According to reports, the global online gambling market size will grow to around $172 billion by 2030. This growth represents his CAGR of 11.6% over the same period. This growth can be attributed to the fact that online gambling has been arguably the fastest growing industry in the world over the last decade. Millions of gamblers log into various platforms to gamble every day. As a result, the revenue generated by the operators is huge, boosting the global online gambling market.
Factors of sustainable CAGR in 2022
Penetration of smartphones
Mobile gambling has emerged as the most popular gambling mode worldwide. While facing restrictions alongside online gambling in some regions, the mobile gambling market is projected to continue growing in 2022.
In this regard, many online casino operators are developing mobile apps and mobile-optimized websites to cater to the needs of mobile gamblers.person who enjoys Joe Fortune’s Online Blackjack Game I would like to be able to access my game on mobile devices. Such requests from users have also inspired game developers to create online casino games using his mobile-first approach.
In addition, mobile payment methods such as pay by phone, apple pay, and others have contributed to the growth of the industry. These payment methods have shortened the time for deposits and withdrawals and have led more people to bet online.
sports betting
Most online casinos now include a sports betting section. This approach has helped us significantly boost our bottom line. For example, an industry expert claims that the sports betting industry he predicts will grow to about $139 billion by 2028. This growth rate is his CAGR of over 10% over the same period. Live sports action is now available every day. In other words, bettors have events to bet on every day.
Besides that, World Cup Soccer is the most betted sport in the world. As a result, online casinos that operate a sports betting section have plenty of markets to offer their members. Casinos, on the other hand, no longer rely on live sports. growth of esports This gives you even more options.
Other sports that are growing in popularity among bettors include basketball, tennis, American football and horse racing. With important events in all these sports this year, you should expect sports betting activity to reach an all-time high this year. Sponsorship agreements between casinos and sports organizations also increase the recognition of casinos worldwide.
market segmentation
can be split global gambling market They are grouped into three categories using type, device, and region.
- type: The online gambling market is categorized into five major types such as casinos, sports betting, bingo and poker. According to research, the sports betting sector is expected to lead the market in 2022. In addition, the online casino sector is also expected to perform well throughout the year.
- device: The device segment is divided into desktop, mobile, and other. The desktop segment saw significant online gambling activity in 2021. This is because people enjoyed larger screens that were easier to see. In any case, mobile gambling is expected to grow significantly in the coming days due to the spread of smartphones.
Regional Outlook
The global gambling market is segmented into the following regions:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- latin america
Europe is a major region for online gambling activity. Additionally, an expert expects online gambling activity in the region to surge in his 2022. Their top spot is largely due to the region’s growing sports industry and deregulation of online casinos. Additionally, many major online gambling operators are located in the region.
Conversely, Asia Pacific is projected to register the fastest growth between 2022 and 2030. Experts attribute the rapid growth to rising smartphone penetration in China and India.In addition, rapid urbanization and increase in internet Penetration is a factor. Other observers believe that the increasing adoption of cryptocurrencies in online gambling is having a positive impact on the Asia-Pacific online gambling market is also responsible for the growth.
final thoughts
The casino market is one of the most profitable industries in the world. However, it is highly competitive and operators need to offer the best products and services to remain competitive. This competition has come as a blessing in disguise as it will allow gamblers to enjoy the best services.As more gamblers join the online gambling community, the industry will enter his 2022 unprecedented expected to grow at a rapid rate.
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