Global statistics and trends about gambling are very complex because trying to figure out exactly how many people gamble is not easy. There is a lot of error involved in trying to determine exactly how many people around the world are involved in gambling and how much they spend in a day, week, month, or week. Thus, most of the data that is available are just approximations.
Regardless of all these difficulties and potential for error, numbers are still out there and they continue coming out every year. There are several organizations and learning institutions that are involved in studying gambling in terms of common trends and statistics. Many governments also generate annual data regarding their population’s gambling activities and how gambling is affected their nations. Below are some common trends and statistics worth knowing as a gambler at OLE777 Gaming Casino.
Gambling by country
Gambling varies from one nation to another, with some countries being involved more than others. Regulation of this activity also varies by nation. There are nations that have placed heavy restrictions on online gambling, making it very difficult to engage in the activity. Some countries place a complete ban on online gambling while others allow their citizens a lot of freedom.
The 2019-2024 period forecast projects that the gambling market will experience a growth of 8.77%. Of all online gambling activities, online betting is the fastest growing. This growth is attributed to several factors among them being the increase of the number of female players and the convenience brought about by the introduction of cashless payment methods. Gambling companies are expected to increase the number of gambling services they offer to attract more players. Stricter regulation is however expected to control the rate of growth of the industry to ensure it does not get out of hand.
Key Market Trends
Many countries have legalized sports betting and that continues to encourage more people to join the gambling industry. That is the reason why online betting is also growing at such a high rate. Online betting applies to a wide range of sports such as horse racing, American football, greyhound racing, tennis ball, soccer, basketball, cricket, and golf just to mention a few. Almost every sport can be betted on. Online betting companies today continue to increasingly sponsor various sports teams as a way of a marketing initiative and strategic expansion. Many betting companies like OLE777 Gaminghave acquired global recognition by sponsoring popular sports teams such as AC Milan, Real Madrid, Manchester, and Arsenal among others.
Competitive Landscape The online gambling industry and gambling in general is controlled by certain big companies. These companies attained their control over the industry by engaging in strategic mergers. Recent history has seen several mergers in this industry that have placed some of the companies that now control the gambling industry on the map. These mergers have happened in various countries across the globe. Besides mergers, there have also been many acquisitions with big companies acquiring smaller ones for the sole purpose of gaining more control over the market.