Online Gambling To Hit $1 Trillion Annually by 2021
Online gambling is already incredibly popular, and new research confirms that this trend is very likely to continue. Revenue from wagers is predicted to reach almost $1 trillion by 2021, and be equal to the total online spend on all other goods and services, but the exponential growth will be seen this year, and every year until then too. The projected jump for this year alone, for example, is from $550 billion to almost $950 billion.
No country enjoys online sportsbetting and casino play more than Australia, with pokies being the most popular games. The country has always had a large and well-established group of brick-and-mortar casinos, but online playing and betting seems to have really captured the country’s attention. Continued growth seems an absolute certainty here, especially since the numbers are partly due to more players accessing the improved mobile casinos, and pokies play especially well on these platforms.
All growth and statistical gambling industry and revenue information has been provided by Juniper Research, a UK-based firm who announced its findings and comments in a press release on the 14th of September 2016. Juniper Research provides research and analytical services to the global high-tech communications sector and delivers industry commentary, analyst reports and consultancy advice. After concluding its recent study, the research group has also made a few other noteworthy comments on future online gambling trends.
Among the most interesting findings were that, although some online gaming sites have started to accept Bitcoin, encrypted digital currency is unlikely to be adopted en masse. In addition, the worldwide trend towards new gambling regulations is being eschewed in some parts of the world, with governments in places such as the Philippines leaning more and more towards complete prohibition.
The fledgling industry of virtual reality betting was also considered and commented on, with Juniper predicting that this originally niche market will be used by more and more people. Those who were originally drawn to it are also expected to progress to casino-style VR products and then to online casinos and their mobile counterparts.
It's never been simpler or more enjoyable to play casino games online or on a mobile device, as players all over the world and especially Australia can attest to. The predicted exponential growth for the industry is not surprising, and the smaller trends that it generates should be interesting to watch too.