While roughly 51% of the world's population gambles in some form every year, the global gambling market has never been the same since the first online casinos started up in 1994.
By 1998, online gambling revenues were reportedly upwards of $800 million. A decade later, global online gambling revenues had hit an estimated $21 billion. Today, the market is larger than ever and growing rapidly.
Projected global online gambling market size by 2027
Expected global market growth rate from 2020 to 2027
Percentage of US states where online gambling is legal
Increasing access to the internet
The rapid adoption of smartphones
The proliferation of customer-targeted advertising
The ease of access that comes with online casino gaming platforms1
Even the COVID-19 pandemic has boosted demand for online gambling:
...due to people sitting locked up in their homes and not having anything exciting to do, many tried their hands at playing online slots or other live dealer games. Many online casino sites found new subscribers, while the regular players also made it a point to play online, marking a paradigm shift in the way the traditional gambling industry used to function.
2021 Analyses on the Global Online Gambling Industry, ResearchAndMarkets.com 2