The Potential of the Online Gambling Market

The Potential of the Online Gambling Market

The first gambling online site was launched at a time the internet was becoming popular with various people across the world. Since then, it has grown tremendously in almost all the parts of the world. According to research carried out by Juniper Research, the global market for online gambling could grow even higher in the future.

Last year it was worth $620 billion, which included British names like William Hill PLC, Playtech PLC and Paddy Power Betfair PLC, which dominated the list. This year, the market has made a tremendous improvement growing by 13%, reaching $700 billion. The research company estimates that if the current trend continues over the years, the market could be worth $1 trillion by 2022.

The main factors that have led to the growth include improved technology and better access to online payment. Due to the sophisticated chatbots personalising the customer's support and virtual reality enhancing experience, has made the industry more popular over the years. Another factor that has led to the growth of the gambling industry is the change of perception of online gambling across the world. The best market is in the United States.

The American government is expected to make liberal changes to online gambling in the future. A few states have come up with regulations for the industry, and big players are plotting their marketing strategy. Gambling is already legal in Pennsylvania, Delaware, New Jersey and Nevada while some states are yet to legalize it. While several countries are still thinking on whether to realise online gambling, UK remains the biggest market for online gambling. Last year alone, over 100,000 people were employed in the gambling industry with more than £2.8 billion collected in taxes.

About The Author

As a member of the VegasMaster writing staff, I pride myself on delivering quality information about my favorite topic: the online gaming industry. In addition to playing a wide-variety of online casino games, I keep up on the latest iGaming news and trends. My passion for the industry has made me both an experienced player and researcher.

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