The size of the global online gambling market is poised to increase significantly during the forecast period owing to the potential for financial rewards, as well as internet penetration. With increasing betting opportunities, industry players have also given priority to advertising promotion codes. Cloud providers are looking for solutions in unlimited compute and storage capacities to help online game companies expand their penetration. The trends that are expected to influence online betting activities are elucidated below:
- The expansion of casinos in the United States is auspicious
Casinos are taking advantage of the prospect of online gambling through the integration of AI to gauge customer behavior and drive personalization. Technology has become more trendy to analyze and strengthen the customer experience. Online casinos will become even more powerful with advancements in technology, ease of play for beginners, promotions and bonuses. With the future of casinos expected to be virtual, major casino platforms will likely invest in online channels. The size of the online gambling market in North America is expected to exceed $ 20 billion by 2026.
- Online betting is gaining ground in North America
The growing importance of e-sports, football, horse racing and tennis has turned out well for the importance of online betting. The growth of sports leagues, coupled with the integration of local sports betting, has fueled penetration in the United States and Canada. It is worth noting that the growing presence of legal sports betting has helped governments explore opportunities in the form of tax revenue and employment opportunities.
It is relevant to mention that the United States Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018 which restricted sports betting. In addition, the expansion of leading sports leagues, such as the NBL and NHL, will also boost business prospects.
- Europe on the way to be the hub of eSports
As Europe’s tech hubs take eSports to the next level, businesses are flocking to the trend amid the COVID-19 outbreak. Esport exposure could be pronounced in Italy, Spain, France, UK and Germany. Millennials and the Gen Z population have been enthusiastic about a plethora of offerings, including live broadcasts, pay and free TV channels, and video on demand.
Esports have become a force to be reckoned with as companies strive to harness branding power in the region. The size of the online gambling market in Europe could exceed $ 70 billion by 2026. The strong outlook is largely attributed to the arrival of new game formats, adoption of rights sales. content and convergence between entertainment, telecommunications and sports companies.
- Explore the opportunities for mobile gaming in Europe
With online gaming entering a new phase to become a lucrative market, the next few years will shape the global market across multiple revenue streams, with mobile devices being one of them. In particular, the emergence of 5G networks has played a monumental role in supporting the growth of mobile gaming. Smartphone technology has brought a paradigm shift and played a major role in resisting the challenges of 2020. The prevalence of large numbers of people, proximity, money changing hands in an enclosed environment has become a concern. major factor shifting attention from brick and mortar to mobile gaming.
- Poker is thriving in the Asia-Pacific market
Several online gambling sites have shown an increased trend in poker, supported by the use of mobile wallets. Obviously, the referral-based currency and free membership bonuses have become the business model of choice. The trend of online poker is mainly due to the fact that customers are not limited by geography, are spoiled for choice and can play 24/7 on any device. In addition, poker rooms in China, Japan and Australia have followed suit with online bingo rooms and casino games, providing slots and more choices and opportunities to play. Asia-Pacific Online Gambling Market Share is expected to exceed $ 50 billion by 2026.
- Computer gambling in demand in China and India
Over the years, computer gambling has flourished and strives to meet the challenges of the rise of smartphone technology. Considering the importance of convenience, many gamers prefer to play on a PC. Not to mention the fact that computer gambling apparently outnumbers mobile gambling in emerging economies including India and China. Desktop computers could make a significant contribution to the global online gambling market by 2026, in part due to demand for improved image quality and storage capacity.
The interest of leagues, personalities and sports clubs and agencies will accelerate the growth of global online betting. Agencies are expected to contribute their sports marketing experience, while the inclusion of sports teams will boost acceptance and awareness of esports, for example.
Strategic partners are likely to add revenue, capital and know-how to the online betting ecosystem. In order to stay ahead of trends and meet stakeholder demands, blockchain, virtual reality, and IoT should be in demand globally. While it is undeniable that the pandemic has put the industry to the test, a high proportion of newbies and increased consumption over pre-COVID levels have performed well for the global forecast.