Online poker and gambling, in particular, has managed to boom over the years to levels that are unprecedented and shows that the industry is continuing to grow at rather astronomical rates.
There are a number of reasons why the classic casino game and online gambling continue to boom, though, with figures having already suggested that there may be even more room for growth in the near future as its popularity continues to increase due to advancements in technology, the increased accessibility and the new innovations that have been experienced.
What are some of the figures available?
According to estimated figures that have been made by the American Gaming Association (AGA), the online gambling sector is thought to be worth around $73 billion each year at the moment, although that figure is just a fraction of what it can be in the future.
It is believed that the potential worth of this sector that continues to grow at an extraordinary rate could be around $127 billion by 2027 due to a number of different factors that make it easier than ever to enjoy the activity. To put the $127 billion figure into context, there are around 60 countries in the world that are currently experiencing more than that sum as a result of their Gross Domestic Product (GDP).
It was believed in 2019 that the online poker industry by itself was worth an estimated $58.96 billion, thus highlighting its popularity and growth. Indeed, with it being thought that around 17% of the world’s population enjoys taking part in online gambling, there is still plenty of room for growth and, subsequently, bigger revenues, especially as 26% of the world’s population take part in gambling.
What are the reasons for the huge revenues?
As alluded to earlier, there are a number of different reasons as to why there is a boom continuing to be experienced by the industry, with technology playing one of the biggest roles possible.
Bettors who are looking to play a round of poker will now be able to simply log into one via their mobile device as there are a plethora of options available to them than ever before. The industry has become incredibly competitive but has become even more accessible than before. Unibet is just one example of an operator that provides one of the best online poker Canada has to offer as bettors are able to access their service from their tablets, laptops or even smartphones.
In addition to accessibility, the games are becoming even more innovative than before, with many of them having introduced features that help to further enhance the gameplay experiences provided and make playing the game online even more appealing.
For instance, features such as live chat allow bettors to be able to interact and socialize virtually with the other gamblers who are playing at the same time, whilst the technology provided with many of the live dealer games available provide users with a truly immersive experience and one that would be akin to the same experienced when at a traditional casino.
The fact that there are still a number of innovative features that can be applied to the game via the use of technology, perhaps virtual reality (VR) in the future, will only continue to attract users to play online poker and send the sector above the $127 billion estimates that have been set.
The potential to win will see the industry grow
Simply, another reason why online poker and gambling sectors will continue to undergo a number of significant and telling booms in regards to growth and popularity will be down to the fact that a lot of money can be won from playing the games available.
Indeed, times have been hard financially for many over the last few years, which has seen a number of people turn to games such as online poker as they look to try and find themselves some extra income. This means more money is being put into the industry and whilst some big wins may be had, the industry is only ever going to increase in terms of revenue because of the number of players looking to play.
Verdict
The industry is only going to soar in the future as technology continues to evolve and new innovations are provided to the sector. Online poker and gambling might already be an industry that is worth approximately $73 billion a year currently, but it would not be a surprise to see it go to $100 billion and higher in the next few years as predicted.