There is little doubt that gambling as a pastime is on the rise around the world. From playing inside a casino to betting on new markets such as eSport, placing a wager is becoming increasingly prevalent and acceptable.
And as you might expect, we are seeing a huge shift towards online betting, rather than the conventional trip to a local betting shop.
A recent report by the UK Gambling Commission showed that the online betting market in the UK is rising at a rate of around 10% for each fiscal period. This is having a negative effect on land-based gambling.
We saw a huge fall in the revenue from land-based gambling in 2017/18 when it fell by £137 million. The following period, 2018/19, saw a similar fall again.
Quality Online Offerings
The service available online is far superior to that you can get in a shop, which is why many punters are turning that way. Not only that but the convenience of it all means that players can place bets from anywhere providing they have their mobile phone and the internet.
This is something that the shops simply cannot compete with, they have no way of preventing players from jumping across to online betting.
Gambling as an overall entity continues to rise despite these falls, showing just how many people are abandoning traditional betting shops and taking their business online.
Similar Trends Seen in Casino Industry
The casino industry has seen similar trends to the sports betting industry, with people moving away from casino halls and placing their bets online.
Just like with sports betting, people are heading online for the offers and bonuses that are available with casinos, that they can’t get when heading to a casino hall.
Players can take advantage of casino free spins no deposit required offers when they play online, which allow them to get a feel for online casino without spending any funds of their own. These offer an insight into what online casino gaming is like for those who have never experienced it.
eSports Bringing New Custom to Gambling Industry
The world of eSports is relatively new to the gambling industry, but it is already bringing new customers and additional revenue.
It is expected that eSports will reach a total market size of $1.5 billion in 2020, showing how rapid the growth in this part of gambling has been.
More people are not only participating in gaming, but watching it as a sport, and this has led to betting becoming available. Now, just like with traditional sports such as football and horse racing, people can watch a big eSports tournament live and place bets on who they think will win.
There is a lot of money being pumped into eSports, with global events being created and big sponsors jumping on board.
If this continues the rise and we see a spotlight on eSports in the coming years, the gambling industry will certainly jump on the tail of that and see another increase in eSports betting.