Recent stats show that more and more people are using online gambling platforms. For the first time in many years, gambling has become very accessible to most people. In the past, in order to play in a casino, you had to go to another region or even a country. Nowadays, a casino is right on your phone and can be accessed with a click. Despite the massive popularity of online gambling, the industry will grow even faster than ever before in the coming years. But how did it happen? What to expect from online gambling in the future? And will the situation change soon?
What Are the Reasons?
Advances in technology have eliminated the need to leave your home to gamble, and this ease of access has been a game-changer that has dramatically multiplied the profits of the gambling industry. The days when a player had to visit a casino to bet on sports or play roulette have gone. Nowadays, to make a bet, it is enough to click on your smartphone or turn your laptop on.
Besides that, the variety of casino games available to players today is also much larger than ever. Traditional casino games, such as poker, blackjack, and roulette, are now hosted on most betting sites. At the same time, you can always bet on your favorite sports and get regular profits.
Many top casinos from https://casinoluck.ca/ now have a very wide range of themed video slots that are attracting the attention of many players who may never have considered themselves to be gamblers before. In addition, premium-class online casinos treat their players with varied bonuses and promotions that land-based gambling establishments cannot afford.
Industry Development Is No Likely to Slow Down
According to the Gambling and Betting Association, the online gambling market is expected to grow from 22.2 billion euros in 2021 to 29.3 billion euros in 2022. This market is growing at 10% every year and shows no signs of slowing down. In fact, in 2021, the CA share of the global online gambling market was at the level of 49.2%. This means that almost half of the money spent on online gambling around the planet is in the CA provinces. The country quickly established itself as the world's largest online gambling hub, taking advantage of regulations in place in some US states.
According to Statista estimates, the online gambling industry will show a CAGR of about 8% between 2019 and 2026. Experts also estimated the size of the market. Based on their reports, at the end of 2020, it was 66.7 billion dollars, and by 2023 this figure will reach 93 billion.
Industry analysts believe that the online segment will be the main growth driver for the gambling industry. The pandemic has only accelerated the influx of users to online gambling halls and sports betting platforms. This transition from classic offline outlets has been going on smoothly over the past years. Online gambling has been in active development for more than a decade. And as long as there are regions with a weak presence, such as Latin America, Africa and Eastern Europe, growth will continue.
The Power of Sports Betting
Nowadays, casino games are just extremely popular, but lately sports betting has become a real source of income for large betting companies. Football is arguably the most important cultural event on the planet, and many fans have taken to betting on the games to fuel their excitement. Sports betting reportedly accounts for about 43% of gross gaming revenue, well below the value of casino games (31%) and poker (6%). This influence continues in sports such as tennis and boxing, where people also place thousands of bets daily.
Online gambling is becoming one of the fastest growing industries. We can obviously see how many people who may not even have thought about gambling before are now participating in this industry. Apparently, the gambling development trend will be even more stable because the gaming industry does not stand still but is rapidly developing using all new technologies.