In 2018, the size of the worldwide web based gambling business sector was estimated at USD 48.52 billion and is relied upon to enroll a CAGR of 11.5% from 2019 to 2025. The huge market demand is driven primarily because of the high web penetration and ever-expanding popularity of cell phones among gamblers who plunge themselves into online casino games. What’s more, various factors there are various factors that are substantially adding to the market development. These basically include simple access to web based betting, legitimization, cultural and social endorsement, corporate sponsorships, celebrities approval and so on. The increasing accessibility of financially effective mobile casino apps worldwide is additionally expected to fuel the growth of the online gambling market. Go on reading to find out more details about the growth analysis of the online gambling market, stay tuned with all the recent trends, and learn our online gambling forecast specifically for the US gamblers!
Getting to Know the Online Gambling Market
The web has become a highly efficient worldwide platform that empowers vendors to offer their cool services to online users. In such a way, online casino operators offer their exciting gaming and betting services on the Internet. According to recent trends, online consumption of services on the global market has expanded by 28% yearly since the last decade. With the increasing popularity of the Internet, the development pace of online casinos has substantially expanded as well. Evidently, the raising public awareness and finances growth along with impressively fast development and implementation of the latest technological advancements incredibly contribute to the online gambling market development and serve as its key drivers.
Online advancements considerably contribute to the yearly development of web based casinos. These improvements are made to accomplish the ideal credibility and fairness of online gambling. Consequently, online casinos are concentrating on putting resources into efficient information solutions aimed at offering 24/7 customer support to online casino players, guarantee fair gameplay and safety, ensure transparent fast and easy gambling transactions, and make sure that everything is legal and trusted. Besides, many gambling websites encourage their new visitors to try various free games to make them interested in online gambling. There are also lots of cool promotions that you can expect in various online casinos! Naturally, it substantially contributes to the online gambling market growth. NativeCasinos.com shares various gambling perks you can taste as an online casino player are available at the real web-based gambling expert!
The expanded advancement of new technologies and break-throughs, for example, VR and blockchain, is additionally driving the development of the web based betting industry. This might be credited to the way that few organizations are currently incorporating the highly advanced blockchain technologies into their online casinos. In such a way, gamblers can be absolutely sure in their straightforwardness, which results in their greater entertainment and enjoyment from the betting exercises as well as the upgraded gambling experience. What’s more, blockchain-based online casino platforms are totally decentralized and liberated from any third-parties influence. In such a way, gamblers can enjoy various gambling perks of web based casinos.
Unfortunately, cybercrime is also expanding at a quick rate on the online gambling market, which is quite natural, in fact. Web based casino operators have to struggle with signal manipulation through fake mobile applications and application based hacking as well as many other significant concerns hampering the growth of the Internet based gambling market. The web based betting industry is likewise seeing an expanding danger of application based hacking. Moreover, habitual betting may result in a grave issue known as the problem gaming. It can negatively influence a person’s wellbeing and social connections, and lead to mental problems (depression, frustration, suicide tendensies etc.) as well as substantial material losses. Hopefully, all these issues will be effectively addressed so they don’t hinder the growth of the online gambling market.
Legal Aspects of Web Based Gambling
In fact, nowadays, more and more states across the world have started legitimizing Internet betting since it offers a high pace of work and aides in income age. For example, in India, Internet betting has been made lawful in Sikkim and Goa. Also, cooperation in web based betting permits players to encounter betting exercises progressively through Internet providers. The developing number of sports supporters over the globe has powered the interest for sports wagering. Greater part wagers are set on boxing, baseball, football, and hockey sports, which is, thus, driving the drastic development of the web based betting business sector.
Web based betting is fairly considered among the most popular activities in the world. However, it’s highly important to make sure that you are playing in a licensed casino. On the global scale, there are over 80 gambling commissions that are authorised to issue online gambling licenses. Check them out to be aware of all the online gambling licensed that are 100% to be trusted:
- North American and Central American casinos are usually regulated by the Kahnawake Gaming Commission, Nevada Gaming Control Board, New Jersey Division of Gaming Enforcement, and Panama Gaming Control Board.
- European casinos have to be licensed by the UK Gambling Commission, Autorite de regulation des jeux en ligne (France), Amministrazione Autonoma dei Monopoli di Stato (Italy), Spanish Gaming Commission, Gibraltar Licensing Authority, Gambling Supervision Commission (Isle of Man), Malta Gaming Authority, Alderney Gambling Control Commission, Jersey Gambling Commission, Belgian Gambling Commission, Danish Gambling Authority.
- Caribbean gaming and betting websites are considered legal and safe if they are licensed by the Curacao Internet Gambling Association, DAC (Aruba), Antigua Division of Gaming.
- Asia web based gaming is regulated by The Philippine Amusement and Gaming Corporation, the First Cagayan Leisure and Resort Corporation (FCLRC).
- Australia and Oceania online casinos have to be licensed by ACT Gambling and Racing Commission, Northern Territory Director-General of Licensing, Vanuatu Customs and Inland Revenue.
Desktop and Mobile Gambling
Desktop gambling ruled the market in 2018. The huge screen size contrasted with cell phones and different gadgets empowers online casino enthusiasts to appreciate the illustrations and mind boggling subtleties of the gameplay. What’s more, performance parameters that include ultimate sound volume, picture quality, and storage capacity can be perfectly balanced for improved desktop gaming experience. These factors have greatly added to the development of desktop online gaming.
Mobile gaming is becoming even more popular these days! Extraordinary technological advancements and substantially upgraded gaming graphics on smartphones and tablet PCs have immensely contributed to the boundless popularity of mobile casinos. In addition, web based betting permits people to bet from any location and offers a continuous gaming experience. The wide accessibility of cell phones with high-end features (e.g., improved graphics and extended storage capacity) also substantially adds to the online gambling market development. Versatile Internet betting offers players different advantages and mobile gambling perks, such as loyalty points, increased deposit limits, and opportunity to play with other online casino players from anywhere across the globe.
Top Forms of Online Gambling
As you might have guessed already, there are many different forms of betting on the web. Basically, the online gambling market can be divided into the following sections:
- Sports Betting, e.g., Football, Horse Racing, E-sports, Aussie Rules, Soccer, Badminton, Winter Olympics, Baseball, Snooker, Table Tennis, Basketball, Boxing, Golf, Rugby Union, Rugby League, Handball, Cricket, Hockey, Cycling, Horses Futures & Props, Darts, Tennis, Motor Sports, UFC / MMA, Entertainment, Virtual Sports, Gaelic Games, Politics, Numbers Game, Winter Sports, Other Sports;
- Casino, e.g., Live Casino, Baccarat, Blackjack, Poker, Slots, Others Casino Games;
The games wagering fragment ruled the market in 2018 inferable from the developing utilization of computerized stages over the world. Besides, the rising extra cash in Asia Pacific has brought about a higher spending limit, which is likewise expected to impressively add to the growth and further development of the global online gambling market. Live-action wagering and fixed-odds wagering belong to the well known sorts of web sports wagering. As for online poker, it has earned its immense attention especially from undergrads. The section is relied upon to enroll a huge CAGR inferable from the wide fame of online games. Throughout the years, convenience of poker related financial transactions has been one of the most significant factors adding to online poker’s popularity.
The web based sports betting is particularly popular during the first class global sports events such as FIFA World Cup and European Championships. Besides, web based sports betting is highly popular among those interested in horse racing and greyhound racing. A significant number of online sports betting organizations are supporting different teams as their key strategic expansions and top marketing initiatives. For example, a European pioneering online sports brand known as bwin brand has gained worldwide acknowledgment through its prominent sponsorships of such popular football clubs as Real Madrid and AC Milan. Moreover, for the 2018 World Cup, the Gaming Innovation Group (GiG) launched an innovative advanced platform for online sports wagering, which has also substantially contributed to the development of the global online gambling sector.
Online Gambling Local Insights
Europe overwhelmed the market in 2018 with a market size of USD 19.91 billion. The development can be ascribed to the legalization of web-based gambling in such countries as France, Germany, Spain, Malta, and Italy. Other good factors for advertisement development incorporate the rising utilization of cell phones, accessibility of fast web, and rising fame of online club. In addition, the Gambling Act 2005 set up by the U.K. Gambling Commission (UKGC) has allowed organizations to promote their betting locales, which is additionally contributing to the market development.
In the meantime, the developing utilization of Internet providers and unwinding of guidelines relating to web based wagering and betting are relied upon to drive the development of Asia Pacific market over the gauge time frame. Likewise, the developing notoriety of bitcoins has brought about the expanded utilization of computerized monetary forms for wagering in the area. The high monetary development of the Asia Pacific district, combined with expanded spending on relaxation exercises, is relied upon to help the market development over the figure time frame. Macau and Hong Kong are two of the noticeable games wagering and income creating nations in the district.
Peculiarities of the US Web-Based Gambling Market
Online as well as offline gambling in the United States is overall legal, however, the laws differ from one state to another, that’s why there are still some regional peculiarities that you need to check in case you are interested in gambling in a specific state. On our website, you can check all these peculiarities of each state providing that you visit a specific webpage devoted to the state that interests you most.
Talking about general US laws, gambling has been legalized since 1961 when there were adopted Indian Gaming Regulatory Act and Interstate Wire Act of 1961. In case you are eager to gamble offline, consider going to Nevada, which is considered the most gambling friendly state since here you can legally go in for different forms of gambling since all of them (except for lotteries) are absolutely lawful.
As for online casino gaming, which undoubtedly interests you most, the present enactment system for web based wagering in the United States permits just bookmakers authorized in Nevada, Pennsylvania, and New Jersey to work lawfully, as these are the three states where web based wagering is managed. Pennsylvania is the fourth and greatest state to sanction and manage web based betting. The new law takes into consideration online casinos, online poker, sports wagering etc. New Jersey is now the biggest market for controlled web based betting in the United States. There are various games books and online games wagering applications live in the state. Good news is that you can also legally play in offshore online casinos that accept gamblers from the USA.
Nowadays, the main operators of the web based gambling venues include the following: Bet365 Group Ltd.; William Hill PLC; Paddy Power Betfair PLC; Ladbrokes Coral Group PLC; Betsson AB; Kindred Group PLC; The Stars Group Inc.; Sky Betting & Gaming; 888 Holdings PLC; and GVC Holdings PLC.
US Gambling Revenues
American Gaming Association claims that gambling plays an exceptionally essential part for the state’s economy since the US gambling industry is estimated at $261 billion and provides jobs for over 1.8 million Americans from 40 states.
According to Statista, since the gambling legalization the US economy has been substantially enriched. The graphic below serves to illustrate the yearly revenue made in different US cities and states within 2018:
- Las Vegas Strip, NV — $6.59 bln;
- Atlantic City, NJ — $2.56 bln;
- Chicago, IL & IN — $1.91 bln;
- Washington D.C. / Baltimore, MD — $1.62 bln;
- New York City, NY — $1.5 bln;
- Detroit, MI — $1.44 bln;
- Philadelphia, PA — $1.3 bln;
- Louis, MO & IL — $1.04 bln.
Based on the statistical data retrieved from the Center for Gaming Research University Libraries, we can tell you that the total gambling revenue in the USA in 2017 was as large as $158.54 billion: $41.2 billion — commercial casinos, $31.945 billion — tribal casinos, $1.9 billion — card rooms, $80.55 billion — lotteries, $248 million — legal bookmaking, $295 million — pari-mutuel wagering, $2.15 billion — charitable games and bingo. For you to compare, in 2015, there was the following revenue distribution across the United States regions: West – 31.78%, Midwest – 22.21%, South – 18.83%, Northeast – 27.24% (United States Commercial Casino Revenues).
The Percentage distribution of the 2015 United States Gaming Revenue across the states can be easily observed in the table below (United States Commercial Casino Revenues).
In 2018, the overall gambling situation in the USA has improved even more impressively as the gambling revenue was the following: Commercial Casinos brought the total revenue of $51.4 Billion, Tribal Casinos gained $32.801 Billion, Poker Rooms enriched the state’s budget with $1.9 Billion, Lottery Revenues brought $72 Billion, Legal Bookmaking resulted in $430.6 Million, US Online Gambling brought $306.5 Million, Pari-Mutuel enriched the US budget with $299 Million, Charitable Games / Bingo brought as much as $2.1 Billion (AGA).
Gambling Trends of the US Gamblers
Statista survey of 2018, demonstrated that 69% of the questioned Americans think that gambling is morally acceptable, 28% Americans claim that gambling is morally wrong, 1% of the American respondents think it depends, and 2% of the questioned Americans prefer not to share their opinion. You should also find it interesting to find out that 57% of American gamblers are females (2013 survey by SuperData Research). Talking about the average gamblers’ age, as many as over 40% of the USA online casino players are aged from 21 to 34. Consequently, we may claim that online gambling is incredibly popular among young people.
Talking about the most popular gambling activities of Americans, it’s worth knowing that 53% are fond of lottery, 32% of the US gamblers are interested in casino gambling, 26% are totally crazy about casual betting with friends, 12% of the questioned Americans are poker players, 6% are in love with race wagering, and only 3% are regular online casino players.
To sum up, the size of the worldwide web based gambling business sector is estimated to enroll a CAGR of 11.5% from 2019 to 2025, which is extremely impressive! Such a huge market demand is driven primarily because of the high web penetration and ever-expanding popularity of cell phones among gamblers who simply adore online casino games. Based on the analysis related to gambling statistics of the USA, we may well predict the exponential growth of the online gambling business in the USA as well as across the world, which is truly exciting!