Gambling is one of the most lucrative industries in the world and it owes much of it to the growth of its online sector. The development of the internet and technological breakthroughs made the internet available 24/7 on our smartphones. The gambling sector saw an opportunity to take advantage of the mobile-nirvana and they provided the players with convenience and availability.
Nowadays, people can place their bets or gamble online without having to lose time to go to the land-based casino or mortar-and-brick sportsbooks. However, the online sector is a large one with multiple subsectors such as online casino, sports betting, lottery, fantasy sports and many more. Let’s go over the basic ones.
Online casinos provide their users with a lot of gaming choices from slots to roulette and craps, just like in regular land-based casinos. Some provide free games if a player signs up, so you can play blackjack card game online in Canada. Additionally, there is a lot of regulations for online casinos but the profitability is truly high which is why this sector is constantly upgrading. Online casinos lease their games from software providers which is why top operators will commonly feature the same games that come from the best software providers.
Sports betting is taking over the world because there are a lot of sports and leagues in the world. Additionally, casino games are based on luck whilst sports require skill and provide better odds of success. Sports enthusiast love to bet because it takes them closer to the sport experience. The online market is growing because the experience of going to a live sportsbook is not the same as the experience of going to a land-based casino where there is plenty of excitement.
Poker is another game that requires a lot of skill and online poker is available for both amateurs as well as pros. Some people don’t like casino games but want to play poker and only poker which is why online poker sites have their consistent fair share of the market.
There are other sectors such as bingo, lottery, and fantasy sports worth mentioning too. Fantasy sports sector is rising from year to year.
It is evident that the future of online gambling lies largely in the mobile sector and the markets in Asia and America are projected to rise. The online market size went from $20 to $50 billion from 2009 to 2018. The market is projected to further rise to almost $100 billion by 2024.