As the world moves ahead, new markets and industries are developing and innovating more than ever before. One such sector is the online gambling industry, which has grown exponentially in recent years and features many changes in trends forex. In this article, we’ll take a deep dive into the online gambling industry and explore its latest trends. The gambling industry is undergoing a period of substantial growth. According to a review by Eilers & Krejcik Gaming, the online gambling industry is estimated to grow from $42.2 billion in 2018 to $67.3 billion by 2022, representing a compound annual growth rate of 11.5%. This growth is being supported by greater law liberalization in a number of markets, the convenience of online gaming portals, and the prevalence and wide adoption of mobile technology.
The report highlights the increases in turnover and operation costs as contributing factors to the industry’s growth. JD Peterson of Eilers & Krejcik Gaming commented in the report, “Since 2013, the industry has seen a significant rise in operating costs that are outpacing total growth in the upward trend for the entirety of the GGR landscape”.
Additionally, sports betting continues to be a major factor in the industry’s growth, as it is expected to account for more than 87% of the industry’s revenue. Brick-and-mortar casinos are also expected to grow, driven by technological developments in gaming beds, improved customer service, and higher levels of security.
In the coming years, the industry is expected to continue on this growth trajectory and see a shift towards remote gaming. This will be enabled by the introduction of virtual reality, improved payment technologies, and greater regulation. Moreover, the introduction of blockchain technology and cryptocurrencies may also be a major driving force in the future of this industry.