Global Gambling Industry Expected To Reach Annual 100 Billion Profit By 2026
The global gambling industry is one that never appears to show any sign of slowing down. Even when most of the world took a downward turn, it quickly got itself back on track and then posted some serious numbers on the profit front. While current profits are well into their billions, it’s thought that by 2026, we could be talking around one hundred billion worth.
A large driving force behind revenue and profit growth is how quickly market leading brands such as PartyCasino, are raising their game. This online casino operator, owned by Entain, has conquered the gaming sector in many respects. They’ve established themselves as a popular choice with punters. And now they have extended their service to cover sports betting. It’s only going to see their profits skyrocket, as they have now become a one-stop shop for gamblers, be it if they want to enjoy some gaming or if they want to place bets on various sports.
If you were under any illusion about how quickly the gambling market has grown and by how much, it’s worth noting that in 2019, a report carried out found the estimated value to be in the $50 million bracket. And fast forward seven years, and it will likely have at least doubled. It’s pretty remarkable when you think about it, but not surprising, as gambling is certainly a sector that embraces and incorporates the new, be it technology or trends.
Another reason for the continued rapid growth where gambling is concerned is accessibility. More punters than ever before can get involved with the action, and this is because of the phenomenon that is mobile betting and gaming. Players can be up and running, placing a bet on the football or spinning the reels of their favourite video slot with a couple of taps of their smartphone’s screen. They no longer have to visit a betting shop or head off to a land-based casino. And gambling on mobile is also available 24/7, making it even more convenient and accessible.
If gambling is to hit or surpass the $100 billion mark, the industry pretty much has to carry on doing what it has got it to this point already. We mentioned earlier how the sector is one that is welcoming of the latest tech and trends, and it needs this to continue being the case, or things could stall. We’ve seen how much the addition of live casino has done for the industry as a whole, and now it could be virtual reality that comes to the fore to breathe fresh life into proceedings.
If virtual reality really takes off as many expect, it will not only improve the gambling experience, it will transform it and offer a completely different way to take part in sports betting and online casino gaming. Things like this will catapult gambling further forward, and the $100 billion mark could prove to be a conservative estimate.
