Gambling has been around for centuries and wagering on sports events or playing games for money is nothing new. However, the industry is growing immensely and is impressing us all with its numbers. How did the industry grow this large, and is it possible that it will get even bigger?
There are many different ways to gamble, but the biggest by far are ONLINE SPORTS BETTING and online casinos. These have made it possible to bet and play whenever and wherever using smart technology and innovative solutions.
The numbers
The global gambling and sports betting market was estimated to be worth around $61.5 billion in 2021 and should grow to about $114.4 billion by 2028 according to estimations done by PRNewswire. While these numbers will surprise many, others are well aware of a large amount of gambling. This is for example the sportsbooks, which are the ones offering online sports betting. In addition to these, there are online casinos that have become more and more tailored to consumers. Better design, desirable bonuses, and constant availability are some of the things that are being done to make their sites more attractive.
Online Appearance
Most of what we do is happening online today. Whether it is entertainment, work, education, or socializing, it all has an online platform. We have become digital natives, and many prefer this way compared to doing physical things. It can save a lot of time and energy and has definitely opened up a lot of doors for us in the modern world. It is one of the key factors to the huge increase in the global sports betting and gambling market, and it makes it possible to bet on sports matches that are happening across the globe, for example, the World Cup in Qatar this fall.
Legalization of gambling
Another big reason for the impressive growth in the market is the legalization of acts happening. More and more states and countries around the world are legalizing gambling and making it available for all. 2021 was a big year for gambling, and no less than 11 American states legalized gambling within their borders. This is perhaps why U.S citizens wagered a record-breaking $8 billion on the Super Bowl match alone.
