Last Updated on 16/01/2022 by tdh.us.hrdk
The concept of gambling dates back to the Roman Empire, and it has evolved since then. It’s one of the world’s most appealing industries. Gambling over the internet is gaining a lot of traction and acceptance. Gambling brings in a lot of money, and it’s not going away anytime soon. The following statistics cover topics such as gambling history, online trends, licencing, virtual reality casino games, and more.
History associated with gambling
- Gambling can be traced back to the Roman Empire. It became popular in modern times as a result of games like poker, blackjack, and roulette. Nothing, however, can match the current popularity of online gaming.
- In 1994, the first online casino was established.
- When the Free Trade and Processing Act of 1994 was established in Antigua and Barbuda, the first online casino company, Microgaming, was founded.
- In 1996, the first internet sports website was founded.
- Intertops was the first online sportsbook, and there were over 200 online casinos in 1997.
- By the end of 1997, there were over 200 online gambling sites spread around the globe, generating at least $1 billion in annual income.
- Planet Poker was the first online poker service, launching in 1998.
- Chris “Jesus” Ferguson, a six-time World Series of Poker (WSOP) champion, was one of the first poker players to notice him.
- In the early 2000s, the first mobile internet casinos were installed on the initial generation of Nokia phones.
- However, as many online gaming statistics demonstrate, the business did not witness substantial expansion until iOS and Android were released.
- The App Store and Google Play Store dramatically altered the mobile gambling landscape.
General overview of the gambling market
- £5.9bn The gaming industry’s total gross gambling yield (GGY) in the United Kingdom (April to September 2020)
- £4.0bn The gaming industry’s total gross gambling yield (GGY) in the United Kingdom (excluding lotteries) (From April to September of 2020)
- 9,036 Total number of premises in the United Kingdom (as of September 2020) (10.8 percent decrease from March 2020)
- 6,735 Total number of betting shops in the United Kingdom (as of September 2020) (12.3 percent decrease from March 2020)
- £470.0m Total GGY (April to September 2020) for gaming machines in the United Kingdom (excludes those requiring only a local authority permit)
- £396.8m In Great Britain, the total GGY for category B3 machinery is (April to September 2020)
- £3.1bn Total GGY in the Remote Betting, Bingo, and Casino Industries (April to September 2020)
- Total GGY for non-remote betting (including machines) is £629.3 million (April to September 2020)
- Total GGY for non-remote bingo (including machines) is £92.0 million (April to September 2020)
- Total GGY for Non-remote Casino (including machines): £67.0 million (April to September 2020)
- Large society lotteries have donated £196.8 million to worthy organisations (April to September 2020)
- £775.1m The National Lottery makes charitable contributions (April to September 2020)
- In 2019, the global casino and internet gambling industry was predicted to be worth around 262 billion dollars, up over 13 million dollars from the previous year. (According to Statista 2021)
- The coronavirus pandemic, on the other hand, was expected to cause a 13.4% drop in the sector’s market value by 2020. (According to Statista 2021)
- Historic Market for Online Gambling, $ Billion, 2015-2020
- 2015-2020, 2020-2025F, 2030F, $ Billion, Global Online Gambling Market, Split By Region, Historic and Forecast
- 2015-2020, 2020-2025F, 2030F, $ Billion, Global Online Gambling Market, Split By Country, Historic and Forecast
- In 2026, the value of the online gambling sector is predicted to reach $100 billion.
- The revenue from online gaming is expected to reach $66.67 billion in 2020.
- 96 percent of internet gamblers prefer to play from the comfort of their own homes.
- Covid-19 influenced 64% of participants to increase their time and money spent on online gambling.
- On average, an Australian spends $1,200 per year on online gambling.
- At least once in their lives, 85 percent of Americans admitted to gambling.
- Women are 31% more likely than men to develop issues as a result of online casino gambling.
- A gambling addiction affects over ten million Americans.
- In the United Kingdom, those aged 18 to 24 gamble the most.
- Females make up about 57 percent of internet gamblers in the United States.
The current state of the online gambling industry
- Grandview Research predicts that the market would reach $127.3 billion by 2027, with a CAGR of 11.5 percent.
- The large growth forecast is based on the expanding popularity of online sportsbooks and online casinos’ freemium business model, which entices players with no deposit bonuses.
- The American Gaming Association (AGA) says that there are approximately 2800 active gaming websites offering bingo, lottery, poker, and slot machines at the time of writing.
- The global online gambling market is expected to reach $66.7 billion by 2020, with Canada, the United States, and Europe accounting for the majority of the market;
- Artificial Intelligence and Chatbots are critical to the industry’s growth;
- By 2026, the global online gambling market is predicted to double in size; according to recent surveys, 96 percent of online gamblers do it from their homes.
- Soon, online casinos will supplant land-based casinos, replacing them with innovative virtual environments that simulate the same experience from the comfort of your own home.
- Trends in online casinos that are on the rise- Gambling companies may now increase their reach and improve their customer experience thanks to technological improvements.
- The gaming industry is now attempting to improve the gambling experience by blurring the distinctions between reality and virtual reality.
- Another issue that operators are concerned about is the fact that not all players are completely safe when gaming online.
- Traditional banking systems are being surpassed by cryptocurrency payments.
- Ethereum, Bitcoin, and other cryptocurrencies are swiftly becoming a common payment option that most gamblers would prefer to use over e-wallets due to the benefits they provide, which include:
- Your online transaction activity won’t be disclosed to third parties thanks to crypto, so you’ll be safer against scammers and hackers.
Having a gaming license is more important than ever
- Internet gambling was still in its infancy twenty years ago. (2021)
- Scamming players nowadays can result in a permanent suspension or possibly jail time.
- There are dozens of organisations in charge of regulating gambling platforms and giving licences, as well as testing organisations that check whether the operator tampered with the game’s algorithm.
- The Malta Gaming Authority (MGA) is a worldwide licence that is more expensive but provides wider coverage, allowing the casino to reach out to most middle and high-income countries.
- Curacao Gaming License – Although the Curacao licence is the cheapest on the market, it rarely adds to the casino’s reliability. That’s because they’ve had their reputation tarnished in the past by media scandals. Nonetheless, experts advocate the Curacao licence to small businesses that want to avoid paying gambling taxes and don’t have much time to wait.
- The UK Gambling Commission (UKGC) is the most stringent casino regulator in the world, with a long list of requirements for operators. Nonetheless, because the United Kingdom is a high-end gaming market, the investment will swiftly pay off;
- Kahnawake Gaming Commission – The Kahnawake tribe was the first to grant gambling licences in Canada. Their customer service isn’t great, but the pricing is reasonable, therefore smaller businesses opt for this licence when they’re just starting out.
- Before engaging in actual commerce, check the website’s licencing legalities.
- Also, see if they’re under the scrutiny of a Random Number Generator testing company like eCOGRA. This way, you can be sure that you’re playing in a secure environment and that you won’t be deceived.
Virtual Reality and Augmented Reality casino games are around the corner
- In the gaming industry, virtual reality and augmented reality are projected to be the next big thing.
- NetEnt and Microgaming, for example, have declared that they are already working on various VR and AR products, including their popular slot Gonzo’s Quest.
- Virtual Reality is a fantastic technology, but based on what we’ve seen so far, we expect it to have a significant impact on our gaming habits and forever alter how we use online casinos.
Gambling restrictions will soon become obsolete
- Globalization, according to sociologists, will soon reach a tipping point.
- The fundamental reason that globalisation is possible on such a huge scale is because of technology.
- Players from prohibited countries may already participate in the action and play casino games in a licenced environment thanks to cryptocurrency and off-shore gambling sites.
- Elon Musk’s Starlink will also help to the global internet movement by allowing online gambling to be accessed from anywhere on the planet.
Gambling problems and risk statistics
- While it’s fun to play casino games, it’s also vital to note that it might lead to compulsive behaviour.
- During the shutdown, over 64% of casino users increased their online gambling frequency — More gamblers have joined the online casino frenzy as a result of the shutdown, resulting in a tremendous boost in revenue for the operators and exposing more people to addicted gambling behaviour.
- Despite the fact that legalisation has begun in the United States, 16 out of 50 states, including Washington, Texas, Utah, and Wyoming, have already stated their opposition to legalising gambling or even approving a sports betting bill.
- People aged 18 to 24 are at the greatest risk of becoming problem gamblers — Alcohol consumption among young individuals and gambling addiction have been linked by psychologists.
- This age group appears to be more susceptible to obsessive behaviour, making them more likely to become addicts in the long run.
- More over a quarter of internet gamblers said they lose money and rarely win consistently at the casino – While most people are aware that gambling is not a consistent source of income, many gamblers are unaware that it might lead to substantial financial difficulties.
- According to the Money and Mental Health Policy Institute, approximately 24% of all casino players have major money issues as a result of their gambling.
- More than ten million Americans are gambling addicts — Despite the fact that gambling is not allowed everywhere, it is already causing harm to society in the United States.
- Casual gambling is the biggest source of long-term addiction, according to figures from a treatment centre.
- Due to online casino gaming, women are 31 percent more likely to develop hazardous behaviour.
The industry’s expansion is being fueled by advancements in gambling technology. With speedier transfers and low-cost money, an increasing number of people are trying their luck at the games. This also brings up security concerns that game creators and casino owners must keep an eye on. As a result, massive investments are made in the development and installation of security systems.