According to recent research, the online gambling vertical’s global market size has all chances to reach 77.42 billion dollars.
The 2020 news about the gambling industry hasn’t always been positive due to COVID-19. However, the online vertical was thriving because many players moved to digital gambling. It is expected that the sector will increase by 7.91% in terms of a compound annual growth rate within the period of 2019-2026.
What are the major reasons for booming?
The latest study informs that the major factor that will stimulate the industry is, first of all, the increase in the number of players who gamble on mobile devices. In addition to this, even those states, which haven’t had a good Internet connection before, improve the situation and implement it. The development of a wide range of mobile apps for sports betting will also contribute to the market size’s growth considerably.
As more and more casinos move to the online sector and many users prefer mobile phones for gambling, this tendency will remain in the future throughout the world. The study predicts that Europe and North America will be the main regions where mobile technologies will dominate. As a result, they will have the largest market share. Application of cutting-edge technologies, innovations, development of new smartphone-oriented products, and safer online payments will drive the industry.
However, not only mobile solutions will be the main boosters. The development of Telegram and VR casinos will also influence the iGaming market. Moreover, lots of gambling platforms will become blockchain-friendly to make payments faster and more secure.
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