Since the outbreak of the Coronavirus pandemic, gambling activities online, like other aspects of life, have also seen a major transformation and growth, making online gambling the fastest growing activity in the betting world for 2021 and 2022. The increasing number of smartphone users and easy accessibility to high-speed Internet have paved an impeccable road for a better online gaming experience, resulting in increased growth heading into 2022.
A recent report of Million Insights reveals that gambling over the Internet is believed to enjoy a worth of $127.3 billion by 2027, with a compound annual growth rate CAGR of 11.5% from 2020 to 2027. The reason for this drastic evolution is a conveniently available freemium model in gambling and easy accessibility through any smartphone or laptop model in 2022.
Breakdown Of Global Gambling Highlights
Before exploring the best online casino in California and other states for 2022, let's have a look at a simplified view of the bigger picture that got us to where we are now.
● Asia Pacific – has the biggest influence over Internet gambling.
● Western Europe, North American, and other regions follow the above gambling giant.
● Eastern Europe and the Asia Pacific – fastest growing regions with an expected CAGR growth of 16.3% and 12.5%, respectively.
● Western Europe and Africa – next on the list. Both have a predicted casino growth rate of a CAGR of 9.3%.
The gambling market worldwide is soaring magnificently, especially as the consumers shift to online platforms after the new lifestyle that the pandemic has enforced in 2021 and 2022.
The prevailing trend of web-based gambling is about $59 billion, which is predicted to double its size and reach or extend above $92.9 billion by 2023. The country-wise analysis revealed China and the US as the biggest participants in online gambling.
Statistics For Online Gambling
Approximately 26% of the total global masses are associated with betting, which makes up to 1.6 billion individuals worldwide and 4.2 billion individuals that bet at least one time each year. A UK study for web-based betting and segment measurements infer that 17% of individuals prefer to enjoy gambling online, which generates up to £5.3 billion in revenue from the online market only.
For the US market in 2016, 3% out of 4.2 billion people were seen involved in online gambling. There has been an increase in this number as in 2018, revenue for the US gambling market is recorded at $306.5 billion. The recorded annual gambling profit online for California has been $7 billion. With the rising online gambling craze, California has some really interesting casinos to offer. As there are no specific stringent laws that state implies online gambling is turning eyes anywhere it is discussed.
Market Overview
The study conducted by Lund University in Sweden found that lockdown restrictions on sports events switched people to the better and safer alternative of online gambling. To bridge the financial losses and escape the psychological stress in the boring extended time of lockdowns, people found solace in the online world.
The forecast period of 2021-2026 is expected to undergo the fastest shift to online betting. With convenient cashless payment methods during games and a speedy surge in the volume of female gamblers are plausible to have a promising effect on the gambling market in the forecast period.
Reasons for better bettor experience include Advanced Artificial Intelligence, improved Chatbots, and smart machine learning innovations. The companies are now contemplating bringing more sport betting options in the online world after the United States Supreme Court authorized sports betting in 2018. However, tough measures to ensure players' safety might inhibit the market advancement a bit.
Leading Market Trends
Football Rules The Betting World
Sport is a prominent category in online betting, with football (soccer in the United States) topping the list uncontested. The FIFA World Cup and European Championships are popular events subject to online betting. A lot of gambling platforms and associations are implementing smart marketing ideas for strategic expansion and attracting more players, such as sponsoring famous teams.
In this exceptionally competitive environment, organizations are augmenting their platforms with attractive features to cater to major customer demands. For example, the pioneer of online sports betting across Continental Europe, bwin sponsored the football clubs such as Real Madrid and AC Milan, which gave them significant exposure and recognition globally.
The Rise Of Legalization In North America
The legislative framework of online betting in the United States authorizes the licensed bookmakers of Nevada, Pennsylvania, and New Jersey to work lawfully. This is because only these three states are legally allowed to conduct online wagering and gambling activities.
Moving forward, Pennsylvania is the fourth-biggest state on the list that has legalized online gambling. From online casinos to online poker, sports betting and a lot more fun can be enjoyed under the new law. The Pennsylvania Gaming Control Board regulates casino games, including roulette, blackjack, poker, horse race betting, and fantasy betting, whereas Pennsylvania Lottery governs the lotteries.
According to the data of the American Gaming Association, Pennsylvania succeeded in attaining the second position in the revenue list after Nevada. It based the total gross gaming revenue of $3226.92 million in 2017. The largest immaculate online gambling market of New Jersey is also rigorously regulated by authorities. The state residents can access numerous sportsbooks and live sports betting apps for online wagering.
For Canada, the online gambling market is largely unregulated by the government. In contrast, Mexico is considering bringing the country's gambling activities under strict legal laws to promote healthier gambling activities in alignment with the rest of the nation. These standardizations of online gambling laws in North America and its neighboring regions are determined to further expand the industry's horizon.
Escalated Rivalry To Oversee The Market
There is throat-cutting competition among the gambling community, but there is no distinct power of dominance since you will find both regional and international players here. Most of the domestic market is monopolized by European firms and ascertains the monopolies in their respective regions.
The key players here include:
● Flutter Entertainment PLC
● Entain (PLC)
● BETSSON AB
● Bet365
● Kindred Group PLC
● The Stars Group
Some enterprises partially depend on software providers such as Playtech for technical problems. The key players of the United States betting market are 888 Holdings PLC, William Hill PLC, Caesars Entertainment Corporation, and others.
Mega giants prefer mergers and acquisitions, partnerships, and innovative solutions to make a notable mark in the international arena. This allows them to enhance their company portfolio to meet the majority of the consumers' needs.
The most preferred strategies, such as mergers and acquisitions, are followed by expansion, innovation, investment, and R&D to develop a pleasant gaming experience. These strategic partnerships allow enterprises to extend their reach and strengthen prospect opportunities.
To further rule the limelight, players prioritize quality content, best deals, user-friendly experience, personalized payoffs, brand equity, and access to numerous platforms.
An In-Depth Unfiltered Insight Into The Gambling Industry Worldwide Top Gambling Centers
Gambling is an arena of smart strategies and pure luck. Winning and losing purely depend on the odds that sum up in the winner's favor. Similarly, where some players top the list of winners, we bring you countries that have succeeded to rise higher than others in respect to the revenues generated and gambling participants.
The recent times are hailing the greatness of the Gambling Gurus: US, UK, Australia, Canada, and Macau with their effective regulations, advancements, and smart marketing. So, what turns these countries into the king of the gambling kingdom? Here is a detailed view of these countries' prosperity and strategies.
5 Fastest Growing Gambling Markets Worldwide
1. Macau – The Gambling Haven
Do you know that gambling is considered an unlawful affair in the mainland of China? But Macau still outperforms others to become the gambling paradise. Gambling generates almost 50% of the country's revenue, with $38 billion in 2018 only. Macau has earned its title as the gambling capital of the world by the huge size of its gambling activities. The largest casino floor of the world is found in Macau, which is 376,000 square feet allowing 640 gaming tables and over 1760 slots.
The money gambled in Macau's casino is more than anywhere else across the globe. The Macau Gaming Inspection and Coordination Bureau (DICJ) controls gambling activities in the country. The DICJ also supports the Chief Executive of Macau in establishing financial strategies for the city.
Macau hosts 38 casinos in its land, consisting of prominent programs from global players like Sands and Wynn and Melco Crown. While Macau is not completely governed through Beijing, it has to act per the law to earn its revenue through off gambling activities.
However, the negative movement in the Gross Gaming Revenue (GGR) has been recorded for recent years. The reason: extreme check on the monetary progression from China to Macau. Many small casinos are struggling, but the mass market entertainment might observe a transformation in Macau's destiny.
2. The United States Of America
The worth of the US gambling industry is $261 billion and offers 1.8 million jobs, which are mostly in Nevada or gambling legalized states. The famous games of the region include poker, casinos, daily fantasy sports, bingo, sports betting, lottery, and horse racing.
Annual Gambling Earning
In 2016 the gross revenue of the country amounted to $158.54 billion, with an increase up to $161.24 in 2018. Though, in 2017, Pari-Mutuel betting contributed to the highest betting share. This later got shifted to the Bookmaking pocketing the $430 million revenue alone.
The legalized casinos for online gambling are either operated on tribal reserves or privately. The State lotteries are also found in most US states. The first states that regularized online gaming were Nevada, New Jersey, and Delaware in 2013. Nevada has the majority of online poker sites, whereas Delaware and New Jersey caters to the legal online casinos and poker sites. But sports betting is still outlawed throughout the country.
The casino gaming revenue has been on the rise for the past years, according to UNLV.
Governing The Online Gambling
The law to legalize sports betting is challenged in the court as DFS (Daily Fantasy Sports) becomes popular in the region. But for now, the activity is banned across the state. Lotteries, casinos, and sportsbooks are governed by state laws and regulations. Land-based casinos in New Jersey and Nevada are legal, with an allowance of some legitimate online gambling as well.
When we talk about thriving centers, then California and Florida have no competition. But both have not legalized poker yet. Lastly, Pennsylvania has become the land of gambling, with all restrictions removed.
When you say casino, Las Vegas is sure to come to your mind. Nevada's highest revenue comes from non-other than Las Vegas.
3. The United Kingdom
The upswing of Internet wagering is slow and steady in the UK as the country initiates its legalization process. The British gambling trade generated £14.4 billion in 2018, with an estimated figure of 32% of the population that gamble weekly. The popular games of the region are poker, national lottery, bingo, casino, football, and horse racing bets.
The UK Gambling Commission has been regulating the gambling industry since 2005. The UK has proved its competency in the gambling arena through its improving statistics. The UK has some of the lowest limitations on gambling with permission to freely gamble real money on apps and online gambling websites.
Online and mobile betting resulted in the Gross Gaming Yield (GGY) of £710.19 million in 2011-12. For 2014-15 this number rises to £3.6 billion due to new rules and regulations. The law also permits citizens over 18 to gamble online or at land-based casinos freely in 2022.
4. Australia
When 80% of a country's total population gamble, the yearly gambling revenue is unsurprisingly easy to reach the pinnacle of about $18 billion. For elevated user ordeal, Australia is always striving to bring innovative ideas to the table.
Australia has been enjoying a predominant position throughout the decade. Asian tourists in Australia prefer live casinos and a thriving online economy. In Western Australia, pokies are only restricted to casinos, but for Melbourne and Sydney, pokies can be encountered in lodges and leagues. Pokies or poker machines dominate the region.
Recently the data has revealed that 2.9 million people above 28 played pokie machines with 16% of the adult population. At the same time, 42% of people played only once a week. With the rise of sports betting, State-run TAB outlets allow Australians to gamble over numerous sports.
Governing The Online Gambling
The States are independent to let local operators house poker machines. Victoria, Tabcorp, and Tatts have a duopoly of lottery and live sports betting. The country's IGA Interactive Gambling Act of 2001 was updated recently. Some online sports betting sites operate in the country with licenses in Northern Territory.
Unfortunately, the online casinos are banned, but the offshore online casinos give access to Aussies to register and play. The majority of the gambling population consists of people from 30 to 49 years. Along with a sudden rise of the women population from just 7.2% to 45. 8%.
5. Canada
The yearly revenue of Canada from gambling sums up to CA $27.3 billion. The industry has seen a surge in growth from 4.9% in 2017 and is still expanding, with Canada being the trending hot seat to cater to numerous online gambling providers and platforms. Its liberal approach towards gambling has resulted in great benefits for the country.
Canada is the leading gambling region of the world, thanks to its innovative solutions and accurate regulations. The Kahnawake Gaming Commission (KGC) outside Montreal is responsible for licensing the online casinos and poker sites.
General Data And Statistics
• 34,955 gaming areas in the Canadian Gambling industry
• Frequency of people visiting the casinos – 2014 (53% once a year, 17% once every 3 to 5 months, and 29% at least once a month)
Average spend per Canadian player per casino visit:
• For card games such as Poker = CA$53 ($40)
• Table games like Roulette or Craps = CA$50 ($38)
• Card games like Blackjack = CA$50 ($38)
• Play slots = CA$50 ($38)
• Casino bar = CA$25 ($19)
Emerging Talent Of The Gambling World
Following the top centers, the competent countries are also striving to reach the top positions for 2022. Here is a glimpse of some interesting figures from around the works related to the gambling industry for a better view of the picture:
• Gambling is relatively new for the Singapore landscape but still, 44% of people aged 18 and above participated in some type of gambling activity as of 2014.
• The online gambling sites of Spain registered about 3.9 million players in 2014.
• Germany ranks 9th for the most wins and scores for gambling games and big bets.
• Macau is one of the tremendous centers of live casinos visited by 32.5 million foreigners in 2014 although this Chinese gambling go-to is facing increased competition and potential new regulations.
• Japanese expenses mounted $31 billion in 2013 on gambling.
• The UK has the largest game player share of 58%.
The Fate And Fortune Of Gambling Activities
The online global market is all about rise and expansion in recent times going into 2022. The year 2017 was a huge milestone for the gambling industry when online gambling generated $4.4 billion. Analysts further predict that it will reach $4.63 billion in the coming times, with an increase of 5% CAGR. On the other hand, there were 173 million gamers in 2015 worldwide, which has exploded in 2022.
North America enjoys the position of biggest online casino market, reaching 1.7 billion dollars fooled by Asia and Europe. In comparison, 37% of PC and mobile players play casino games. Popular ones are bingo, blackjack, roulette, poker, slots, and baccarat.
Casino Conclusion
Statistics reflect that the eventual fate of the gambling business is magnificent. The masses embarking on this adventurous journey are splendid. Although some regions around the world have to face slower growth due to regulatory issues, the overall picture is still promising for betting businesses.
As the progression in innovation becomes a reality, the yearly earnings of the gambling industry are also doubling up. Portable clubs, live games, AR gaming, and virtual reality betting have made the unthinkable possible. So, whether you are thinking of playing, operating, or numbers geek, benefit from the world's rapidly evolving gambling industry in 2022.
