How Big is the online gambling industry today? - page 19.

Finestream

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Quote from: Cantsay on May 03, 2023, 09:32:13 AM

The stats is only just beginning, with the look of things I'm sure the usage of online gambling will continue to rise most especially now that everyone knows the good aspect and how beneficial it could be to use online gambling platform.
Although, most people were really skeptical at first but had no other choice but to start using it because of covid-19 restriction of movement.

It would be really interesting to see what this numbers would look like in five years; if there will be a downward trend or if it will continue in this same upward movement.

Online gambling has been the latest norm nowadays since people find it more convenient and even more profitable knowing there are wide varieties of games that online gambling can offer which means that will also increase the chance of making profits. So I’m quite certain that more people will develop interest in online gambling that will boost its adoption and continue to create an upward trend.

madnessteat

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Quote from: xSkylarx on May 09, 2023, 11:24:11 PM

Quote from: bittraffic on May 09, 2023, 09:12:27 PM

Quote from: ChiBitCTy on May 09, 2023, 06:40:03 PM

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry. Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address. Then you can bet anywhere, but must set up the account at the casino to start. Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion. Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

this is really also a problem as it will attract more newbies to gamble that is why there are a lot of people that educating other people by teaching them the risk towards gambler and other are having free consultation or mental support through online to those who are addicted to gambling. I hope that you government will also like have program for those addicted to gambling and not just focusing to on regulating those casinos

If you look carefully at the rapid development of gambling and the scant development of assistance to gamblers, their rehabilitation, as well as preventive measures aimed at explaining the principles of gambling to schoolchildren and students, you can conclude that the governments of many countries just pretend to care about the population. In reality they care only about taxes coming into the treasury and the laws which they adopt in most cases are aimed not at protection of the unprotected population, but at their own benefit.

TheGreatPython

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Quote from: slapper on May 08, 2023, 05:10:52 AM

We're talking Monopoly bucks here, folks. Winning at the casino feels like a triumph, but it's just numbers on screens. Crypto has its edge: top-notch security, hush-hush privacy, decentralized power. Plus, boasting bets in Bitcoin or Ethereum? Undeniably rad.

Yet fiat's got the charm. Stability, universal acceptance, a tried-and-true history. Betting with dollars, euros, or hometown currency? Timeless cool. The choice is yours: embrace the crypto frontier or stick with fiat tradition. Just remember to have fun and not take it too seriously!

So, you think Fiat has got the charm, how about the transaction confirmation time? And transaction fees? Especially if you are gambling from a foreign country and using your debit or credit card to load your account, there are international currency conversion charges and whatnot, sum all that up and you would be able to play a whole session with that money if you were using cryptocurrencies.

Cryptocurrencies are fast, more secure, and way cheaper in terms of fees and taxes, and most importantly, there is no one sitting at a computer watching you transact your money into the casino and then taking them out from there.

Silberman

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Quote from: mindrust on May 06, 2023, 03:05:49 PM

Quote from: Silberman on May 06, 2023, 02:02:59 PM

Quote from: Gyfts on May 06, 2023, 11:11:52 AM

I disagree entirely. Physical casinos are dying and people aren't going to go back. How many ways can you reinvent casino games that would make it any more attractive to a prospective gambler than already exists -- not much. The physical casinos had monopolies on the industry because the overhead on operating these physical locations are too high. Digital casinos don't have that large of an overhead nor do they need to comply with so many regulations so it's only that much more attractive.

Player side, me personally, I don't particularly care much for the experience of a physical casino. It's not that important to me.

I also think along those lines, extremely luxurious casinos could still thrive as they can attract the richest and offer them incredible service and a great experience, however I think the casinos aimed to the middle class are bound to eventually disappear, Las Vegas could thrive since gambling was basically banned everywhere on the US and anyone that wanted to gamble legally had to go there to get that experience, but now gambling is everywhere and you can even do so from your home with your smartphone, so I do not think those casino can survive with their current business model.

What middle class? There is no middle class left. Not in the US, not in the rest of the world. Actually there are only 2 types of players in gambling. 1) The rich, 2) The poor. There isn't anything between. The big casinos want to attract the rich people and the others are getting the poor. Poor people are also the perfect addicts because they don't have anything to lose other than what they got as a paycheck that month and every new month is a chance to get rich. So they will be playing forever till they die and 99.99% of them die poor.

You are right that the middle class is disappearing at an alarming rate, however they are maintaining the illusion they still exist by getting debt and making expensive travels to places like Las Vegas and putting it on their credit cards, however my point is that even that is about to disappear and when that happens all of those casinos aiming to get those type of clients will simply disappear too as there will not be enough people to sustain them.

lizarder

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Quote from: bittraffic on May 09, 2023, 09:12:27 PM

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

Talking about their business they definitely don't think about the impact on people who lose money because of gambling. Gambling has been around for decades before and although for each regeneration it will continue to be adjusted to the times, the online casino version is the most popular in all regions because of the convenience of gambling with just a few clicks via a smartphone. The availability of the internet is also very helpful for the online gambling business to continue to grow, because people can access it even though they are at home or at work.

Influencers also play a role in promoting gambling sites and they have a target market on their social media platforms. The gambling industry is the same as other business developments and even though there are pros and cons along the way, I think this industry will grow rapidly every time as long as they provide easy access for gamblers.

Weawant

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Quote from: Pierre 2 on May 09, 2023, 07:01:34 AM

I think its undeniably big nowadays because we can observe big sponsorships happening around between online gambling platforms and many sports teams and athletes. 10-15 years ago people would be surprised to see these kind of things happening. Anyways it's pretty normal. When you can gamble from your home or workplace or even a park, why wouldn't you? When you lift these invisible borders it was obvious online gambling getting bigger. I think it didn't even reach its peak. Smart phones will make it more and more popular.

In addition, we now have crypto sportsbook joining the already growing industry and with the force they're coming with, they are already dominating as most of the big money sponsorship in sports are now crypto related gambling sites and it will keep growing.

Crypto casinos are having a competition with in each other as they're looking for which site can have the most impact and get the customer to gamble using their site. Crypto casino aren't regulated so they can be started more easily compared to the others.

Cryptocurrency has also help the industry as it has made deposit and withdrawal almost instant and these are the things that make people want to use crypto gambling sites over the others and they're contributing to how big the industry is becoming.

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Quote from: BobK71 on May 10, 2023, 01:55:00 AM

The most effective factor behind the transition of the global gambling industry is the use of smart phones. Even a decade ago, gambling was not seen anywhere, but now it is widely used everywhere. Another factor that has played an important role for this is the easy availability of internet. The ease of online gambling from anywhere in the world has essentially taken the industry to a different level. According to a 2022 report by Online portal, the value of the online gambling platform reached about $63.55 billion and will continue to grow in 2023. I agree with this though that In the future this industry is going to be bigger than any other big industry.

Smartphone and internet are both widely available already during 2015 or earlier yet online gambling industry is still not boom compared to its current state. Pandemic is the catalyst for the rise of fame of online casino. Streamers started to stream online casino on this period since everyone is bored in the house. This makes everyone interested in online gambling since physical casino is closed during that time.

The convenience and availability of online casino was appreciated during pandemic that result to the increase of demand due to the trend. Right now, online casino is still booming since many user that started hook in online casino was referring their friends and relatives plus the increase number of streamers that using online gambling as content.

BobK71

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Quote from: alastantiger on May 09, 2023, 09:24:28 AM

Quote from: Reid on May 03, 2023, 06:44:23 AM

Marketing - We can now see celebrities endorsing the gambling sites. Even our heroes in the sport can now be paid to put the name of the gambling site in their shirts or jerseys or if they want more money, they can use their tongue and say the name of the site. Sponsorship. Every time we watch a sports event, any sport, you name it, we see their names being flashed on the screen.

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

I knew it. The gambling industry will soon almost be as big as the crypto sector... this may be an exaggeration but there's some truth to it. Marketing to me has played one of the since biggest role in its expansion. Everywhere you go, any where you turn to there is a sports betting ad, there's a famous person endorsing sports betting, there is a pop-up on your phone inviting you to sign up on a betting platform and them making a mouth-watering offer for first timers. How can you resist when your friends are up and about it doing their own informal and unconscious marketing.

The most effective factor behind the transition of the global gambling industry is the use of smart phones. Even a decade ago, gambling was not seen anywhere, but now it is widely used everywhere. Another factor that has played an important role for this is the easy availability of internet. The ease of online gambling from anywhere in the world has essentially taken the industry to a different level. According to a 2022 report by Online portal, the value of the online gambling platform reached about $63.55 billion and will continue to grow in 2023. I agree with this though that In the future this industry is going to be bigger than any other big industry.

xSkylarx

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Quote from: bittraffic on May 09, 2023, 09:12:27 PM

Quote from: ChiBitCTy on May 09, 2023, 06:40:03 PM

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry. Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address. Then you can bet anywhere, but must set up the account at the casino to start. Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion. Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

this is really also a problem as it will attract more newbies to gamble that is why there are a lot of people that educating other people by teaching them the risk towards gambler and other are having free consultation or mental support through online to those who are addicted to gambling. I hope that you government will also like have program for those addicted to gambling and not just focusing to on regulating those casinos

Oasisman

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Quote from: dimonstration on May 09, 2023, 10:23:16 AM

Quote from: jrrsparkles on May 09, 2023, 09:59:23 AM

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

Gambling industry will not gonna get close to any of those top billionaires' line of businesses, in relation with what you have said, it's not being used by a certain individuals in a daily basis like the consumer does with all the basic necessities in a daily basis, gambling industry only has a small percentage of market globally. Statistically, we have like almost 70% of the people globally who doesn't gamble at all, divide that remaining 30% into a hundreds or thousands of online casinos/land base casinos globally.
The good thing about gambling industry is that the profit are actually limitless compared to the limited products with a fixed price.

bittraffic

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Quote from: ChiBitCTy on May 09, 2023, 06:40:03 PM

It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry. Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address. Then you can bet anywhere, but must set up the account at the casino to start. Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion. Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

With everything going digital, yes it's gonna get bigger. When our government launched the digital wallet for our local currency, local casinos are also launching their version of online casinos. After months of it, we already heard people lost their fortune over online gambling.

Thats one manifestation that online gambling is really getting bigger and there is no sign of it going slow while influencers promote casinos as well.

ChiBitCTy

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It's only going to get bigger and bigger too..I mean we are just touching the very TIP of the online gambling industry. Here in the United States laws around gambling have become much more relaxed, especially in states like my own, Illinois, where gambling has been legalized across the board..however even here for many online casinos you have to initially set up your account using the casinos IP address. Then you can bet anywhere, but must set up the account at the casino to start. Before long this will no longer be a requirement for casinos across the country, which will only had to this explosion. Then the rest of the world will follow the western world before long as follow suit...again, just the tip is where we are right now.

darewaller

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Quote from: michellee on May 07, 2023, 06:21:17 AM

Quote from: Outhue on May 07, 2023, 05:54:05 AM

The pandemic outbreak of 2020 played a major role in the big success of online gambling platforms, that was when bigger numbers of people decided to try their luck indoor on those online gambling platforms, today online casinos are one of the fastest rich businesses that anyone can get into right now and casinos are as big as less risky companies like Microsoft and others, do not underestimate how much casinos are generating every day, it's a whole lot of money, more than you could ever imagine.

Big men out there would rather run a casino business than an hotel because it's a business that's less risky for the owners, it's a 95% win for the owners always.

Online casinos have benefited greatly from the pandemic for the past 3 years and have increased the number of users playing at each of these online casinos. So that's what makes online casinos bigger than ever.

Same goes to cryptos. We also saw a huge boost in their prices during the pandemic era. At first, people speculated the opposite thing but it was surprising on how the unexpected thing have occurred.

I guess that is because people never losses their hope and they don't just sit there in the corner but they still find ways to hustle, mostly online. They sell stuffs in social media sites, join this forum to earn a crypto, and many more. Other than that, the government is also providing cash assistance. There's even a news reported that people are spotted to gamble using their cash relief and some are using it for crypto investing instead of buying their basic needs in life. Kinda insane if you ask me.

SirLancelot

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Quote from: kotajikikox on May 07, 2023, 10:27:58 PM

I think that there are so much increase from month after month because lets admit
that crypto gambling is outgrowing the Fiat online gambling and adding value to the gambling industry.

this forum alone(Bitcointalk.org) composes of so many gamblers from around the world.

Of course, it's outgrowing the traditional online casino industry because it lacked a lot of things that cryptocurrency casinos offer, starting with very quick deposits. With traditional casinos, one would need to wait for days until their deposit arrived in the platform, but with crypto, all you need to do is go to your wallet and send the coins to your casino account, and boom, received them in a couple of minutes.

Traditional casinos also didn't have probably-fair gaming where a user can verify their bets whether are legit and aren't rigged or manipulated by the system or the managers of the platform. There are a lot more features that make cryptocurrency gambling a better choice.

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Quote from: dimonstration on May 09, 2023, 10:23:16 AM

Quote from: jrrsparkles on May 09, 2023, 09:59:23 AM

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

Networth is also not the accurate stat to calculate who is more rich person, however I am not meant that a casino owner is one among the top richest individual in the world but collectively gambling and gaming is highly profitable industry but I can't find the article which I came across about such stats in the recent past.

Wagering amount can be a point to consider because we all know in gambling house has better edge so most of the time the casino will be in the winning side and in particular games they give huge rewards like in millions so imagine if they can afford such huge amount then their profit will be higher than that.

dimonstration

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Quote from: jrrsparkles on May 09, 2023, 09:59:23 AM

If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

Not even on top 10 if we consider global rank. Iteasy to determine the most profitable sector in the world by just looking on top billionaires invest/company. So far, there is no known billionaire that enter on the top 10 or even 20 spot that involves on casino industry.

Casino industry is indeed growing on rapid phased but it's still not enough to enter the top spot because it's not being use on daily basis by the average consumer.

Imo, Wager volume is not a accurate basis on how big the profit of the casino because some of these bets are win which makes breakeven the losses. Casino typically offers cashback and rakeback for their loyalty rewards that only means that some part of the profit is returned to the players.

Casino profit is really massive but it's not enough to compared on top sector such as technology, finance, food, etc.

jrrsparkles

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If I am not wrong gambling is the second largest profit making sector in the whole world (please correct me if I am wrong) so it's no miracle that with the evolution of internet and smartphone technology. Just look at the one gambling site Roobet which crossed over 1800,000,000 bets so imagine how much the wagering amount on a single site. There are atleast 20+ big crypto casino at this much level to my knowledge so the business is over 200 mil in profit by this year.

$crypto$

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Quote from: livingfree on May 07, 2023, 07:57:59 AM

Quote from: Outhue on May 07, 2023, 05:54:05 AM

The pandemic outbreak of 2020 played a major role in the big success of online gambling platforms, that was when bigger numbers of people decided to try their luck indoor on those online gambling platforms, today online casinos are one of the fastest rich businesses that anyone can get into right now and casinos are as big as less risky companies like Microsoft and others, do not underestimate how much casinos are generating every day, it's a whole lot of money, more than you could ever imagine.

Big men out there would rather run a casino business than an hotel because it's a business that's less risky for the owners, it's a 95% win for the owners always.

That's certain that the pandemic did contributed to the growth of online gambling, be it crypto or fiat.

Being stuck at home due to the lockdown that has been implemented worldwide, made people think of doing something and even non-gamblers. It's certain that many of them also tried to gamble.

But we'll never know the statistics on how many have won a lot and how many have lost. It's more likely that many have lost instead of winning but still, that had made a lot of people made the gambling industry more known and bigger.

Even after the end of Covid-19 and now it's almost free where the gambling industry has never decreased I know it's increasing steadily as many play making gambling platforms now able to do ad promotions on other big sports so they have a lot of input money because of traffic a lot of gambling players.

We never know about these statistics, but now they have a lot of interest from the gambling industry, more and more casinos have sprung up because this is a promising business, we as players don't expect too much to win, just do it for the sake of having fun.

alastantiger

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Quote from: Reid on May 03, 2023, 06:44:23 AM

Marketing - We can now see celebrities endorsing the gambling sites. Even our heroes in the sport can now be paid to put the name of the gambling site in their shirts or jerseys or if they want more money, they can use their tongue and say the name of the site. Sponsorship. Every time we watch a sports event, any sport, you name it, we see their names being flashed on the screen.

According to the articles shared, sports betting will have the highest market gain in the next few years.
What do you think?

I knew it. The gambling industry will soon almost be as big as the crypto sector... this may be an exaggeration but there's some truth to it. Marketing to me has played one of the since biggest role in its expansion. Everywhere you go, any where you turn to there is a sports betting ad, there's a famous person endorsing sports betting, there is a pop-up on your phone inviting you to sign up on a betting platform and them making a mouth-watering offer for first timers. How can you resist when your friends are up and about it doing their own informal and unconscious marketing.

xSkylarx

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Quote from: Pierre 2 on May 09, 2023, 07:01:34 AM

I think its undeniably big nowadays because we can observe big sponsorships happening around between online gambling platforms and many sports teams and athletes. 10-15 years ago people would be surprised to see these kind of things happening. Anyways it's pretty normal. When you can gamble from your home or workplace or even a park, why wouldn't you? When you lift these invisible borders it was obvious online gambling getting bigger. I think it didn't even reach its peak. Smart phones will make it more and more popular.

Before, I just noticed that those big companies were only sponsoring those events, and it was rare to see those gambling platforms advertising themselves, but now almost all sports or athletes have sponsors, even celebrities. That is why the gambling industry is really booming these days, and most people advertise it through those influential people. For sure, this will be more in the future as people can easily gamble through their phones or laptops.

Topic: How Big is the online gambling industry today? - page 19. (Read 3306 times)