The modern world is one that is firmly centred around the Internet, with the vast majority of us doing nearly everything online from shopping to socializing. It's hard to find any service that isn't online, and many more industries are making that move every year.
One area that jumped onto the Internet early on is the gambling industry, with roots as far back as the 90s predating many other businesses. It is also a market that has seen incredible growth over the past decade, thanks to a massive spike in popularity amongst the general public.
Which online gambling games have become most popular?
When you look at the library of a major site like Paddy Power, a few categories will immediately jump out at you. Online slots, virtual live casino and and online bingo for real money are all front and centre, and these are by far the games people go online for most. For the slots and bingo, these are generally digital versions of the traditional games in person, while live casino games emulate a real casino remotely with a host and studio.
There are also a wide range of card and wheel games that you'd find in a regular casino, including many varieties of blackjack, poker and roulette, although these aren't often a highlight of an online casino. As a note, smaller sites may also focus on a single type of game more, so it's better to use a larger site as a benchmark.
What is the data showing about online gambling?
The most recent data shows two key things that link to online gambling; firstly, that the market has been growing fast and it will continue for the next decade, and second is that the growth is extremely well tied to smartphone usage growth.
Starting with the first point, the numbers are crystal clear; between 2021 and 2028, analysts are predicting that market value will nearly double up to $114 billion worldwide, an increase of over 10% every single year with no slowdown in sight.
How do smartphones affect online gambling?
Putting this massive increase in popularity, including the millions more people gambling each year, down to just one factor would be a little simplistic, as there is a massive range of economic and social factors to take into consideration.
One factor that does seem to show a strong correlation, however, is the continued increase in smartphone usage. While the growth rate in smartphone penetration has slowed in the past few years, as of 2021 analysts reported that 88% of the US population owned a smartphone.
Convenience is a likely explanation for the correlation; the ability to play slots or bingo from anywhere at any time has certainly opened up gambling to a much wider audience, especially with smartphones and data now so easily accessible worldwide as well.
In the end, as long as smartphone usage creeps towards that 100% mark around the world, we can expect to see more and more growth in online gambling as millions more pick it up.