Global online gambling market set to reach $66.59 billion by 2020

A new study by Research and Markets found that the global online gambling market was worth $35.97 billion in 2014 and is estimated to reach $66.59 billion by 2020, at a CAGR (compound annual growth rate) of 10.81 percent.

The study found that the use of mobile devices for online gambling purposes is increasing, and that the market growth for this industry is geographically specific.

More than 80 nations have legalised online gambling and Europe has the largest online gambling market in the world, R&M advise…and this is going to increase as Netherlands adopts new online gambling regulations.

In the Asia Pacific and African regions, however the online gambling sector has not grown as much due mainly to legal restrictions.

R&M expects that more US states will legalise some form of internet gambling, allowing this market to grow in these regions.