What has changed in the Gambling Industry in the Last 5 Years?
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The gambling industry has experienced unprecedented changes in the last 5 years. Online casinos offer many opportunities that were unavailable in conventional casinos. Gamblers can play their favorite games and stake amounts they are comfortable losing.
Online gambling attracted 26% of the global population who gamble. The industry is worth at least 6 billion dollars. Some countries have embraced online gambling and are generating income to fuel their economies.
Gambling industry in the United States is worth $261 billion.
In 2018, the UK's online gambling industry generated over $15 billion. 32% of the population are weekly gamblers in the country.
80% of Australia's population gambles. The gambling population spent $18 billion in 2018.
Gambling industry in Canada grew by 4.9% in 2017 and generated CA$17.3 billion in revenues.
Technological advancement continues to compliment the online gambling industry. Emerging trends in the industry include:
Gambling on voting outcomes has become a popular phenomenon. Businesses wagered $62 million on the 2022 Florida elections. Las Vegas Sands, FanDuel and DraftKings invested $37 million in the election.
The growth of cryptocurrency as a form of payment has had an appealing effect on online casinos. Bitcoin is the most valuable cryptocurrency, but gamblers can choose from rille, Dogecoin, etherium and other emerging cryptos.
Sports betting has become too popular and is threatening to eradicate scientific gambling. Scientific gambling has been impacted by the difficulty in its processes.
Playboy is planning to launch a new game to boost its presence in the Indian market. The essence of investing in India is to create a market share away from the fierce competition in US market, which has increased since gambling activities increased.
Companies are merging to gain market share and fund the growth agenda. The result is the formation of giant companies that are causing ripples across the market.
Online gambling industry has experienced dramatic changes. Krystyna Przybylo's research is an eye-opener to portray the changes in the industry.
