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Despite all the economic turmoil that the world’s business markets seem to be going through, the online gambling market seems to be thriving.
For example, the online gambling market is going to rise by approximately US$61 billion by 2025. In a report compiled for April 2020, analysts have recorded that the yearly compound growth rate is at 11.5%.
Specifically, the online gambling industry is currently at US$53 billion. Therefore, with the above statistics, the industry is going to be at US$114.21 billion.
Statistics According to the Different Online Gambling Market Segments
There are a lot of approaches that are being taken by the analysts to study the different gambling segments. In turn, these give room for much better and clearer results.
Sports Betting VS Online Pokies
Since sports betting was doing well in the 2019 online gambling market. iI is expected to perform even much better than online pokies as time goes on.
However, we do not know whether the COVID 19 lockdown may actually have an effect on it. Mainly, in consideration is the fact that most sports games have been put on hold. Hence, there is nothing interesting to bet on.
Mobile Gaming VS Desktop Gaming
Now that technology keeps evolving for your convenience, everything can now be easily found on your phone. Meaning, mobile gaming is definitely going to hit the highest score.
Although 2019 reports highlight a lot of users playing from their desktops, the experts haven’t given up on mobile gaming. 2020 is expected to give a turn around to mobile gaming.
Real Money VS Virtual Money
Everyone is definitely playing for real money at online casinos right now. Hence, the online gambling market is expecting it to keep growing.
The forecast has agreed that real money is currently ruling over virtual money. Therefore, if all goes well, it will keep on getting better.
The Geographical Outline
The online casino market looks at these main areas when doing their research:
- Americas
- Asia Pacific
- Europe
- Middle East
- Africa
With these in mind, Asia-pacific is the one to mostly dominate the market. Countries under this section include; Australia, China, Thailand, India, Indonesia, India, Malaysia, Japan, and other countries.
Conclusion
In a nutshell, sports betting, mobile gaming, and the Asia-Pacific will definitely be dominating the online gambling market. However, we are not sure if the current COVID 19 effects will take a toll on these available statistics.
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