Expected Online Gambling Trends and Market to 2023

Ryan Thompson September 12, 2018 0
Expected Online Gambling Trends and Market to 2023

Online gambling is here to stay. That is something everybody can agree on, whether or not they’re experts with numbers on their hands or just people chatting about the latest trends related to smartphones and the internet.

Between now and 2023, the Global Online Gambling & Betting Market is expected to grow to 279.8 Billion USD. Just last year, in 2017, it was “only” worth 143.32 Billion. Meaning it is expected to have doubled such already impressive figures in a six year span between now and 2023.

The convenience offered by online gambling and betting, and the anonymous nature of it, is unparalleled when thinking about the real life alternative, especially to those who don’t live near a casino or betting agency. This doesn’t even account for the number of people who might be living in a country where gambling isn’t legal, and have access to online table games, sports bets and live casino roulettes through proxies.

What justifies the prediction for such growth, against the less significant growth seen, for example, between 2011 and 2017, definitely has to do with smartphones and people having continuous access to online casinos and betting services from almost anywhere in the world. While it is true that smartphones have been around since before 2011, it is undeniable that they have spread out exponentially and that the market for apps and mobile versions of websites and services took a while to become as appealing and functional as the desktop ones. The same has to be said when it comes to accessibility: with free Wi-Fi being more commonly widespread than it was five years ago, and mobile networks being faster, more reliable and cheaper, much like smartphones themselves.

Another important factor that has to be taken into account is the fact that the average online player is younger than traditional gamers, who still favour casinos and real life agencies. As time passes, more and more people who have grown with a smartphone on their hands – or even just with internet as a widespread and daily life commodity – begin betting and gambling, and are likely to do so online rather than in physical facilities. This represents a shift in the culture that saw previous players show up to a casino or a sports betting agencies.

It is only natural, therefore, that numbers related to online gambling are set to exponentially grow, disproportionately to what we’ve seen so far, while agencies’ and casinos’ revenues are bound to decrease, slowly but steadily.

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