Online Gambling Projected at $73 Billion in 2024 and Just Getting Started!

 

The online gambling industry is booming, expanding, and advancing at a rate that is boggling the minds of investors and innovators. It is predicted to bring in over $70 billion dollars just five years from now. The most basic reason for this rapid growth is that there is no better thrill for the average person than placing a bet and watching the results come in with the chance of hitting it big!

 

With a closer look, there seem to be two deeper reasons for this gambling surge. One is the technology of the internet itself. Everyday tens of thousands of people become connected to the internet for the first time, and more and more countries are ‘getting wired’ simply because it helps their economy.

 

The second reason is the availability of mobile phones. It has been said there are more cell phones in the world than people. The bookmakers have noticed and just about everyone of them has developed an application that will run on any smart phone. Therefore, a person can place a bet 24 hours a day, 7 days a week. And this is not just betting on horse races; it’s all the games in typical casino, plus many, many sports bets.

 

Governments are taking notice since there is huge tax income that can be generated from legalizing online betting. Plus, the licensing fees in the millions of dollars. It’s all very hard to turn a blind eye.

 

And it’s not slowing down!