The Contemporary Era of Online Casinos: Examining the Latest Study Reports and Trends Introduction The online casino industry has grown massively in the past decade, thanks to the advancements in technology and the growing number of consumers. The online gambling market was valued at USD 53.7 billion in 2019, and it is expected to reach USD 127.3 billion by 2027, growing at a CAGR of 11.5% from 2020 to 2027. In this report, we will examine the latest study reports and trends in the online casino industry and evaluate the impact of the COVID-19 pandemic on the industry.
Impact of COVID-19 Pandemic on Online Casinos The COVID-19 pandemic has had a massive impact on the world economy, and the online casino industry has not been spared. However, Wales News Today the impact has been mostly positive for the online gambling industry. With land-based casinos shut down, gamblers have turned to online casinos as a means of entertainment and income. According to a report by Grand View Research, the global online gambling market size is anticipated to register a significant growth rate during the forecast period.
The report indicates that the pandemic has led to an increase in the number of online casino players and the adoption of online gambling, thus driving the growth of the market. Additionally, the growing number of internet users, the ease of access, and the availability of virtual reality platforms have also contributed to the growth of the online casino industry during the pandemic. The Latest Study Reports on Online Casinos 1. Mobile Gaming Mobile gaming is one of the fastest-growing trends in the online casino industry.
According to a report by the UK Gambling Commission, mobile gaming accounts for 56% of the online gambling market in the UK, with slots being the most popular mobile casino game. The report also indicates that the number of people using mobile devices to gamble online has increased significantly over the past year. 2. Live Casino Live casino is another trend in the online casino industry. Live casinos use a camera to stream live games to players, offering an immersive experience similar to land-based casinos.
According to a report by Technavio, the global live casino market is expected to grow at a CAGR of more than 10% from 2020-2024. The report indicates that the rise of live casinos is primarily due to the increasing popularity of social interaction, which has been intensified due to the COVID-19 pandemic.