How Big is the online gambling industry today?

[dezoel]

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.

That is due to the effect of pandemic. The demand for existing online casinos are then got higher so other businessmen's who are not yet on this field see this as a perfect opportunity to start their own online casino too. Now that the effect of the pandemic starts to wear off, I wonder if the demand for online casinos are still the same?

I know many will says it decline because people are now working again and some are back playing in brick-and-mortar casino but we must not forget that there are new people who just discovered online gambling because I see that gambling ads is still everywhere the place. Those who people who resume in their jobs might still gamble and they might play harder than usual because they already have a reliable source of income.

I think it was definitely a breaking point, there were a lot of rich people who went into online gambling. Even the top names in the gambling world who owned big casino hotels, opened up their online casinos as well to get more people because it wasn't even allowed to go visit your parents let alone go to Vegas and gamble for example.

This is why online is the way to go, bring the casino into peoples computers and phones, and you can do a lot better marketing. Casino hotels invited famous celebs and all that to attract gamblers, before and after you watch those singers or whatevers show, you gambled there and that's how they made money, instead of paying that, they did online marketing with same budget and grew so much suddenly. Because that money is a lot when it comes to online marketing.

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[shogun47]

I disagree entirely. Physical casinos are dying and people aren't going to go back. How many ways can you reinvent casino games that would make it any more attractive to a prospective gambler than already exists -- not much. The physical casinos had monopolies on the industry because the overhead on operating these physical locations are too high. Digital casinos don't have that large of an overhead nor do they need to comply with so many regulations so it's only that much more attractive.

Player side, me personally, I don't particularly care much for the experience of a physical casino. It's not that important to me.

I also think along those lines, extremely luxurious casinos could still thrive as they can attract the richest and offer them incredible service and a great experience, however I think the casinos aimed to the middle class are bound to eventually disappear, Las Vegas could thrive since gambling was basically banned everywhere on the US and anyone that wanted to gamble legally had to go there to get that experience, but now gambling is everywhere and you can even do so from your home with your smartphone, so I do not think those casino can survive with their current business model.

What middle class? There is no middle class left. Not in the US, not in the rest of the world. Actually there are only 2 types of players in gambling. 1) The rich, 2) The poor. There isn't anything between. The big casinos want to attract the rich people and the others are getting the poor. Poor people are also the perfect addicts because they don't have anything to lose other than what they got as a paycheck that month and every new month is a chance to get rich. So they will be playing forever till they die and 99.99% of them die poor.

This is well said and also I think it is difficult to actually really come up with precise numbers on how big the gambling industry is. The registered companies are publishing numbers and you could add those up and derive a rough estimate, but there are also so many of the shady casinos that if you add those all up, I think that number could also play a significant role. As you said, the poor just play their whole life until they die, but quantity is probably of relevance here. If you have an army of poor people losing their monthly paycheck on your platform, that can still be a lot of money.

Some of the statistics won't even be available, especially when cryptocurrencies are involved on platforms that don't ask for KYC. No idea whether those platforms not demanding KYC would really be publishing any reliable numbers anyway.

[goaldigger]

I think the online gambling  industry  is already a multi million dollar industry  because most times i could  only  imagine how much money is been lost to the casino  on a daily basis and I have no option but to conclude  that the company is already averaging over multi million dollars.
I basically  didn't need a prophet  or maybe a Google to confirm  how big the online gambling  industry  except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching  up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

[wheelz1200]

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.

Source

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.

Source

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?

It's only gonna grow year over year at least in the US.  As online sports gambling becomes legal in more and more states it will continue to grow.  Its too easy just to open your phone or computer and drop in a bet.  It's almost too easy.  I do agree in the short term it will be bigger than it is now but it won't stop it will just keep growing.

[Vaskiy]

I think the online gambling  industry  is already a multi million dollar industry  because most times i could  only  imagine how much money is been lost to the casino  on a daily basis and I have no option but to conclude  that the company is already averaging over multi million dollars.
I basically  didn't need a prophet  or maybe a Google to confirm  how big the online gambling  industry  except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching  up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

Sometimes it looks like there is no fiat based gambling sites used around, because these days it is very rare to see the promotion of fiat based gambling sites. Quite often we can come across cryptocurrency accepted gambling sites promotion. People are getting much used to it. Many countries legalizing gambling is a cause for the recent year's growth reaching the peak. I feel like, someday in the future there arises a situation where it is possible to gamble only using cryptocurrency. Covid helped a lot to the gambling industry when rest of the industry were struggling to survive.

[sunsilk]

It's an industry that will just keep on growing, the entirety of the online gambling industry, fiat and crypto, will just go as if it's an unstoppable train.

We've seen how it went coming from a no-pandemic era, to the time that the height of pandemic was seen. And with other economic crisis, still this industry has never been stopped.

Although it's not going to be as lovely as it is everyday but sure, it will keep on growing until we see a decline.

[Wakate]

I think the online gambling  industry  is already a multi million dollar industry  because most times i could  only  imagine how much money is been lost to the casino  on a daily basis and I have no option but to conclude  that the company is already averaging over multi million dollars.
I basically  didn't need a prophet  or maybe a Google to confirm  how big the online gambling  industry  except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching  up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

With the way cryptocurrency casinos are growing, it is very certain that the industry is worth a billion dollars or even more. Since the beginning COVID-19 virus that made a lot of people to stay in there houses and look for online jobs or something that is going to earn them money, the growth of crypto casinos had skyrocket since people now find a path Way in gambling online to survive and paying there bills with the fund/profits they get from the casino they are using. We should expect more gambling activities in time soon because the gambling industries is growing rapidly as more people go into cryptocurrency and gambling.

[Gyfts]

I disagree entirely. Physical casinos are dying and people aren't going to go back. How many ways can you reinvent casino games that would make it any more attractive to a prospective gambler than already exists -- not much. The physical casinos had monopolies on the industry because the overhead on operating these physical locations are too high. Digital casinos don't have that large of an overhead nor do they need to comply with so many regulations so it's only that much more attractive.

Player side, me personally, I don't particularly care much for the experience of a physical casino. It's not that important to me.

I also think along those lines, extremely luxurious casinos could still thrive as they can attract the richest and offer them incredible service and a great experience, however I think the casinos aimed to the middle class are bound to eventually disappear, Las Vegas could thrive since gambling was basically banned everywhere on the US and anyone that wanted to gamble legally had to go there to get that experience, but now gambling is everywhere and you can even do so from your home with your smartphone, so I do not think those casino can survive with their current business model.

Not just the U.S., but a lot of the online gambling regulations were reduced and you can get a online gaming license with ease granted you have the funds. Modern casinos are providing a resort like experience so the demographic they're targeting is different than the typical gambler. I make this distinction because these online casinos are thriving because of crypto-based deposits. If digital casinos can increase market share, that only increases the crypto usage.

I disagree entirely. Physical casinos are dying and people aren't going to go back. How many ways can you reinvent casino games that would make it any more attractive to a prospective gambler than already exists -- not much. The physical casinos had monopolies on the industry because the overhead on operating these physical locations are too high. Digital casinos don't have that large of an overhead nor do they need to comply with so many regulations so it's only that much more attractive.

Well, physical casinos are dying, maybe yes, but I think that even in the next 50 years to come, there will still be physical casinos around  that are doing very well, the physical casino might not be in every location, but it will definitely be in several part of the world, most especially, remote areas where user don't really have access to smart phones due to really poor network coverage, there are alot of places like this in some African countries now.

I'm not suggesting that there won't ever be physical casinos, only that the market share that the physical casinos have will be eaten up by digital platforms. The areas that are remote won't have casinos to begin with. And if the do, their market share is minimal.

[Outhue]

The pandemic outbreak of 2020 played a major role in the big success of online gambling platforms, that was when bigger numbers of people decided to try their luck indoor on those online gambling platforms, today online casinos are one of the fastest rich businesses that anyone can get into right now and casinos are as big as less risky companies like Microsoft and others, do not underestimate how much casinos are generating every day, it's a whole lot of money, more than you could ever imagine.

Big men out there would rather run a casino business than an hotel because it's a business that's less risky for the owners, it's a 95% win for the owners always.

[michellee]

The pandemic outbreak of 2020 played a major role in the big success of online gambling platforms, that was when bigger numbers of people decided to try their luck indoor on those online gambling platforms, today online casinos are one of the fastest rich businesses that anyone can get into right now and casinos are as big as less risky companies like Microsoft and others, do not underestimate how much casinos are generating every day, it's a whole lot of money, more than you could ever imagine.

Big men out there would rather run a casino business than an hotel because it's a business that's less risky for the owners, it's a 95% win for the owners always.

Online casinos have benefited greatly from the pandemic for the past 3 years and have increased the number of users playing at each of these online casinos. So that's what makes online casinos bigger than ever.

And because many offline gamblers have immediately stopped playing gambling at offline casinos, they are confused about how they can continue to gamble while taking care of themselves while the pandemic is not over. And because the internet is available in many countries and can be accessed easily, they can find online casinos and even find crypto, which can be a means for them to keep playing gambling.

And besides that, maybe because of the ever-increasing development of the gambling business, many business people want to create a new casino to spread their business to many fields. And now, we have seen how the online gambling business has developed rapidly and may be even more advanced in the next few years.

[livingfree]

The pandemic outbreak of 2020 played a major role in the big success of online gambling platforms, that was when bigger numbers of people decided to try their luck indoor on those online gambling platforms, today online casinos are one of the fastest rich businesses that anyone can get into right now and casinos are as big as less risky companies like Microsoft and others, do not underestimate how much casinos are generating every day, it's a whole lot of money, more than you could ever imagine.

Big men out there would rather run a casino business than an hotel because it's a business that's less risky for the owners, it's a 95% win for the owners always.

That's certain that the pandemic did contributed to the growth of online gambling, be it crypto or fiat.

Being stuck at home due to the lockdown that has been implemented worldwide, made people think of doing something and even non-gamblers. It's certain that many of them also tried to gamble.

But we'll never know the statistics on how many have won a lot and how many have lost. It's more likely that many have lost instead of winning but still, that had made a lot of people made the gambling industry more known and bigger.

[molsewid]

What middle class? There is no middle class left. Not in the US, not in the rest of the world. Actually there are only 2 types of players in gambling. 1) The rich, 2) The poor. There isn't anything between. The big casinos want to attract the rich people and the others are getting the poor. Poor people are also the perfect addicts because they don't have anything to lose other than what they got as a paycheck that month and every new month is a chance to get rich. So they will be playing forever till they die and 99.99% of them die poor.

I agree with you, no offense but we as poor people or those who rely to their paychecks can be easily be addicted because most of us maybe even me think before that gambling will help me to have additional income and help me in my finances but the good thing is I wake up too early before i lose more than the thing that I could ever imagine in my life.

[virasisog]

What middle class? There is no middle class left. Not in the US, not in the rest of the world. Actually there are only 2 types of players in gambling. 1) The rich, 2) The poor. There isn't anything between. The big casinos want to attract the rich people and the others are getting the poor. Poor people are also the perfect addicts because they don't have anything to lose other than what they got as a paycheck that month and every new month is a chance to get rich. So they will be playing forever till they die and 99.99% of them die poor.

I agree with you, no offense but we as poor people or those who rely to their paychecks can be easily be addicted because most of us maybe even me think before that gambling will help me to have additional income and help me in my finances but the good thing is I wake up too early before i lose more than the thing that I could ever imagine in my life.

We can't dispute that most poor people nowadays rely on gambling for a better life. It makes sense why the majority of them risk the most of their assets in gambling and would ultimately chase them; this might also be the cause of their rapid descent into gambling addiction. Rich people, on the other hand, gamble mostly for entertainment and enjoyment, and they seize opportunities to expand their holdings and spheres of influence. Due to the fact that there are only two possible outcomes in gambling—losing or winning—, we should take responsibility regardless of our financial situation.

[Jody.Drummer]

I think the online gambling  industry  is already a multi million dollar industry  because most times i could  only  imagine how much money is been lost to the casino  on a daily basis and I have no option but to conclude  that the company is already averaging over multi million dollars.
I basically  didn't need a prophet  or maybe a Google to confirm  how big the online gambling  industry  except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching  up is through strategic marketing and promotions as well as endorsement.

There is no doubt that the gambling industry is one that has millions of dollars to spend. I think we already know that, maybe no one knows for sure how much is spent each day, but with certainty and confidence I will say it is not a small amount. We can see from here, from the forums how many people play, how much money they spend each day for gambling, I'm sure it's a very fantastic nominal. The gambling industry is very promising now, the velocity of money there is very fast and also big.

With the huge profits in the gambling industry, more and more people are interested in trying it.
In the gambling industry there are gamblers from the rich and also the lower middle class and on average almost all of them are very generous to spend some money to be able to bet.
Millions of dollars and more exist on just one gambling site while in all there are countless gambling sites operating.
I am no longer surprised that the gambling industry is getting bigger and the sites are also spread all over the world.

Yes, that's right, not only people who have a lot of money are in gambling, many people who are financially in trouble are also in the scope of gambling. The minimum limit that they can deposit to be able to play gambling is one of the factors why those who have financial difficulties are also here. Rich people with large amounts of money at a time, while middle-class people with the minimum money they bet.
You are right that in one gambling site, and if we look at now how many total gambling sites there are, then if you count the numbers it will be fantastic and even that can be beyond predictions.

[Eureka_07]

<snip>

It became more popular recently and I believe online gambling will be higher in size and reach from generation to generation as we became more inclined to technology and convenience.

I'm guessing that, right now online gambling is larger than land-based ones. I would agree that pandemic was one of the catalysts why we are having such demand for online casino nowadays. And even after that crisis, the demand and surge of new players is high. This would most likely continue even more as what I've said earlier.

Recently, on my country online gambling became popular due to the influence of social media content creators and influencers. From their video contents, there's always part for the promotion. Personally, I found that annoying. And what pisses me off is that these influencers doesn't even warns their viewers and seems that they don't even check for the casino's legitimacy.

[erep]

Yes, that's right, not only people who have a lot of money are in gambling, many people who are financially in trouble are also in the scope of gambling. The minimum limit that they can deposit to be able to play gambling is one of the factors why those who have financial difficulties are also here. Rich people with large amounts of money at a time, while middle-class people with the minimum money they bet.

All the economic majority can also gamble because casinos do not set high deposit limits, so gambling does not evaluate based on a person's wealth status but judges by how many chances he can win the most bets and he is able to handle the risk of loss, even if you pay attention to the gambling thread there is discussion of gamblers with low bets can get a million dollar jackpot, on the other hand there are millions of dollars in losses because he incorrectly determines the opportunity to win the opportunity to get thousands of dollars.

[kotajikikox]

I don't know what year or date that details you've got mate but according to google it is much higher up to February this year

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports. PUNE, India, Feb.Feb 2, 2023

Here's the Link : https://www.google.com/search?q=how+big+is+the+online+gambling+market&rlz=1C1KNTJ_enPH946PH946&oq=how+big+is+the+online+gambling&aqs=chrome.2.0i512j69i57j0i512j0i15i22i30j0i22i30l3j69i61.7947j0j9&sourceid=chrome&ie=UTF-8


and from that  , I think that there are so much increase from month after month because lets admit
that crypto gambling is outgrowing the Fiat online gambling and adding value to the gambling industry.

this forum alone(Bitcointalk.org) composes of so many gamblers from around the world.

[Tumanggor]

the data that OP gave is really very good, and certainly quite accurate considering how easy it is to access online gambling sites nowadays even in countries where gambling is prohibited and many gambling sites are banned

therefore, along with the growth of the gambling business, all gambling business owners are obliged to carry out CSR to help the government in each country treat gambling addicts

[Jody.Drummer]

I think the online gambling  industry  is already a multi million dollar industry  because most times i could  only  imagine how much money is been lost to the casino  on a daily basis and I have no option but to conclude  that the company is already averaging over multi million dollars.
I basically  didn't need a prophet  or maybe a Google to confirm  how big the online gambling  industry  except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching  up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

Sometimes it looks like there is no fiat based gambling sites used around, because these days it is very rare to see the promotion of fiat based gambling sites. Quite often we can come across cryptocurrency accepted gambling sites promotion. People are getting much used to it. Many countries legalizing gambling is a cause for the recent year's growth reaching the peak. I feel like, someday in the future there arises a situation where it is possible to gamble only using cryptocurrency. Covid helped a lot to the gambling industry when rest of the industry were struggling to survive.

This may depend on where you live and how crypto is accepted there.
When indeed their target is crypto enthusiasts then indeed the best thing is to make gambling with that as a balance because indeed this will obviously be liked, but if the target is not for that then fiat is indeed still one of the references.

In the place where I live now, almost all gambling sites use fiat, although there are some that use crypto, but this is only a few of the many fiat, but indeed this is also quite reasonable because my area is happier with it than crypto.
but of course something like this doesn't apply, therefore I prefer to use a casino that does have a big reputation here because crypto is indeed one of the things that I can make a bet on.

[xSkylarx]

I don't know what year or date that details you've got mate but according to google it is much higher up to February this year

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports. PUNE, India, Feb.Feb 2, 2023

Here's the Link : https://www.google.com/search?q=how+big+is+the+online+gambling+market&rlz=1C1KNTJ_enPH946PH946&oq=how+big+is+the+online+gambling&aqs=chrome.2.0i512j69i57j0i512j0i15i22i30j0i22i30l3j69i61.7947j0j9&sourceid=chrome&ie=UTF-8


and from that  , I think that there are so much increase from month after month because lets admit
that crypto gambling is outgrowing the Fiat online gambling and adding value to the gambling industry.

this forum alone(Bitcointalk.org) composes of so many gamblers from around the world.

This is really huge. What I've worried about is those under 18 who are into gambling and would be prone to addictions, which means they would commit crimes or steal some money. As I've also noticed how rampantly the influencers in social media are posting this, and what I've worried about is that those influencers are showing that it is easy to win on those platforms, like just betting this and for sure you'll win. Someone also approached me, my cousin, who is under age, asking about money that he will pay back once he wins on that specific platform, and I am really worried about him.