Topic: How Big is the online gambling industry today? - page 21. (Read 3231 times)

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The global online gambling market size was valued at USD 63.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 11.7% from 2023 to 2030. The growing internet penetration and rise in the use of mobile phones among users for playing online games is increasing the demand for online gambling. For instance, in 2022, internet penetration in the U.S. was 92% of the country's total population. Furthermore, cultural and legalization approval, easy access to online gambling, celebrity endorsements, and corporate sponsorships are also helping market growth.

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Based on type, the global online gambling market is segmented into poker, sports betting, casinos, and others. The sports betting segment is expected to gain a substantial market share in the forecast period due to the growth of the sports betting industry driven by the effective use of computers and cell phones to place wagers on sporting events.

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When you summarize it, it all goes down to the "easy access" of the gambling sites in the world.
Cell phones/smart phones - If there is no application available for the gambling site, you can always use the browser of phone instead, if it won't work in mobile view then, you can use other browsers that have the feature of "desktop view". It's actually easy nowadays to create a solution for small problems like this.
Desktop/Laptops - According to ACS (American Community Survey) 89 percent of household today have a desktop or a laptop in their place. Internet connection is not a problem anymore because they are offering cheap prices for 10-25 mbps speed. Gambling sites doesn't need a super speed internet just to access it, most of them are text-based websites so loading a page won't be that long.

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?

It's only gonna grow year over year at least in the US. As online sports gambling becomes legal in more and more states it will continue to grow. Its too easy just to open your phone or computer and drop in a bet. It's almost too easy. I do agree in the short term it will be bigger than it is now but it won't stop it will just keep growing.

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

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

Quote from: darewaller on May 06, 2023, 03:18:41 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.

This is well said and also I think it is difficult to actually really come up with precise numbers on how big the gambling industry is. The registered companies are publishing numbers and you could add those up and derive a rough estimate, but there are also so many of the shady casinos that if you add those all up, I think that number could also play a significant role. As you said, the poor just play their whole life until they die, but quantity is probably of relevance here. If you have an army of poor people losing their monthly paycheck on your platform, that can still be a lot of money.

Some of the statistics won't even be available, especially when cryptocurrencies are involved on platforms that don't ask for KYC. No idea whether those platforms not demanding KYC would really be publishing any reliable numbers anyway.

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Quote from: xSkylarx on May 03, 2023, 09:49:46 PM

Since pandemic it is really big. What i just noticed is that there are more online casino now unlike before and mostly people preferred it. Also most of the ads or videos ive seen in social media are about gambling which it is really rampant as we know there are agents to recruit gamblers ro sign up on their website.

That is due to the effect of pandemic. The demand for existing online casinos are then got higher so other businessmen's who are not yet on this field see this as a perfect opportunity to start their own online casino too. Now that the effect of the pandemic starts to wear off, I wonder if the demand for online casinos are still the same?

I know many will says it decline because people are now working again and some are back playing in brick-and-mortar casino but we must not forget that there are new people who just discovered online gambling because I see that gambling ads is still everywhere the place. Those who people who resume in their jobs might still gamble and they might play harder than usual because they already have a reliable source of income.

I think it was definitely a breaking point, there were a lot of rich people who went into online gambling. Even the top names in the gambling world who owned big casino hotels, opened up their online casinos as well to get more people because it wasn't even allowed to go visit your parents let alone go to Vegas and gamble for example.

This is why online is the way to go, bring the casino into peoples computers and phones, and you can do a lot better marketing. Casino hotels invited famous celebs and all that to attract gamblers, before and after you watch those singers or whatevers show, you gambled there and that's how they made money, instead of paying that, they did online marketing with same budget and grew so much suddenly. Because that money is a lot when it comes to online marketing.

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

Quote from: Jody.Drummer on May 06, 2023, 10:20:34 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.

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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.

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Quote from: adzino on May 04, 2023, 01:22:50 AM

It's too big. There are a lot of online gambling casinos that new casinos are going to struggle unless they provide something exceptional or something very new to the player base. If not, why would someone want to play in a new casino that has no reputation? Currently the whole industry is currently being dominated by few big casinos I guess.

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.

Those gambling industries can afford paying those celebrities and sports players hundreds of thousands of dollar, and the players are willing to accept it. Sponsorship isn't something new. The casinos do need to advertise themselves or they will end up losing the race. Yeah, it might have some negative affect on kids and will make them curious, but as far as I know some countries are banning such kind of advertisements.

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.

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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 agree with you on this one, I've only played once on a physical casino since my gambling journey began, and this was several years ago, till today, I have no interest of ever visiting a physical casino, not with my smart phone in my hands.

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Quote from: adzino on May 04, 2023, 01:22:50 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.

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It's too big. There are a lot of online gambling casinos that new casinos are going to struggle unless they provide something exceptional or something very new to the player base. If not, why would someone want to play in a new casino that has no reputation? Currently the whole industry is currently being dominated by few big casinos I guess.

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.

Those gambling industries can afford paying those celebrities and sports players hundreds of thousands of dollar, and the players are willing to accept it. Sponsorship isn't something new. The casinos do need to advertise themselves or they will end up losing the race. Yeah, it might have some negative affect on kids and will make them curious, but as far as I know some countries are banning such kind of advertisements.

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.

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Quote from: Strongkored on May 05, 2023, 05:15:16 AM

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.

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Its the combination of many things like OP posted, it will not reach this level and height if it were not for Bitcoin and other Cryptocurrencies, online casinos become appealing to online gamblers because of easy transactions, support of anonymity, and celebrities openly supporting online casino as the best way to gamble and be entertained through gambling.

It will stay big and the numbers will keep improving because the online gambling industry is still covering territories and the support is not going down.

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Quote from: darewaller on May 06, 2023, 03:18:41 AM

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

The pandemic has changed many people's activities, from those who usually spend outside now they will spend more time at home, so it will cause a lot of boredom if we don't have other activities, and watching sports matches is one of the fun activities and in every game there are lots of advertisements about gambling so it can attract a lot of people who may not be routine at first to become routine because the tension will increase if they are not just spectators but also bettors, and this is one of the factors why online gambling has grown so rapidly because after the pandemic is over and you can do normal activities outside of comfort Online gambling cannot be replaced so it remains an option for gambling, and it is an opportunity for business people in the gambling industry to get lots of players and profits.

Online gambling was already booming before the pandemic as it was tremendously growing. But not everyone were aware about it.
The pandemic had triggered that boom and since people didn't have anything to do they started gambling and the word spread out.
We all know the aftermath. Online gambling reached new heights and is now a really big industry.

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That is due to the effect of pandemic. The demand for existing online casinos are then got higher so other businessmen's who are not yet on this field see this as a perfect opportunity to start their own online casino too. Now that the effect of the pandemic starts to wear off, I wonder if the demand for online casinos are still the same?

I know many will says it decline because people are now working again and some are back playing in brick-and-mortar casino but we must not forget that there are new people who just discovered online gambling because I see that gambling ads is still everywhere the place. Those who people who resume in their jobs might still gamble and they might play harder than usual because they already have a reliable source of income.

Yep, that's what I observe pandemic opens many opportunities online and especially in crypto. Many people switch to crypto from traditional once, they find crypto more convenient and easy to use. There's a slight difference in the feelings and maybe because in crypto there's less interaction with your friends but all in people love how gambling works in crypto and it is widely adopted

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Quote from: len01 on May 05, 2023, 01:41:28 AM

Quote from: Fundamentals Of on May 05, 2023, 01:10:32 AM

Gambling has been around for millennia and stays popular. And it's growing even bigger notwithstanding its social image. I wonder why it is so. Perhaps it is perfectly built for human psychology. It seems the thrill that gambling provides is something the human minds like very much, even to the point of addiction and losing everything.

With the fast growth of technology, it is more accessible than ever, and that includes its promotion. No wonder why the increasing number of gamblers and the value attached to it. But so with the downside.

indeed gambling has been around for several thousand years ago but it increased when the covid 19 pandemic in a few years ago the gambling industry increased because gambling immediately closed and the only option was to gamble online and over time the online gambling industry increased after the very hype of slot games current trend across any country.
as of now, slot games can be accessed via cellphones and PCs in all countries and even in countries where gambling is prohibited, there is currently a lot of use of online gambling which has increased the gambling industry.

coupled with the current technological growth that supports the gambling industry can increase very quickly and everyone can access gambling from anywhere and even though there are negative sides that impact gamblers but this gambling industry is actually very profitable for countries that allow gambling and countries will take advantage of the gambling industry This is to help economic growth in the country.
and for the growth of gambling especially sports betting this will increase in the next few years. because it will be very easy for everyone to bet through online gambling.

Wagering, betting, and taking risks in the name of entertainment are as old as the hills and here to stay. It's never been easier to place a wager and win big (or lose big if lady luck isn't on your side) than it is with the rise of online gambling. Let's not gloss over the seedier side of gaming for a second. It has that addictive quality, it can ruin people's life, and it can lead to breaking the law. As for the con artists and fraudsters working in the industry, I won't even go there.

However, when done right, gambling can be a boon to an economy, generating new business and even new jobs. Is this an essential vice, or a luxury we can do without? You can have it if you want. With improved technology, though, the gambling industry can only continue uphill from here. Get buckled in, put some money on the table, and let the good times roll (or crash, as the case may be)!

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Quote from: xSkylarx on May 03, 2023, 09:49:46 PM

Since pandemic it is really big. What i just noticed is that there are more online casino now unlike before and mostly people preferred it. Also most of the ads or videos ive seen in social media are about gambling which it is really rampant as we know there are agents to recruit gamblers ro sign up on their website.

That is due to the effect of pandemic. The demand for existing online casinos are then got higher so other businessmen's who are not yet on this field see this as a perfect opportunity to start their own online casino too. Now that the effect of the pandemic starts to wear off, I wonder if the demand for online casinos are still the same?

I know many will says it decline because people are now working again and some are back playing in brick-and-mortar casino but we must not forget that there are new people who just discovered online gambling because I see that gambling ads is still everywhere the place. Those who people who resume in their jobs might still gamble and they might play harder than usual because they already have a reliable source of income.

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Quote from: Kemarit on May 03, 2023, 06:52:04 AM

And in this community alone, we have seen a boom as well with gambling related signature campaigns that even OG bookies like Stake still doing their promotions here. And the numbers might continue to grow as well in the next 5 years or so. So you don't need to go out and enter a traditional base casinos', you can just play at the comfort of your living room like everyday.

The pandemic made everything explode and with the level of the new marketing strategies been use by the newly launched casino, if you don't keep up by doing the exact marketing or similar marketing, you'll be left out of customers as they'll go for the new casino.

Online casino now spend millions just for marketing and giving their casino some celebrity endorsements. Stakes has drake adverting for them each time he plays a game and upload on his social media and the ads on billboards and other ads places.

So much is now been put into marketing, making apps and the site very user friendly and all this started during the lockdown period as more people started making use of online casinos as they couldn't go out or felt bored indoors.

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The gambling industry has, like many other industries, been largely overtaken by the online market, and, although gambling in land-based casinos still exists, it has opened the door to a growing market because people can gamble from home at any time and avoid travel and being seen. This also brings other problems, because problem gamblers have the vice available at any time from their mobile and consequently it is much more difficult to quit.

Quote from: Kemarit on May 03, 2023, 06:52:04 AM

Not surprised by the statistics and the numbers, I mean even before the pandemic online gambling industry is booming. But during the Covid-19 lockdowns, every gambler stays at home and obviously they can still continue to do their gambling activity when mobile devices such as cell phones, PC/Laptop and tablets.

And in this community alone, we have seen a boom as well with gambling related signature campaigns <...>

With the lockdowns there was a booming of online activities in general. It was especially noticeable with gambling and what you say about the signature campaings, although it is true that they are very important nowadays in the forum, it has been like that for a long time. Both with bitcoin and in the forum, gambling has played a very important role and I think the current price and the market cap owe a lot to it.

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