The Growth Of The Online Gambling Market

The Growth Of The Online Gambling Market

For more than a decade, the gambling vertical has been under active development, each year covering new regions.

During the last two years, online gambling has firmly consolidated its leadership position. This is due not only to the growing number of online slots review, and the introduction of new products and technologies, but also the growth of the virtual gambling industry is a consequence of self-isolation, in which the population of many countries is staying. 

The prolonged lockdown and the change to remote work are forcing people to look for new ways to entertain themselves at home with the help of the Internet. The expansion of mobile gadgets and the adaptation of gaming software for smartphones expand the reach of the market.

Online gambling clubs, advertising their products on popular resources and promoting in all directions, have flooded the entire media space and managed to increase the number of players worldwide several times. In the same progression, the total revenue of casinos is increasing and the scale of establishments is growing.

Most analysts agree that the online segment will grow by 11.5% per year. In 2023, the market will reach a volume of about $ 93 billion, which is 40% more than last year.

Why is it Gambling?

Gambling has been popular for centuries, and with the advent of virtual sites, having fun and quenching your thirst for risk has become much easier. 

Gambling is a broad concept that includes gambling for money and not only. The table is conventionally divided and presented six gambling offers:

CategoryShort Description
CasinoA gambling establishment with a wide range of products: cards, roulette, poker room, slot machines, etc.
BettingA platform where users bet on the outcome of sporting events. Each sport involves its own system of coefficients. There are also varieties of political betting and bets on other significant events in the world.
CybersportCompetitions on computer games in the team or individual contest.
Poker and card gamesThe gameplay is against real players. This means only one thing – having experience plays into your hands and will help you rip a big score. The goal is to win the bet, which is formed by collecting a higher combination, or forcing your opponents out of the game.
BingoThere are many fans of this game around the world. The point is to fill in the numbers on the cards as quickly as possible. The main opponent is a gambling establishment.
LotteriesThe winnings rely entirely on luck. Coveted tickets are issued automatically after depositing funds into the balance. The subject of the winnings are solid prizes.

In many countries, players in the gambling market operate under an official license and on legitimate grounds.

Rise in Popularity of Mobile Gambling

Data for 2017 shows that only 10% of the total number of players use portable devices for gambling. Today, a large half of gamblers run game software online via smartphones and tablets. In 2023-2025, the rate of mobile gambling is expected to reach 60%.

Not only is the number of users increasing, but also the amount of time spent on online sessions. After all, gameplay can be done at any time and in any place.

Mobile technology has become widespread in gambling. Prominent game software developers provide mobile versions based on advanced programming languages, such as HTML5. Adaptive versions are characterized by faster loading, consuming a minimum amount of traffic, and offer the same functionality as the basic versions.

Mobile casinos are divided into two main groups:

  1. Browser-based. Doesn’t require a download, but works on the basis of a web browser. It’s enough to click on the link and the adaptive version will adjust itself to the screen.
  2. Apps. A separate program requires downloading to a smartphone or tablet according to the operating system. The design, functionality is identical to the full version. The controls are adapted to the movements of the fingers on the touch screen.

Regardless of the option to use, the gambler can make an account, become a member of promotions, and bonuses, take part in tournaments, be in touch with the support team around the clock and get support if it is needed.

It is notable that projects with 3D graphics and live games run from the mobile without crashing, stuttering or declining quality.

Innovations in the iGaming Business

Virtual reality is gradually entering various industries – the gambling industry is not neglected. 

iGaming only affects online entertainment. Therefore, VR technologies are steadily entering this niche. They represent an artificially generated world in which the gameplay takes place as in a land-based casino and is even more interesting. Virtual reality glasses and special controllers are necessary for immersion. 

The next step in this direction is to open a live casino with VR technology. The gameplay is conducted in a special studio with an online broadcast. High-tech 3D cameras and VR headsets convey the atmosphere and allow players to communicate and interact with each other at the table. 

Now you can play blackjack or poker, spin the reels or roulette in virtual reality at the comfort of your own home. Thanks to touch-sensitive stimulants, a complete immersion takes place.

Leading providers in VR technology:

  • Microgaming;
  • Lucky VR;
  • Topgame Technology;
  • NetEnt.

This is only the beginning. VR products for gambling are in their beginning stages. But the genuine interest in this area and the great potential is evident for all market players.

Market for Crypto-Gambling

A blockchain-based gambling establishment or cryptocurrency casino is a gaming platform based on decentralized technologies without intermediaries. This implies full control over financial transactions, including deposits and withdrawals, bets and winnings. Payments move directly and smoothly.

A robust blockchain mechanism eliminates data falsification. Therefore, visitors of the resource receive guarantees that they will not be cheated.

Gambling sites can leverage blockchain by introducing slots built entirely on the technology, or providing cryptocurrency transaction capabilities. Bitcoins allow you to remain anonymous and enjoy fair play.

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