The online gambling industry has been registering constant growth for quite some time now. Spanning almost the entire globe, with millions of players involved, the revenue registered by the online gambling market is mind-blowing. This industry includes sports betting, online casinos, live dealer games, poker, lottery, and pretty much any other form of gambling that can be enjoyed online.
Many territories have passed online gambling laws to regulate and set a framework for operators as well as to offer excellent conditions for players. This has led to fierce competition among online casinos and bookmakers, which means even better news for punters and casino enthusiasts.
In the following paragraphs, we’re taking a closer look at the gambling industry and the main engines that drive it in 2022. Starting with the numerous budgetary benefits the gambling industry can bring to many markets and to the accessibility it adds to traditional gambling, there’s plenty to discover.
Mobile-Friendly Gambling
One of the main factors driving the industry nowadays is the ability to enjoy all gambling products from a mobile device. Around 80% of online gambling platform users enjoy their favorite games and bets from a smartphone or tablet.
Adding mobility and not having to be in front of a computer to place a bet on your favorites or play the newest online slots makes online gambling much more accessible. Furthermore, adding funds to the account is even easier when everything is done from a smartphone.
Adopting Cryptocurrency
Online casinos and bookmakers were among the first businesses to adopt cryptocurrency payments. And that gave them a decisive advantage in terms of payment processing time, data protection, and flexibility.
Cryptocurrencies such as Bitcoin or Ethereum represent an appealing option for gambling enthusiasts, and blockchain technology is used in more and more industries nowadays.
Gambling on Smart Devices
Online gambling didn’t stop at smartphones and tablets when it came to the expansion toward mobile devices. Players have the option to enjoy their favorite products from smartwatches and other devices that can connect to the internet. Playing from a wearable device brings a whole new dynamic to the development of the gambling industry.
AR and VR
Few other industries rely on innovation and technological progress like online gambling. So, it’s no surprise that the gambling industry is making use of Virtual and Augmented Reality to make the games even more appealing and immersive.
With the prices of VR helmets and AR devices decreasing, more and more online bookmakers and casinos offer this unique way of enjoying gambling products to players. “
Live Casino Technology
Even before the online gambling operators turned to AR and VR, players could combine playing online with the presence of real dealers for table games. In addition, the live casino games allow casino players to enjoy all the benefits of an online casino and the atmosphere of a land-based venue.
Through live streaming and advanced interfaces, live casino games attract more and more players each year in a booming trend in online gambling.
Esports Betting
The vast universe of online gambling includes many products, and one that’s been enjoying a massive spike in popularity is esports betting. Esports has been the center of attention for quite some time, but they truly boomed during the pandemic when traditional sports were unavailable.
So, fans of popular games like CS:GO, Dota 2, StasrCraft, LoL, and many more place bets on their favorite teams and players, which adds even more momentum to the gambling industry.
New Providers Entering the Market
Another vital factor that pushes the gambling industry forward is the monthly number of new software providers joining the market. Whether we’re talking about bookmaker platforms providers or game developers for online casinos, new names appear frequently and help push the industry forward.
Final Thoughts on the Online Gambling Industry
As you can see, many factors drive the gambling industry forward, and there’s no sign of slowing down. More and more markets regulate their gambling legislation, allowing international bookmakers and casinos to offer their services.
As the word spreads, the number of players interested in online gambling grows, and they’ll always be on the lookout for the best operators in their area. So, the growth of online gambling is set to continue with estimated revenues of over $70 billion in 2023.
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