Online gambling as an entity, is huge. There is no getting away from that. According to a report by Transparency Market Research, by 2026 – the global online gambling market is expected to reach $128.2bn in value. This is an indicative compound annual growth rate of almost 12% from 2018 to 2026 – a staggering statistics when one considers the general tightening of regulation across the globe.
In Britain alone, online gambling accounts for 38.8% of all gambling – with the £4.5bn generated from online activity in 2016, being broken down into the following:
- £2.6bn – casino games
- £1.6bn – sportsbook betting
- £152m – betting exchanges
- £153m – bingo
- £26m – pool betting
In fact, online slots generated £1.8bn alone which is a significant amount. James Green, who is the Gambling Commission Programme Director claimed that, “Our latest statistics show that with the growth in online gambling, the industry is increasingly taking a creative approach to using technology to engage consumers. As the online sector grows operators will also need to demonstrate that they are taking an equally innovative approach to ensuring gambling is safe for all online consumers.”
His words around the creative approach to using technology to engage customers, are supported with the growth in review and in-depth technological reports on existing operators within the industry. Affiliates won’t just compare a casino bonus site anymore, but will dig deeper into the technological aspects of a casino, including the software provider, cashier and payment methods, and pay out/return percentages.
In terms of online gambling on a global scale, North America remains the fastest growing region, not least because of the change in legislation framework. Whilst it only currently allows bookmakers licensed in Nevada, Pennsylvania and New Jersey to operate legally – more are expected to open up as time goes by. Pennsylvania is the most interesting of the states legalised to-date, not least because it is the biggest one to have regulated the activity. Laws here allow for online casinos, online poker, and sports betting to be practiced, which has resulted in a whole host of new operators becoming live in the state.
Sponsorship has become integral to its growth, namely in European countries. Football teams across the continent are engaged in high-profile sponsorship agreements with gambling operators. Whilst the press these agreements have attracted hasn’t always been positive, the publicity has increased no-end. The facts and figures presented by the Gambling Commission above, are likely to just be the start – this is an industry that is currently, and undoubtedly will continue, to see unprecedented growth.