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Online gambling market is predicted to value $160 billion by 2026

By Allison Shor - Contributor
1 month ago

According to a recent study conducted from the market research firm Global Market Insights, the global online gambling market is estimated to witness incredible growth in less than a decade. This is due to an increase in smartphone adoption and the improvement of internet infrastructure across the globe. Other factors that will play into the market outlook include convenience and easy accessibility to online casino gaming platforms.

New technologies such as Live Table Games, 3D Animation, and Virtual Reality are being added to gambling platforms to attract customers as well as propel the market outlook of bringing the fun and realism of playing in a land-based casino to the player’s home via a mobile phone or laptop.

The online gambling market is divided into different types of entertainment – bingo, lottery, poker, casino, and betting (sports). As noted in the study, online betting is the fastest-growing segment over the forecast period with Chabot, machine learning, and AI (Artificial Intelligence) substantially taking over the market. Furthermore, the rise of cashless payment methods (cryptocurrency) and an increase of female populations signing up to online casinos – which is, stereotypically, male-targeted – are likely to drive the online gambling industry.

Some of the most notable companies in the gambling market are 888 Holdings PLC, Bet365 Group Ltd, bet-at-home.com, Betfred, DraftKings Inc., GVC Holdings PLC, William Hill PLC, and Sky Betting and Gaming.