While sociologists and economists continue making predictions about the future, the middle class already faces unexpected economic challenges. The epidemic is affecting people even more today. Incomes have been reduced or frozen, shopping opportunities have decreased, and small and medium-sized businesses are suffering losses. However, the epidemic did not affect all niches. Some niches are even seeing highs in traffic and revenue, and iGaming is one of those niches.
How big is the online gambling market?
The global online gambling and betting market were worth 61.5 billion US Dollars in 2021. There are many factors that influence its growth and penetration, including COVID lockdowns and COVID lockdowns. This figure will increase by 86% to $114 billion by 2028.
The largest online gambling software providers (IGT WMS Novomatic, Novomatic, etc.) offer players a large selection of free casino games with no download, you can check this comparison of casinos that offer free spins for new players. These games include stacked wild, 324 ways win, super-profitable paytables, and free spins. They are also available on both mobile devices as well as PCs. Sweet Bonanza, Buffalo, Wheel of Fortune, and Lightning Link are some of the most popular. So, the accessibility of these games is one of the many reasons why this sector will continue growing.
Segmentation of the Online Gambling Industry by Devices
Online gambling is the act of placing bets on the casino and sport-type games via a mobile device. The global online gambling market is expected to reach $154.81 billion in 2030. This will represent a 12.10% annual growth rate from 2020 to 2030.
- Desktop: Many online gamers still use their desktops to play online gambling. This is due to the increased penetration of mobile phones, which are smaller and more portable and can be used on the go for gambling. According to the online gambling report, this desktop gambling market is rapidly declining.
- Mobile: The penetration of mobile phones is high and almost everyone now has one. The majority of people gamble on their phones, rather than at physical casinos or on desktops.
- Other: Most smartphones can access the internet. Most online casino games have optimized their games for mobile devices. This has led to a lot more people than the baby boomers turning to their mobile devices to play these games.
According to PwC’s Global Entertainment and Media Outlook 2022-2026, the global gambling industry is expected to grow to $321 billion by 2026. Seeing this chart you can answer the big question and is a yes, iGaming is still a growing industry. Video games are booming and are expected to continue growing a lot more.
