How Big is the online gambling industry today? - page 20.

xSkylarx

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Quote from: Pierre 2 on May 09, 2023, 08:01:34 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.

Pierre 2

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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.

savetheFORUM

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Quote from: QueenVera on May 05, 2023, 05:03:29 PM

I think the online gambling industry is already a multi million dollar industry because most times i could only imagine how much money is been lost to the casino on a daily basis and I have no option but to conclude that the company is already averaging over multi million dollars.
I basically didn't need a prophet or maybe a Google to confirm how big the online gambling industry except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching up is through strategic marketing and promotions as well as endorsement.

Multi-million dollar? The market value of the online gambling industry was over $63b in 2022, and it's expected to grow with over an 11% compound annual growth rate (CAGR) from this year onwards. So it's way more popular and valuable than you think and it's growing so rapidly that it will soon become a trillion-dollar industry.

The convenience of online gambling has given gamblers a new way to continue their gambling activities after the pandemic caused by Covid-19 and that convenience has been accepted very broadly by the world which is evident by the growth rate of the industry.

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Quote from: xSkylarx on May 08, 2023, 02:20:14 AM

This is really huge. What I've worried about is those under 18 who are into gambling and would be prone to addictions, which means they would commit crimes or steal some money. As I've also noticed how rampantly the influencers in social media are posting this, and what I've worried about is that those influencers are showing that it is easy to win on those platforms, like just betting this and for sure you'll win. Someone also approached me, my cousin, who is under age, asking about money that he will pay back once he wins on that specific platform, and I am really worried about him.

No need to worry, even your cousin accept the offer and give his money to that scammer, your cousin will learn about fake investment and it should be a good lesson for him to not trust any stranger. Well there's no way to verify if the gambler is underage as long as he's not submit his KYC and there's a chance if he use another person KYC who's older than him e.g. brother, uncle, father etc.

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Quote from: Jody.Drummer on May 08, 2023, 12:23:36 AM

Quote from: Vaskiy on May 06, 2023, 05:31:14 PM

Quote from: goaldigger on May 06, 2023, 04:55:15 PM

Quote from: QueenVera on May 05, 2023, 05:03:29 PM

I think the online gambling industry is already a multi million dollar industry because most times i could only imagine how much money is been lost to the casino on a daily basis and I have no option but to conclude that the company is already averaging over multi million dollars.
I basically didn't need a prophet or maybe a Google to confirm how big the online gambling industry except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

Sometimes it looks like there is no fiat based gambling sites used around, because these days it is very rare to see the promotion of fiat based gambling sites. Quite often we can come across cryptocurrency accepted gambling sites promotion. People are getting much used to it. Many countries legalizing gambling is a cause for the recent year's growth reaching the peak. I feel like, someday in the future there arises a situation where it is possible to gamble only using cryptocurrency. Covid helped a lot to the gambling industry when rest of the industry were struggling to survive.

This may depend on where you live and how crypto is accepted there.
When indeed their target is crypto enthusiasts then indeed the best thing is to make gambling with that as a balance because indeed this will obviously be liked, but if the target is not for that then fiat is indeed still one of the references.

In the place where I live now, almost all gambling sites use fiat, although there are some that use crypto, but this is only a few of the many fiat, but indeed this is also quite reasonable because my area is happier with it than crypto.
but of course something like this doesn't apply, therefore I prefer to use a casino that does have a big reputation here because crypto is indeed one of the things that I can make a bet on.

Dollars or bitcoin? This is money in the Monopoly game. It's exciting to win big at the casino, but in the end it's just a game of numbers. The advantages of crypto are that it is very secure, private, and decentralized. What's more, brag about your Bitcoin or Ethereum wagers? Incontestably cool.

Still, fiat has a certain allure. security, wide acceptability, and a proven track record. Gambling with foreign currency, domestic currency, or both? Classically hip. You can opt to either explore the cutting edge of cryptography or continue with tried-and-true fiat currency. Have a good time and don't sweat the small stuff!

xSkylarx

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Quote from: kotajikikox on May 07, 2023, 11:27:58 PM

I don't know what year or date that details you've got mate but according to google it is much higher up to February this year

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports. PUNE, India, Feb.Feb 2, 2023

Here's the Link : https://www.google.com/search?q=how+big+is+the+online+gambling+market&rlz=1C1KNTJ_enPH946PH946&oq=how+big+is+the+online+gambling&aqs=chrome.2.0i512j69i57j0i512j0i15i22i30j0i22i30l3j69i61.7947j0j9&sourceid=chrome&ie=UTF-8

and from that Â , 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.

This is really huge. What I've worried about is those under 18 who are into gambling and would be prone to addictions, which means they would commit crimes or steal some money. As I've also noticed how rampantly the influencers in social media are posting this, and what I've worried about is that those influencers are showing that it is easy to win on those platforms, like just betting this and for sure you'll win. Someone also approached me, my cousin, who is under age, asking about money that he will pay back once he wins on that specific platform, and I am really worried about him.

Jody.Drummer

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Quote from: Vaskiy on May 06, 2023, 05:31:14 PM

Quote from: goaldigger on May 06, 2023, 04:55:15 PM

Quote from: QueenVera on May 05, 2023, 05:03:29 PM

I think the online gambling industry is already a multi million dollar industry because most times i could only imagine how much money is been lost to the casino on a daily basis and I have no option but to conclude that the company is already averaging over multi million dollars.
I basically didn't need a prophet or maybe a Google to confirm how big the online gambling industry except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

Sometimes it looks like there is no fiat based gambling sites used around, because these days it is very rare to see the promotion of fiat based gambling sites. Quite often we can come across cryptocurrency accepted gambling sites promotion. People are getting much used to it. Many countries legalizing gambling is a cause for the recent year's growth reaching the peak. I feel like, someday in the future there arises a situation where it is possible to gamble only using cryptocurrency. Covid helped a lot to the gambling industry when rest of the industry were struggling to survive.

This may depend on where you live and how crypto is accepted there.
When indeed their target is crypto enthusiasts then indeed the best thing is to make gambling with that as a balance because indeed this will obviously be liked, but if the target is not for that then fiat is indeed still one of the references.

In the place where I live now, almost all gambling sites use fiat, although there are some that use crypto, but this is only a few of the many fiat, but indeed this is also quite reasonable because my area is happier with it than crypto.
but of course something like this doesn't apply, therefore I prefer to use a casino that does have a big reputation here because crypto is indeed one of the things that I can make a bet on.

Tumanggor

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the data that OP gave is really very good, and certainly quite accurate considering how easy it is to access online gambling sites nowadays even in countries where gambling is prohibited and many gambling sites are banned

therefore, along with the growth of the gambling business, all gambling business owners are obliged to carry out CSR to help the government in each country treat gambling addicts

kotajikikox

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I don't know what year or date that details you've got mate but according to google it is much higher up to February this year

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports. PUNE, India, Feb.Feb 2, 2023

Here's the Link : https://www.google.com/search?q=how+big+is+the+online+gambling+market&rlz=1C1KNTJ_enPH946PH946&oq=how+big+is+the+online+gambling&aqs=chrome.2.0i512j69i57j0i512j0i15i22i30j0i22i30l3j69i61.7947j0j9&sourceid=chrome&ie=UTF-8

and from that , 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.

erep

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Quote from: Jody.Drummer on May 07, 2023, 12:57:13 PM

Yes, that's right, not only people who have a lot of money are in gambling, many people who are financially in trouble are also in the scope of gambling. The minimum limit that they can deposit to be able to play gambling is one of the factors why those who have financial difficulties are also here. Rich people with large amounts of money at a time, while middle-class people with the minimum money they bet.

All the economic majority can also gamble because casinos do not set high deposit limits, so gambling does not evaluate based on a person's wealth status but judges by how many chances he can win the most bets and he is able to handle the risk of loss, even if you pay attention to the gambling thread there is discussion of gamblers with low bets can get a million dollar jackpot, on the other hand there are millions of dollars in losses because he incorrectly determines the opportunity to win the opportunity to get thousands of dollars.

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Quote from: Reid on May 03, 2023, 07:44:23 AM

It became more popular recently and I believe online gambling will be higher in size and reach from generation to generation as we became more inclined to technology and convenience.

I'm guessing that, right now online gambling is larger than land-based ones. I would agree that pandemic was one of the catalysts why we are having such demand for online casino nowadays. And even after that crisis, the demand and surge of new players is high. This would most likely continue even more as what I've said earlier.

Recently, on my country online gambling became popular due to the influence of social media content creators and influencers. From their video contents, there's always part for the promotion. Personally, I found that annoying. And what pisses me off is that these influencers doesn't even warns their viewers and seems that they don't even check for the casino's legitimacy.

Jody.Drummer

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Quote from: tusandii on May 06, 2023, 03:58:10 PM

Quote from: Jody.Drummer on May 06, 2023, 11:20:34 AM

Quote from: QueenVera on May 05, 2023, 05:03:29 PM

I think the online gambling industry is already a multi million dollar industry because most times i could only imagine how much money is been lost to the casino on a daily basis and I have no option but to conclude that the company is already averaging over multi million dollars.
I basically didn't need a prophet or maybe a Google to confirm how big the online gambling industry except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching up is through strategic marketing and promotions as well as endorsement.

There is no doubt that the gambling industry is one that has millions of dollars to spend. I think we already know that, maybe no one knows for sure how much is spent each day, but with certainty and confidence I will say it is not a small amount. We can see from here, from the forums how many people play, how much money they spend each day for gambling, I'm sure it's a very fantastic nominal. The gambling industry is very promising now, the velocity of money there is very fast and also big.

With the huge profits in the gambling industry, more and more people are interested in trying it.
In the gambling industry there are gamblers from the rich and also the lower middle class and on average almost all of them are very generous to spend some money to be able to bet.
Millions of dollars and more exist on just one gambling site while in all there are countless gambling sites operating.
I am no longer surprised that the gambling industry is getting bigger and the sites are also spread all over the world.

Yes, that's right, not only people who have a lot of money are in gambling, many people who are financially in trouble are also in the scope of gambling. The minimum limit that they can deposit to be able to play gambling is one of the factors why those who have financial difficulties are also here. Rich people with large amounts of money at a time, while middle-class people with the minimum money they bet.
You are right that in one gambling site, and if we look at now how many total gambling sites there are, then if you count the numbers it will be fantastic and even that can be beyond predictions.

virasisog

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Quote from: molsewid on May 07, 2023, 10:14:31 AM

Quote from: mindrust on May 06, 2023, 04:05:49 PM

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.

I agree with you, no offense but we as poor people or those who rely to their paychecks can be easily be addicted because most of us maybe even me think before that gambling will help me to have additional income and help me in my finances but the good thing is I wake up too early before i lose more than the thing that I could ever imagine in my life.

We can't dispute that most poor people nowadays rely on gambling for a better life. It makes sense why the majority of them risk the most of their assets in gambling and would ultimately chase them; this might also be the cause of their rapid descent into gambling addiction. Rich people, on the other hand, gamble mostly for entertainment and enjoyment, and they seize opportunities to expand their holdings and spheres of influence. Due to the fact that there are only two possible outcomes in gambling—losing or winning—, we should take responsibility regardless of our financial situation.

molsewid

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Quote from: mindrust on May 06, 2023, 04:05:49 PM

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.

I agree with you, no offense but we as poor people or those who rely to their paychecks can be easily be addicted because most of us maybe even me think before that gambling will help me to have additional income and help me in my finances but the good thing is I wake up too early before i lose more than the thing that I could ever imagine in my life.

livingfree

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Quote from: Outhue on May 07, 2023, 06:54:05 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.

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Quote from: Outhue on May 07, 2023, 06:54:05 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.

And because many offline gamblers have immediately stopped playing gambling at offline casinos, they are confused about how they can continue to gamble while taking care of themselves while the pandemic is not over. And because the internet is available in many countries and can be accessed easily, they can find online casinos and even find crypto, which can be a means for them to keep playing gambling.

And besides that, maybe because of the ever-increasing development of the gambling business, many business people want to create a new casino to spread their business to many fields. And now, we have seen how the online gambling business has developed rapidly and may be even more advanced in the next few years.

Outhue

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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.

Gyfts

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Quote from: Silberman on May 06, 2023, 03:02:59 PM

Quote from: Gyfts on May 06, 2023, 12:11:52 PM

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.

Not just the U.S., but a lot of the online gambling regulations were reduced and you can get a online gaming license with ease granted you have the funds. Modern casinos are providing a resort like experience so the demographic they're targeting is different than the typical gambler. I make this distinction because these online casinos are thriving because of crypto-based deposits. If digital casinos can increase market share, that only increases the crypto usage.

Quote from: Fivestar4everMVP on May 06, 2023, 03:30:38 PM

Quote from: Gyfts on May 06, 2023, 12:11:52 PM

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.

Well, physical casinos are dying, maybe yes, but I think that even in the next 50 years to come, there will still be physical casinos around that are doing very well, the physical casino might not be in every location, but it will definitely be in several part of the world, most especially, remote areas where user don't really have access to smart phones due to really poor network coverage, there are alot of places like this in some African countries now.

I'm not suggesting that there won't ever be physical casinos, only that the market share that the physical casinos have will be eaten up by digital platforms. The areas that are remote won't have casinos to begin with. And if the do, their market share is minimal.

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Quote from: goaldigger on May 06, 2023, 04:55:15 PM

Quote from: QueenVera on May 05, 2023, 05:03:29 PM

I think the online gambling industry is already a multi million dollar industry because most times i could only imagine how much money is been lost to the casino on a daily basis and I have no option but to conclude that the company is already averaging over multi million dollars.
I basically didn't need a prophet or maybe a Google to confirm how big the online gambling industry except I'm not credible gambler that I wouldn't get to find out nd one of the major ways this industry bis matching up is through strategic marketing and promotions as well as endorsement.

Considering the volume of online casinos, I believe it should already be a Billion industry.
There’s a lot of big crypto casinos that are still doing good and that alone represents a hundred Million already. Promotions of crypro gambling are more effective compare to the traditional casinos since I can’t find any local casinos that have promotions online even if they are legal. Crypto gambling becomes more popular day by day, expect for this industry to grow more.

With the way cryptocurrency casinos are growing, it is very certain that the industry is worth a billion dollars or even more. Since the beginning COVID-19 virus that made a lot of people to stay in there houses and look for online jobs or something that is going to earn them money, the growth of crypto casinos had skyrocket since people now find a path Way in gambling online to survive and paying there bills with the fund/profits they get from the casino they are using. We should expect more gambling activities in time soon because the gambling industries is growing rapidly as more people go into cryptocurrency and gambling.

sunsilk

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It's an industry that will just keep on growing, the entirety of the online gambling industry, fiat and crypto, will just go as if it's an unstoppable train.

We've seen how it went coming from a no-pandemic era, to the time that the height of pandemic was seen. And with other economic crisis, still this industry has never been stopped.

Although it's not going to be as lovely as it is everyday but sure, it will keep on growing until we see a decline.

Topic: How Big is the online gambling industry today? - page 20. (Read 2976 times)