The Top Trends of the Global Online Gambling Market in 2016 and Beyond
- Author: Elsie Buchanan May 18, 2016,
May 18, 2016, 12:21
As we near the halfway-mark of the year, 2016 has shown that the global online gambling market still faces many challenges despite its exponential growth in recent years. While the issues facing the online gambling industry are varied and complex, the global games market is still forecasted to generate over US $81 billion by the end of 2016. With an estimated 5 million registered users already, it is clear that the industry is doing well.
Below are the top trends of the global gambling market in 2016 and beyond that are driving this phenomenal growth:
Strong Growth Driven By Mobile and Social Gamers
Mobile devices such as tablets and smartphones are already the channel of choice for existing punters and the convenience of gambling on the go is one of the biggest factors behind this markets’ growth. Through apps and web-based platforms, online gambling providers have seen the barriers to entry diminish and user numbers grow steadily in the first part of 2016. Another advantage is seen to be the adoption of online gambling by social gamers already on platforms such as Facebook.
Players of social games like Farmville are already used to the concept of micro transactions in free-to-play games and as such are quite likely to try other games based on real money when looking for new challenges.
The Rise of Online Offers
Despite the growth of the online gambling market globally, most platforms have had to use online offers as part of their strategy to entice new players to their products. Online offers are now seen as the norm and are now expected by both new and regular customers. For example, you can sign up and claim your free welcome offer at Euro Palace online casino and many other similar providers. The reason why online offers are now commonplace is that as the market has grown, so has the amount of online gambling platforms which has increased competition for new customers.
Wider Adoption of Virtual Currencies
Another trend that is seen to continue a strong upward trend is the adoption of virtual currencies by both players and gambling platforms, the most commonly known being Bitcoin. As with mobile use above, the adoption of Bitcoin by more platforms and players has driven growth as it offers many advantages including the elimination of transaction fees and more control over your money.
The trends above are set to be some of the biggest drivers of growth in the global online gambling market in 2016 and beyond. This should ensure that the industry faces the challenges of regulation and sustaining its current rate of growth in a stronger position throughout 2016 and the future.