I was browsing through statista.com and saw that its projected that by 2029 the online gambling market will have an estimated 281.8 million users by 2029. Currently {2024} the user penetration is marked at 5.9 percent but by 2029 its expected to be at 7.4 percent! What do we think of this growth?
It's bound to happen, I mean look at any other sector; everything's shifting online.
The growth’s wild, but it seems like more people are getting hooked every day
I think the massive growth is really expected to happen as more and more people get to access online gambling market. Some of my friends parents (especially their fathers) are slowly transitioning to online casinos since according to them 'it is more convenient'.
@khalidbedouin agreed. affordable internet, access to internet connected devices, convenience, anonymity, and the rewards + bonuses are big catalysts to the growth.
@evcj_ Convenience is a huge factor as physical casinos require a lot more time and money investment compared to online casinos.
It doesnt come much as a surprise though. Lately online gambling has become more and more popular so I wouldn't expect any less as technology becomes more and more advanced and there are more people using gadgets
@heyitsky true true.
Here in ph, online casinos are becoming more accessible to people. Will not be suprised about this trend
I'm not surprised. The convenience of gambling online with just a few seconds to register and send three pictures of your ID in order to start playing is just lucrative enough.
The statistics are on the money since technological advancements will increase accessibility to online gambling platforms. Faster internet connection, better mobile devices, and virtual reality will bring more people into the fold. Add to the mix emerging markets like Africa, Asia, and Latin America; they'll most definitely be contributing to this forecasted growth. There is also a cultural shift where online gambling is becoming an acceptable form of entertainment, inadvertently it will attract a wider demographic of players.
@pkyonze Yeah, absolutely. Affordable internet is the real deal here. It's bringing hordes into online gambling.
It's just so easy to place a bet on your phone - as more people get disposable income and devices it's inevitable!
