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Global Scenario of Online Gambling and Betting Market

  • Date Submitted: 02/24/2016 01:13 AM
  • Flesch-Kincaid Score: 41.9 
  • Words: 564
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Since thousands of years, people have been betting on the outcomes of various games and events. This activity is carried at the places such as casinos, game parlors, bookmakers and currently online gambling. The online gaming market is one of the fastest growing segments of the gambling industry.

The market has witness online gaming business progressively moving globally, shifting the form of the gambling industry with many consumers adapting the Internet to gamble on slots, bet on sports or play cards. The roll-out of broadband services along with the rapid expansion of smartphone and tablet is one of the factors contributing to the growth of this market. Additionally, increased consumer confidence in effective and low-cost payment mechanisms; significant investment by the online gaming industry to promote its services is also further driving the market growth.

The online gambling and betting market is classified as sports betting, online poker, casino games including games such as slot machines, online bingo, and online lottery. Though, casinos and land-based lottery dominate the gambling landscape, online real-money betting and gambling are growing rapidly across the world.

This industry has witnessed varied regulatory landscape on online gambling and betting. Most of the Western European countries have laws in place to channelize online gambling and betting. Asian and North American countries’ major online real-money games are still awaiting progress in gambling and betting regulation. In the U.S. online gambling is legal only in three states whereas Asian countries allow gambling and betting only in casino resorts. Increasing demand of online betting and gambling is forcing governments to act to regulate.

Some of the key trends in online gambling and betting industry include social and mobile gambling. Increasing number of users for mobile gambling has propelled the growth of online gambling and betting market. Social gambling, developed from the...

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