Global online gambling market still growing

The online gambling global market is alive, well and still growing according to the recent “Global Online Gambling Market” study covering trends, forecasts and updates for the 2016-2022 period.

The research indicates that the sector will reach $81.71 billion by 2022, rising from $44.16 billion in 2016 at a CAGR (compound annual growth rate) of 10.8 percent, with sports betting and casino activity the top earners.

Other key points in the report include:

* The use of mobile devices for online gambling purposes is increasing;

* Over 80 nations have legalised online gambling in one form or another, and Europe has the largest online gambling market with further potential about to be realised when the Netherlands legalises.

* Growth in the Asia Pacific region has to some extent been stifled by government bans and interference;

* There is a strong possibility that more US states will legalise online gambling in the years ahead, motivated by the prospect of tax revenue;

* In Africa there has been little indication of legalisation outside of sports betting;

* Terrestrial gambling still dwarfs the online variety.