How Big is the online gambling industry today?

[slapper]

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.

Dollars or bitcoin? This is money in the Monopoly game. It's exciting to win big at the casino, but in the end it's just a game of numbers. The advantages of crypto are that it is very secure, private, and decentralized. What's more, brag about your Bitcoin or Ethereum wagers? Incontestably cool.

Still, fiat has a certain allure. security, wide acceptability, and a proven track record. Gambling with foreign currency, domestic currency, or both? Classically hip. You can opt to either explore the cutting edge of cryptography or continue with tried-and-true fiat currency. Have a good time and don't sweat the small stuff!

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[Plaguedeath]

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.

No need to worry, even your cousin accept the offer and give his money to that scammer, your cousin will learn about fake investment and it should be a good lesson for him to not trust any stranger. Well there's no way to verify if the gambler is underage as long as he's not submit his KYC and there's a chance if he use another person KYC who's older than him e.g. brother, uncle, father etc.

[savetheFORUM]

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.

Multi-million dollar? The market value of the online gambling industry was over $63b in 2022, and it's expected to grow with over an 11% compound annual growth rate (CAGR) from this year onwards. So it's way more popular and valuable than you think and it's growing so rapidly that it will soon become a trillion-dollar industry.

The convenience of online gambling has given gamblers a new way to continue their gambling activities after the pandemic caused by Covid-19 and that convenience has been accepted very broadly by the world which is evident by the growth rate of the industry.

[Pierre 2]

I think its undeniably big nowadays because we can observe big sponsorships happening around between online gambling platforms and many sports teams and athletes. 10-15 years ago people would be surprised to see these kind of things happening. Anyways it's pretty normal. When you can gamble from your home or workplace or even a park, why wouldn't you? When you lift these invisible borders it was obvious online gambling getting bigger. I think it didn't even reach its peak. Smart phones will make it more and more popular.

[xSkylarx]

I think its undeniably big nowadays because we can observe big sponsorships happening around between online gambling platforms and many sports teams and athletes. 10-15 years ago people would be surprised to see these kind of things happening. Anyways it's pretty normal. When you can gamble from your home or workplace or even a park, why wouldn't you? When you lift these invisible borders it was obvious online gambling getting bigger. I think it didn't even reach its peak. Smart phones will make it more and more popular.

Before, I just noticed that those big companies were only sponsoring those events, and it was rare to see those gambling platforms advertising themselves, but now almost all sports or athletes have sponsors, even celebrities. That is why the gambling industry is really booming these days, and most people advertise it through those influential people. For sure, this will be more in the future as people can easily gamble through their phones or laptops.

[alastantiger]

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?

I knew it. The gambling industry will soon almost be as big as the crypto sector... this may be an exaggeration but there's some truth to it. Marketing to me has played one of the since biggest role in its expansion. Everywhere you go, any where you turn to there is a sports betting ad, there's a famous person endorsing sports betting, there is a pop-up on your phone inviting you to sign up on a betting platform and them making a mouth-watering offer for first timers. How can you resist when your friends are up and about it doing their own informal and unconscious marketing.

[$crypto$]

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.

Even after the end of Covid-19 and now it's almost free where the gambling industry has never decreased I know it's increasing steadily as many play making gambling platforms now able to do ad promotions on other big sports so they have a lot of input money because of traffic a lot of gambling players.

We never know about these statistics, but now they have a lot of interest from the gambling industry, more and more casinos have sprung up because this is a promising business, we as players don't expect too much to win, just do it for the sake of having fun.

[jrrsparkles]

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

[dimonstration]

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

[jrrsparkles]

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

Networth is also not the accurate stat to calculate who is more rich person, however I am not meant that a casino owner is one among the top richest individual in the world but collectively gambling and gaming is highly profitable industry but I can't find the article which I came across about such stats in the recent past.

Wagering amount can be a point to consider because we all know in gambling house has better edge so most of the time the casino will be in the winning side and in particular games they give huge rewards like in millions so imagine if they can afford such huge amount then their profit will be higher than that.

[SirLancelot]

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.

Of course, it's outgrowing the traditional online casino industry because it lacked a lot of things that cryptocurrency casinos offer, starting with very quick deposits. With traditional casinos, one would need to wait for days until their deposit arrived in the platform, but with crypto, all you need to do is go to your wallet and send the coins to your casino account, and boom, received them in a couple of minutes.

Traditional casinos also didn't have probably-fair gaming where a user can verify their bets whether are legit and aren't rigged or manipulated by the system or the managers of the platform. There are a lot more features that make cryptocurrency gambling a better choice.

[darewaller]

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.

Same goes to cryptos. We also saw a huge boost in their prices during the pandemic era. At first, people speculated the opposite thing but it was surprising on how the unexpected thing have occurred.

I guess that is because people never losses their hope and they don't just sit there in the corner but they still find ways to hustle, mostly online. They sell stuffs in social media sites, join this forum to earn a crypto, and many more. Other than that, the government is also providing cash assistance. There's even a news reported that people are spotted to gamble using their cash relief and some are using it for crypto investing instead of buying their basic needs in life. Kinda insane if you ask me.

[ChiBitCTy]

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry.  Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address.  Then you can bet anywhere, but must set up the account at the casino to start.  Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion.  Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

[bittraffic]

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry.  Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address.  Then you can bet anywhere, but must set up the account at the casino to start.  Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion.  Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

[Oasisman]

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

Gambling industry will not gonna get close to any of those top billionaires' line of businesses, in relation with what you have said, it's not being used by a certain individuals in a daily basis like the consumer does with all the basic necessities in a daily basis, gambling industry only has a small percentage of market globally. Statistically, we have like almost 70% of the people globally who doesn't gamble at all, divide that remaining 30% into a hundreds or thousands of online casinos/land base casinos globally.
The good thing about gambling industry is that the profit are actually limitless compared to the limited products with a fixed price.

[xSkylarx]

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry.  Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address.  Then you can bet anywhere, but must set up the account at the casino to start.  Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion.  Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

this is really also a problem as it will attract more newbies to gamble that is why there are a lot of people that educating other people by teaching them the risk towards gambler and other are having free consultation or mental support through online to those who are addicted to gambling. I hope that you government will also like have program for those addicted to gambling and not just focusing to on regulating those casinos

[BobK71]

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?

I knew it. The gambling industry will soon almost be as big as the crypto sector... this may be an exaggeration but there's some truth to it. Marketing to me has played one of the since biggest role in its expansion. Everywhere you go, any where you turn to there is a sports betting ad, there's a famous person endorsing sports betting, there is a pop-up on your phone inviting you to sign up on a betting platform and them making a mouth-watering offer for first timers. How can you resist when your friends are up and about it doing their own informal and unconscious marketing.

The most effective factor behind the transition of the global gambling industry is the use of smart phones. Even a decade ago, gambling was not seen anywhere, but now it is widely used everywhere. Another factor that has played an important role for this is the easy availability of internet. The ease of online gambling from anywhere in the world has essentially taken the industry to a different level. According to a 2022 report by Online portal, the value of the online gambling platform reached about $63.55 billion and will continue to grow in 2023. I agree with this though that In the future this industry is going to be bigger than any other big industry.

[Wapfika]

The most effective factor behind the transition of the global gambling industry is the use of smart phones. Even a decade ago, gambling was not seen anywhere, but now it is widely used everywhere. Another factor that has played an important role for this is the easy availability of internet. The ease of online gambling from anywhere in the world has essentially taken the industry to a different level. According to a 2022 report by Online portal, the value of the online gambling platform reached about $63.55 billion and will continue to grow in 2023. I agree with this though that In the future this industry is going to be bigger than any other big industry.

Smartphone and internet are both widely available already during 2015 or earlier yet online gambling industry is still not boom compared to its current state. Pandemic is the catalyst for the rise of fame of online casino. Streamers started to stream online casino on this period since everyone is bored in the house. This makes everyone interested in online gambling since physical casino is closed during that time.

The convenience and availability of online casino was appreciated during pandemic that result to the increase of demand due to the trend. Right now, online casino is still booming since many user that started hook in online casino was referring their friends and relatives plus the increase number of streamers that using online gambling as content.

[Weawant]

I think its undeniably big nowadays because we can observe big sponsorships happening around between online gambling platforms and many sports teams and athletes. 10-15 years ago people would be surprised to see these kind of things happening. Anyways it's pretty normal. When you can gamble from your home or workplace or even a park, why wouldn't you? When you lift these invisible borders it was obvious online gambling getting bigger. I think it didn't even reach its peak. Smart phones will make it more and more popular.

In addition, we now have crypto sportsbook joining the already growing industry and with the force they're coming with, they are already dominating  as most of the big money sponsorship in sports are now crypto related gambling sites and it will keep growing.

Crypto casinos are having a competition with in each other as they're looking for which site can have the most impact and get the customer to gamble using their site. Crypto casino aren't regulated so they can be started more easily compared to the others.

Cryptocurrency has also help the industry as it has made deposit and withdrawal almost instant and these are the things that make people want to use crypto gambling sites over the others and they're contributing to how big the industry is becoming.

[lizarder]

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

Talking about their business they definitely don't think about the impact on people who lose money because of gambling. Gambling has been around for decades before and although for each regeneration it will continue to be adjusted to the times, the online casino version is the most popular in all regions because of the convenience of gambling with just a few clicks via a smartphone. The availability of the internet is also very helpful for the online gambling business to continue to grow, because people can access it even though they are at home or at work.

Influencers also play a role in promoting gambling sites and they have a target market on their social media platforms. The gambling industry is the same as other business developments and even though there are pros and cons along the way, I think this industry will grow rapidly every time as long as they provide easy access for gamblers.