The online gambling industry is growing at much repaid speed; it is expected to grow by US$114.21 billion by 2020-2024. Players are attracted to free features provided by online casinos. These give them the real taste of gambling without staking real money. Once they get hold of the basics and learn the rules of the game, they play casino games with real money. This feature helps online gambling web sites to allure new customers and propel the growth of the internet based gambling industry. Many websites have started accepting cryptocurrency like Bitcoin, which also has a positive impact on the industry.
Many online gambling websites encourage the use of Bitcoin as peer to peer payment over the internet. Use of Bitcoin has many advantages over normal currency when used for funding your bankroll in an online gambling web site. Since the fee of transfer of this cryptocurrency is relatively low, you can use it to fund overseas bankroll. Furthermore, a transaction with Bitcoin is both safe and quick. Some online casinos have started offering Bitcoin gambling, which is estimated to rise to boost the overall gambling industry in the coming days.
Market segmentation
The online gambling industry is segmented by type;(betting, lottery, casino), device( desktop computers and Smartphone), and topography ( South America, North America, Europe, APAC(Asia Pacific region), and EMEA(Europe, middle east and Africa ).The North American region generates the largest revenue as in 2019, trail by APAC, Europe, South America, and MEA. APAC is expected to witness the largest growth in the forecasted time due to new casinos and lottery web sites, streamlining and amendment of existing law to make online gambling legalized and more transparent. Ts911 is a premier online casino website in this region and is expected to reap the benefits of the growing market.
Modern technology
The online gambling industry is the fastest growing industry and adopting the latest technology like artificial intelligence, Chabot, and machine learning at lightning speed. The number of female participants in online casinos is also increasing considerably, which is also a factor for the ingoing flourish of the industry. Sports betting was endorsed in the US in the year 2018 by the verdict of the Supreme Court of the country. This is also a key factor for the expansion of sports betting in online casinos. More scope of improvement of transparent laws regarding online casino betting is present.
Sport betting
Sports betting becomes predominant during major sports events like; European championship and the FIFA world cup. Horse racing and greyhound racing are other popular forms of sports betting. Many premier online sport betting companies are endorsing different teams in different sports as a part of their marketing strategy. Many premier online casinos are making a strategy for mergers to increase profitability and market share. Leading online casinos are trying to develop in house software apart from procuring from renowned vendors like Microgaming. Many online casinos are heavily investing in research and development for software to reduce their dependence on vendors for software. Online gambling is generating much higher revenue than its land-based counterpart. Online marketing and enthusiasm among young players have given a thrust to the market growth.
