Global Casinos Market Reports Indicates Steady Growth
A study by Market Research Inc. has recently completed its detailed analysis of the current size, shape, and likely future trajectory of the online gambling industry. Called the Global Casino Market Report Forecast 2016-2025, this document takes great interest in a range of connected areas. These cover measures such as examinations by device, region, type, and segment forecasts.
This report lists the accepted value of the total global online casino size in 2016 as $48.52 billion. During the 2019 to 2025 period, their analysis has predicted a total compound annual growth rate of 11.5%. This growth, as explored, is thought to be due to the several key features.
The first of these comes from the greater ease of access which is enabled through improving mobile connectivity. Mobile ubiquity has seen commensurate growth alongside the online casino market, and this further penetration is reported to continue this trend. As the ease of online connectivity still improves with each passing year, and the relative cost of this engagement drops, the prediction is that past growth should remain mostly predictable. Unreliable mobile networks have already been highlighted as the biggest challenge facing operators, so improvements in this area are pivotal.
While all different types of these gambling systems forecast growth, the proportion of this growth is not evenly distributed. It is general casino games and sports betting which the report claims are best primed for expansion, while poker, bingo, and other games will see comparatively lower overall levels of development.
Of similar importance within this report are details on recent innovations, major events, and the global distribution of different forms of gaming. By taking into account regional differences, and their place within micro and major markets, they anticipate different approaches depending on the given physical or digital locations.
As one of the largest studies of the online gambling sphere in recent years, expect this report to generate heavy interest and influence among many major casino operators. The most likely changes here will likely relate to existing online casinos adopting higher levels of sports betting adoption, though it also raises questions as to the future of brick-and-mortar establishments.
The relevance of this study within South Africa’s own gambling sector cannot be understated. A 2009 NGB report concluded that, at the time, roughly 29% of South African’s engaged in some form of gaming. With all the different forms combined, this contributed to around 1% to SA’s total GDP, or around $3.4 billion.
Since mobile use has expanded significantly since 2009, as has mobile gambling integration, this would suggest a growing contribution in the years to come. At this point, South Africa has around 22 million active smartphones, which is expected to grow to 26.3 million by 2023. Therefore, catering to mobile access is continuing to increase in importance for websites and many different online casino services both in South Africa and abroad lean on this idea in order to ease accessibility, bringing with them additional bonuses such as free spins and deposit matches to stand out in a competitive market.
It is entirely possible that given these shown trends, we could see a greater number of traditional parlors expanding their businesses into the online front. So far, many casinos have been reticent to mix these two arms of the casino business, but the growing importance of online opportunities could be the final push many traditional casinos need.