Incredible Statistics from the Online Gambling Industry
The online gambling industry will be worth $114.4 billion in 2028. This industry was worth about $61.5 billion two years ago. And if this astronomical growth astounds you, it is only the tip of the excitement iceberg. The igaming industry contains fascinating statistics indicating record-shattering growth and growing interest among players. Below, we take a look at the most intriguing:
Over 1.6 Billion People Gamble
Yes, you read that right.
According to world gambling statistics, about 1.6 billion people gamble, which is approximately 26% of the global population. Of this number, about 4.4% gamble online through Betway Casino and other sportsbooks and online casino operators. About 704,000 people access online casinos regularly every year, and these numbers keep growing.
The US and Europe Generate Over 80% of iGaming Revenue
With recent growths in the Canadian and Dutch markets, the North American and European sectors of the igaming industry are the most lucrative, raking in an astounding 80% of the revenue.
Europe is widely considered the nucleus of the regulated online gambling industry. Worth $40 billion in 2023, it is expected to grow at a 4.4% CAGR over the next five years. It currently houses several of the top ten online gambling markets in the world, including:
1. The UK
2. Italy
3. Germany
4. Spain
But impressive as the European market is, the US is the largest regulated online gambling market globally, surpassing the UK in 2022. The country recorded $10 billion in online sports betting revenue in 2023 and an additional $7 billion earned from igaming.
In 2024, Statista projects the US online gambling market will net $31.4 billion in revenue. Europe as a whole will net $46.7 billion.
85 Million People Play Online Slots Every Year
Unsurprisingly, online slots are the most popular casino game in the world. An incredible 85 million people play the game every year on casino sites like Betway, which offer scores of slot variations. Slots are popular because they are fun, easy to play, and have high RTPs.
Sports Betting Is the Most Popular Form of Gambling
When players are not enjoying the high-adrenaline fun of online slots, they are betting on sports.
Statistics show that sports betting accounts for 43% of the annual revenue the online gambling market earns, followed closely by casino games at 32%.
In the US, sports betting raked in $10.92 billion in revenue in 2023, up 44% from 2022.
Mobile Devices Generate 90% of iGaming Revenue
Whether betting on sports or playing casino games, at least 9 in every 10 online gamblers use their mobile phones to gamble. Mobile gambling’s market share has risen steadily since 2019, from 70% to 74% in 2022 to an astronomical 90% in 2024.
Over 30% of Bets Places Are Crypto
Data collected by Crypto Reporter shows that crypto bets between 2021 and 2022 rose by over 116% from $30 million to $63 million. In Q1 2023, crypto bets accounted for 30% of all bets.
Players have adopted crypto as a preferred transaction method due to its security, anonymity, and fast processing times. Accordingly, the most popular cryptocurrencies for bettors are:
1. Bitcoin (74.9% of users)
2. Ethereum (8.9%)
3. Litecoin (6.0%)
4. Tether (4.6%)
5. Dogecoin (3.0%)
Wrapping Up
With technology advancing at unprecedented rates and operators like Betway expanding into previously untapped markets, the online gambling industry is poised for more growth.
This means we are likely to see more fascinating statistics in 2024 and moving forward.
