How Big is the online gambling industry today?

[lizarder]

We are now on an era on which digitalization is really indeed giving off that kind of fast accessibility on anything specially on online things not only limited on gambling space but also in other industries as well on which
it would really be just that normal that there would really be those applications which we could simply be able to access anytime and anywhere we want as long we do have that internet connection.In speaking about progress then in just looking alone into those physical places or casinos where there's a significant rise up on yearly basis and it didnt stopped nor really that goes down, which means  that demand
is really there.

Excluding out other markets just like on fiat casinos online and adding up on crypto casinos which it is really that a normal approach that we do have that increase too on this aspect considering that
we are almost spending our time on facing up our cellphones or even computer which means theres a specific market on that and this is where owners would really be
considering on building one since they do know that they could really get some good marketshare or demand into this and it did really happen.

Technological sophistication is making the online gambling market even bigger today and I see that many gambling sites are starting to be introduced and the developers choose promotions through artists, for me this is not surprising because they do have large followers on their social media platforms, so the influence of their big names also have their fair share of promotions that are run. Gambling has been going on for a long time in human life regardless of the negative and positive sides, this reason will make online gambling even greater with the convenience offered by these gambling sites.

Today you can relax at home while placing bets on sports and you no longer need to bother going to a physical gambling place that provides football betting. I'm pretty sure the online gambling market will expand even more in the following year, because the process is not complicated in placing bets for people who want to gamble.

[worle1bm]

From the past few years the gambling industry is booming with billion dollars fund management system and there has been significant rise in the number of players and new casinos.Actually the thing is pandemic has given people more exposure to gambling as they want to stress out by playing over different games while some want to try luck to gain more profits if they can to have surplus funds with them so there are mix of reasons for which this has been on rise.

[iv4n]

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).

The global gambling market reached a value of nearly $449.04 billion in 2022, having declined at a compound annual growth rate (CAGR) of -0.9% since 2017. The market is expected to grow from $449.04 billion in 2022 to $ 765.89 billion in 2027 at a CAGR of 11.3%.

This is for the global gambling industry. $63 billion is for online gambling, which is a bit low in my opinion as well, I wonder did they included crypto gambling in their calculations? If that is possible at all, we all know that the crypto gambling space is like a wild west when it comes to some regulations, and who knows how money flows and how much they report?

Anyway, the gambling industry is on the rise, online gambling especially... and whatever numbers we see now will be higher every year.

[smyslov]

Nothing can beat gambling as an industry, in fact, gambling can sustain one's country's needs and is the biggest draw for tourists some examples of this are Macao and the state of Las Vegas which is only for offline casinos, Online casinos can triple the profit of what the offline casinos are making because their clients are not just tourist but people where they have access on their platform and where their providers allow them to play.
For an industry to still kick profit even in times of pandemic could only mean that it will and can survive in every situation of course with the exception of World War.

[pawanjain]

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.

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

Right on point. Recently I had literally seen so many celebrities endorsing Lotus365 gambling site and I felt like how come so many celebs are promoting it.
Basically the site is "investing" so much in advertisement and promotions that many people will eventually start using it.
They know sooner or later they will get their money back once the userbase is large enough.

[Davidvictorson]

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

Even without the statistics listed by the Opie one can simply tell how large the gambling industry is especially the sports betting industry through the number of book is on a particular Street in where I live. Another way to tell how large or how fast do sports betting sector is growing is through the age grid of people you would find in the sports bookies. If I am not wrong they range from 15 years up until 65 years that would give you a perfect idea. Thirdly, there's the proliferation of telegram channels and WhatsApp groups giving the best odds

[Shamm]

Nothing can beat gambling as an industry, in fact, gambling can sustain one's country's needs and is the biggest draw for tourists some examples of this are Macao and the state of Las Vegas which is only for offline casinos, Online casinos can triple the profit of what the offline casinos are making because their clients are not just tourist but people where they have access on their platform and where their providers allow them to play.
For an industry to still kick profit even in times of pandemic could only mean that it will and can survive in every situation of course with the exception of World War.

Online casino earn a lot than in casino we have our city it because their customer are so much many while in our country or like what we says like in our city only the tourist and the netizen will play and it's limited income than online casino. But nowadays if we are measuring gambling industry then all we can say is that there are many gambling sites out there that anyone of us can access and play with them.

[Webetcoins]

It's definitely true that easy access to gambling platforms and the conveniences provided by the cryptocurrencies like fast transactions and quick withdrawals have given online gambling a new face and a new recognition. The pace it has right now shows that the industry will see significant growth in the years to come.

Celebrity endorsements are without a doubt providing a push to the growth of the online gambling industry since we can see that a lot of celebrities from sports or any industry are becoming official partners and platforms are sponsoring them and that is fueling the popularity of these platforms in the world.

[Fortify]

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.

Based on type, the global online gambling market is segmented into poker, sports betting, casinos, and others. The sports betting segment is expected to gain a substantial market share in the forecast period due to the growth of the sports betting industry driven by the effective use of computers and cell phones to place wagers on sporting events.

When you summarize it, it all goes down to the "easy access" of the gambling sites in the world.
Cell phones/smart phones - If there is no application available for the gambling site, you can always use the browser of phone instead, if it won't work in mobile view then, you can use other browsers that have the feature of "desktop view". It's actually easy nowadays to create a solution for small problems like this.
Desktop/Laptops - According to ACS (American Community Survey) 89 percent of household today have a desktop or a laptop in their place. Internet connection is not a problem anymore because they are offering cheap prices for 10-25 mbps speed. Gambling sites doesn't need a super speed internet just to access it, most of them are text-based websites so loading a page won't be that long.

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.

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

Markets seem to open and shut all the time, while there might be a crackdown on gambling taking place in Australia, we see that more states are legalizing related activities in the USA after seeing how much money Las Vegas brings in every year. It does seem to be in a growing trend right now but it only takes a few well placed laws in somewhere like Europe for the industry to take a big hit. Ultimately what might bring in more profit for them is making more sophisticated gaming platforms that allow money to be wagered, or trying to take more money in the microtransaction industry. As more people get better connected to the internet, there is a lot more money that's going to flow towards these sites.

[QueenVera]

One of the factors that sky rocketed online gambling  was the covid and its lock down policy and since after the 2019 covid, the demand for online gambling  has been on the steady increase and I don't see it dropping  anytime soon.
And online casinos  are extremely  doing very well in promotions and I've seen alot of prominent celebrities endorsing a particular casino and all of a sudden, the casino records massive growth in their business which is an evident that celebrities have some good influence on casino growth.
I think one of the major reasons for the widespread  of online gambling industries  is the ease of access.

[DoublerHunter]

One of the factors that sky rocketed online gambling  was the covid and its lock down policy and since after the 2019 covid, the demand for online gambling  has been on the steady increase and I don't see it dropping  anytime soon.
And online casinos  are extremely  doing very well in promotions and I've seen alot of prominent celebrities endorsing a particular casino and all of a sudden, the casino records massive growth in their business which is an evident that celebrities have some good influence on casino growth.
I think one of the major reasons for the widespread  of online gambling industries  is the ease of access.

^That is exactly the reason why the rise of the online gambling industry because of the covid.
With many people confined to their homes and seeking entertainment, it is no surprise that online gambling has seen a steady increase in demand. Because it is the convenient way and ease of access that online casinos provide them an attractive option for many of us. For now, it will be interesting to see how this industry continues to evolve in the coming years.

[goinmerry]

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

Technically speaking, the increase in fan-based on sports with Major Leagues plays a big role in that expected big market gain in sports betting in the next few years. It's been noted that big global sports events such as Super Bowl, World Cup, FIBA, and even continental and regional leagues are boosting their market gain with every event. The fact that more people are into online gambling nowadays, those fans also try to adopt the idea of supporting the sports league they prefer while taking a chance to make a profit thru sports betting.

In general, there is no doubt that the growth in online gambling is one of the best effects that the pandemic brings.

Gambling is one of the industries that survives the global wrath and even with no sports betting, the other side performed well. Just imagine that every sports event now returned. More money is now expected to circulate in the online gambling industry, especially in sports betting.

[dothebeats]

One of the factors that sky rocketed online gambling  was the covid and its lock down policy and since after the 2019 covid, the demand for online gambling  has been on the steady increase and I don't see it dropping  anytime soon.
And online casinos  are extremely  doing very well in promotions and I've seen alot of prominent celebrities endorsing a particular casino and all of a sudden, the casino records massive growth in their business which is an evident that celebrities have some good influence on casino growth.
I think one of the major reasons for the widespread  of online gambling industries  is the ease of access.

^That is exactly the reason why the rise of the online gambling industry because of the covid.
With many people confined to their homes and seeking entertainment, it is no surprise that online gambling has seen a steady increase in demand. Because it is the convenient way and ease of access that online casinos provide them an attractive option for many of us. For now, it will be interesting to see how this industry continues to evolve in the coming years.

And people actually found out that it's one of the easiest ways to make money while enjoying your time at home. It has stuck to a lot of people now and it could also be one of the reason why sports betting in general has gained a lot of followers.

Here in my country, a lot of people began to watch sports for betting purposes, and have since learned to enjoy the games as well. They are being encouraged by a lot of online influencers by posting wins online, even though we know that it's only a marketing strategy to get people invested and hooked in it to shell some money out.

Casino games are also slowly being recognized by a lot of people as well. Even in my workplace, those who previously don't know how to gamble are starting to do so because they are seeing wins, and they believe they could also get the wins for themselves.

[Stedsm]

The way we are seeing endorsements coming our way every now and then through various channels such as YouTube, Facebook and other social media, emails, etc., I'm sure that the industry has gained enough popularity in the last few years due to the spark that got boosted because of various new types of games being invented by human minds every single day. I've become a fan of Dream11, and as you know that whenever a new idea comes in the market, many duplicates will come up following the same and that's why, we see lots of them popping up with new names but with bigger and better prizes. All we need to understand is that how they pay us and the mechanism behind the same in order to know whether we'll get our profits paid in real or not.

[chaser15]

The gambling industry is now being involved by celebrities, popular streamers, and big personalities.

This makes gambling sites more exposed to the public, as well as their respective fans. Lots of gambling ads are now present throughout social media platforms. Here in our country, local gambling sites' advertisements are almost everywhere, not just the famous casino games but also the integration of sports betting as well.

I believed too that in online gambling, sports betting will be the next big thing although I found it can't be compare to the usual gambling we have known of.

[serjent05]

When you summarize it, it all goes down to the "easy access" of the gambling sites in the world.
Cell phones/smart phones - If there is no application available for the gambling site, you can always use the browser of phone instead, if it won't work in mobile view then, you can use other browsers that have the feature of "desktop view". It's actually easy nowadays to create a solution for small problems like this.
Desktop/Laptops - According to ACS (American Community Survey) 89 percent of household today have a desktop or a laptop in their place. Internet connection is not a problem anymore because they are offering cheap prices for 10-25 mbps speed. Gambling sites doesn't need a super speed internet just to access it, most of them are text-based websites so loading a page won't be that long.

hand devices and internet obviously plays the huge part in gambling propagation.  With the internet and mobile devices, people have easier access to gambling thus it is obvious that the gambling industry will get a boast from these factors.

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.

Using celebrities as face of gambling is not new.  Celebrities had been used to promote gambling ever since.

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

I still believe that casino games like slots and table games will be a good contender to challenge that statement.   Although the sports betting market has shown impressive growth, gambling platform that offers slots and table games are also everywhere and much easier and faster to access and play than sports betting.

[BobK71]

One of the factors that sky rocketed online gambling  was the covid and its lock down policy and since after the 2019 covid, the demand for online gambling  has been on the steady increase and I don't see it dropping  anytime soon.
And online casinos  are extremely  doing very well in promotions and I've seen alot of prominent celebrities endorsing a particular casino and all of a sudden, the casino records massive growth in their business which is an evident that celebrities have some good influence on casino growth.
I think one of the major reasons for the widespread  of online gambling industries  is the ease of access.

Many people chose this gambling as their major source of entertainment when tiredness set in after being stuck at home for a long time due to covid-19 and then comes the significant advancement of the gambling industry. Since then the industry has evolved and modernized extensively. Currently governments are getting huge revenue from this gambling industry. Due to the gradual development of gambling it has become a big industry today. Currently, due to the rise of this industry, a lot of people have been employed. Now it is not possible to think about anything behind this industry.

[Wexnident]

~

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.

That's the point. Any type of business related to offering services (specifically entertainment ones) would've boomed imo with the advent of the internet, not to mention this was gambling, which in of itself is already a big industry. Pandemic just rushed the development imo since regardless of the pandemic happening or not it would've grown a lot.

Plus, the internet itself is starting to liberate that dumb mindset that gambling=some evil being. People are being educated more and more at a younger age (though it also has some considerable consequences, but that's a different topic) so it's only natural how growing people start to accept gambling itself and maybe some would even partake in it.

[Kakmakr]

I think "marketing" has significantly increased during the Covid pandemic, with people spending more time online and working from home. Social media and specifically "streaming" platforms have made the biggest impact on online gambling.

The co-owner of Stake.com are streaming every Saturday on Dlive and as part of this streaming session, they pick people randomly to choose a slot and then the winning money goes to that person, this session draws about 20 000 viewers and he always ask the chosen people ...where they have heard about Stake. (90%+ of those people will tell him that it was from some gambling streamer that they have watched)

So, you have a bunch of paid streamers, gambling with casino money and people believe that they can do the same. 

[Fundamentals Of]

Gambling has been around for millennia and stays popular. And it's growing even bigger notwithstanding its social image. I wonder why it is so. Perhaps it is perfectly built for human psychology. It seems the thrill that gambling provides is something the human minds like very much, even to the point of addiction and losing everything.

With the fast growth of technology, it is more accessible than ever, and that includes its promotion. No wonder why the increasing number of gamblers and the value attached to it. But so with the downside.