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With 600 million Chinese gamers, China remains the world’s largest esports market and user base in Asia and worldwide. As more players have access to gambling websites and apps, experts predict Germany’s online betting industry will expand to $2.3 billion. Mexico’s online gambling industry is slowly creeping up in Pelican Casino revenue, seeing a steady growth in income over the last few years, generating around $500 million GGR with year-on-year growth of around 10% in 2021. In another optimistic but still reasonable forecast, that same market is expected to reach US$92.9 billion in 2023, still growing at rates above 10% every year.
- While Nevada’s huge contribution to the casino revenue comes from Las Vegas, some states do not contribute at all.
- Mobile gambling is possible through the simple access of websites through a browser or via apps located in official stores or with a downloadable APK.
- This is statistical so within certain tries, it goes below a certain number,” Dr Subhashis Gangopadhyay, research director- IDF and Dean, School of Liberal Studies, UPES, told BrandWagon Online.
- Explore more facts and figures about the Virtual Reality Casino scene and learn how quickly the segmentation has been growing.
- While online betting made €351 million in 2017, Czechian bettors doubled the income in 2022 to €886 million.
- Other drivers for the market growth include the availability of high-speed broadband internet, the rising popularity of online casinos, and the rising use of smartphones.
The 2022 figures for online gamblers increased by 15.38% from the previous year’s 134.6 million users, with online sports bets contributing the most with 108.9 million users in 2022. It is often thought that if one is skilled at a certain task, there is a high probability, of her achieving success at that task. Case in point, almost every Indian thought that team would be unbeatable at this year’s recently concluded ICC World Cup. This proves that there is a certain element of chance in all kinds of games. And this is what seems to be one of the most hounding issues that the online gaming industry today is facing in India.
For instance, the total betting turnover of the Japan Racing Association (JRA) from horse racing was JPY 3.25 trillion, according to the Japan Association for International Racing. Moreover, there has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which positively impact the growth of the market studied. Online gambling’s gross win in Europe was EUR 29.3 billion in 2022, according to the European Gaming & Betting Association. For instance, in 2021, Entain PLC declared the launch of Gambling Responsibly America in the United States, a dedicated gaming app. The global online gambling market size was valued at USD 63.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030.
An estimated total of US$ 66.7 billion as revenue can be attributed to the pandemic, which made gamblers stay at home for a long period. In addition, the incorporation of digital technologies is attracting new customers across the sports betting industry, fueling the growth of the market. With online gambling entering a new phase towards becoming a lucrative market, the next few years will shape the global market on multiple revenue sources—mobile devices being one of them.
Football registered a market share of over 24% in 2022, followed by basketball and baseball (10%) and horse racing (8%). This section divulges these segments to discover essential statistics and facts that highlight the complex world of online gambling. Latvia’s Gambling and Lotteries Law of 2005 prohibits bettors from accessing unlicensed gaming sites. The law also outlaws Latvian banks from processing money from punters who engage in bets.
Industry
We believe that everyone, from casinos to players, should get hold of that precious knowledge. That way, it is possible to identify if people are gambling responsibly and whether the industry is improving or not. As always, our team of specialists endeavors their best efforts to make sure everything is detailed in a simple manner. I’m Eva, the opinionated voice behind every online casino review we make here on CasinosHunter.
US Online Gambling Market News
Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market. They also compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to multiple platforms. Apart from this, advanced distribution networks and manufacturing expertise give an upper edge to players to expand their range of products worldwide.
What are the main product lines for the Online Gambling Services in the US market?
Regulated markets remain steadfast, while countries with favorable regulations have potential on the horizon. From 2020 to 2021, the US online betting scene generated over $800 million, from $8.7 billion to $9.5 billion, a 9% increase in revenue. The Brits are among the most active players, with 18 million online bettors in 2022. The UK ranked second in online betting yield and user penetration, with £9.46 billion ($11.71 billion) and 26.2 million users, respectively.
2023 saw Japan’s online gambling market make JP¥729.5 billion, more than double that of 2019’s JP¥337.08 billion, showing how much the online betting industry has thrived in Japan. The move, which took effect on January 1, 2023, opened up Hungary’s market for operators in the European Economic Area (EEA) and saw the online sports betting scene generate $110.8 million in Q3 of 2023. Much of the increase in revenue came from the emergence and legalization of online casinos in Brazil in 2023, accounting for 59% of the total income. Although Australian adults dominate the online gambling industry user base count, US adults also have their fair share of betting. As online casinos incorporate trends such as cryptocurrencies, 5G network usage, and user-intuitive features, the user base and revenue have consistently grown since 2017. The online betting industry has many factors that push the market to where it is now. Convenience, accessibility, exciting gameplay, and varied ways to earn money are some of their driving forces.
New Jersey has various types of online casinos, sportsbooks, and sports betting apps. New Jersey’s Division of Gaming Enforcement oversees and holds New Jersey’s online gaming sites. It handles site licensing, tax revenue collection, and game testing and approval. New Jersey is currently the largest market for regulated online gambling in the United States. At the same time, Mexico is reviewing its gambling laws, intending to regulate the online gambling sector to align with the rest of the region’s gambling industry.
Online slot machines are the go-to option for most players, leading the industry’s market share. Around 19% of the country’s gambling revenue stemmed from the iGaming market, with its online sports betting revenue making about €0.92 billion. Argentina holds the largest market share in South America’s online gambling industry, with a population of around 45 million.
Gambling in Australia
In terms of devices, the desktop segment accounted for a significant revenue of around 48% in 2022. The desktop offers a large screen size compared to handheld devices and other devices that allow gamblers to enjoy the details and graphics of the game. Moreover, the performance features offered by desktops, such as audio quality, picture quality, and customizable storage capacity of desktops, provide https://nitrocasinokirjaudu.com an improved gaming experience. This section discusses the recent developments and changes to the online gambling scene, from 5G technology adoption, blockchain casinos, and VR devices to post-pandemic recoveries. SEA is among Asia’s most active gambling areas, with experts predicting the betting population to grow to around 6.2 million, with a $1.46 billion online gambling revenue generated by 2027.
Online Gambling Market Report Scope
Central and Western Europe combine for the biggest online gambling revenue among all continents, at $28.77 billion. The legalization of online betting in many parts of the world also contributes to the growth of the user base. In the US, more and more states are issuing regulations to legalize online bets.
Globally, online gambling hubs have grown by 4.3% from the previous year, up to 4,792 online casinos and betting operations in 2023. When the pandemic emerged in 2020, many Japanese gamblers shifted to online bets. The transition increased online gambling demand, upping the market’s size and profit. New Zealand bans online gambling but has imposed exceptions for state-run online lottery, horse racing, and sports betting. Australia’s online gambling industry generated around AU$6.86 billion (US$4.5 billion) in 2022, with experts attributing this yield to the COVID-19 lockdowns. South America has a promising online gambling industry worth $2.68 billion in 2022.
Gambling Statistics 2023: Key Facts and Stats of the Gambling Industry
The harms have been classified into three categories namely behavioural, financial and societal. According to our research, Australia is the country responsible for the greatest loss per adult in terms of gambling. If we compare those results from 2015 to the Ipsos Reid Lottery & Gaming study (2013), there is a considerable difference. Back then and according to their respondents, 49% would always play slot machines. Now, they correspond to an incredible 45.8%, getting closer to their proportion to men in terms of population (51% and 49%, respectively). If roughly 26% of all people in the world gamble, in 2023 around 2,091,780,987 people are gamblers. The gambling addiction statistics below provide some insights into the topic.