What’s happening with the gambling industry in 2021? – London Business News | Londonlovesbusiness.com – London Loves Business

What’s happening with the gambling industry in 2021? – London Business News | Londonlovesbusiness.com – London Loves Business

The gambling industry has been showing steady growth for many years. And this is largely facilitated by the online gambling segment. With the widespread digitalisation and proliferation of smartphones and the Internet, more customers are joining online casinos and sports betting platforms.

In 2021, the online gambling industry continues to actively develop. How did this sector survive the pandemic? What are the forecasts of experts and what contributes to the growth of the industry? What technology is being actively used and will be used in the future? Let’s answer all these questions further in this post.

How has the industry developed in recent years?

Due to the “pandemic crisis,” there was a decline or slower growth in many business segments; however, the gambling industry bypassed this. Widespread lockdowns and the shift to remote work systems have forced the population to spend more time at home. As a result, users began to surf the Internet more than many industry players took advantage of. Bookmakers and casinos began to actively buy ads on popular resources, such as YouTube, Instagram, Facebook, Telegram, etc. And this has resulted in the rapid development of the industry.

Until now, advertising of casinos and sports betting platforms is available on different sites. Gambling companies are constantly improving the level of their advertising and expanding traffic channels, entering new platforms. And this marketing approach works. Having filled almost all the media space, bookmakers and casinos attract a huge audience to their sites/applications and do everything to make them regular customers. The influx of new customers and constant support of the existing base allow gambling projects to constantly develop and scale their businesses.

According to Statista calculations, the online gambling industry will show a CAGR of 7.91% between 2019 and 2026. Experts also estimated the size of the market. At the end of 2020, it was 66.7 billion dollars, and by 2023, this figure will reach 92.9 billion.

At the same time, Zillion Project analysts believe that the online segment will be the main driver of the gambling industry’s growth. “The pandemic has only accelerated the influx of users to online casinos and bookmakers. This transition from classic offline points has been smoothly happening in recent years. Online gambling has been under active development for more than a decade, and while regions with a weak presence remain, such as Latin America, Africa, and Eastern Europe, growth will continue.”

How is the industry developing in 2021?

According to experts from H2 Gambling Capital, between 2018 and 2019, the market structure looked like this: the largest share of the online gambling market was on sports betting and similar events. At the same time, betting occupied 48.7 percent of the market, which in monetary terms amounted to more than 19.5 billion euros in terms of revenue. In the second place, there was the online casino industry (their share was 26.8 percent and 10.7 billion euros in revenue). Then there were lottery draws (8.9 percent), poker (6.2 percent), quests, and loot boxes (5.1 percent). And, finally, there were bingo draws (1.8 percent). 

To date, the percentage indicators of presence in the industry have not changed much and generally reflect the overall picture. Sports betting and online casinos are still …….

Source: https://londonlovesbusiness.com/whats-happening-with-the-gambling-industry-in-2021/