Here’s a slice of data that comes as no surprise: the online gambling industry has done well, thank you, doubling in four years.
Data presented by CasinosEnLigne.com said 176 million people gambled online and brought in more than $95 billion in revenue in 2023, according to Focus on Business.
On average, revenue has grown 20 percent year-over-year, with the United States and the United Kingdom the top two markets who represented a third of all revenue sources.
In 2019, the entire industry grossed $45.7 billion worldwide, according to a Statista survey. A year later, this figure was $55.1 billion.
The U.S. online gambling industry could grow to $19.1 billion in 2023, and the U.K.’s market may reach $12.8 billion in revenue, or 62 percent more than four years ago. Australia, Japan, and Germany are projected to follow with $9.1 billion, $5.5 billion, and $5.1 billion in revenue in 2023, respectively.
Online sports betting is the largest revenue stream in the market, expected to bring $43.5 billion this year, a growth of 120 percent in 2023, or 120 percent more than four years ago. Online casinos have seen a massive 110 percent growth in this period, with revenue rising from $16.6 billion in 2019 to $34.8 billion in 2023.
Although online gambling brings billions of dollars in revenue each year, it also has the potential to do harm to jobs, education and finances. Yet more and more people play.
Online sports betting apps and websites have the highest number of users, 127.8 million as of this year, up from 60.3 million in 2019. Statista expects this figure to grow to 156.9 million by 2025.
Online casinos, the second-largest segment by user count, followed with a 62 percent increase in four years and 94.1 million users in 2023. This figure is forecast to touch almost 112 million in the next two years.
