The worldwide online gambling market size is anticipated to achieve USD 73.45 billion by 2024 owing to increasing prevalence gaming throughout the world. Technological advancements and addition of new regulations are expected to boost market demand over the forecast period. Furthermore, access to internet platforms and growing adoption of smartphones and tablets are anticipated to drive the market.

Companies are focusing on creating mobile applications with secure money transfer facilities to ensure punters can quickly place their stakes on line in real time. For instance, companies like Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have mobile applications on various platforms such as iOS and Android. Furthermore, a number of countries are currently legalizing gambling with each passing year. In December 2016, for example, Japan’s parliament passed a law after holding it for 15 23, to legalize casinos.

In 2016, the sports led the sector and accounted for at least 40 percent of the earnings. It comprises various sports tournaments like basketball, cricket, tennis, and matches. For instance, the sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 because of rising soccer tournaments and cricket leagues. Growing number of people betting to internet gambling websites and applications on easy access and such events are anticipated to present growth opportunities for the marketplace.

The online gambling and gambling industry is expected to increase at a faster pace due to positive environment. Increasing disposable income of consumers and also adoption of Internet-based devices are increasing earnings of the online gambling market worldwide. However, certain areas are likely to document sluggish growth because of strict government regulations.

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