In recent years, the casino industry has shown real growth. With the advent of the internet and the expansion of the global online gambling market – the growth isn’t slowing down anytime soon. According to an analysis released by Technavio, currently the online gambling market has an annual growth rate of almost 11% which is expected to continue till 2020.
According to the American Gaming Association, the global online gambling market is worth $37 billion a year as 85 nations across the world have chosen to legalize internet gambling. The U.S. is the exception due to the jurisdictions in states such as New Jersey, Nevada and Delaware, where online casino gambling is both legalized and regulated.
With these restrictions, the real question is where do the rest of the online gambling revenues stem from? Well, the answer is Europe. Online gambling is worth almost $15 billion a year and is growing faster than the rest of the world; this is according to the European Commission. Yearly, online gambling is now seeing a growth of 15% and this is across the continent.
Top Innovators Dominate European Gambling Market
Across Europe today, the top gaming pioneers are elevating the bar when it comes to online slots and various casino table games for both desktop and mobile players. Online casinos are now offering high quality games and real quality gaming experience. Currently, the global growth of the online gambling industry continues to set and break new records as more people are now joining the online gambling world.
mGamingWatch confirmed that during the recent 2016 Spring Championship of Online Poker (SCOOP), the event set a new world record for the richest ever online poker series. This event was held over a 17 day period by PokerStars.
“The total prize pool of $90, 984,283.44 across 56 events (168 tournaments) smashed the previous record of $81,222,1578.66, set during SCOOP 2014, by nearly $10million. The result highlights the strength of PokerStars’ flagship poker championships and the appetite that players from around the world have for the biggest and most prestigious online poker series,” an announcement from the online poker giants explains.
U.K. Owns the Online Gambling Market
With more than 18 million online gambling accounts in the U.K. alone, the U.K. is the most robust online gambling market in the word! Between 2009 and 2005 online slots play increased by 328%, while table games and poker grew by 52% and 26%, respectively, this is according to the United Kingdom Gambling Commission. Another added benefit for U.K. players is that online poker player have the opportunity to compete with fellow players from other countries provided the platform has regulatory approval from the U.K. government which means better gameplay and more chances to win big!