Online gambling runs on a fine line between profit and loss, and the more you know about the industry, the better your results will be. Recently we took a look at statistics produced by Statista and GlobalNewsWire and conducted an assessment of what online gambling is currently looking like to determine the state of the industry. Without wasting any time, let’s get straight into the statistics and trends of the online gambling industry globally.
What Makes A Trend?
Just like anything else, in order to become a trend within the industry, a considerable chunk of those invested in gambling would need to hop on board and carry out the activity. For example, one of the most acknowledgeable shifts is the apparent switch from land-based to online. With such a varied market to explore, copious trends and likely practices are carried out throughout the industry.
To understand how trends play a role in your experience of online gambling, we will need to take a look at some of the current trends in action. Let’s take a deeper look at the online community and what trends have stuck in casinos on the web.
What Are The Current Statistics Of Online Casinos Globally
Knowing all the exact numbers when it comes to anything online is almost impossible. With the casino world holding such high anonymity, it becomes that much harder to know the accurate stats.
Most statistics when it comes to online casinos are rough estimations based on the market’s current activity and past behavior. According to data scientists from Gransview Research, the online market is expected to reach an astounding $127.3 billion by 2027 with a CAGR of 11.5%.
This prediction is not unfounded. With the current rate of growth and the rising popularity within the sports betting field, experts suggest that business will be booming for the foreseeable future. Another aspect that promises the industry colossal growth is the offer of bonuses at online casinos. With offers including no deposit bonuses, free spins, and cash backs, it’s understandable why so many players are being pulled in.
Mobile access has also upped the antics, allowing for a more steady and constant source of traffic for the industry. With cheaper data rates than ever before, online gamblers can access their fun whenever they deem fit.
Currently, according to American Gaming Association (AGA), there are an estimated 2800 online casinos, and with the trend growing daily, this number is expected to increase drastically. The majority of these casinos offer games such as bingo, lottery, poker, and slot machines.
- In 2020 the worldwide value of the online gambling industry reached $66.7Billion
- The countries with the highest market share include Canada, the United States, and Europe.
- BY 2026, the size of the gambling market is expected to DOUBLE in size.
- Studies show that 96% of gamblers have moved online.
What Are The Current Trends With Online Gambling
Online gambling goes through phases, and these phases are defined by trends created by the gamblers themselves. Recently, gamblers have started to dabble more in the virtual side of gambling, moving from land-based to online casinos. At these digital experiences, the trends taking place include the use of mobile play, licensing, cryptocurrency usage, and many other safety attributes.
The use of mobile devices has become exponential, and as time progresses, the involvement of mobiles becomes more intensified. One of the most sought-after trends currently in the online gambling community is the use of mobile gambling, allowing players to get knee-deep in the action at the drop of a hat.
Cryptocurrency is everywhere, and if you are a part of the online gambling community, there is no way you haven’t heard of Bitcoin gambling or other altcoin alternatives such as Litecoin, Dogecoin, and many others. Cryptocurrency allows for a smoother and more anonymous gamble. With blockchain technology, every transaction is more secure for both the casino and the gambler.
With the pace picking up in the online world, casino licenses have become more and more essential. Playing at a casino that holds a license has become a necessity, allowing players the freedom of security within their results and game. Below you will find a list of all the well-respected licenses.
What Is Your Next Move?
Online gambling has proven itself as one of the most lucrative industries. With security and safety being the primary concern of most players, it’s clear that the trends reflect this. By prioritizing the security aspects, online gamblers are demanding a more player-focused experience. Besides the safety aspects, players have been venturing into more and more of a virtual reality, carving a place for games that incorporate VR headsets and other fun-filled attributes.