Even though interest in brand-new casino sites and gambling portals has been on the rise for some time, this same market as a whole is experiencing growth at a rate that has never been seen before.
In point of fact, the size of the worldwide online betting and gambling industry reached an astounding $61.5 billion dollars in 2021, as indicated by recent estimates provided by industry professionals.
According to the same report, this figure is expected to rise to $114.4 billion dollars in 2028, which represents an ultimate increase of about 86%. Possibly even more impressive is the fact that the growth rate appears destined to continue for a significant amount of time into the foreseeable future.
Growing Popularity
However, the easy accessibility of powerful devices which can be used to access iGaming sites and the appeal of an online casino in general is likely one of the most important factors driving the expansion of the iGaming sector.
It’s never been easier to obtain high-powered devices that are capable of connecting to high-speed mobile internet, which is something that you might expect in a society that is becoming more dependent on mobile phones to carry out a wide range of tasks that are performed on a daily basis.
Because of this turn of events, the number of people who own smartphones and other mobile devices has increased to an astounding 15 billion devices across the globe in 2021, which is an increase from 14 billion the year before.
Despite the fact that this innovation has been game-changing for people living in regions of the world that lag behind in terms of having access to very high speed internet and desktop computers, it has also had a significant effect on the online gaming industry.
The number of people playing games on their mobile devices has skyrocketed all over the world, and iGaming as well as online casinos are trying to take up a huge proportion of this cake! This indicates that an increasing number of people are obtaining their gambling fix through online venues rather than in person venues.
Convenience Factor
It would be basically negligent of us to ignore the convenience factor when trying to account for the rising popularity of the internet casinos over traditional ones. This is another significant factor that plays a role in this growing popularity. Despite the fact that this is a pretty clear contributor to the expansion of the industry, it is still important to emphasise!
If you have a reliable mobile internet connection and access to the internet, you can gamble online from just about any location on the planet. This means that you constantly have access to an engaging and enjoyable game to play in order to occupy your time, regardless of whether you’re attempting to remove the boredom of a daily commute home from work or you are sitting on the couch at home doing neither of those things.
These factors have proven to be irresistible to longtime fans of traditional casinos as well as first-time players. The availability of basically thousands of top-notch online casino games that can be accessed with the tap of a finger has contributed to an explosion in the number of players participating in the industry as a whole.
It also saves money and effort that were previously associated with making the journey out to a traditional concrete block casino, resulting in a big win in our book. Online casinos have surpassed their land-based counterparts in terms of patronage, largely due to the fact that they are better able to accommodate our increasingly nomadic way of life.
