Mobile gambling continues growth in 2021
Land-based casinos suffered a massive decline in revenues because of the government lockdowns imposed to curb the spread of the novel coronavirus.
The absence of bricks and mortar casinos and other land-based gambling institutions boosted the rising influence of online gambling. Mobile gambling and faster internet speed contributed to the growth of online gambling. Mobile gambling is one of the fastest-growing industries expected to grow massively in the next couple of years.
Land based-gambling saw a massive decline in revenue when the lockdowns were implemented. William Hill recently shutdown 119 outlets because of the virus spread. Nearly 300 employees of the company were affected because of the closure.
Mobile betting revenue is expected to grow
The shutdown of bookies in the UK paved the way for the growth of online sportsbooks. Mobile betting apps started appearing in the market because of the pandemic. Mobile gambling provides the most convenient gambling venue for gamblers. Mobile gambling and the increasing number of young players contribute to online gambling popularity.
The report of the Fantasy Sports & Gaming Association reported that 82.5 percent of all sports betting revenue in New Jersey came from mobile and online sports betting.
Online gambling is estimated at around $90 billion by 2025. Studies revealed that sports betting would dominate the online gambling industry in the country.
Experts revealed that 72 percent of the total volume of wagers in states with regulations is projected to rise in the future. The Gambling Commissions industry statistics from October 2018 to September 2019 revealed the industry’s online gross gambling yield.
From April 2018 – March 2019, the online gross gambling yield reached £2.1 billion.
Internet-related gaming continues gaining popularity
The novel coronavirus proved the industry’s potential for growth, and mobile gambling had cemented its foothold in many countries as technology develops. People are moving towards digitalization. The gambling industry needed to adapt to the rapid growth of the gambling industry.
Mobile gambling is related to almost every form of gambling. Online sports betting are expected to rise because of the resume of major sports events. Mobile gambling is the new trend. Casinos are racing to produce online gambling apps to cater to the demand of the industry.
The novel coronavirus pandemic is the biggest contributor to the rise in mobile gambling. The stay at the government’s home mandate has trapped people in their homes with no entertainment except their mobile phones.
The development of mobile phones changed everything. Mobile gaming became the trend during the month’s extended lockdowns. The global online gambling market 2020, concluded that Europe would remain the largest online gambling market, followed by the US. The change in outlook in online gambling in the US will boost the global online gambling market.
There are more than 18 states in the US with regulated sports betting operations and five states with online casinos.
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