iGaming Industry Overview 2025: Trends, Companies & Future Outlook

Whether you’re part of the iGaming industry or just close to it, you’re undoubtedly aware of the whirlwind shifts that are currently happening. From online casinos to sports betting, the gambling industry is projected to exhibit strong growth trajectories of 3.21% between 2025 and 2029, according to Statista. With increased regulations in countries worldwide, constant technological innovations, and the still-increasing post-pandemic digital acceleration, 2025 might just be a pivotal year for change and growth within the iGaming industry.

Once a niche market, today, it is a multi-billion-dollar global community encompassing online casinos, sports betting, lotteries, poker, and much more. The industry is evolving at a rapid pace, side by side with tech innovation and changing player expectations. We’ll start off with where iGaming stands today and lead you to where it’s headed next.

The iGaming industry encompasses all gambling or betting activities conducted online, including casino gambling, sports betting, and other forms of gambling, like lotteries and bingo. Keep in mind that the iGaming industry does not include land-based gambling, although we’re talking about the same basic forms. Instead, we’re talking about gaming online using your desktop and mobile devices, and also live streaming.

It might sound unbelievable, but the foundation of the iGaming industry was laid all the way back in 1994 when Antigua and Barbuda passed the Free Trade and Processing Act, which allowed gambling licences to be granted to companies looking to offer such services online.

The same year, Microgaming developed the first online casino software. In the two years that followed, we saw the birth of Intercasino, the first to accept a real money wager online, although with modest selections of games. Even though the graphics were not even close to what we know today, the entire industry sparked interest.

In the early 2000s, we saw more online gambling platforms appear with more revolutionary gaming libraries and sports betting markets. During this period, governments began regulating the industry by establishing robust regulatory frameworks. For example, in 2001, pursuant to the Gaming Act, Malta established the Malta Gaming Authority (MGA) to oversee and regulate the industry. In the United Kingdom, as per the Gambling Act of 2005, the government established the United Kingdom Gambling Commission (UKGC) to add more structure to the industry. However, there was still work to be done regarding the legal status in certain jurisdictions.

With the emergence of mobile and live dealer games in the 2010s, we also witnessed a turning point as more markets legalised and regulated iGaming. The 2018 repeal of PASPA in the US led to the state-by-state regulation of sports betting, while countries in Europe, Latin America, and Africa introduced more regulatory frameworks.

Although the 2020 COVID-19 lockdowns caused numerous problems for the land-based industry, the iGaming sector profited. Many traditional casinos were forced to go online, and more players of different demographics turned to online gaming. Alongside, we saw technologies like AI, VR, and blockchain making strides in the iGaming industry.

Now, the industry is laying the groundwork for its next phase of growth, with stricter regulations and a new wave of technological innovation.

There are various segments within the iGaming industry. Each segment caters to different player preferences, and it even comes with different regulatory frameworks and revenue models. To clear things up, here are the two main segments broken down:

Definitely the most lucrative segment of the industry, as it’s driven by high player engagement. There’s a lot of innovation in this segment, and the possibilities for improvement among the following:

Wagering on sports events is not a new phenomenon, but online betting offers a more diverse range of niche betting options across various global markets. Furthermore, legalisation in certain regions opens the doors for new markets and fosters competition among operators, which bodes well with bettors.

Online sports betting also includes additional features that you might not be able to take advantage of with your local bookie, like live betting and bet builders. All of that, and more, enhance interactivity and allow for greater control among bettors.

This year has certainly had an impact on how the iGaming industry is being shaped due to ongoing tech innovations, regulatory improvements, and, of course, changing player behaviour. The latter is what concerns the industry leaders the most — how users interact and what they expect from platforms.

The current golden standard in the iGaming industry (and likely to remain so for the foreseeable future) is mobile-first gaming. We don’t say this lightheartedly — over 60% of iGaming traffic comes from smartphones and tablets. On-the-go gambling remains the first choice in 2025, as well, so operators that don’t perform well on mobile screens are a step behind right from the get-go.

As casino gambling was primarily a social activity, it is no wonder that current trends aim to boost retention through increased interactivity. This is reflected in features such as chat rooms, community jackpots, friend invites, referral bonuses, loyalty systems, unlockable content in casino games, and more.

AI also plays a crucial role in the iGaming industry, providing a safer and smarter player experience. Players can benefit from personalised game recommendations, which are based on user behaviour. This bodes well for players seeking a more tailored experience that’s far from feeling intrusive.

Something that will likely appeal to iGamers is multi-vertical platforms that enable a hybrid experience. Casinos and sportsbooks in one place are already a thing, but some operators are slowly adding poker and fantasy sports to create a seamless user experience. Not only can players benefit from unified loyalty promotions, but they can also take advantage of single-wallet systems and integrated hubs.

There are too many iGaming companies to count, but it’s quite easy to single out those that stand out thanks to their continuous innovation, tech stack, and even partnerships. Operators like DraftKings, Bet365, BetMGM, and Flutter Entertainment (owner of FanDuel and PokerStars) underscore the importance of prioritising the user experience by leading the market in 2025 as well.

Simultaneously, providers such as Pragmatic Play, Playtech, and Evolution keep players on their toes when it comes to new releases and innovation in the gaming sphere.

It’s safe to say that the regulatory aspect of the iGaming industry has been more active and more fragmented in 2025 than ever. While some countries frown upon online gaming and set strict restrictions, others openly embrace it to boost tax revenue and consumer protection.

However, different jurisdictions have different approaches when it comes to iGaming, which is crucial for not only operators but also investors and affiliates to know and navigate.

For example, both the US and Canada have country- and province-specific jurisdictions and legalizations, meaning there are no nationwide restrictions. However, offshore online gambling is not officially prohibited in Canada, while it is in the US, imposing further restrictions for players.

Additionally, global markets like Europe and Latin America have country-specific regulations. For comparison purposes, Europe leads the pack with mature regulations and known jurisdictions like the UK Gambling Commission, Malta Gaming Authority, and jurisdictions in the Netherlands, Sweden, Spain, and Germany. On the other hand, regulated online gambling is on the rise, and it’s expanding fast, with Brazil currently being the most exciting market.

It’s worth mentioning the regulated but cautious gambling market in Australia and state-level regulations in India, while Africa focuses more on online sports betting and a mobile-first approach.

We have already mentioned some technologies and innovations that have proven to dominate the iGaming industry, but what about technologies that are lurking around the corner?

There are plenty of them, to be honest, with AR and VR being the most prominent ones. Augmented and Virtual Reality systems will offer more immersive environments for online gambling, allowing players to even move through virtual casinos and sit at virtual tables. This will not only impact how live casino games are played, but it might also leave a footprint in the social gaming sphere.

We might also see modular game engines that will allow for faster development and even real-time game optimisation, which will help cater to player preferences. Something similar might come from neurotech and biometric feedback, as early testing stages have shown that these features can rely on emotional AI and pulse monitoring to personalise gameplay.

It’s not strange that this industry is on an upward trajectory — it’s a driven powerhouse that continues to be fueled by regulatory expansion, digital changes, and different user habits.

In 2024, the online gambling market on a global level was valued at USD 95.5 billion. It’s predicted to grow at a CAGR (Compound Annual Growth Rate) of 10.5%, meaning it should reach USD 257 billion in 2034. Key verticals that are driving this growth include online sports betting, live dealer games, esports, and fantasy sports, alongside mobile-first casino operators. Furthermore, regulatory expansion in Brazil, as well as in more US states, will definitely help these revenue streams.

That aside, Europe still remains a crucial player in the iGaming industry, with its GGR (Gross Gambling Revenue) reaching €123.4 billion, where online gambling accounts for 40%. By 2029, projections indicate that online gambling will represent 45% of the total GGR.

Additionally, with emerging regions like Brazil, further global legalisation and licensing, technological innovation, and increased competition between brands, we can expect the iGaming industry to grow rapidly.

Although the iGaming sector is on an upward curve, it is not without its uncertainties and challenges. From regulatory delays and uncertainty in the continuously evolving laws to over-reliance on automation and AI, there are numerous considerations that operators, providers, and stakeholders will need to address.

Operators may need to pay attention, even in regulated markets, as authorities are clamping down even harder on non-compliance, including lenient Know Your Customer policies, lax responsible gambling practices, and even deceptive marketing. Some countries have also cracked down on advertising, with the UK, Netherlands, and Australia having strict restrictions.

Another potential issue for operators arises from the fact that almost all gaming-related cyberattacks are moving online. With that, the risk of cyber attacks increases and phishing, account takeovers, and DDoS attacks become more frequent. Any kind of security breach can result in substantial fines and brand damage that can be difficult to repair.

There are still a few developing regions that are on the verge of regulating their iGaming markets, such as Brazil, whose recent regulation has opened the doors for other Latin American countries to follow suit. You’ll notice that Mexico, Colombia, and Argentina are also finding their place under the spotlight. This is an excellent opportunity for investors as they can quickly make a profit in these high-demand but underdeveloped markets.

Similarly, there are numerous opportunities for niche game studios that foster creativity to offer their services in the industry. Less popular games like crash games and arcades are making their mark in the predominantly RNG-dominated game sector. With that in mind, investors can take their chances with scalable studios to build a strong roadmap and cross their fingers that a few breakout titles will put them on top.

The future that you might have in mind for the iGaming industry is far from being about just games and bigger jackpots. We expect to see a more seamless user experience thanks to cross-platforms and AI that will shake the industry’s foundation. You can expect game personalisation that will improve the player’s experience and make gaming online safer and faster.

We’ll also see a wider implementation of transparency and fairness, which will enhance trust among the operators and players, with brands creating that bond of loyalty between them. It’s genuinely all about putting the player first and going down a road that will create a safe iGaming experience for the player.

It’s important to remember that the future of the iGaming industry won’t be defined by one innovation — it is something that happens step by step and needs to create an organic connection between different segments for it to have a truly impactful footprint on the industry.