Online gambling can be described as the fastest-growing yet most developed sector of entertainment. There are many different aspects to look at when viewing the market. Growth has been consistent, expansion is happening daily. It is important to look at an annual overview and see what could change.
Looking at what could be done differently to improve the scene more. Just like any business, there is room for improvement. The key statistics that matter include population, profits, and net worth among others. However, these are commonly focused on stats. Some other facts and figures show the real development.
These facts are often overlooked because they don’t look as interesting. One of the facts is the largest market in online gambling worldwide. Most people believe that North America or Asia are the biggest markets in the world. It is not and we will look at what continent is below.
Other aspects that we will look at include the most played game types and payment methods for gambling online. Let’s get started.
The most controversial topic that is brought up now whenever money is mentioned is crypto. There has been a wave of the currency taking over and it is affecting things.
However, to become the most used payment method it will take more. Both time and effort will have to be put in to see that through.
Currently, PayPal, Debit cards, Credit cards, MasterCard, and bank transfers are ahead of crypto and other methods.
There are two categories to look at in markets. Markets let us focus on the consumers, in this case, punters or online gamblers. There is the aspect of the largest market and the fastest-growing market.
The two stand out because one is the real deal while the other is catching up. First, we will look at the largest market and then the fastest-growing market.
- Largest Market
As I mentioned briefly earlier, Europe is the leading market in online gambling. This is in terms of numbers put online as online gamblers. Sites that collect such data all agree on one thing.
Europe has just over 10% of the world’s online gambling population. It may look like a small number, but it is not. The world has billions of people.
Although not all of them gamble, a fair population does. Technological advancements have helped us out on that part. Online gambling only needs a secure connection and a smartphone.
All the other theatrics can be handled once you get into it. In Europe, the United Kingdom and Germany lead the other countries in terms of numbers per continent.
It comes as no surprise because the gambling laws are favorable to everyone. This is something the upcoming or trailing nations can take into account. Although Europe can boast of having the largest market, it can still do better.
More countries can become more active in online gambling rather than the big names we all know. If this happens, given the population of the continent, online gambling will seriously benefit.
- Fastest growing market
Europe having the largest market means it cannot be the fastest growing. Unless there is a specific country in the continent that is making significant changes.
Still, that is not the case hence why North America has the fastest-growing market. The market in North America is divided into two realistically. There is Canada and the United States, then the rest of the continent.
Recently, Mexico has been trying to make its presence felt. This has led to them solidifying their third spot in the continent. As a whole, the continent can be proud of the progress made in online gambling. It is mostly down to Canada and the US for various reasons.
For instance, they are the two largest countries there geographically. They also have the largest populations on the continent.
Technological advancements in the two countries cannot be compared to others. Such factors have helped improve online gambling in North America. Also, compared to Europe, online gambling picked up late in North America. However, with time, they will catch up with Asia and Europe who lead the pack. Africa still has a long way to go in online gambling.
Most played game types
Online gambling is an ever-growing market. There will therefore always be new additions in everything daily. In the meantime, there are two major game types.
Every online gambler is either playing casino games or sports betting. The two have relations but it is the latter that has the eye of many in the market. Here is a little breakdown of how this is the case.
- Sports betting
As we have seen earlier on, Europe has the highest market entry. In Europe, the most played sport by far is soccer. One thing soccer fans have all over the world is passion.
The passion doesn’t end on the stadia when they support their teams. It extends online where they bet on their favorite sport. Given the population of the continent and their love for the sport, it is no surprise how popular it is.
Horseracing is also among the top gambled sports in the world. E-sports is among the top three, and it will only continue to grow.
- Casino games
Casino games are well enjoyed all over the world. Most people play casino games without even realizing they are casino games. Sports betting is not ahead of casino games, at least not by much. This is because casino games are popular across the whole world. Not just in North America and Asia, but in Europe too.
If these games are dominating these continents, then they are good enough. The most played casino games include live casino, baccarat, blackjack, poker, and slots among others. Even the brief listing shows that card games are the most popular casino games.
Sports-themed casino games like racing games could do better. It is important to shout out live casinos. They keep growing and will soon be the epitome of online gambling.
That is an overview of how far the online gambling market has come. It also shows how far ahead it can still go.