covid-19 spread and governments introduced lockdowns, entertainment was the only option left through screens. Many people have indulged themselves in the world of online gaming since the advent of the novel coronavirus.

As lockdown continued for a long time, the in-game gambling and loot boxes market flourished. In addition, online gambling apps for mobiles and desktops expanded their gambling offering to lure the gambling community.

New games involving live streams and live chat features are also pushing the e-sports players to get involved and promote online gambling amongst the masses, pushing the In-game gambling & loot boxes market.

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What Factors Contribute to the Growth of the In-game Gambling and Loot Boxes Market?

Online gambling has become a part of the technological and social media revolution, adding more and more players, making strategies, and creating an ecosystem for e-sports that woos more people to join the community.

It upgrades the technological sphere in gaming by introducing concepts like the Internet of things (IOT), Machine Learning, Artificial Intelligence (AI), Live Chat Box, and Edge Computing. This allows users to have a unique experience of virtual reality. From proportionally betting to using ML for predictive decision making, the In-game gambling and loot boxes market rises only.

Its contribution to social media is to upgrade it to a platform where the gaming/gambling community can socialize and make teams play.

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What Limits the Growth of the In-game Gambling and Loot Boxes Market?

Rising cybercrime around the internet, including gambling-related and money-related frauds, is increasing day by day, restraining the In-game gambling and loot boxes market.

Another factor that limits the growth of the in-game gambling and loot boxes market is the fake apps and their app-based tracking that puts a threat on users’ security. Compulsive gambling, or the habit of gambling, also affects one’s life, personal relationship, and health.

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What are the Opportunities Prevailing in the In-game Gambling and Loot Boxes Market?

Multiple countries legalizing online gambling platforms provide space for technological giants to experiment with the latest technology in the gambling business.

The industry grows excessively as new competitors join every day. The advent of the metaverse is also likely to revolutionize the idea of online gambling, pushing the sales of In-game gambling and loot boxes market.

Metaverse and Virtual reality platforms provide a space for users to socialize and discuss real-time developments related to games and more. The concept of blockchain attached to In-game gambling is expected to dig more opportunities, including integration of blockchain technology in online gambling and e-sports to deliver an enhanced gaming experience to the end user.

What are the Challenges in the In-game Gambling and Loot Boxes Market?

Data security regarding payments, accurate time user tracking, and high money risk are significant challenges that the in-game gambling and loot boxes market face.

There are a lot of fake apps that lure the users by offering huge discounts and money and then stealing important data related to the user through real-time app tracking, third-party cookies, and cache. Another challenge for in-game gambling and loot boxes market is the various government putting heavy taxes on transactions and red taping the industry.

The government concerns over their national security are also forcing them to ban foreign apps that hinder the individual security and privacy of their citizens.

Comparative View of Adjacent In-game Gambling and Loot Boxes Market

Comparative View of Adjacent Online Gambling Market

Comparative View of Adjacent Video Game Loot Box market

Concepts like Machine learning, Artificial Intelligence, Predictive decisions, and Blockchain technology integrate with the latest game technology and give the end user a unique gaming experience.

Companies now are working on summing up these technologies to give an experience of virtual reality to their end users, expanding in-game gambling and loot boxes market size in new regions.

The concept of the metaverse is likely to revolutionize Web 4.0 and provide users a space where they can interact with things with cognitive actions and control over reality. Gambling in the world of virtual reality is expected to bring a new experience to the users, pushing the sales of In-game gambling and loot boxes.

Developers adding machine learning-driven decision-making systems in gambling are expected to add more adventure elements to the online gambling experience as it applies the concepts of probability in the game, increasing the competition. This fuels the sales of In-game gambling and loot boxes.

What is the Segmentation Outlook for the In-game Gambling and Loot Boxes Market?

The In-game Gambling and Loot Boxes market is categorized by game type and end user. These categories are further segmented into small segments that are expanding their roots in new market spaces.

As the government opens up and legalizes online gambling that pushes In-game Gambling and loot boxes market. The game category is divided into sports betting, casino, lottery and bingo while the end user category is segmented into desktop and mobile.

Which Segment is Likely to Lead the In-game Gambling and Loot Boxes Market by Game Type?

By game type, the casino segment holds the largest portion in the market and is expected to be at the top in this category in the forecast period. Casino segment is thriving at a CAGR of 5.2% between 2022 and 2032.

The factors behind the growth of this segment are the extreme popularity of this card game around the world, easy rules and better optimization of the game in the online world. The sports betting segment is also growing at a strong growth rate. It involves betting on football, baseball, cricket etc.

Which Segment is Likely to Lead the In-game Gambling and Loot Boxes Market by End User?

By end user, the mobile segment is the most lucrative segment in the in-game gambling and loot boxes market, expanding its space at a CAGR of 4.8%. It is likely to hold the biggest portion of the global In-game gambling and loot boxes market during the forecast period.

The factors that put the mobile segment on top of the desktop segment are easy to understand. A smartphone provides users with an interactive interface that multitasks and holds has higher mobility. The penetration of smartphones is high in both developed and developing countries, which makes it the top segment in the end user category.

Which is the Leading Region in the In-game Gambling and Loot Boxes Market?

The in-game gambling and loot boxes market is divided into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe. The biggest market is the United States, which is thriving at a CAGR of 5.4% between 2022-2032.

As a result, the region is expected to hold a market revenue of US$ 4.7 Mn by the end of 2032. The factors behind the excessive growth of this region in the In-game Gambling and Loot Boxes market are high penetration of 5G internet networks, availability of powered smartphones, and growing popularity of online gambling covering sports betting to betting games.

Chinese region will hold US$ 0.8 Mn by the end of 2032 as it thrives on a solid CAGR of 4.9% between 2022-2032. United Kingdom (UK) also grows along with China with the forecasted value of US$ 0.5 Mn (2032) at a CAGR of 4.6% between 2022-2032, expanding the in-game gambling and loot boxes market size.

How does Competition Influence the In-game Gambling and Loot Boxes Market?

The global study on In-game gambling and loot boxes market explains that the market is growing excessively and holds scope for new companies that deliver new technologically based platforms that provide better gambling experience. The companies focus on new collaborations, upgrades and marketing campaigns to expand the In-game gambling and loot boxes market size.

• William Hill PLC has taken over Mr. Green and Co. And has launched a new initiative that is expected to strengthen its foothold and expand its roots in Scandinavian region, expanding the In-game gambling and loot boxes market size.
• Bet365 is setting up a 19000 square feet office space in Marlton in order to expand its deliverance capacity, especially in US markets.
• Playtech has decided to extend its collaboration with Flutter entertainment for next five years and will support flutter’s brands like Sky Casino, Paddy Power and Betfair with its technology, expanding In-game gambling and loot boxes market size.

Report Scope

Key Segments:

By Game Type

• Sports Betting
• Casino
• Lottery
• Bingo

By End User

• Mobile
• Desktop