Online Gambling Experiencing Boom Times. Image credit: Supplied
New online activities such as e-sports, fantasy sports, skin gambling, and loot boxes, are also adding to the growth.
The Australian market is experiencing solid growth according to a report by IMARC Group, which predicts further considerable growth between now and 2026, while a recent national study of interactive gambling (iGaming) in Australia has found that 17.5% of 15,000 adults surveyed gambled online in 2019, up from only 8.1% in 2010.
The definition of online gaming runs the gamut from lotteries to card games such as poker, bingo, sports betting, casinos, and horse racing, with players downloading gambling software on devices or accessing them through web browsers. CasinosJungle is a good place to start to find trusted online casinos that have been rated and reviewed by experts.
Gambling online is convenient and beneficial in several ways: many games are free, loyalty points may be acquired, access is global and not limited by national or state laws, while it’s possible to customise budgets to limit overspending, and access a variety of payment options.
The boom in smartphone ownership, the surging availability of high-speed, on-demand Internet connectivity, and the proliferation of digital payment methods are the three main drivers in the growth seen in the Australian online gambling market.
What’s more, advancing technological innovations seen in the integration of gaming platforms with leading new technologies such as blockchain, three-dimensional (3D) animation, and virtual reality (VR), introducing an immersive and highly realistic gaming experiences are fuelling growth.
In the U.S., as more states legalise online casinos, operators are expecting record-setting revenue numbers. According to industry insider Bonus.com, Michigan pulled in over $435 million in annual revenue as of June 2021, with iGaming platforms pulling in $83 million in revenue in July. 2021.
The state of New Jersey set a record for revenue in July with a figure of $118,638,577 in operator revenue, while Pennsylvania’s revenue stayed near the $88 million mark in June and July, keeping the fifth-most populous state of the nation in place as the second-largest legal online casino market in the U.S.