It doesn’t take an expert to see that the iGaming industry has been growing over the last decades. We considered the issue and reached the same conclusion after extensive research. The industry growth is apparent and is likely to continue. Simple payment methods, such as the ones available at Bingo paypal sites, contributed to this progress.
The question is – what does the future hold for iGaming? If we analyse the current situation carefully, it might be possible to make accurate predictions on what will happen with the industry in the coming years. Here are some exciting forecasts!
Will Total iGaming Gross Increase by 2025?
Check out this report to learn about the worldwide iGaming income over the last two decades. The gross win was under €10 million until 2005 but had been growing ever since. If you look at the graph carefully, you will see that the growth was around €5 billion from 2016. That has been happening for four years now, and it’s safe to say the trend will continue.
According to experts, the estimated gross win for 2020 will be €52 million, and we will see it jump to €87.1 billion by 2025. The math indicates a 50% increase over five years and roughly 800% more than the industry had in 2005. Another statistical information is that CAGR will be at around 8.8%, which is impressive.
Why iGaming Is an Integral Part of the Global Gambling Gross Win?
The COVID-19 pandemic affected all areas of our lives, including entertainment. During the quarantine, we were forced to stay at home and turn to digital forms of entertainment. That included Netflix and video games, but also iGaming. It is why we shouldn’t be surprised if iGaming has the biggest ever growth in worldwide gambling gross win percentage in 2020.
If we check out the reports, we see that there has been steady growth, but the jump could be as high as 5% this year. Instead of 13.3% percentage of worldwide gambling gross win, the experts estimate iGaming will have an impact of 18.5%.
Since this growth was caused by unpredictable circumstances (pandemic), we can discuss if the revenue share will go down in the coming years. The odds are it will decrease, but the industry professionals claim it will take only by 2024 to return to the current 18.5% share.
Which iGaming Product Is the Most Attractive?
Those who join the iGaming industry as players can enjoy different products, such as:
- State lotteries
- Synthetic and skill lotteries
- Sports bets
- Race bets
The analysis shows that race betting still takes the top spot in this category. We know that visiting racetracks and placing wagers on winning horses has been famous for over a century. Today, all-around race betting takes 28% of the entire gaming industry.
However, casino games have made the most significant growth in the last several years. Providers worked hard on designing top-quality and fun games, and it brought results. Currently, the casino has a 27% share.
Sports betting is another significant area of the iGaming industry, with a share of 22%. While sports betting has also been around for a long, sports markets’ coverage has improved, and users can enjoy additional betting types on certain events. We see an increase in in-play (live betting) over the last several years. It was under 2% until 2013, but it’s currently at around 7% and will keep growing by16% in 2025. State lotteries are at the fourth spot with a 13% share, but still far from the top three.
As for bingo, it takes 5% of the revenue share, but this game attracts an increased number of players every day. The entertainment and social factors have moved from bingo halls to online rooms, and things just got better. You can pick from bingo rooms with detailed graphics and different game variations to secure an optimal playing experience.
The future is bright for the iGaming industry. An overview of the current situation shows us that the market had a successful 2020. It is safe to say that there will be steady growth in the coming years. If the industry continues working hard on offering innovations and top-quality service to customers, it might even exceed the estimated figures in the next decade.
The article is written by Bingo77 UK webmaster Julia Hughes.