As the world of finance increasingly relies on complex trading and investment strategies, it can be difficult to ascertain where the best opportunities lie. One industry that has seen substantial growth in recent years is that of the gambling industry, particularly with the growth of the Forex markets. In this article, we take a look at the gambling industry forecast for Forex markets and explore what potential the markets carry for investors.
Overview of Gambling Industry Forecast
The gambling industry is a worldwide phenomenon that continues to grow year after year. The U.S. alone saw a 6.7% increase in commercial gaming revenue in the third quarter of 2023 and is expected to reach over $29 billion by 2024. Furthermore, studies have shown that up to 26% of the population participates in gambling activities, which equates to 1.6 billion people worldwide. Technology has also enabled gambling to become accessible to virtually anyone with an internet connection.
The Effect of COVID-19 on Gambling
Though the gambling industry has experienced immense growth leading up to 2020, the pandemic ultimately took a toll on the industry, at least in the short term. According to a 2020 study, the total gambling activity decreased by 13.29% during the first phase of the outbreak. Most notably, land-based casinos and other brick and mortar gambling establishments were especially hit by the pandemic due to the closure of virtually all public spaces. Additionally, most government measures preventing the spread of infection limited or completely banned gambling activities.
Gambling Stocks to Watch
Despite the temporary setback, the gambling industry is projected to continue to grow and increase global revenue. As such, many investors are turning their attention to investing in gambling stocks as a means of generating a profit. Popular stocks include those of well-known casino and gaming companies, such as Scientific Games, William Hill, and 888 Holdings. In addition, gambling technology companies such as Playtech and Intuitive Machines are also becoming increasingly popular areas of investment.
Analysis of Gambling Industry Forecast
Despite the impacts of the pandemic, the overall forecast of the gambling industry is optimistic. The shift towards online betting and iGaming has been one of the key drivers of gambling activity. Players have capitalized on the convenience of online gaming, as well as the array of other benefits such as more enjoyable graphics, vast selection of games, mobile accessibility, and live casino. As land-based casinos continue to recover from the pandemic, more and more players are expected to further embrace the digital gambling arena.
Another promising area in terms of gambling industry forecast is sports betting. With the emergence of various online sports betting companies, more and more people have found themselves drawn to the activity. The United Kingdom serves as a prime example of sustained growth in sports betting and gaming as a whole. Despite the government’s attempt to impose stricter guidelines on the activity, UK sports betting experienced significant revenue growth and retains its title of one of the top countries in terms of European sports betting revenue.
In conclusion, it is clear that the gambling industry and its associated sectors are forecasted to remain a profitable and growing enterprise. With further advances in technology, as well as the introduction of new regulations, the landscape of the gambling industry is only expected to expand. As a result, investors will be able to capitalize both financially and economically from the growth of the industry as a whole.