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Is Increasing Usage Of Smartphones And Internet Access Driving The Online Gambling Market?

Online Gambling Market Report 2021 - COVID-19 Growth And Change

Online Gambling Global Market Report 2021 - COVID-19 Growth And Change

The Business Research Company’s Online Gambling Global Market Report 2021 - COVID-19 Growth And Change

LONDON, GREATER LONDON, UK, October 27, 2021 /EINPresswire.com/ -- Increasing adoption of smartphones with improved internet accessibility is driving the online gambling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, the mobile users account for about 80% of all users in the online gambling industry. According to the study published on the Rub90 portal, the share of gamblers preferring smartphones to participate in gambling grew by 117% between 2012 and 2018. According to the report Gambling Participation in 2019: behavior, awareness and attitudes, 18% of the respondents gambled online at least once while 21% of the respondents gambled in 2019. According to Cisco company's annual report, globally, the total number of internet users is projected to grow from 3.9 billion in 2018 to 5.3 billion by 2023 at a CAGR of 6 percent, and smartphones will grow at a 7 percent CAGR. This in turn is expected to drive the online gambling market.

The global online gambling market size is expected grow from $64.13 billion in 2020 to $72.02 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $112.09 billion in 2025 at a CAGR of 12%.

Read More On The Global Online Gambling Market Report:
https://www.thebusinessresearchcompany.com/report/online-gambling-global-market-report

Major players covered in the global online gambling industry are 888 Holdings PLC, Bet365 Group Ltd., Betsson AB, William Hill PLC, GVC Holdings PLC, Kindred Group PLC, Sky Betting & Gaming, Stars Group Inc., Ladbrokes Coral Group PLC, Paddy Power Betfair PLC.

Technologies such as Blockchain, IoT and VR are changing everything in every field including online gambling. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are revolutionary addition to the world of online gambling. With VR, one can actually enter into a virtual casino and play all the games without having to travel. However, fraud and cheating were majorly concerning the users in online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. Games such as SlotsMillion, Casino VR Poker, and The Gear that are played through VR are engaging the customers and are shaping the online gambling industry.

TBRC’s global online gambling market report is segmented by game type into betting, casino, lottery, poker, online bingo, others, by device into desktop, mobile, others.

Online Gambling Global Market Report 2021 - By Game Type (Betting, Casino, Lottery, Poker, Online Bingo), By Device (Desktop, Mobile), COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provides online gambling market overview, forecast online gambling market size and growth for the whole market, online gambling market segments, and geographies, online gambling market trends, online gambling market drivers, restraints, leading competitors’ revenues, profiles, and market shares.

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