Online Gambling Market To Grow at CAGR of 7.91% Between 2017 and 2020

Must Read

Elon Musk Added Over $100 Billion To His Net Worth In Just 1 Year, Leaves Jeff Bezos Behind

Jeff Bezos may the world's richest person in the world but it's Elon Musk who has been...

Will Work From Home Tax Become the New Normal?

In what might become groundbreaking introductory research for shaping future taxation policies, Luke Templeman starts by writing...

The Launch Of Amazon Pharmacy: All Set To Dominate $131 Billion Market!

Two years ago, when Amazon acquired PillPack, which is a prescription medicine delivery service, it was well...

The online gambling market is estimated to grow at a CAGR of 7.91% between 2016 and 2020, according to the latest report, titled Global Gambling Market 2016-2020. The growing middle-class population who are more open to indoor sports like gambling and their increasing income capacity are the two main factors behind the growth of global gambling market during the stipulated time frame.

The most interesting highlight of the report is the role of smartphone which has emerged as the key driver of this trend. The smartphone penetration among the young generation is the deepest and due to the growing FOBO (Fear of Being Offline) almost every youth is connected to the internet and carry his/her world with him/her. Consequently, some of the leading traditional casino centres, likes of Red Flush, are actively focusing on promoting their apps on various app stores.

The offline and online push is resulting in increasing demand for the overall gambling games, which is eventually leading to expansion existing casinos and opening of new casino centres across the world.

Advertisements

The other important reason behind the flourishing scenario of gambling market is the ease of government regulations in many countries. The online gambling sector was first regulated by British. It is also being predicted that by 2020 the number of online gambling industry is going to increase as more states are going to legalize this online gambling. And one of the advantages of legalizing the online gambling market is that it will improve employment opportunity and also at the same time it will benefit the government informing the tax. And undoubtedly this advantage is the reason that is motivating the rules around the world in legalizing online gambling.

Mobile Casino: The Flourishing Business Worldwide

In 2005, Jupiter Research forecast that global mobile gambling services would generate revenues of more than $19.3 billion US dollars by 2009. In 2010, Gartner analysts showed the 2009 global mobile gambling revenues at $4.7 billion and forecast $5.6 billion for 2010. Such a large discrepancy between the 2005 forecast and the 2009 reality is attributed to the unexpected 2006 US prohibition of all internet based gambling.

To have an idea on the spectacular growth of mobile gambling, we can take a look for example over the UK mobile market in order to realize just how much mobile devices are now part of our lives.

The mobile gambling market, as of 2017 is still in flux. The European Union still does not have a unified mobile gambling legislative framework in place. Each European country has their own set of widely different laws which regulate mobile gambling ranging from Finland where a government monopoly operates internet casinos to Norway which is in favour of complete prohibition of online gambling.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Advertisements

Latest News

Does CCI Verdict On Reliance Future Group Deal Hints Who Will Have The Last Laugh?

Biyani's Future Group, Ambani's RIL, and Bezos' Amazon have been in a three-way dispute for the past...

4 Ways to Incorporate Technology Into Your Brick-and-Mortar Business

While more internet and online-only companies are popping up than ever before, there are still millions of brick-and-mortar businesses across the country....

A New Facebook Bug Let Hackers Listen To You Before You Pick Up Messenger Call

Despite all the claims and assurances, for one or some other reason, Facebook is far away from winning the trust of users.

Free Netflix In India From December: Netflix In A Pursuit Of New Subscribers

A month ago, we reported how Netflix might be brewing something interesting that could lead to a free Netflix subscription in India. Well,...

Elon Musk Added Over $100 Billion To His Net Worth In Just 1 Year, Leaves Jeff Bezos Behind

Jeff Bezos may the world's richest person in the world but it's Elon Musk who has been attracting the eyeballs of everyone...

Tesla Stocks Skyrocketing: Elon Musk Could Overtake Bill Gates to Become the 2nd Richest Person in the World

It's been a good week for Elon Musk and his electrical vehicle business Tesla. Earlier this week, after Tesla Inc.'s rocky road...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter,...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one...

More Articles Like This