Real Money Skill Games Market Size, Share, Growth, And Industry Analysis By Type (Arcade Games, Card Games, eSports, Daily Fantastic Sports, Puzzle Games, Trivia & Word Games, Others) By Downstream Industry (Men, Women) and Regional Forecast To 2031

Real Money Skill Games Market Report Overview

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global real money skill games market size was USD 15004.41 million in 2022 and market is projected to touch 48486.24 Million by 2031, exhibiting a CAGR of 13.92% during the forecast period.

Even in today's booming online games, Real Money Skill Games still have their place. Skill means that the result of the game largely depends on the excellent knowledge, training, attention, experience and other skills of the user. Although luck cannot be completely discarded, the user's physical abilities (such as quick reaction or dexterity) or intellectual abilities (logic, strategic thinking, knowledge) play a crucial role. Some of the popular skill-based games are card games, puzzles, and e-sports, etc. They reduce luck and chance and make games a substitute for mainstream entertainment and social media. Therefore, the Real Money Skill Games market is a popular and innovative business environment. The attraction for players is that they can play games and win real money, but they can also increase their chances of winning through skill. Most importantly, Real Money Skill Games are legal games in most parts of the world, even those where online gambling is completely illegal.

Growing demand for smartphones, advancement in internet technology and improvement in purchasing power of users are several factors driving the growth of the Real Money Skill Games market. As a result of the digital revolution, the popularity of cloud platforms for data storage is growing, as is the number of customers doing business and paying online. Due to the rapid rise of digital platforms and growth in internet penetration, consumers now have easy access to the Real Money Skill Games platform, which will promote the development of the Real Money Skill Games industry during the forecast period. Artificial intelligence technology can detect patterns of behavior and prevent game cheating. Rapid adoption of digital currency and seamless internet access provides personal convenience and fuels market growth.

COVID-19 Impact: COVID 19 Lead to The Collapse of Gaming Facilities Due to Labor and Supply Chain Shortages

The outbreak of COVID-19 has significantly changed the daily routines of people around the world and made them face the shocking situation of not being able to go out and socialize. People were tired from their daily chores and there was no chance to travel due to the restrictions. This made them enjoy online games as a source of entertainment and engagement. Gaming has provided immersive entertainment for people seeking social interaction at home, which has significantly increased the demand for games. Mandatory restrictions and social distancing imposed by governments in various countries have reduced consumer and business activity, and road restrictions have forced people to stay in their homes and maintain social distance. The gaming development sector has not been significantly affected by the coronavirus outbreak, as developers can do their work remotely from home. On the other hand, production of gaming equipment collapsed due to lack of raw materials, lack of labor and supply chain disruptions.  

Latest Trends

"Growing Popularity of Digital Games Will Drive Market Growth"

Nowadays, the growing popularity of games due to the wide availability of free games online is one of the most important factors positively influencing the market. In addition, the growing popularity of electronic sports and multiplayer games among professional and amateur players offers favorable market prospects. In addition, the empowering nature of various video games and the ever-increasing shift of youth from physical to video games is accelerating the growth of the market. In addition, increasing use of smartphones, tablets and laptops to access the Internet, communicate with other people, stream content and play games is supporting market growth. Additionally, with the help of advanced graphics engines and information technology (IT), the increasing improvement in the quality of videos and online games will support the market growth. In addition, major market players are launching augmented reality games integrated with virtual reality (VR), which can create experiences that stimulate the player's physical presence in a computer-generated environment.

Real Money Skill Games Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into arcade games, card games, esports, daily fantastic sports, puzzle games, trivia & word games, others. arcade games are anticipated to be the leading segment.

• By Application Analysis

Based on Downstream Industry, the market can be divided into men, women. men will be the dominating segment.

Driving Factors

"Increasing The Audience for Digital Games Will Drive Market Growth "

 Gaming provides entertainment for young people because it is easy to use and offers the opportunity to do something new. This, together with the increasing choice of online games and the popularity of role-playing games, where players can develop their own character, is one of the key factors in the growth of the game market. In addition, online gaming is also gaining immense popularity as it is streamed for free on multiple platforms via smartphones, personal computers (PCs), and laptops, further expanding the digital gaming audience worldwide.

"Widespread Availability of Free Games to Surge Market Growth"

 The market growth is supported by the widespread availability of free games and the emergence of transaction aggregation. Game monetization has always been a viable and profitable business. Mobile game design allows developers to reach customers all over the world instantly through the entire distribution network (i.e. Apple App Store). If Real Money Skill Games work well, it does not need to be licensed or otherwise regulated in most areas. This makes it easy for most developers to enter the Real Money Skill Games market, including small studios with limited budgets.

Restraining Factors

"Growing Addiction Among the Youth Is Hindering the Growth of the Market "

 An increasing number of players who play video games intensively, especially children, often become addicted. This makes it difficult for them to learn and creates social anxiety. Thus, such activities discourage parents from purchasing a gaming system for their children. As of April 2021, more than 2 billion people worldwide play video games, with between 1% and 10% of gamers having compulsive addiction problems, according to addiction recovery company The Recovery Village. In addition, the addiction to video games can even turn into mental health problems, which is why parents do not want to buy this product for their children. This is likely to act as a limiting factor to its growth on the market.

Real Money Skill Games Market Regional Insights

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"Asia Pacific Predicted to Be the Dominating Region During Forecast Period"

Asia Pacific was valued at $86.96 billion in 2020 and is expected to remain at the top during the forecast period. Video game consoles have played an important role in the development of the video game industry, which has become increasingly popular among consumers in this industry. For example, in May 2019, Business Insider reported that the Nintendo Switch sold 8.12 million and the PlayStation 4 sold 6.91 million in Japan. In addition, the rapid growth of the urban population will increase the growth awareness of popular video games launched and sold, which helps increase the consumption rate. According to the World Bank, in 2019, East Asia and the Pacific had an urban population of 59,887%, an increase of 59,053% from the previous year.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

LIST OF TOP REAL MONEY SKILL GAMES COMPANIES

• Flutter (Ireland)
• Mobile Premier League (MPL) (India)
• Bet365 (U.K.)
• GVC Holdings (Douglas)
• World Winner (U.S.)
• Kindred Group (U.S.)
• WINZO (India)
• Paytm First Game (India)
• EazeGames (Netherlands)
• Game Duell (Germany)
• CASHBET (U.S.)
• SKILLZ (U.S.)
• Tether Games (U.S.)
• Nazara Technologies (India)
• Dream11 (India)
• NetEnt (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.