Online Casino Industry Not Trivial Stats
The online gambling industry reached a market cap of $66.67 billion in 2020 and is projected to grow to $100 billion by 2026. This shows that online casinos, alongside leading platforms such as fun88, are a vital part of the gambling industry and have played a pivotal role in its steady growth in recent times.
Despite the popularity of online casinos, the Play Live casino review depicts that it’s still in its growing phase, and there is a lot of entertainment to expect from the industry in the foreseeable future. One way to track online casino’s evolution is to look at the trends, important stats, and figures surrounding their expansion.
This article will therefore provide some crucial stats related to the online casino industry.
Online Casinos Popularity Rose Despite the COVID-19 Pandemic
The online casino industry was positively affected by the Covid-19 pandemic. During the peak of the pandemic, brick-and-mortar gambling shops had to close operations. Online casinos thus became the next best thing for gamblers all over the world. By exploring this online casino through Mega888, you can choose from numerous games.
At least 64% of the global casino players played online casino games during this period. More interestingly, a significant portion of this number probably played over coffee while waiting out the pandemic.
Online Casino Gaming Is Not Just Men Activity
A UKGC survey revealed that more women are now getting involved in online gambling, contrary to popular belief. According to the study, 25% of males and 17% of females respondents had gambled online in the past four weeks. The stat happened to reflect a 2% increase from the previous year.
In addition, most online casino players at parhaatrahapelit-netissa.com are young folks aged 18-35, while older gamblers aged 60 and above prefer land-based casinos.
Perhaps a look at online gambling demographics in different countries would provide more insight.
In Canada,70% of online gamblers are between 18 and 39, with 47% aged 20-29. Moreso, 82.4% of the gamblers in the country are male, while 17.6% are female.
Similarly, over 50% of Chinese players are 35 or younger. At least 37% are between 36 and 50, and 9% are aged 51-65.
According to a study in Australia, men account for 54% of the country’s gamblers, while 45.8% are women.
Generally, online casino players in developed countries are often more educated and financially stable. In addition, they are often males and are within the younger age brackets.
Smartphones Are Partly Responsible for Online Casino Rise
The global online gambling market covers Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The growth and expansion of the industry are primarily due to the innovations by significant players. And a large part of their innovations is targeted at the online casino industry.
An online source known as 888 Blog attributes online casino popularity to the relative ease of accessing casino websites through mobile devices. It is estimated that 12% of online gamblers play online games while commuting, 4 % play at sporting events, and 12% play while at work.
USA, UK, and Macau Leads the Global Online Casino Player Base
Gamblers are spread worldwide, but some countries with the highest casino players are Macau, the USA, the UK, Australia, India, and Canada. Macau is something of a gambler’s hub, with 50% of its revenue generated from gambling.
The US is another powerhouse with 70% of the online player base resident there. Over $35.5 billion is spent by American gamblers each year.
On the other side of the Atlantic, the UK controls a 34% share of the European online gambling market, making it one of the biggest individual markets in the global gambling industry.
Then there is Australia, with its celebrated gambling culture. Many of the world’s gambling population are residents in Australia, where the average Australian spends at least $1,200 on online gambling annually. Online gambling statistics show that up to 80% of adult Australians are online gamblers.
Losses Are Part of Online Gambling Experience
It is not all fun and games with online casinos. Many online gamblers (24%) claim that the online gambling experience has not been rosy for them, making more losses than wins. This leads to situations where they get into severe financial straits. According to the Money and Mental Health Policy Institute, at least 24% of all online casino players have significant economic challenges because of their online gambling activities.
Cryptocurrency Is Among the Best Online Casino Banking Option
Cryptos are digital currencies you can use to pay for goods and services, including gambling. Popular examples include Ethereum, Dogecoin, Litecoin, and Bitcoin.
They are fast becoming the payment method of choice among online casino players. According to a study, around $4.5 billion equivalent of bitcoin has been wagered in online casinos since 2014. The reason for cryptos’ widespread adoption is that they offer an anonymous gambling experience, facilitate instant transactions and provide more security than other payment methods.
In addition, with the privacy provided by blockchain technology, people living in countries that prohibit online casino gaming can play anonymously from their homelands. All they need is to register at an offshore casino website built on blockchain technology and use your ewallet casino for payment.
Conclusion
There are strong indications that the online casino industry will continue to expand beyond the statistics described in this article. Given the trends in the industry, online casino gaming is going to be around for a long while. One way to stay abreast of this evolution is to look at statistics about the industry’s revenue generation, expansion, and the players’ habits.
