The worldwide online gaming market size is expected to reach USD 73.45 billion by 2024 because of rising prevalence gaming across the world. Technological advancements and inclusion of new regulations are expected to improve market demand. Furthermore, growing adoption of tablet computers and smartphones and access to platforms are anticipated to drive the marketplace.
Companies are focusing on creating mobile applications with safe money transfer facilities to ensure punters can easily place their bets online in real time. For instance, companies like Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have cellular applications on various platforms like iOS and Android. Moreover, a variety of nations are currently legalizing gaming. For instance, at December 2016, Japan’s parliament passed a law after holding it for 15 23, to legalize casinos.
In 2016, the sport gambling segment led the market and accounted for at least 40 percent of the revenue. It includes various sports tournaments like basketball, cricket, tennis, and games. For instance, the sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to rising soccer tournaments and cricket leagues. Growing number of people betting on accessibility and such events to software and online gambling websites are anticipated to present considerable growth opportunities for your marketplace.
The online gaming and betting industry is expected to increase at a faster pace due to regulatory environment. Moreover disposable income of consumers and also adoption are increasing earnings of the gambling market. Certain regions are very likely to record slow growth due to stringent government regulations, thus affecting overall revenue generation.
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