As the global foreign exchange (forex) market becomes increasingly volatile and complex, it is now more important than ever to stay up-to-date with the latest trends in the poker industry. In this article, we’ll outline the major trends that are emerging in the forex market and the key strategies for trading investments in this activity. By the end of the read, you’ll have an understanding of the current state of the industry and the very best ways to ensure success when trading investments.
Growing Online Poker Market
The Online Poker market is expanding at the same rate as technological advancements in the gambling industry. In 2020, the global Online Poker market size was estimated to be valued at $96.2 billion and is forecast to reach $170 billion by 2030, registering a Compound Annual Growth Rate (CAGR) of 12 percent from 2022 to 2030. As more people turn to online platforms to quench their thirst for gambling, the market is witnessing high growth.
Starting from Plastic to Cardboard and Other Materials
The rising demand for poker across the globe is driving the market for poker materials. While plastic was the primary material for poker chips and cards at one point, the changing preference for lightweight materials has seen the rise of cardboard materials and others. With regards to poker table material, wood is the most preferred material owing to its durability and sturdiness.
Video Poker Machines Witnessing Increasing Popularity
As per estimates, the video poker machine industry was valued at $14.7 billion in 2020 and is projected to register a steady growth until 2026. The rising popularity of video poker games has been gaining traction around the world as it encourages gamblers to explore different strategies. In addition, the entertainment factor associated with the game and their attractive variants, such as jacks-or-better draws eye-catching gamblers to the online platforms.
Analysis of the Impact of Legalization of Online Poker
The legalization of online poker has generated a huge impact in the online market. A research study from the UNLV Gaming Research & Review Journal revealed that the potential growth of the US market would be determined by the passing of regulations and institution of protection measures for the industry. As more people get to enjoy the experience of the game, sales volume for the online market are expected to increase.
Rise of Smartphone Poker Applications
The emerging trend of the development of online gambling applications has seen a rise in the smartphone poker applications. According to industry estimates, the Poker App Market is projected to reach multimillion USD by 2029, experiencing an unexpected Compound Annual Growth Rate (CAGR) of the 2022-2029 period. With the user-friendly and intuitive designs, increasing popularity of poker apps is pressing the demand for poker tables and chips to a whole new level.
The online poker market is growing rapidly, driven by the changing trends in poker technology and the wide acceptance of the online market. With the introduction of smartphone poker applications, the market is likely to experience high growth. Players can also expect a heightened variety in poker materials, as companies focus more on lightweight materials. Moreover, a recent report from the UNLV Gaming Research & Review Journal suggests that the potential growth of the US market should online poker be legalized. Through the study, it can be concluded that the poker industry is set for significant growth in the near future.