With the gaming industry spreading its reach into global markets, online gambling remains an important part of the industry’s success. The rise of technology allows for more convenient and safe gambling experiences, making it easier than ever before for gambling enthusiasts to pursue their hobby. As such, there’s much to consider when it comes to the online gambling market, particularly in the highly lucrative foreign exchange market. This article will delve into the details of the online gambling market’s impact on the forex market and the potential implications for both industries. The global online gambling market is expected to grow significantly in the coming years. This industry has been gaining traction with increasing digitalization, expanding technological advancements, and favorable regulatory laws. According to the recent research from Grand View Research, the global online gambling market was estimated to be worth USD 60.6 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2021 to 2028.
Factors determining the growth of this online gambling market include growing internet penetration, rising player numbers, and low cost & security of deposits. Additionally, the trend of virtual and live online gaming is gaining popularity among players, providing a platform for match-fixing and improved gaming experience.
Online sports betting has been gaining traction, especially in North America and Europe. Despite the economic downturn due to COVID-19, the market size is expected to increase due to an increase in opportunities created by technological advancements. The introduction of the e-sports gambling segment has also changed the trend of gambling, which is expected to add value to the global online gambling market.
The emergence of virtual reality (VR) and augmented reality (AR) have also gained traction, providing immersive gaming experience that appeals to the younger generation. In addition, the legalization of online gambling in certain countries is driving the demand for online gambling activities. The key players operating in the online gambling market are 888 Holdings plc., Bet365 Group Ltd., GVC Holdings PLC, Kindred Group, Ladbrokes Coral Group, and William Hill PLC.