The growth of the global gambling market is being driven by the increasing adoption of smartphones and internet accessibility. Mobile devices account for a higher share of global internet users than desktop computers and account for 80% of the industry’s users in most countries. A study by Rub90 found that mobile users were more likely to gamble on their smartphones than on their PCs. According to the study, 21% of respondents reported having gambled on their smartphones in 2019.
The gambling industry is expected to reach a revenue of USD 92.9 billion by 2023. It currently stands at around 59 billion U.S. dollars, and is predicted to double in size over the next few years. While this growth is expected to be faster in some regions than others, it is not yet clear which region will experience the fastest growth. The fastest growing regions will be Western Europe, Asia-Pacific, North America, and Eastern Europe.
A number of countries have made online gambling legal. It not only creates revenue, but also creates a high level of employment. Countries like India, Goa, and Sikkim are experimenting with online gambling. The growth of this industry is expected to continue as legal sports betting becomes more widespread. In addition to online casino gambling, sports betting has become more popular in recent years due to the growing popularity of sports. Many people place bets on baseball, football, hockey, and boxing, and the demand is expected to continue to grow in the future.
COVID-19 (cooch tainted) pandemic is expected to affect the gambling industry but will have minimal effect on the industry overall. The use of AI in online gambling is expected to drive growth in the industry. In addition, the use of virtual reality gaming technology is expected to increase the number of players in the gambling industry. This means that there will be even more competition in the industry. However, this industry’s overall growth will continue to be influenced by the growth of other industries.
In addition, the report also includes information on regional and country-specific markets, including the growth and size of each market segment. The study also analyzes the competitive landscape of online gambling. By comparing countries’ markets to each other, it helps to identify areas of growth for online gambling. For example, the global online gambling market is expected to grow at a 9.96% CAGR from now until 2027. Further, the report covers the global market’s growth in online gambling and how it compares to other sectors.
The global gambling market is segmented based on its type, end-use industry, and application. The report provides detailed information on the types, regions, and companies involved. This information helps in identifying core application areas and differentiates target markets. It provides insights on the key players and how the global gambling industry has changed in recent years. You will also find insights on the different applications of gambling software and hardware, and the future trends and challenges in each.