This is the era of the internet, smartphones, and the blockchain technology. Certainly, all these three contributed to the rise of the online gambling industry. But a new factor has entered the picture as a study entitled “Online Gambling Market – Global Outlook and Forecast 2018-2023” revealed that the continuously soaring revenue of Bitcoin and digital currencies will trigger the development of the world’s gambling market.
OVERVIEW OF THE STUDY
The study considers the present condition of the industry through its market dynamics for the period 2018-2023. It covers various factors such as market growth enablers, restraints, trends; and, of course, includes both demand and supply sides of the market. Moreover, it also profiles and analyzes the leading companies and various other prominent companies operating in the online gambling market. The entire study was divided as follows:
Market Segmentation by Product Type
- Online Betting
- Online Casino
- Online Lottery
Market Segmentation by Platform Type
- Desktop
- Mobile
Market Segmentation by Geography
- APAC
- Australia
- Mainland China
- China SAR Macau
- China SAR Hong Kong
- Singapore
- Japan
- North America
- US
- Canada
- Europe
- Italy
- UK
- Germany
- France
- Nordic Region
- Latin America
- Argentina
- Mexico
- Brazil
- MEA
- South Africa
RESULT OF THE STUDY
Report Buyer, the researchers behind the forecast,stated that an expanding number of consumers are using blockchain and digital assets as modes of payment in the global market. From the report, it revealed: “the rapid popularity and increasing number of live casinos will help in the development of the global gambling market during the forecast period. These live casinos have the presence of live dealers and run like a real land-based casino. The rise in e-sport competitions in the form of video gaming or pro-gaming or professional video gaming is driving the growth of the global gambling market. These competitions are multiplayer, and RTS, FPS, and MOBA are the most popular games in the global market. These events are often broadcasted live worldwide using streaming platforms such as YouTube and Twitch.”
All in all, these consumers will ultimately secure the future of the industry. The dynamic changes in their lifestyle, improvements in the living conditions, high-spending sentiments, and rising awareness of the latest technologies will drive the evolution of the online gambling industry. As Bitcoin casino games and crypto-powered platforms become more prevalent, people can move to more convenient online gaming experiences as well as play without having to face too many restrictions which can be limiting when it comes to gaming.
