Is the gambling industry a lucrative investment venture in 2024?

The gambling industry today is a huge player in the world economy. The worldwide online gambling market is projected to reach $107.30 billion in 2024. Slotegrator shares its brief overview of the gambling industry as an investment opportunity — and why now is the time it deserves your attention.

Gambling today is more than just a pastime — it is a massive industry with thousands of online casino platforms and nearly as many software developers, service providers, and game designers. 

Here are a few figures that show the current state of the industry:

• According to Yahoo! Finance, the European online gambling market’s size is estimated at $52.30 billion in 2024.

• It is anticipated that total revenue in Asia's online gambling market will reach €10.88 billion in 2024, according to Statista.

• User penetration, which measures the percentage of the population who gamble online, is projected to be 2.5% in 2024.

• The overall value of the offline and online casino sector size worldwide was as high as $263.3 billion in 2023.

It’s noteworthy that these numbers only represent legal and registered businesses. The size of the black market is difficult to measure, but tightening regulations, as well as an increasing number of regulated markets, should help in combating such a market.

Entrepreneurs and investors from a range of backgrounds find gambling to be a valuable opportunity. In recent years, investing in iGaming has become a popular choice for crypto traders or operators of crypto trading platforms looking to turn their financial gains into a profitable, long-term project.

The gambling industry makes notable contributions to the global economy, most evident in job creation, tax revenue generation, and the growth of ancillary businesses linked to gambling establishments. Governments are increasingly supportive of the industry, establishing a mutually beneficial relationship that boosts economies.

What else contributes to the strengthening of the gambling industry today?

1. Amendments to gambling regulations in various regions. Governments, acknowledging the economic potential of the gambling sector, have adjusted laws to accommodate both online and land-based establishments. This regulatory evolution has created a favorable environment for businesses to prosper.

2. Changing attitudes. Shifting societal attitudes towards gambling have led to greater social acceptance — more individuals are open to exploring and participating in diverse forms of betting and gaming. This cultural change has broadened the customer base, contributing to the industry's rapid expansion.

3. Mobile phones. The ascent of the gambling industry has in large part been driven by the proliferation of smartphones. Mobile access has simplified participation in diverse gambling activities, ranging from sports betting to casino games, requiring only a few taps on users' screens.

4. Innovations. The gambling industry is often the first to adopt new technologies and develop new solutions in the world of entertainment. The choice of payment methods is growing, more and more types of games are being invented, the list of regulated jurisdictions is expanding, and traveling is becoming easier. 

Experts predict that the gambling industry will definitely grow in the future:

1. According to Yahoo! Finance, the European online gambling market’s size is expected to reach $88.16 billion by 2029.

2. It is expected that the global user penetration will reach 3.0% by 2028.
   

Khoren Ispiryan, sales manager at Slotegrator, comments: “The gambling business is a smart investment nowadays. This market is flexible, dynamic, tech-savvy, and modern. It has similar development prospects in terms of growth as the bitcoin market, but in the gambling market everything can be calculated in detail and doesn’t depend on market forces causing a currency to spike. The market development is consistent, predictable, and promising. The period of post-pandemic recovery has passed and interest in various markets is high — the time to enter this market is now.”

If you want to know more about the investments in the gambling industry, read the article at Slotegrator Academy by link.