Online Gambling Revenue Set to Soar to Greater Heights in 2017

Jan 21st, 2017 – The market size of online casinos is steadily increasing each year. According to Statista, in 2009 the sector was worth $24.73billion, and that rose to $45.86billion last year. A report from Yahoo finance detailed how the market is projected to expand at a compound annual growth rate of 10.8% by 2024. There is a strong correlation between the booming online casino industry and the equally successful mobile market, and the two will work hand in hand to gain even more revenue this year.

Even with the advent of virtual and augmented reality, wearable technology devices, and super-advanced computers, the smartphone is still king. And popularity in Apple and Samsung’s annual releases isn’t waning; it is, in fact, increasing as the products become more advanced. Last year the smartphone market grew by 1.1%, with Samsung still dominating despite having to recall the Galaxy Note 7. Other smartphones have also burst onto the scene, such as the Google Pixel, and Nokia plans to release two Android offerings in 2017. The total global revenue from smartphones is a whopping $421.8billion. Fashion trends and the desire to upgrade means that the same people pump money back into the industry year after year.

Along with smartphones, 20% of people in the US own a tablet. 90% of time spent on mobile devices is spent using apps, according to research from Smart Insights. This is the main reason why more online casinos are now trying to develop their own apps to be used on smartphones or tablets.

Currently, a lot of gambling websites will allow users to access their accounts from numerous devices that include laptops and smartphones. Sites such as Comeon Casino are available from any device using a web browser, featuring sports betting, casino games and video slots by NetEnt, Microgaming and GameOS. But in many cases, the list of games that are designed to play on mobile isn’t as comprehensive as the list playable on desktops. It is expected that online casinos will look towards developing their own standalone apps to secure the huge demographic that prefers to play their games on the move.

Things like VR and AR could end up working in conjunction with these apps. Plans for virtual casino games are already well underway, with Microgaming’s VR Roulette (see video above) and Casino VR Poker by Oculus Rift ready to hit the mainstream in 2017. Players would be able to log on to the online casino apps from their smartphones and then put on a VR headset to play the games. This is, of course, relying on the projected success of VR, which hasn’t quite managed to take the world by storm just yet.

The online gambling industry isn’t just flourishing because it is working well with the hugely popular mobile sector. It is continuously succeeding because of its willingness to adapt and evolve along with changing technological landscapes. Now that more people play on the move, the games are being designed to suit mobile screens. If VR manages to take off, expect the online casinos to act, and produce more games in this format in the future. For now, it is mobile gambling that rules the roost.