How Big is the online gambling industry today? - page 23.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

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

Right on point. Recently I had literally seen so many celebrities endorsing Lotus365 gambling site and I felt like how come so many celebs are promoting it.
Basically the site is "investing" so much in advertisement and promotions that many people will eventually start using it.
They know sooner or later they will get their money back once the userbase is large enough.

smyslov

sr. member

Activity: 2002

Merit: 269

Nothing can beat gambling as an industry, in fact, gambling can sustain one's country's needs and is the biggest draw for tourists some examples of this are Macao and the state of Las Vegas which is only for offline casinos, Online casinos can triple the profit of what the offline casinos are making because their clients are not just tourist but people where they have access on their platform and where their providers allow them to play.
For an industry to still kick profit even in times of pandemic could only mean that it will and can survive in every situation of course with the exception of World War.

iv4n

legendary

Activity: 3164

Merit: 1175

Quote from: davis196 on May 04, 2023, 08:21:38 AM

63 billion dollars seems like a pretty small market size on a global scale. The global GDP was around 80 trillion dollars, if I remember this correctly.
I don't believe that the global gambling industry is less than 1% of the global GDP.
I guess that this is the market size of the legal and regulated part of the gambling industry. The size of the illegal and unregulated part would probably be bigger. I agree that sports betting has a way bigger potential for worldwide growth, because it is considered to be less harmful, compared to the traditional casino games(which might be a misconception).

Quote

The global gambling market reached a value of nearly $449.04 billion in 2022, having declined at a compound annual growth rate (CAGR) of -0.9% since 2017. The market is expected to grow from $449.04 billion in 2022 to $ 765.89 billion in 2027 at a CAGR of 11.3%.

This is for the global gambling industry. $63 billion is for online gambling, which is a bit low in my opinion as well, I wonder did they included crypto gambling in their calculations? If that is possible at all, we all know that the crypto gambling space is like a wild west when it comes to some regulations, and who knows how money flows and how much they report?

Anyway, the gambling industry is on the rise, online gambling especially... and whatever numbers we see now will be higher every year.

worle1bm

full member

Activity: 1834

Merit: 166

From the past few years the gambling industry is booming with billion dollars fund management system and there has been significant rise in the number of players and new casinos.Actually the thing is pandemic has given people more exposure to gambling as they want to stress out by playing over different games while some want to try luck to gain more profits if they can to have surplus funds with them so there are mix of reasons for which this has been on rise.

lizarder

hero member

Activity: 1554

Merit: 877

Quote from: stomachgrowls on May 03, 2023, 05:21:48 PM

We are now on an era on which digitalization is really indeed giving off that kind of fast accessibility on anything specially on online things not only limited on gambling space but also in other industries as well on which
it would really be just that normal that there would really be those applications which we could simply be able to access anytime and anywhere we want as long we do have that internet connection.In speaking about progress then in just looking alone into those physical places or casinos where there's a significant rise up on yearly basis and it didnt stopped nor really that goes down, which means that demand
is really there.

Excluding out other markets just like on fiat casinos online and adding up on crypto casinos which it is really that a normal approach that we do have that increase too on this aspect considering that
we are almost spending our time on facing up our cellphones or even computer which means theres a specific market on that and this is where owners would really be
considering on building one since they do know that they could really get some good marketshare or demand into this and it did really happen.

Technological sophistication is making the online gambling market even bigger today and I see that many gambling sites are starting to be introduced and the developers choose promotions through artists, for me this is not surprising because they do have large followers on their social media platforms, so the influence of their big names also have their fair share of promotions that are run. Gambling has been going on for a long time in human life regardless of the negative and positive sides, this reason will make online gambling even greater with the convenience offered by these gambling sites.

Today you can relax at home while placing bets on sports and you no longer need to bother going to a physical gambling place that provides football betting. I'm pretty sure the online gambling market will expand even more in the following year, because the process is not complicated in placing bets for people who want to gamble.

Solosanz

hero member

Activity: 840

Merit: 612

Quote from: davis196 on May 04, 2023, 08:21:38 AM

63 billion dollars seems like a pretty small market size on a global scale. The global GDP was around 80 trillion dollars, if I remember this correctly.
I don't believe that the global gambling industry is less than 1% of the global GDP.
I guess that this is the market size of the legal and regulated part of the gambling industry. The size of the illegal and unregulated part would probably be bigger. I agree that sports betting has a way bigger potential for worldwide growth, because it is considered to be less harmful, compared to the traditional casino games(which might be a misconception).

Yeah, as we know there's always a person who can find a loophole to not report all of his wealth for many reason, most of the case he don't want to pay tax. People who included in Forbes the richest list might not be the richest, because if you included on that's list, you need to show all of your wealth and accept to pay huge amount of tax. Some richest people don't want to be included in Forbes because they don't want to get exposure anymore.

The same applies like illegal casino where the owner can earn all the profit the site made.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: AicecreaME on May 04, 2023, 08:05:41 AM

Gambling industry has grown a lot. From the past years, there are only limited casino websites where you can enjoy yourself by playing and betting. There are also limited variations of games way back compared to today. Fortunately, gambling industry has progressed so much that gamblers who just want to entertain themselves and perhaps make a profit on the side have many alternatives and options to choose from nowadays.

Comparing before, the ease of transacting is evident too. There are now smaller transaction fees and faster transaction time compared before and there are many means of depositing. You can even choose what coin you will use. Various crypto availability is one of the pros that most gamblers like and the website's personalized coin as well. Bonuses and promotions evolved too. Development of gambling industry will surely happen continuously and I really do hope that along the way, players will be more disciplined and responsible.

What has made the gambling industry grow exponentially is the recent covid pandemic which hit many offline gambling industries in many countries and eventually closed down. And online casino owners see this as an opportunity so they carry out massive promotions to attract offline gamblers who are used to playing in offline casinos to move to online casinos. And in fact, their strategy worked as they got a surge of players coming to their casino site. And it is also the case with online crypto casinos, which are benefiting from the soaring number of players and that has made crypto even more popular.

By using crypto, offline gambling players can be more comfortable playing gambling. They don't need to use a bank account to deposit but only need to buy coins available in many places, especially exchange exchanges and send them to their gambling account. And the good news is that crypto provides a large selection of coins they can use to gamble. But unfortunately, this also triggers another problem, namely gambling addiction because many beginners do not have good self-control in gambling. This is what all gamblers must solve, whether novice or pro.

goldkingcoiner

legendary

Activity: 2030

Merit: 1643

Verified Bitcoin Hodler

If you do not take into account the unreported or under-reported earnings of online casinos, 60-80 Billion USD is the estimated size.

I have no idea of the actual size of the online gambling industry, especially if you take into account the fact that it is so easy to open an online casino nowadays, even for most laymen... Which is why there are so many incompetent failures in the online gambling world, I guess...

But I would wager that online gambling is way bigger than physical gambling by now. Any physical casino owner knows its best to go with the techno/sociological flow instead of against it, and so any physical casino owner must have created a online counterpart of their business. And if you count the stand-alone online casinos without a physical presence, then logic dictates that online gambling is the clear winner, when it comes to sheer numbers.

davis196

hero member

Activity: 2968

Merit: 913

Quote

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.

63 billion dollars seems like a pretty small market size on a global scale. The global GDP was around 80 trillion dollars, if I remember this correctly.
I don't believe that the global gambling industry is less than 1% of the global GDP.
I guess that this is the market size of the legal and regulated part of the gambling industry. The size of the illegal and unregulated part would probably be bigger. I agree that sports betting has a way bigger potential for worldwide growth, because it is considered to be less harmful, compared to the traditional casino games(which might be a misconception).

AicecreaME

sr. member

Activity: 2380

Merit: 454

Gambling industry has grown a lot. From the past years, there are only limited casino websites where you can enjoy yourself by playing and betting. There are also limited variations of games way back compared to today. Fortunately, gambling industry has progressed so much that gamblers who just want to entertain themselves and perhaps make a profit on the side have many alternatives and options to choose from nowadays.

Comparing before, the ease of transacting is evident too. There are now smaller transaction fees and faster transaction time compared before and there are many means of depositing. You can even choose what coin you will use. Various crypto availability is one of the pros that most gamblers like and the website's personalized coin as well. Bonuses and promotions evolved too. Development of gambling industry will surely happen continuously and I really do hope that along the way, players will be more disciplined and responsible.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: Wexnident on May 04, 2023, 12:08:55 AM

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

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

It's pretty damn big that's for sure, but as for it becoming the highest then I can only say in all honesty that I have no bloody idea. I mean it's not like only he gambling industry grew with the advent of the internet, a LOT of businesses have popped up and grew, from small ones to new ones.

If it was solely in the gambling scene, with casinos being it's only competitor then maybe, the sports scene grew pretty big after all if you include how eSports made a name for itself these past decade or two.

Booming of internet is big reason why this industry became so big. And many people which have an idea how to operate a casino create their own that's why we see a huge spike of this industry plus we can add up the pandemic where gambler doesn't have a choice but to gamble online if they want to entertain theirselves. Esports scene is expected to grow big as many institutional investor are pouring money there so gambling platform take a chance to ride up the fame and up choices to bet so that they can gather millions of profit in return.

monedauno

newbie

Activity: 14

Merit: 0

A:

I'm going to answer a couple of questions for you:

1. How big is the online gambling industry today?
2. Online gambling sites are a good way to get started and have a chance to win a lot of money. They are the most popular sites for online gambling and you can find them by searching for "www.wagering.com" or "www.casinobet.com" in Google, Yahoo, Bing, etc.

1. Wagering.com

2. Which of the following is the most popular online gambling sites?

Sportsbet.com

3. Which of the following is the most popular online gambling sites?

The World's Most Promising Online Casino

4. Which of the following is the most popular online gambling sites?

Gambling site of the year, the year of the year.

5. Which of the following is the most popular online gambling sites?

Sportsbet.com

6. Which of the

traderethereum

hero member

Activity: 2870

Merit: 574

Vave.com - Crypto Casino

Quote from: xSkylarx on May 03, 2023, 10:49:46 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.

Because the development of online casinos is becoming so fast, many people who have the money decide to create their own casinos.
That makes the growth of casinos on the internet more and more and will probably grow even more in the future.
The ease of internet access in various places makes online casinos an easy choice for gambling as people do not need to go to offline casinos and follow the many requirements that often irritate them.
Online casinos will not ask for many requirements because they know that internet users want to hide their privacy.

adzino

copper member

Activity: 2968

Merit: 575

www.Crypto.Games: Multiple coins, multiple games

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.

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

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.

ralle14

legendary

Activity: 3206

Merit: 1885

Metawin.com

You've already mentioned some of the helping factors for online gambling and I doubt anyone would disagree as I also think it'll continue to grow even though some teams are planning to avoid gambling sponsorships.

Quote from: Hypnosis00 on May 03, 2023, 10:16:19 PM

With the growth of the industry, people are becoming more knowledgeable about managing risks. Therefore, despite the rampant increase in online gambling providers, the addiction rate may not necessarily increase.

I still think it'll increase regardless because you can't expect most gamblers to follow specific rules right off the bat so they don't get addicted. Even with enough information it still comes down to how much effort they're putting into stopping their addiction and it's always easy for gamblers to go back than to break their addiction.

Wexnident

hero member

Activity: 2576

Merit: 666

I don't take loans, ask for sig if I ever do.

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

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

It's pretty damn big that's for sure, but as for it becoming the highest then I can only say in all honesty that I have no bloody idea. I mean it's not like only he gambling industry grew with the advent of the internet, a LOT of businesses have popped up and grew, from small ones to new ones.

If it was solely in the gambling scene, with casinos being it's only competitor then maybe, the sports scene grew pretty big after all if you include how eSports made a name for itself these past decade or two.

Fatunad

sr. member

Activity: 2226

Merit: 347

Did make out some search and speaking about just on a gap or span of 1 year which is on 2022-2023.

The global gambling market grew from $449.04 billion in 2022 to $702.45 billion in 2023 at a compound annual growth rate (CAGR) of 56.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term.
Source

This had published last January 2023 so numbers wont really be that precise now as if we are already on month of May but if we do really look
about those numbers and making out some comparison then we could really tell that there's really some huge movement about its recognition
and demand which means that gambler numbers comes even more higher as years passing.

How about online gambling? If its one includes fiat then its still good, how much more on crypto space? The numbers would even more getting bigger.

xSkylarx

hero member

Activity: 2352

Merit: 594

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.

yahoo62278

legendary

Activity: 3626

Merit: 4440

Seems like every other commercial you see on television is sportsbetting. It not a surprise that gamblers spent 63 billion last year gambling. I wonder what the % was of casino gamblers/sports bettors online and offline? It wouldn't shock me to see more being spent on sportbetting these days.

Hypnosis00

sr. member

Activity: 2338

Merit: 338

Quote from: noormcs5 on May 03, 2023, 07:45:41 PM

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

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

There is no doubt that the online gambling industry is growing very fast and it will continue to grow in coming years. There are reposts that the online gambling industry can surpass the 200 billion dollar mark by 2031. This is indeed a huge growth. I think the interest of gamblers in physical casino will decrease with the passage of time and the gamblers will prefer to online gambling over physical gambling.

Global Online Gambling Market Set to Reach USD 75.15 Billion by 2031, With a Sustainable CAGR Of 12.5% | Growth Market Reports

We are heading down the path where gambling is becoming more accessible, with the sports betting industry being the largest. Most bettors can now stay at home, and the outcome of the game can be verified easily since we can watch the game live.

The industry will continue to grow as the economy grows, as most men have an interest in gambling. With the growth of the industry, people are becoming more knowledgeable about managing risks. Therefore, despite the rampant increase in online gambling providers, the addiction rate may not necessarily increase.

Topic: How Big is the online gambling industry today? - page 23. (Read 2976 times)