Online gambling and betting practices are quickly becoming one of the most popular ways of gambling and it is making a rapid transformation to the dynamics of the global gambling industry. More players are using the internet to gamble and place sports bets. According to a recent market research report by Transparency Market Research the online gambling and betting market has expanded across the world at an incredibly high rate over the last few years.
The report titled “Online Gambling and Betting Market – Global Industry Analysis, Size, Share and Growth, Trends and Forecast 2014 – 2020” gives a detailed overview of the current state of the market and shows the growth prospects of the key element in the market between 2014 and 2020.
Thanks to the expansion of broadband services and the high rise in the use of mobile phones and tablets, it is easier to access online gambling and betting portals. The popularity of mobile gambling has led to a massive growth spurt of the market. Although land-based casinos still dominate the global gambling industry the online gambling and betting market is growing at a favourable rate thanks to the rise in consumer confidence when it comes to low-cost online payment mechanisms.
The popularity of social media and mobile gambling practices are quickly becoming the biggest trends in the global online gambling and betting market. This is leading to an increase in attempts to target this large group of users through mobile apps and other creative marketing strategies designed specifically for smartphone users. The global online gambling and betting market has already been divided into different sections such as online poker, sports betting, online lottery and casino games such as slot machines and online bingo.
"According to the analysis by the report the fastest growth for the market will be experienced in Asia Pacific during the given period."
This is mainly thanks to the leading position of Australia in terms of the spending per person in the country. Another lucrative market for online gambling and betting is Japan as the government has a regulated online betting website that runs in coordination with the national lottery operative of the country.
The report also discusses detailed business profiles, all recent developments, financial details, revenues, SWOT analysis and all other details regarding the merchant giants of the market. Some of the biggest companies discussed in the report include 888 Holdings, Ladbrokes, Paddy Power, Betfair Group, PokerStars, William Hill Online and Bwin Party. All these companies have been in the run since the beginning and are extremely competitive. Each company is constantly at work to provide online gamblers with the best quality games and the most comfortable environment to play in.
According to the analysis, huge growth is expected in the online casino and betting market which would mean easier, bigger and faster playing experiences for all online casino enthusiasts out there. It is also highly recommended for Online Casinos to have a Mobile gambling option available if they want to stay in the game.