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Online Gambling Growing at Alarming 43%: Report

The revenue of the global mobile gambling market is estimated to grow at a CAGR of 43.08% in terms of total annual wagers over the period 2014-2019 and by GGY, the global mobile gambling market is likely to grow at a CAGR of 18.36% during the forecast period, said the “Global Mobile Gambling Market 2015-2019” report.

Mobile gambling includes betting, gaming, and lottery through mobile devices such as smartphones or tablets. The revenue from betting on outdoor sports such as football, tennis, cricket, basketball, and horse racing, besides the money spent on casino games and slot machines, or lottery generated from bingo, lotto, and gaming machines.

The report has categorized the market into three categories: betting, gaming, and lottery and said 2014 market share of each category and the factors responsible for the position that each segment holds. It also presents the geographical segmentation of the market.

In UK, 68% of the women participated in gambling activities in 2012 and they prefer online gambling over traditional gambling. There has also been an increase in the number of gambling app downloads.

Social gambling is expected to be a significant market driver in the future. Internet users are a primary target audience for vendors and they are focused on developing innovative social gambling games for this audience. Social networking, user-friendly gameplay, and tournaments have increased the number of social gambling participants.

Furthermore, players across the world are adopting the F2P model of social gaming. The F2P model of social gaming does not drive revenue directly as it does not involve any participation fee, but the majority of its revenue is driven by the virtual goods that players purchase to access advanced features of a game or to gain an edge over competitors.

According to the report, gambling is a major source of revenue for several countries though it is considered illegal in many others. Lotteries, for instance, offer tax revenues, creates employment opportunities, overcomes budgetary gaps, and helping in societal welfare.

The US and some countries in Europe, that are liberal toward gambling, are also easing their regulations related to lotteries. This shift in mobile gambling regulations has opened up opportunities for players to participate in online gambling activities from any part of the world, where gambling is allowed. However, in Asia, physical casinos have a greater presence than their online counterparts.

However, the report noted that many countries worldwide have imposed strict regulations on gambling activities, which hinders market growth though in favour of public welfare. India is among the nations which has imposed several bans on betting and lottery.

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