The future of the gambling industry is mobile and here’s why
Gambling has always been a favorite activity of many people around the world and surely, this industry has come a long way since it started in the early days. While land casinos are still appealing to many, more and more gamblers are turning to online casinos and bookies to place their bets. This is especially now that we are dealing with a pandemic. Mobile gambling is becoming more popular than ever.
2020 has been quite a year for the gambling industry, especially for the sports betting sector as there weren’t many sports events when the pandemic began. Sports betting did suffer for a few months but fortunately, sports was still able to make a comeback in the same year. With that, people were excitedly looking up Online Football Odds when the EPL and the Championship League returned.
Now, the pandemic has also greatly impacted how people gamble. Land casinos were also forced to temporarily close their doors to help contain the virus. Because of that, people had to turn to online casinos to be able to continue their favorite activity. Many online casino operators did report that they experienced a surge in traffic when the health crisis started.
Mobile Gambling Continues to Grow
While many turned to online gambling in the last year because of the on-going health crisis, it’s still worth pointing out that the online gambling industry has been steadily growing even before 2020. This is particularly with the mobile gambling sector.
In the United States alone, the mobile gambling market is estimated to be valued at 21.4 billion US dollars. That accounts for a 26.91 percent share in the global market. It’s easy to understand why more and more people are turning to mobile gambling. It’s simply convenient to gamble with a mobile device than to travel to land casinos and play.
ResearhAndMarkets.com recently published a report on mobile gambling and they predict that the global gambling market will reach 250.4 billion US dollars of value by 2027 with a CAGR of 17.8 percent from this year until 2027.
Based on the research, China’s mobile gambling market size is also forecasted to grow up top 59.1 Billion US dollars by 2027 with a CAGR of 22.9 percent. Aside from China, Japan, and Canada’s mobile gambling market is also forecasted to grow at 12.8 percent and 15.7 percent respectively. Meanwhile, Europe and Germany’s market is also forecasted to grow at approximately 14 percent CAGR.
Why Do People Gamble with their Mobile Devices Anyway?
There are a few great reasons why more and more people are choosing to gamble online and with their mobile devices. Here are some great reasons why.
- Accessibility
This is one of the reasons why gambling is now convenient for many. People no longer need to travel to land casinos and sportsbooks to gamble. They can easily play a casino game whether they are at home or even on the road. As long as they are connected to the internet, they can gamble on the go.
- Smartphones are becoming more powerful than ever
What’s also great about gambling with mobile is that quality isn’t sacrificed. Smartphones are becoming powerful and even less expensive. These mobile devices can let you play any game that you can even play VR games too. Gamblers can even enjoy live dealer games with their mobile devices.
- Payment Solutions
An important factor that gamblers consider when they play online is how they can make a deposit to their account and also withdraw their winnings. The use of credit and debit cards remains to be a popular option nowadays. However, there are payment solutions or platforms that can only be accessed with a mobile device. Many prefer this type of payment solution as it only takes a few taps to make a transaction.
Conclusion
With the growth of the mobile gambling sector, many are saying that this is the future of the gambling industry. It just makes sense because people nowadays are becoming more interested in doing different activities when and where it is most convenient for them. Mobile technology has simply made gambling easier to access.
Currently, there are already 4 billion smartphone users worldwide and this number is still even expected to grow in the next few years. It just makes perfect sense as to why many industries are now focusing on the mobile market. This is because they can easily reach many people if they make products that mobile users can enjoy. The gambling industry is not exempted from this as many companies are now developing and have already released mobile apps for their users.
