Is the surge in online gambling sustainable?
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The igaming industry consultant explains in his column for Yogonet what is driving growth for the sector and outlines the key areas of growth. He notes the need for operators to be proactive in their approach and offer a fresh portfolio of products.
The online gambling sector has been experiencing an impressive expansion. Corporate service providers have been inundated with licensing and incorporation requests. Ancillary service provider are reporting record revenue.
The pandemic has changed the dynamics of the online gambling industry. The younger demographics of gamblers, particularly the 18-35 age group, account for a big chunk of new business. Asia and the Pacific area witnessed steady growth, accounting for much of market. Latin America, India, and Europe also saw growth.
There are several key areas of growth in the gambling sector. One of them is the transition of eSports and live dealer games. Mobile gambling is also growing. The market for live dealers games is expected to be worth $13 billion by 2025. Almost half of the world’s population own and use a smartphone. Nearly 5 billion people have regular internet access. The use of mobile gambling can increase revenue. It is important to offer an app or a mobile-optimized site. There are also more people using the internet. They are more likely to play games and gamble via their smartphones.
The future of the online gambling industry is full of potential. Operators need to be proactive and stay on top of emerging trends and demands. Creating a niche and offering top-quality products and customer service will help them remain competitive.
