Growth factors in the global gambling market between 2023 and 2027

global gambling

The global gambling market grew from US$449.04 billion in 2021 to US$702.45 billion in 2022. These figures represent a compound annual growth rate (CAGR) of 56.4%. The good news is set to continue with expected growth to US$765.89 billion by 2027.

There are various factors involved in the increase in the value of the global gambling market. We will examine the most important ones.

cryptocurrency in the Metaverse

Adopting trusted localized payment gateways

When people spend money online, they want to do so using the payment methods they trust. With this in mind, online casino operators have adopted a greater number of safe and secure payment gateways, such as wallets like Skrill and Neteller. They have also begun to offer localized payment options for customers in different countries.

In Canada, Interac is a good example of this. Interac was declared a prominent payment system, by the Governor of the Bank of Canada, under the Payment Clearing and Settlement Act, in August 2020. This bank oversight has enhanced Interac’s reputation as a safe and effective payment option. So, it’s no surprise that Interac casino sites have become an increasingly familiar sight as operators seek to provide a more personalized experience for Canadian players.

The growing use of smartphones

More of the world’s population now has access to smartphones. The main reasons for this are the increased availability of cheaper models and wider mobile Internet coverage. The smartphone market in India is the perfect example of the growth that is happening. Revenue from the smartphone market in the country is expected to increase by 7.2% annually between 2023 and 2028. 

The online casino industry in India is a grey market, given that there is no legal domestic market. Despite this, offshore operators thrive, and revenue from online gambling by Indians is set to reach US$0.82bn in 2023. The increased use of smartphones feeds into these figures.

Further employing VR technology

The use of VR technology is still in its infancy in the gambling industry. However, it has started to be used when producing live casino content, which gives people the opportunity to play at tables with live dealers in a virtual environment that resembles the experience of visiting a land-based casino.

Increased use of VR will attract a whole new audience to the gambling market. This new audience will help to increase the market value of the industry in years to come.

Increasing the use blockchain technology

Blockchain casinos are becoming a more familiar sight in the gambling landscape. As players look for an experience that is more transparent, they are attracted to this innovative solution. This increase in users is central to the enhanced value of operators and the industry overall.

Analyzing big data

The use of big data in the gambling industry allows operators to identify geographic and topographic features. They are able to understand who is playing their games and tailor their offering accordingly. Increased personalization and customization attract more customers to the gambling industry and promote growth in its value.

These factors have all played a role in the growth of the global gambling industry and will continue to do so.

Other articles from – –

This image has an empty alt attribute; its file name is Dryer-machine-on-fire.jpg

Mtl Duct Cleaning and dryer vent cleaning answering all your question

Is it possible to get an A for a 5-paragraph essay assignment in 1 hour? We can safely say yes, a student can get an A+ mark if he turns to EduJungles

The growing need for international trade lawyers in emerging markets

Emerging markets are becoming key players in the global economy. Countries like China, India, Brazil, and several African nations are growing at a fast pace. But, they face tricky trade rules and regulations that can be hard to navigate. As a result, there is a bigger need for an international trade lawyer to help these

guide to freebies

Claim your free stuff in the mail: Ultimate guide to freebies

Have you ever wondered how some people score all sorts of free stuff in the mail? Imagine opening your mailbox to find beauty samples, snacks, or even tech gadgets waiting for you. This is not just a dream; it can be your reality. In this ultimate guide, learn how to get freebies, where to find


The ultimate guide to planning a long family staycation in Canada

To guarantee that everyone has an amazing time, careful planning is necessary when organizing a lengthy staycation. Here’s the ultimate guide to planning your family staycation in Canada. Canada, with its vast landscapes, diverse cities, and rich cultural heritage, offers endless possibilities for a memorable family staycation. Whether you’re exploring the stunning natural beauty of

Meal kits

Cost vs. Convenience: Analyzing meal kits and traditional cooking

In this modern world and modern times, convenience often takes priority over cost, especially when it comes to food. Meal kits and traditional cooking represent two different approaches to home dining, and each of them has advantages and disadvantages. Analyzing these methods through the lens of cost and convenience provides insight into why individuals might

Condo renovations

Condo renovations Dos and Don’ts: Expert Tips for a Successful Project

Embarking on a condo renovations journey can be both exhilarating and daunting. Imagine transforming your living space into a stylish haven that reflects your personality and meets your needs. While exciting, the process can be full of challenges and unforeseen hiccups. That’s why we’ve gathered some condo renovation dos and don’ts from the experts to

Terrific Hair

Terrific Hair Means Tamanu – Earth to Body

Curly, straight, thick, thin, kinky or silky, tamanu loves and makes terrific Hair.  And scalps. Nutritionally dense yet gentle, tamanu is an effective and versatile nut oil. It stimulates, helps promote growth. prevents hair loss, reduces scalp itch and irritations and adds a natural sheen! Make tamanu a part of your hair and scalp care

Mtltimes Subscription

The latest on what’s moving Montreal and the world – delivered straight to your inbox