A report titled “Global Online Gambling Market” from Technavo covering online gambling for the 2016-2022 period reported that online gaming hit .16 billion in 2016 and is estimated to reach .71 billion by 2022.
The report noted that the use of mobile devices for online gambling purposes is increasing and also that growth for the industry is very geography specific, according to an analysis at yogonet.com.
More than 80 nations have legalized online gambling with Europe as the largest online gambling market in the world. In the Asia Pacific region, the online gambling sector has shown slow growth as many Asian countries such as Singapore have banned online play, the report said. African countries have also been slow to legalize online gambling.
Also, despite the growth in online gaming, land-based gambling still dominates the gambling market, but a major driver for online play could be is the opening up of new markets in countries such as the U.S. where three states now offer online gambling.
