The number of online gamblers will more than double by 2022, driven by engaging new products in the casino space, easing regulations and increased uptake in digital products, according to new data from Juniper Research.
According to the firm, total online gambling wagers is expected to reach $1 trillion globally in 2022, with the number of gamblers reaching 684 million.
Online casino will make up a large portion of gambling wagers, making up for up to 40 percent of online wagers by 2020, said Juniper.
The new research comes from “Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2018-2022,” published by the research firm.
Research author Lauren Foye regarding the growth in the casino market said: “We believe new channels, such as chatbots, have the potential to drive customer engagement, through delivery of personalised offers, alongside 24/7 player support.”
The research also anticipates significant disruption from social offerings, with provider LetsBet among the innovative start-ups which the research believes are set to disturb the status quo.
Juniper said that providers in the online gambling industry, particularly in the casino space, will increasingly offer engaging products to drive user adoption and player spend.
Additionally, easing regulations related to online gambling will give more access globally.
“Whilst one of the most promising online markets, Australia, has seen poker ‘inadvertently’ banned (and thus providers depart), new opportunities are emerging across the globe,” said Juniper.
Pennsylvania in US, for example, became the latest state to legalize online gambling services in late 2017.
With continuing efforts by a number of states to legalize online offerings, Juniper said it finds the North American market ripe for future growth.
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