If you were to look at the global online gambling market today without any previous knowledge of the industry, you would more than likely be surprised to learn that the first-ever real money online casinos was only launched back in 1996 and the first online sportsbook didn’t appear online until the early 2000s. So why would learning this likely surprise you? Well, it may prove to be a shock based on just how well the industry is doing today.
The online gambling market is growing year on year and is anticipated to be worth more than 92.9 billion dollars by the year 2023. There are a number of factors that have led to the online gambling market’s incredible growth over the last twenty five years, which has led to more and more investors sitting up and taking notice. This article has been put together in order to highlight some of the reasons why the popularity of online gambling is only going to increase as well as to outline why we think it could be the next big investment opportunity for potential investors.
Follow Or Lead, Or Either
As an investor, there is one question that should be at the core of all of your decisions making: is it worth my while? Luckily, when it comes to the world of online gambling and, online casinos in particular, the exploding popularity of the market means two things.
Firstly, it means that there are plenty of established online casinos that are looking for new investors to either help them to continue to grow or to turn things around. Secondly, as a booming industry, there is more than enough room for investors to start their own online casino from the ground up and/or join forces with like minded people in order to do so. So when it comes to online gambling from the perspective of an investor, you can follow or lead!
As the market grows, potential investors will be happy to hear that there is also an effort being made to educate adults on how to bet responsibly. An example of this comes in the form of howtobet.com, often referred to as ‘the betting wikipedia‘, which emphasizes the importance of responsible gambling, suggesting legal and reputable sports books and casinos and, offering expert advice on how to engage with the pastime.
The Legalisation of Online Sports Betting
We can present this very simply. If we look at the figures from the New Jersey Division of Gaming Enforcement, we can see that the online sports wagering handle in New Jersey for January 2021 was $886.65 million compared to $471.14 million for the same month in 2020. This is a growth trend that can be seen in many other states across America, including Pennsylvania. As more and more states legalise online sports betting, it is highly likely that the numbers will be replicated there.
The Future of Online Gambling Is Now
If this isn’t enough to catch your attention, the exponential growth of technology, gamification and even the introduction of virtual reality are all set to revolutionise the online gambling industry once again, which is set to keep current players sticking around as well as attracting new ones.
So whether you are looking at the here and now or for a long-term investment, the online gambling industry could be your next big investment opportunity.