As of 2021, the global online gambling industry is worth around $40 billion. Millions of people have been employed by this industry. It is an important pillar of the global economy. This industry pays billions of dollars in taxes every year.
From 2019 to 2026, it was projected that the online gambling industry would grow by around 10%. That is because of the increasing millennial population. Most millennials tend to gamble online. Also, older individuals are increasingly turning to gambling.
Aggressive advertising of some gambling sites is increasing the user base. Channels of advertising include TV, radio, outdoor advertising, and the internet.
The major casino online gambling markets include the United Kingdom, the United States, China, Singapore, and Thailand. There are many emerging markets in Africa and Asia.
Africa is the fastest-growing market for online casino games. That has been attributed to increasing mobile penetration in the continent.
Emphasis on Mobile
The online gambling industry is increasingly focusing on mobile. That is because the next 1 billion people to access the internet will do so through the phone. Also, most people usually use their smartphones rather than their personal computers to access the internet.
A mobile-first experience is important for any trusted online casino in Singapore. An online casino should have a functional, user-friendly, and aesthetically pleasing smartphone app. Most mobile phone users usually find it convenient to gamble through the app rather than using the mobile browser. Also, it is easier to secure an app since it is the property of the gambling company while the browser is the property of a third-party.
Most industry players are focusing on responsible gambling. That is because of the financial, social, and psychological harms of irresponsible gambling. It has harmed many lives and families. People should only gamble what they are ready to lose. People below 18 years must never gamble.
Online gambling has gone mainstream. The revenue generated by online gambling sites far exceeds that generated by land-based casinos.