The Ever-Evolving Thrive Of The Gambling Industry Worldwide

By | June 23, 2021

The gambling world has experienced unprecedented growth in recent years. Most of the growth can be attributed to the advent of online gambling. The internet has enabled gamblers to access their favorite casinos in the comfort of their homes. Gamblers in Asia can enjoy unmatched online casino services on Vwin, which is one of the reputable operators in the entire region, offering a variety of great online casino games. This article examines the ever-evolving thrive of the global gambling industry. 

Unprecedented Growth

In the last ten years, the online gambling world has massively grown. Data from studies reveal that at the end of 2016, the industry was worth 41.78 billion USD. Flash-forward to 2020, the industry was projected to make 80 billion USD. To put this growth into proper perspective, studies on internet use have shown that 11% of internet users globally are online casino players.  

However, it is not the remote gambling sector that has registered tremendous growth. Bookies and casinos have also seen steady growth in recent years. Bingo halls are the only land-based gambling operators that have not registered significant growth. 

Why Is Online Gambling Trendy?

When you examine the global gaming industry in its totality, you will notice that online gaming has registered colossal growth. Studies have confirmed that the considerable growth was due to the multiple technological advancements of the last decade. 

With better technology, online games become more immersive hence attracting more gamers. Notably, improved mobile technology has also contributed significantly to the growth of the industry. With improved technology comes better connectivity and accessibility, which in turn makes it easy to gamble remotely. 

According to research findings, mobile gaming accounts for up to 45% of the international gaming market. Game developers must have been motivated by the fact that the average person spends around 40 hours on their mobile phone every week. There are many mobile-only applications as the gambling world focuses more on mobile-based gambling. 

Moreover, because mobile gambling has become more popular, it has attracted more operators. This is good news for the gamers because with competition amongst the operators; the services become better as they look to outdo each other. 

Another factor contributing to the industry’s growth is the increase in the number of female gamblers. According to reports from the UK, 50% of online gamblers in the country were women. The studies also show that female gamblers love the privacy online gambling provides. Additionally, most of them prefer gambling from their mobile devices. 

Gambling Is a Form of Entertainment

Initially, gambling was not seen as a form of entertainment per se. While you cannot interact with traditional forms of entertainment, online gambling makes it easy for players to create their own narratives. Unlike in movies, your journey and experience as you play an online game depends on your ability and decision-making. As a result, the games become very immersive, and this is enhanced when you place a wager. 

Bottom Line

Online gambling is thriving thanks to innovative technologies that have helped push the limits in the gaming industry. Therefore, as more innovations keep trickling in, the industry is projected to grow even further.