Global Online Gambling Industry Statistics and Trends (New Case Study) – nativenewsonline.net

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We analyzed over a hundred online casino platforms to understand the current state of the iGaming industry and determine its long-term potential.

Specifically, we looked at player base, revenue, gaming licenses, problem gambling and more stats that should help us get a complete overview of the market.

Using data from Statista and GlobalNewsWire, we managed to discover some interesting findings.

Now, its time to share what weve uncovered.

Finding the exact number of online casino players is nearly impossible.

There is no way to determine the market value globally, but data scientists from Grandview Research expect the market to reach $127.3 billion by 2027 with a CAGR of 11.5%.

The massive growth prediction comes from the rising popularity of online sportsbooks and the freemium business model of online casinos that lure players with no deposit bonuses. Also, the massive smartphone adoption and cheap internet data plans are driving the market towards exponential growth.

At the moment of writing, the American Gaming Association (AGA) estimates that there are over 2800 active gaming websites that offer bingo, lottery, poker and slot machines.

Here are some key findings from our analysis:

More gambling experts are starting to realize that the transition to the digital environment is inevitable. Soon, online casinos will take over the land-based market and replace the fancy and posh casino with advanced virtual environments that replicate the same feeling from the comfort of your house.

But what are the main reasons why online gambling is the future of the casino industry?

Lets find out.

Technological advancements allow gambling operators to expand their reach and improve their user experience.

The industry is now working on enhancing the gambling experience by blurring the lines between reality and virtual. Another concern that operators have is that not all players are 100% safe when gambling online.

Here are the most important gambling trends for 2021:

One of the main driving factors of online gambling is the implementation of cryptocurrency payments.

Ethereum, Bitcoin and other coins are quickly becoming a mainstream payment method, which most gamblers would prefer using instead of e-wallets thanks to the advantages that they offer, including:

This year, cryptocurrency has finally reached the attention of the masses.

That automatically translates to increased demand for crypto payments, especially for gambling purposes. Thanks to crypto, your online transaction activity wont be leaked to third parties so that you will be more protected from scams and hackers.

Pirate casinos are already a thing of the past.

Twenty years ago, internet gambling was still in early development. Therefore, the operators could freely change the odds of the games, lie about the bonuses they offer or even deny to payout large amounts.

Today, scamming players can potentially lead to a permanent ban or even jail time. There are dozens of institutions responsible for regulating gambling platforms and issuing licenses, as well as testing institutions that verify if the operator has tampered with the games algorithm.

Here are the four primary regulators that you can trust when gambling online:

Whenever you join a new casino, check out their footer to see if they have a legit gambling license. Additionally, see if they are monitored by a Random Number Generator testing company like eCOGRA. This way, you will ensure that youre gambling in a safe environment without having to worry about getting scammed.

VR and AR technology is expected to become the next big thing in the gaming industry.

Even though the media overhyped the technology in the past few years, it is finally coming to the online casinos. Game providers like NetEnt or Microgaming have announced that theyre already working on several VR and AR titles, including their staple slot machine Gonzos Quest.

To top it off, there is a rumour that gambling giants are discussing creating a functional VR casino that will allow players to meet and gamble real money in a land-based casino without leaving their homes.

Only time will tell if Virtual Reality is a great technology, but from what weve seen so far, we expect it to impact our gambling behaviour and change the way we use online casinos forever.

Sociologists expect globalization to reach a tipping point soon.

Technology is the main reason why globalization is possible on such a large scale. Therefore, countries, where gambling content is restricted will have no choice but to allow their citizens to place wagers online in a regulated environment.

Cryptocurrency and off-shore gambling sites already allow players from restricted countries to join the action and enjoy casino games in a licensed environment. Elon Musks Starlink will also contribute to the global internet movement, making online gambling available anywhere in the world.

Playing casino games is entertaining, but its important to mention that it can also lead to compulsive behaviour.

The risk that gambling carries goes beyond losing some money. It can harm your relationship, career or even lead to serious mental illnesses.

Here are five key problem gambling statistics that you need to consider:

We hope you enjoyed our in-depth online gambling case study.

The key takeaway?

Online casinos are leading the market, and they will continue to do so as more operators start to implement cryptocurrency payments and get licensed internationally.

Still, it would be best if you were careful not to fall into the trap of gambling addiction, which is constantly growing as casinos become more accessible to the masses.

Good luck!

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Global Online Gambling Industry Statistics and Trends (New Case Study) - nativenewsonline.net