Casinos have become one of the most popular forms of entertainment in recent years. It’s not surprising that so many people are attracted to this industry. The online casino industry has evolved, and it has become more popular than ever before.
There are many reasons why people love playing at online casinos. These include convenience, variety and quality, among others. This article will highlight some of these reasons. It’ll also provide helpful information about online casinos in general. Without any further ado, let’s get right into it.
Large Customer Base
A survey by the American Gaming Association found that 1.6 billion people worldwide gamble, with more than half of them gambling online. The survey also found that more than 4,000 online casinos are available to choose from, and there are over 20 million registered players globally.
Steady Growth
The iGaming industry is a growing market, with the number of active players growing by an average of 5% per year over the past decade. While not as fast-paced as other industries, the iGaming industry will continue to grow at a compound annual growth rate (CAGR) of 10%.
It’s expected to reach $81 billion by 2022, according to Statista. The industry has seen tremendous growth over the past decade, with revenue growing from $73 billion in 2011 to $81 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%.
2024 Estimate
According to a new report, the online gambling and casino industry is estimated to be worth $94 billion by 2024. The market’s growth is expected to be driven by the rise of mobile gaming and the continued popularity of esports.
While many factors are driving this growth, including increased interest among millennials, the most crucial factor may be esports. According to Statista, esports views have risen from 300 million in 2016 to over 500 million today, with viewership doubling every three months since last year. This kind of increase in views would undoubtedly secure tremendous growth in the industry as long as it continues this way.
These figures suggest that traditional forms of sports entertainment continue to dominate television ratings and attendance numbers across North America and Europe. However, there’s room for new forms of gaming on digital platforms. This includes YouTube and Twitch, which could help drive revenue at an even faster rate than what we’ve seen so far.
Rise in Popularity
Online gambling and gaming are prevalent in most countries. In fact, it’s hard to find a country where gambling and gaming aren’t popular. In Europe, gambling is legal as long as the government and gambling commissions regulate it. Regulation varies from country to country, but most European countries regulate who can play games and ensure gaming is secure and safe.
Conclusion
This growth of the online casino industry is likely to continue as internet users continue to use their computers and mobile devices to gamble. With the rise in online casinos, we’ll only see these multiply in the years to come.
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