The online gambling industry has gone from strength to strength over the past five years. The industry has consistently grown over this time and is now a global industry, with $100 billion in annual revenue.
This growth has been fuelled by the increasing penetration of online gambling by consumers across the globe. There has been a substantial uptake in mobile gambling, with figures in a number of markets suggesting that up to a third of all gambling activity is now conducted using mobile technology.
The industry has seen a major shift in its business model. From being dominated by a handful of big operators, who largely relied on government regulation for protection, the industry has become much more competitive.
There have been significant shifts in the industry, with mobile gambling becoming the dominant growth area and the overall industry becoming more focused on providing consumers with a better value-for-money experience.
From the Global Economic Crisis
The online gambling industry began to grow significantly in the early 2000s. This was a time when the global economy was experiencing a deep recession, which lasted from 2008 to 2013. As a result, the online gambling industry saw a sharp increase in demand for its services.
According to data from the Interactive Media Entertainment and Gaming Association (IMEGA), worldwide online gambling revenue increased from $10.4 billion in 2009 to $17.4 billion in 2013.
This increase was primarily driven by the global economic crisis. When the global economy began to slow, there was a sharp increase in the demand for online betting services.
Some of the growth in the industry was driven by the growth of online poker, which has seen substantial growth over the past few years. As online poker became a more popular activity, people were looking for a 123BET gambling experience.
Growth of Mobile Gambling
As the industry grew, so did the amount of mobile gambling activity taking place. Mobile gambling is the fastest-growing activity within the industry. The industry saw a massive increase in mobile activity between 2009 and 2013.
According to data from IMEGA, mobile gambling revenue increased from $2.9 billion in 2009 to $5.8 billion in 2013.
The main driver of the mobile industry was the growth of smartphone usage. Smartphones have become an integral part of everyday life. This is particularly true in the UK, where 84% of people own a smartphone.
Smartphones are particularly popular among young people. This is one of the reasons why the industry has seen a rapid increase in mobile activity.