Online gambling market expected to reach USD 160 billion by 2026. The online gambling industry is expected to reach a $160 billion valuation by the end of 2026, according to a new study by Global Market Insights Inc.
Various new features are introduced by gambling platforms by leveraging technological advancements to attract more customers. This new trend is anticipated to majorly foster the industry size in forthcoming years. Various new technologies like Virtual Reality, 3D Animation, Live Table Games, and convenient as well as mobile-friendly gaming are majorly propelling the market outlook over the coming years.
The online gaming industry in Asia-Pacific recently experienced a major upsurge in the industry due to the coronavirus pandemic. The strict lockdowns enforced by regional authorities were responsible for driving the acceptance of online betting by APAC customers to a large extent.
In reality, Australia witnessed a tremendous 67 percent increase in online gambling back in April 2020, according to reports from illion Australia and AiphaBeta Australia, after the country closed every non-essential service in Australia to keep the case count low. Similarly, the closure of land based casinos has also resulted in a large rise in players using online casinos in countries such as India.
Global Poker, the US-facing online poker room, reported a tremendous 43% growth in the adoption of online poker platforms across the United States after the lockdowns and social distancing mandates took effect.
[image: Aidan Howe]