Gambling statistics reportedly influence the wagering decisions of a lot of gamblers. In the words of several experts, it is now a case of “the more you know, the better positioned you are.” That’s the very reason we are bringing the latest global gambling forecasts, as well as market conditions for 2024, in this piece. We’re also throwing in a few insights on what to expect from online gambling in particular. Read on and stay ahead.
Overall 2024 Gambling Market Projection
According to several research sources, studies, and market gurus, the global gambling industry is expected to grow tremendously by 2024. This forecast comes as no surprise since the gambling market has been experiencing steady growth since 2021. Averaging several statistics, the numbers are expected to hit over $28 billion in net revenue increase.
By mode, online gambling is projected to bring about 38.96% of the net growth by 2024. This is due to the growing popularity of online gambling, with users hitting an all-time high this year. Digging further, we’ve found online casinos to be the highest-grossing online gambling types.
Numerous online casino guides and review sites provide valuable insight into the online gaming market. Players often rely on these expert opinions to help them make informed decisions. SlotsJudge is one of such sites that players find beneficial in this regard.
Within its guides, the SlotsJudge Editor-in-Chief Aleksandra Andrishak feature games that attract millions of users all year round. The reviews are based on expertise of the team members with broad understanding of the casino world. A notable mention is Ella Houghton, a Senior Author at SlotsJudge known for her insightful and meticulous reviews.
Experts at SlotsJudge and similar sites agree that online gambling is revolutionising global gambling. By 2024, the online market size is expected to reach a valuation of $107.30 billion, This being a 12% increase of the current market valuation of $95.5 billion. Also, with the increased digitization of most gambling companies, the industry is set to be led by mostly online providers come 2024.
Diving further, Casino gaming and sports betting alone are pitched by several experts to dominate online gambling by 2024.
An Overview of Online Casino Gambling
Casino-style gaming has been on the hike since 2019 with respect to revenue and popularity. Still, the industry is expected to grow by over $4 billion by 2024. So while land-based casinos are still leading in revenue, online casinos are reaching a wider base at a faster rate.
Just for description, a typical online casino is where gamblers wager real money on games of chance like Roulette and Slots. And depending on a random or strategic outcome, you either win or lose money. Also, judging from statistics, the following are the most engaged casino games in the marketplace;
- BlackJack
- Slots (Jackpots and Megaways)
- Poker
- Baccarat
- Keno
- Craps
Projected Most Profitable Gambling Types, 2024
From the revenue forecast we’ve covered so far, sports betting, lottery, and casino gaming are positioned to offer the best returns come 2024. This will be true for both providers and end users. In addition, other models like horse racing and Bingo will offer some decent odds and payouts as well.
Online Gambling Addiction Statistics
As confirmed by several surveys, addiction is one of the biggest regulatory problems with gambling. And with the market growth of online providers, it has become easier than ever to engage in problem gambling. The UK Gambling Commission projected that the net cost of gambling addiction for adults worldwide will approach $30,000 a year, by 2024.
Also, since roughly 50.02% of all slot gamblers have an addiction problem, more online casinos and sportsbooks will partner with responsible gambling commissions come 2024.
Final Words
In summary, the world gambling market is currently at its burgeoning phase and projected to get even bigger through 2024. Taking a look at the entire gambling world as a whole, it has been an upward surge. Even if we are to look at the different sectors like online gambling the story is the same. The gambling industry is estimated to capture more market shares in 2024, thus generating more revenue. This trend has been visible from the online gambling statistics of 2021 and continues to move on in the upward path.
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