The global online gambling market size is expected to reach USD 73.45 billion by 2024 because of rising prevalence gambling across the world. Advancements and inclusion of new regulations are expected to improve market demand. Furthermore, effortless accessibility to online platforms and increasing adoption of smartphones and tablet computers are expected to drive the marketplace.

Organizations are focusing on developing mobile applications with safe money transfer facilities to ensure punters can easily place their bets online in real time. For instance, companies such as Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have cellular applications on various platforms like iOS and Android. Moreover, a number of nations are currently legalizing gaming. For instance, at December 2016, the parliament of Japan passed a law after holding it for 15 decades to legalize casinos.

In 2016, the sport betting segment led the sector and accounted for more than 40% of the revenue. It comprises various sports tournaments such as other games, basketball, tennis, and cricket. As an example, the sports gambling segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to increasing football tournaments and cricket leagues. Increasing number of people betting on accessibility and events to software and internet gambling websites are expected to present substantial growth opportunities.

The online gambling and betting industry is expected to increase at a faster pace due to regulatory environment. Moreover, rising disposable income of consumers and also adoption of Internet-based devices are increasing revenues of the gambling market worldwide. Certain areas are very likely to record growth due to stringent government regulations.

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