How Big is the online gambling industry today?

[n0ne]

Long back itself gambling industry is very big and people who were part of the business were very successful. This is all because of the specific percentage as edge that the Casinos receive. The lockdown period were well utilised by the gambling platforms understanding that the people's mind. Those period were the transition time and more people came about cryptocurrency accepted gambling platforms. This made more cryptocurrency accepted platforms successful. Now the growth continues amidst the opposition and support for regulated usage and ban on different countries due to addiction and other problems out of gambling.

[1714671974]

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[noormcs5]

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

There is no doubt that the online gambling industry is growing very fast and it will continue to grow in coming years. There are reposts that the online gambling industry can surpass the 200 billion dollar mark by 2031. This is indeed a huge growth. I think the interest of gamblers in physical casino will decrease with the passage of time and the gamblers will prefer to online gambling over physical gambling.

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports

[alegotardo]

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

Traditional bookmakers have always made a lot of money since they were just physical establishments and were limited to a local public or else to their visitors who were willing to go there.
With the popularization of online betting, the business began to expand, but the public was still very afraid and suspicious of the sites.
Then came the COVID-19 pandemic and forced people who were loyal to gambling to have to use the sites, in the same way the sites needed to invest heavily in new features, game and bonuses for players to continue operating.
The result was an absurd growth of this type of venture on online platforms.

I sincerely believed that this could decrease again after the COVID-19 health crisis is over, but I was surprised to see that online gambling continues to grow by the day.
I think this is a path of no return, online gambling allied to cryptocurrencies should still grow a lot in the coming years.... I believe that.

[danherbias07]

Traditional bookmakers have always made a lot of money since they were just physical establishments and were limited to a local public or else to their visitors who were willing to go there.
With the popularization of online betting, the business began to expand, but the public was still very afraid and suspicious of the sites.
Then came the COVID-19 pandemic and forced people who were loyal to gambling to have to use the sites, in the same way the sites needed to invest heavily in new features, game and bonuses for players to continue operating.
The result was an absurd growth of this type of venture on online platforms.

I sincerely believed that this could decrease again after the COVID-19 health crisis is over, but I was surprised to see that online gambling continues to grow by the day.
I think this is a path of no return, online gambling allied to cryptocurrencies should still grow a lot in the coming years.... I believe that.

Correct. Covid-19 made a lot of people stay at home and do everything using just their computers or cell phones with an internet connection. Food deliveries also went at it's peak and even without the restrictions, they are still being patronized by the people. We got lazy.
Now it's not just the old gamblers who do the gambling, new players are coming in because of the easy access created by the gambling businesses.
Then, in the past, there's this thought about casinos just for the rich so they won't go there but now they don't have to and the initial deposits to play is so low that I think even $10 would suffice to play for a long time in casino games.

A path of no return, yes that is the perfect definition of it. It will just keep on growing in the upcoming years and we won't be able to stop it. It will become the norm for the active gamblers and soon-to-be gamblers.

[Oasisman]

How Big is the online gambling industry today?

Easy accessibility and convenience plays a huge role on how huge online casino/ gambling websites nowadays.
I can say, online casinos are generating huge revenue in this current timeline by just looking at almost all of the vloggers and YouTubers are advertising these online casinos in almost all of their contents. This has even caused some issues due to it's exposure to the minors. Some were a bit of concerned so they stopped promoting these online casinos, but for many of them, they can't just turn down the huge offer so they tend to ignore the issues thrown at them.
Advertising offer depends on how popular you are and how many views your videos can generate. There's a rumor that the offer was around $2k or more for a short portion of your content tackling about those online casinos. So, I see a lot these advertisement in a lot of different vloggers in the internet. That alone proves how BIG the online gambling industry today. When a company pays huge money for the advertisement, that means it's effective and they are expanding their market as well as the revenue.

[Hypnosis00]

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

There is no doubt that the online gambling industry is growing very fast and it will continue to grow in coming years. There are reposts that the online gambling industry can surpass the 200 billion dollar mark by 2031. This is indeed a huge growth. I think the interest of gamblers in physical casino will decrease with the passage of time and the gamblers will prefer to online gambling over physical gambling.

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports

We are heading down the path where gambling is becoming more accessible, with the sports betting industry being the largest. Most bettors can now stay at home, and the outcome of the game can be verified easily since we can watch the game live.

The industry will continue to grow as the economy grows, as most men have an interest in gambling. With the growth of the industry, people are becoming more knowledgeable about managing risks. Therefore, despite the rampant increase in online gambling providers, the addiction rate may not necessarily increase.

[yahoo62278]

Seems like every other commercial you see on television is sportsbetting. It not a surprise that gamblers spent 63 billion last year gambling. I wonder what the % was of casino gamblers/sports bettors online and offline? It wouldn't shock me to see more being spent on sportbetting these days.

[xSkylarx]

Since pandemic it is really big. What i just noticed is that there are more online casino now unlike before and mostly people preferred it. Also most of the ads or videos ive seen in social media are about gambling which it is really rampant as we know there are agents to recruit gamblers ro sign up on their website.

[Fatunad]

Did make out some search and speaking about just on a gap or span of 1 year which is on 2022-2023.

The global gambling market grew from $449.04 billion in 2022 to $702.45 billion in 2023 at a compound annual growth rate (CAGR) of 56.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
Source

This had published last January 2023 so numbers wont really be that precise now as if we are already on month of May but if we do really look
about those numbers and making out some comparison then we could really tell that there's really some huge movement about its recognition
and demand which means that gambler numbers comes even more higher as years passing.

How about online gambling? If its one includes fiat then its still good, how much more on crypto space? The numbers would even more getting bigger.

[Wexnident]

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

It's pretty damn big that's for sure, but as for it becoming the highest then I can only say in all honesty that I have no bloody idea. I mean it's not like only he gambling industry grew with the advent of the internet, a LOT of businesses have popped up and grew, from small ones to new ones.

If it was solely in the gambling scene, with casinos being it's only competitor then maybe, the sports scene grew pretty big after all if you include how eSports made a name for itself these past decade or two.

[ralle14]

You've already mentioned some of the helping factors for online gambling and I doubt anyone would disagree as I also think it'll continue to grow even though some teams are planning to avoid gambling sponsorships.

With the growth of the industry, people are becoming more knowledgeable about managing risks. Therefore, despite the rampant increase in online gambling providers, the addiction rate may not necessarily increase.

I still think it'll increase regardless because you can't expect most gamblers to follow specific rules right off the bat so they don't get addicted. Even with enough information it still comes down to how much effort they're putting into stopping their addiction and it's always easy for gamblers to go back than to break their addiction.

[adzino]

It's too big. There are a lot of online gambling casinos that new casinos are going to struggle unless they provide something exceptional or something very new to the player base. If not, why would someone want to play in a new casino that has no reputation? Currently the whole industry is currently being dominated by few big casinos I guess.

Marketing - We can now see celebrities endorsing the gambling sites. Even our heroes in the sport can now be paid to put the name of the gambling site in their shirts or jerseys or if they want more money, they can use their tongue and say the name of the site. Sponsorship. Every time we watch a sports event, any sport, you name it, we see their names being flashed on the screen.

Those gambling industries can afford paying those celebrities and sports players hundreds of thousands of dollar, and the players are willing to accept it. Sponsorship isn't something new. The casinos do need to advertise themselves or they will end up losing the race. Yeah, it might have some negative affect on kids and will make them curious, but as far as I know some countries are banning such kind of advertisements.

[traderethereum]

Since pandemic it is really big. What i just noticed is that there are more online casino now unlike before and mostly people preferred it. Also most of the ads or videos ive seen in social media are about gambling which it is really rampant as we know there are agents to recruit gamblers ro sign up on their website.

Because the development of online casinos is becoming so fast, many people who have the money decide to create their own casinos.
That makes the growth of casinos on the internet more and more and will probably grow even more in the future.
The ease of internet access in various places makes online casinos an easy choice for gambling as people do not need to go to offline casinos and follow the many requirements that often irritate them.
Online casinos will not ask for many requirements because they know that internet users want to hide their privacy.

[monedauno]

A:

I'm going to answer a couple of questions for you:

1. How big is the online gambling industry today?
2. Online gambling sites are a good way to get started and have a chance to win a lot of money. They are the most popular sites for online gambling and you can find them by searching for "www.wagering.com" or "www.casinobet.com" in Google, Yahoo, Bing, etc.

1. Wagering.com

2. Which of the following is the most popular online gambling sites?

Sportsbet.com

3. Which of the following is the most popular online gambling sites?

The World's Most Promising Online Casino

4. Which of the following is the most popular online gambling sites?

Gambling site of the year, the year of the year.

5. Which of the following is the most popular online gambling sites?

Sportsbet.com

6. Which of the

[arwin100]

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

It's pretty damn big that's for sure, but as for it becoming the highest then I can only say in all honesty that I have no bloody idea. I mean it's not like only he gambling industry grew with the advent of the internet, a LOT of businesses have popped up and grew, from small ones to new ones.

If it was solely in the gambling scene, with casinos being it's only competitor then maybe, the sports scene grew pretty big after all if you include how eSports made a name for itself these past decade or two.

Booming of internet is big reason why this industry became so big. And many people which have an idea how to operate a casino create their own that's why we see a huge spike of this industry plus we can add up the pandemic where gambler doesn't have a choice but to gamble online if they want to entertain theirselves. Esports scene is expected to grow big as many institutional investor are pouring money there so gambling platform take a chance to ride up the fame and up choices to bet so that they can gather millions of profit in return.

[AicecreaME]

Gambling industry has grown a lot. From the past years, there are only limited casino websites where you can enjoy yourself by playing and betting. There are also limited variations of games way back compared to today. Fortunately, gambling industry has progressed so much that gamblers who just want to entertain themselves and perhaps make a profit on the side have many alternatives and options to choose from nowadays.

Comparing before, the ease of transacting is evident too. There are now smaller transaction fees and faster transaction time compared before and there are many means of depositing. You can even choose what coin you will use. Various crypto availability is one of the pros that most gamblers like and the website's personalized coin as well. Bonuses and promotions evolved too. Development of gambling industry will surely happen continuously and I really do hope that along the way, players will be more disciplined and responsible.

[davis196]

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. The growing internet penetration and rise in the use of mobile phones among users for playing online games is increasing the demand for online gambling. For instance, in 2022, internet penetration in the U.S. was 92% of the country's total population. Furthermore, cultural and legalization approval, easy access to online gambling, celebrity endorsements, and corporate sponsorships are also helping market growth.

63 billion dollars seems like a pretty small market size on a global scale. The global GDP was around 80 trillion dollars, if I remember this correctly.
I don't believe that the global gambling industry is less than 1% of the global GDP.
I guess that this is the market size of the legal and regulated part of the gambling industry. The size of the illegal and unregulated part would probably be bigger. I agree that sports betting has a way bigger potential for worldwide growth, because it is considered to be less harmful, compared to the traditional casino games(which might be a misconception).

[goldkingcoiner]

If you do not take into account the unreported or under-reported earnings of online casinos, 60-80 Billion USD is the estimated size.

I have no idea of the actual size of the online gambling industry, especially if you take into account the fact that it is so easy to open an online casino nowadays, even for most laymen... Which is why there are so many incompetent failures in the online gambling world, I guess...

But I would wager that online gambling is way bigger than physical gambling by now. Any physical casino owner knows its best to go with the techno/sociological flow instead of against it, and so any physical casino owner must have created a online counterpart of their business. And if you count the stand-alone online casinos without a physical presence, then logic dictates that online gambling is the clear winner, when it comes to sheer numbers.

[ethereumhunter]

Gambling industry has grown a lot. From the past years, there are only limited casino websites where you can enjoy yourself by playing and betting. There are also limited variations of games way back compared to today. Fortunately, gambling industry has progressed so much that gamblers who just want to entertain themselves and perhaps make a profit on the side have many alternatives and options to choose from nowadays.

Comparing before, the ease of transacting is evident too. There are now smaller transaction fees and faster transaction time compared before and there are many means of depositing. You can even choose what coin you will use. Various crypto availability is one of the pros that most gamblers like and the website's personalized coin as well. Bonuses and promotions evolved too. Development of gambling industry will surely happen continuously and I really do hope that along the way, players will be more disciplined and responsible.

What has made the gambling industry grow exponentially is the recent covid pandemic which hit many offline gambling industries in many countries and eventually closed down. And online casino owners see this as an opportunity so they carry out massive promotions to attract offline gamblers who are used to playing in offline casinos to move to online casinos. And in fact, their strategy worked as they got a surge of players coming to their casino site. And it is also the case with online crypto casinos, which are benefiting from the soaring number of players and that has made crypto even more popular.

By using crypto, offline gambling players can be more comfortable playing gambling. They don't need to use a bank account to deposit but only need to buy coins available in many places, especially exchange exchanges and send them to their gambling account. And the good news is that crypto provides a large selection of coins they can use to gamble. But unfortunately, this also triggers another problem, namely gambling addiction because many beginners do not have good self-control in gambling. This is what all gamblers must solve, whether novice or pro.

[Solosanz]

63 billion dollars seems like a pretty small market size on a global scale. The global GDP was around 80 trillion dollars, if I remember this correctly.
I don't believe that the global gambling industry is less than 1% of the global GDP.
I guess that this is the market size of the legal and regulated part of the gambling industry. The size of the illegal and unregulated part would probably be bigger. I agree that sports betting has a way bigger potential for worldwide growth, because it is considered to be less harmful, compared to the traditional casino games(which might be a misconception).

Yeah, as we know there's always a person who can find a loophole to not report all of his wealth for many reason, most of the case he don't want to pay tax. People who included in Forbes the richest list might not be the richest, because if you included on that's list, you need to show all of your wealth and accept to pay huge amount of tax. Some richest people don't want to be included in Forbes because they don't want to get exposure anymore.

The same applies like illegal casino where the owner can earn all the profit the site made.