The online gambling market is one of the fastest-growing internet industries. Over the course of the past few years, it has become worth billions worldwide. A new infographic by Silicon Republic examines just how impressive online gambling’s growth has been.
According to the infographic, the worldwide value of online gambling was $30 billion in 2011. This includes profits from online lottery sites, regulated online casinos and offshore gambling websites. Together, all types of online gambling outlets generate billions of dollars, which should be an indication to non-regulated markets to pass online gambling legislation.
It also shows just how fast online gambling activity is increasing. From 2010 to 2011, online gambling activity increased by 32%. To put things in perspective social media activity only grew by 4.5%. It certainly is a remarkable feat; however, as online gambling became more accessible (via social networks and mobile devices), it was no wonder that the market would thrive.
The study also examines the most popular types of online gambling in both the United Kingdom and the United States. In both countries, state and national lottery websites were the most popular. In the UK, 40% of all gambling activity took place at lottery websites; in the USA, 63% of all gambling activity took place at lottery websites. Both markets presented similar market shares, with sportsbetting, online poker and online casino games also being quite popular.
The growth of online gambling is something that simply cannot be ignored any longer. It is important for worldwide governments to realize its value, regulating the market to ensure safety for its players and secure generous tax revenue.