Online gambling vs eCommerce: Which is the main driver behind payments growth?
$6,000 Welcome Bonus
The global payments sector is expected to grow at a rate of 20.5% every year between 2022 and 2023. India is leading the pack with more than 25.6 billion digital payments in 2020, a 70% jump from the year before. This is mainly down to the use of mobile payments facilitated by wallets.
The global online gambling sector is worth $57.54 billion at the end of 2021. It is projected to increase at a stable and sustainable 11.7% between now and the decade. Mobile devices are the main driver behind payments growth. Online casinos have to cater to the unbanked and those who do not want to link their traditional bank accounts to gambling sites.
The eCommerce sector is worth $9.09 trillion as of 2030. It's growing at a projected rate of nearly 15% from now until 2027. Integrated solutions enabling purchases in just one click are extremely popular. There is growing interest in digital currencies and cryptocurrencies across all sectors and regions. Almost every shop has an online presence where products can be purchased and delivered. The sector also is booming for digitally paying for design, consultancy, or healthcare services.
