Online gambling Industry will boom by 3.1 billion by 2023

It is no secret that every day there are more and more casinos and that more and more users are encouraged to play. 

This upward trend is largely due to a variety of factors:

First: the digitalization of the world. 

Not only due to the constant leaps and bounds taken by technological progress but also because of the convenience of being able to access from anywhere and at any time. 

In fact, the betting sites we recommend have both native apps for mobile devices and responsive websites.

Second: the pandemic

Believe it or not, the lockdown due to the current COVID-19 pandemic has led many people to turn to online casinos and bookmakers to satisfy their needs. 

Some have done so to relieve the stress of being cooped up 24 hours a day at home. Others, still, have turned to it as a source of income after losing their jobs. 

So, they have taken it as a kind of financial haven, where they can not only try to win money but also have fun without leaving home and risk catching the virus. 

That, without counting that you can register at online casinos and claim sign-up bonuses without any problem.

And third: it’s a lucrative business

Whether you go in as a bettor, or invest big and find out everything you need to know to set up your own online casino and gambling site, it has been statistically proven to be one of the most lucrative businesses to date.

Despite the confinement and the fact that many companies have gone bankrupt, the online gambling industry has seen explosive and steady growth that has encouraged scholars to study the background behind online gambling.

For example, studies conducted throughout 2020 have captured that there was an increase of more than 51% of new users to online gambling sites, and that of this percentage, more than 40% invested and made significant profits in sports betting and gaming. 

On the other hand, it should be noted that regulations in this area are progressing very slowly around the world. Many countries have not yet regulated online gambling, which opens the door for players from certain countries to enjoy international casinos.

Although some seem to be against it, the sustained growth of the industry over the last few years is only an indication that it will continue to grow in the years to come. 

In fact, in Europe, between 2020 and so far in 2022, the industry has reported a revenue of 30.92 billion US dollars. While in Asian countries, the figure rises to 2.9 billion annually. 

So, for the period 2022-2023, the figure is expected to increase by at least 47%. And that is taking into account factors such as future restrictions, the lifting of pandemic restrictions, and even migration to other technological activities. So that percentage could be even higher.