Global Forecast of Online Gambling and Betting Market

Since the time gambling was introduced as a formal recreational source, people have been betting on outcomes of games in casinos, gaming parlours and racing tracks, which have now moved to online gambling. Land-based casinos are trying hard to reduce the growing popularity of online gambling. It has been growing exponentially in states and nations where it is legal as it is available on online portals and downloadable applications. The biggest reason for growth of online gambling is that players can use their mobile phones to play varied games like slots and card tables, and also place bets on sporting events like horse racing and football.

Growth of online gambling

online gamblingThis industry has grown due to rapid expansion of applications oriented smartphones and tablets followed by low cost payment options and growth of consumer confidence in online gambling sites which offer freebies all around the year to customers. The online gambling industry consists of several gaming options like sports betting, slot machines, and bingo, lottery and casino card games like poker, blackjack, baccarat and craps. Online gambling is limited to Western Europe, Australia, America and is a heavily regulated industry to streamline activities of betting. In Asian and North American nations online gambling with real money is limited to few nations and states.

Emerging trends in the industry

Rising demand for legalising online betting is forcing state governments to look into regulations to implement games at the earliest as these can also earn revenues which can be used for welfare activities. Social media and mobile gaming applications have also contributed significantly to the growth of betting industry which has also helped in growing popularity of digital currency Bitcoin. The lucrative nature of online gambling has prompted several states to consider legalization of online casino like New Jersey which generated $1 million within a week of starting operations. The largest brands in this industry are 888 Holdings, Betfair Group, Ladbrokes, Poker Stars and Amaya Group which owns Full Tilt Poker.