Online Gambling Market growth predicted at over 16% through 2026: Global Market Insights, Inc.

Global Market Insights, Inc. predicts that the online gambling market will grow by more than 16% between 2026 and 2026

According to the most recent reportOnline Gambling Market Type (Betting [Boxing & UFC] and Horse Racing, Formula1, Football, Formula1, Tennis], Casino [Baccarat Blackjack Roulette, Slots], Poker]), Device Types (Desktop, Tablet), Regional Outlook, Price Trends. Competitive Market Share & Forecast 2026

Global Market Insights, Inc. predicts that online gambling’s market value will exceed $160 billion by 2026. Market demand will rise due to increased adoption of smartphones and improved internet infrastructure.

The online gambling market is seeing a rapid increase in revenue due to the rapid development of mobile applications and internet infrastructure. Online gamblers have the ability to interact with multiple users at once via fast internet connectivity. This has allowed for significant increases in the number of players and the time they spend playing online gambling games. Annenberg Public Policy Center (APPC) reports that 20% of college students play at least one game per month online poker.

Online poker has become a popular choice for young people. Poker is growing in popularity in the U.S. and in other European countries like China and the UK. In India, it will gain tremendous traction over the next years. Rummy is a well-known card game in global gambling. Online platforms have been created to allow players to compete from around the globe due to Rummy’s popularity. One factor that has contributed to the popularity of online poker is the acceptance of deposits via online wallets, credit card, and virtual currency.

Online gambling is being transformed by the increase in internet users via smartphones. Web ARChive, WARC estimates that approximately two billion people accessed internet via smartphones as of January 2019. These users use their smartphones to access the internet and play real money gambling games. To attract new customers to their market, online gambling services providers are using social media platforms such as Instagram, YouTube, Facebook.

The COVID-19 epidemic played a key role in Asia Pacific’s acceptance of online gambling. Because of the strict lockdowns imposed on governments, the ongoing crisis has encouraged the adoption of online gambling by consumers. AlphaBeta Australia Pty Ltd., an Australian credit agency, conducted a joint study and found that online gambling was up 67% in April 2020 following the closure of all Australian non-essential services. Additionally, the shutdown of all non-essential services in Australia has led to an increase in Indian players playing online casino.

The Stars Group and 888 Holdings PLC. are some of the major players in the online gambling market. Global expansion is a key strategy for major companies to expand their market share. Bet365, for instance, has signed a long-term office lease agreement to rent 19,000 square feet in Marlton, New Jersey. This move will allow the company to expand its U.S. presence. How to space in the European lottery market