Online gambling is an industry that’s full of technological innovations. From random number generator technology and modern encryption methods to real-time live streaming, it’s an industry built on innovation. As such, online gambling operators are doing big business around the world. From developers and operators to third-party affiliates, online gambling is a multi-billion-dollar industry.
That means it’s home to interesting and illuminating facts. With this in mind, here are some of the online gambling industry’s vital statistics:
Online Casinos Host Over 500 Games
The average online casino hosts more than 500 games. Most land-based casinos, even the behemoths in Las Vegas, can’t match the number of games available in the leading apps. For example, the list of slot games online at Paddy Power contains 600+ titles from a variety of developers, including NetEnt and Reel Time Gaming.
As well as classic themes, popular online slots are based on movies and popular pastimes such as football and fishing. Other games available online are blackjack, roulette, baccarat, poker, bingo, scratch cards and live dealer games.
Most Money is Made Online
The gambling industry as a whole was worth $231 billion in 2021. This figure takes into account betting activity online as well as land-based venues such as casinos. Looking specifically at online gambling revenue, SkyQuest put the market’s value at $73.1 billion in 2021. Additionally, the online gambling industry is expected to grow 11.22% by 2028, taking its value to $153 billion.
The total Gross Gambling Yield (GGY) in the UK was £12.7 billion between April 2020 and March 2021. Of that figure, £4.2 billion came from the National Lottery and £6.9 billion from online gambling (casino, poker, sports betting, and bingo). The remainder came from land-based casinos, racetracks and retail betting shops.
Sports Betting Dominates
Sports betting accounted for approximately 50% of all online gambling revenue in 2022, according to data from Grand View Research. The data also shows that most online gambling activity (up to $31 billion worth of revenue) takes place on desktop computers.
Blockchain Betting Already Has Millions of Fans
Blockchain-based gaming is gaining momentum. Further insights from Grand View Research shows that cryptocurrencies and their associated blockchains are being used to drive forward the online gambling industry. In 2022, one blockchain-based gambling site had 4 million users.
People Gamble Online in 30+ Countries
Online gambling is specifically regulated in more than 30 countries. It’s also not prohibited in many more (these are markets where gambling isn’t illegal but there aren’t any official regulatory frameworks in place).
Mobile Gambling Activity is Growing
Currently, the biggest market for mobile gambling is North America. This is likely to increase as mobile technology improves with the help of innovations such as 5G. As can be found on Signalchecker, 5G coverage is rapidly expanding and becoming more widely used across the UK, and so we can expect mobile gambling to become more popular as this develops.