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The Potential Market for Online Gambling

Companies / Gambling Sep 29, 2018 - 12:06 PM GMT

By: Submissions

Companies

The first few online gambling sites turned up right around the time the internet was going mainstream. It’s an industry that’s been around for decades, and has grown tremendously in different parts of the world in recent years.

According to recent estimates from Juniper Research, the global market for online gambling could get seriously interesting in the near future. Last year, it was worth $620 billion, with British names like William Hill PLC, Playtech PLC, and Paddy Power Betfair PLC dominating the list. This year, the market has grown by over 13%, reaching $700 billion. If the current trend continues, Juniper believes the market could see more than 684 million companies in a market worth $1 trillion by 2022.


Improving technology and better access to online payment solutions seems to be driving the recent surge in growth. More people are signing up to an online casino or digital betting platform for the first time. With sophisticated chatbots personalizing customer support and virtual reality enhancing the experience, the adoption of these platforms is only expected to accelerate.

Another opportunity for growth is the changing perception of online gambling across the world. Perhaps the most noteworthy market is the United States. American states and the federal government are expected to take a more liberal approach to online gambling in the near-term. A few states have already drafted regulations for the industry and big players are plotting their market strategy. Gambling is currently legal in the states of Pennsylvania, Delaware, New Jersey, and Nevada, while a handful of others have an online bill due this year.

By some estimates, opening up America’s multi trillion dollar economy to online gambling will unleash the next unicorn. With these platforms easily accessible on everyone’s phone, a successful online gambling company could look very similar to Farmville maker Zinga or Angry Birds maker Rovio.

While a number of countries are either considering relaxing rules on the industry or introducing new frameworks for regulation, the UK remains the biggest market for online gambling. Over the years, the industry has flourished, creating jobs and supporting the government with lucrative taxes. Last year, more than 100,000 were employed in the gambling industry and more than £2.8 billion collected in taxes.

Fortunately for British investors, many of the most interesting online and offline gambling companies are listed on the stock market so they’re open to retail investors. Perhaps the most noteworthy is 888, which has a wide portfolio of online betting platforms, a recognizable brand, and a presence in the US. In fact, 888 has had operations in the US since 2013, which makes it particularly well-placed for an eventual liberalization in regulations. Others include Sportech, GVC, William Hill, Paddy Power Betfair, and AIM-listed Webis.

The online gambling industry is hitting an inflection point. With the chance of more acceptance in different parts of the world, the widespread adoption of smartphones, the proven business model of mobile gaming apps, and the potential for better digital payment technology, this is an interesting time to take a closer look at opportunities in online gambling.

By Chey Coscolluela

Copyright 2018 © Chey Coscolluela - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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