The term “online gambling” refers to all types of gambling conducted on the Internet via websites. Global Network has opened up new opportunities for gambling, which became available in an online form. The technology development has changed players’ habits, just like slot machines, keno and scratch cards had changed the gambling business in the early 20th century.
What is online gambling?
Online gambling began to gain popularity with the spread of the Internet. Their audience is very wide, they are available to users in almost any country, regardless of whether these games are illegal or bring profit to the budget. The tendency to spread will only strengthen – analysts predict annual growth of the global online gambling market.
According to the GBGC agency, online gambling market profits amounted to $41.4 billion based on 2014 data.
Online Gambling Games Review:
- Poker: Texas Hold'em, Omaha, Seven Card Stud and other games; users can play against each other or against the computer program, participate in tournaments, etc.;
- Casino: all main games that can be played in casinos are available to players – roulette, blackjack, baccarat, slots, etc .;
- Sports Betting : first of all, these are monetary bets on the sports events’ outcome placed on the bookmaker’s website;
- Lotteries: Initially, online lotteries were private, but in many countries this segment of online gambling is strictly controlled by the government, as it is a significant source of revenue for the budget.
Read more: Online Gambling in Eastern Europe (part 1)
Attitude to Online Gambling in the World
According to a study conducted by Key to Casino, about 50% of countries in the world allow their citizens to visit gambling websites. In total, the study covered 225 states and territories, including partially recognized ones.
In 60 countries, online gambling is allowed (some kind of it): in certain provinces of Canada, many European states, such as Germany, France, the United Kingdom, the Netherlands, etc., post-Soviet countries, for example, Belarus. In about 40 countries, online gambling is completely prohibited by law. This does not mean that their inhabitants do not have access to all gambling games. About 30 states allow online casinos and bookmakers to work on their territory, but their citizens are denied to open their own business in this area. In 27 countries, traditional land-based casinos are legal, and online casinos are prohibited.
Read more: Benefits of Licensed Online Casinos
According to the GBGC research, the total revenue of the global online gambling industry in 2018 was €42.8 billion. Europe will remain the leader in terms of profitability, but Asia will come close to its performance. Online gambling revenues in the United States will increase by 2 times. However, in the coming years, online gambling is unlikely to occupy more than 10% of the global gambling market.
Growth is expected in all branches of online gambling, except for bingo. Online bets will be on top, online casinos will start to generate 2 times more profit, the markets of state-owned online lotteries, commercial lotteries and online poker will also increase their income by more than 2 times.
As mentioned earlier, the Chinese government supported Cambodia in their efforts to introduce a ban on online gambling activities.
Read more: Online Gambling in Eastern Europe (Part 2)