The Remarkable Growth of the Online Gambling Industry: Surging to 176 Million Users and Generating a Whopping $95 Billion in Revenue by 2023
Over the past decades, the presence of online gambling has expanded significantly. It gained more popularity yearly and became many players' number one leisure activity. CasinosEnLigne says user and revenue numbers have doubled over the past four years. Let's discuss why online casinos have become such prevalent entertainment today.
The Growth of Online Gambling Over the Past Four Years
Considering only the last four years, they have become very eventful on the world stage. Firstly, the coronavirus epidemic locked many users home, and land-based casinos became unavailable. Then, online gaming establishments came to the rescue and provided various solutions, bonuses, and other activities.
Secondly, social networks are developing at tremendous speed. In this regard, applications or mobile versions of gaming establishments have become especially relevant. Therefore, according to Statista, since 2019, with an income of $45.8B, the online casino industry has reached a value of $95B.
Number of Users and Revenue in 2023
The USA and the UK top the list of countries that have the highest user and revenue indicators. In 2019, US revenue reached $5.2 billion. This value increased by 263%, reaching $19B in 2023. The UK's income will also exceed $12B this year. Australia, Japan, and Germany complete the list of the most profitable countries with indicators of $9.1B, $5.5B, and $5.1B.
As for users, over the past four years, 80 million online casino and bookmaker clients have been added. From 95M in 2019, this value has almost doubled, reaching 176M in 2023. The same countries make up the list of the most people interested in online gambling.
Factors Contributing to Growth
In addition to the fact that external conditions have helped this area to develop, online gaming establishments themselves have several reasons that contribute to them being chosen over land-based clubs.
- Fast access. You don't need to go out and visit the nearest gaming club in your city. Hundreds of establishments are available online once you decide on the critical factors for selection.
- More games. Slot machines, table games, broadcasts with live dealers, and sports betting await you and provide the best conditions for fulfilling gaming desires.
- Quick registration. Once you have found your gaming establishment, you quickly go through the necessary registration. The only difficulty is checking documents to ensure the user is of age.
Thus, online casinos provide a massive selection according to players' preferences and access from any country. All you need to do is find a licensed and safe place to place your bets.
Conclusion
According to the Statista website, analysts only foresee further success and development of the gambling industry. In the next two years, the numbers will grow significantly. Accordingly, it is anticipated to have more than 200 million users worldwide and revenue of $112 billion. This is expected since online casinos offer only favorable conditions for their clients.