Lynk88 would share a quick overview of the online gambling market and online gambling demographics 2020. So stay tuned if you are interested in these topics!
Projected Growth of Online Gambling Market
Online gambling has been growing so fast in the past few years. And! It has been foreseen that it would progress even more in the next years. As for the compound annual growth rate (CAGR), the global online gambling market is forecasted to grow 8.77% until the 2024 period—with Artificial Intelligence (AI), Machine Learning, and Chabot taking over the online gambling market evolution.
The online gambling market would most likely expand its gaming towards sports betting since the United States’ Supreme Court legalized the game in 2018. Moreover, people are loving to bet on world tournaments like FIFA World Cup, English Premier League, and more. Wagering on European Championship games is also a crowd-favorite in the sportsbook online gambling market.
If sportsbook continues to grow now, it would be popularized in the online gambling market. And yes, as sports betting starts to be known as time goes by, it would probably become one of the most dominant virtual gaming in the online gambling market.
The Rising Online Gambling Demographics
As mentioned in the projected growth of the online gambling market, of course, the same goes when it comes to online gambling demographics. But first, what is demographics? Demographics is a study of a population that is based on age, sex, race, and other factors. So if you would ask about the online gambling demographics, here you go!
Who Run The Online World?
It would always be men who are stereotyped as gamers. But! Do you know that there is a rise of females who are playing casinos now? Yes, this is true! Females are now part of the online gambling market and not just males. With the convenience and accessibility of online gambling apps, rise of women has started betting online already as from the forecast by researchers.
More active than ever, there are now 40% gambling activities traced to women in the United Kingdom based on U.K. Gambling Commission (UKGC). They are now opting for the online gambling market because profit margins are tight and who would resist easy cashouts, right! While ladies from one game to the other, bingo is the most popular for women in the UK. Also slot games.
Aging, But Same Old Rules
When it comes to age, there is still no different updates in the general online gambling market. Same as before: 18-year-olds can already gamble. Of course, if a newbie, players must have minimal supervision and parental permission because responsible gaming is and would always be promoted by all online gambling markets.
The age who can play in the online gambling market depends on the country you are living in. In some nations, 16-year-olds are already allowed to try lotteries. However, for some states, they cannot. Make sure to check your location’s online gambling demographics for safer plays and much more securing gambling.
Favorites in the Online Gambling Market
Based on the survey done in the online gambling demographics, it is said that most gamers use a desktop when it comes to online gambling.
Although mobile applications are starting to be promoted in the online gambling market, people still prefer desktops for a bigger and happier experience. The online gambling market says that gaming via desktop gives full practice and understanding. Thus, better gaming!
As for the most favorite games in the online gambling market, it includes sports betting, casinos, poker, bingo, and more.
The Top Online Gambling Markets in The World
So aside from the sex, age, and favors, the places with the top online gambling market should also be discussed in online gambling demographics.
European Online Gambling Market
Based on research, the European online gambling market skyrocketed in 2019. Its market size was 22 Billion United States Dollars. And this is all because of the gambling legalization of Spain, France, Germany, Italy, and Malta.
Moreover, it is also believed that the European online gambling demographics have grown because of the rise of smartphones and the internet. Also, the UKGC permitted gambling via the Gambling Act 2005, so it contributed to growth in the European online gambling market.
The continuous and impressive high of virtual gaming is seen in the European online gambling market. Looks like the games are on and are here to stay in Europe because it helped the economy through digital currencies. Thus, to bore out the free time by spending leisure online.
North American Online Gambling Market
It is said that North America, including the United States and Canada as the fastest-growing region when it comes to the online gambling market. With the recent legislation framework that allows New Jersey, Pennsylvania, and Nevada to operate legally, the online gambling market also boomed along with the actual one.
Knowing New Jersey has the largest market of the regulated online gambling market in the US as of this present time, a number of new gamers arisen. Various sportsbook and betting apps also emerged in the state since it is legal anyway.
Having the North American online gambling market expand its legality from one state to the other, there could be a possibility that some states would go regulated in the coming years, too. There are still no hard evidence regarding that, but most probably, it will.
Asian Online Gambling Market
Of course, this article would not be complete without saying things about the Asian Online Gambling Market!
Although most Asian countries do not allow gambling to be regulated in their locations, the online gambling market still thrives in Asia. There are lots of wagers in this continent based on global online gambling demographics. It is even declared as the second-biggest social casino market—with America as the first biggest and Europe as the third—so it deserves to be part of the top online gambling markets.
High economic growth on online gambling market, thus in online gambling demographics in the Asia Pacific. With Macau and Hong Kong as two of the most known place for casinos and sports betting, it is expected to boost its online gambling market in the next years. And who knows, India might add more online gambling market regulated cities in the future, too!
Online Gambling Market & Demographics
As you can see, the online gambling market is reaching higher and higher places in the present time. It does not just give players and wagers alike the leisure time that they want, but also the gaming that they need in their everyday lives. The economy is also starting to depend on online betting, so you could expect that the online gambling demographics in a few months and years now would grow even more.
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