Online Gambling To Hit $1 Trillion in 2022

Based out of Chineham, England, Juniper Research Limited is a forecasting and consultancy firm for digital technology markets. Its analyst team aims to deliver surveys, bespoke forecasts, and white papers concerning technological trends and market movements. In the past few years, they have noticed that an increased uptake in digital products, paired with positive regulatory changes concerning cash app online casinos and sports betting platforms, should cause a surge in online gambling bets hitting a global total of well over $1 trillion in 2022. More than the deficit added to the US national debt yearly, a significant increase from the estimated total online wagers placed in 2017 of $620 billion.

Per Juniper's report titled eSports, Let's Play & Watch Play: Monetisation & Engagement Strategies, old and new online casinos are the driving force behind the rise of internet bets, as they comprise around 40% of all wagers placed remotely. The American Gaming Association claims that over three thousand gambling sites are floating around the digital sphere. Most of these are internationally regulated and based in countries like Panama, Curacao, Costa Rica, and Malta. New ones seem to pop up every week, mainly due to the rise of cryptocurrency gaming. This sphere may lack gaming regulation, but it supplies fast transfer speeds, diverse game options, and anonymity.

Lauren Foye, the former Senior Analyst at Juniper that authored the cited research, now employed as the head of research at Zero Carbon Academy, believes that the infusion of new technologies drives the growth of the casino section of this market. Foye states - "New channels, kike chatbots can boost customer engagement by providing 24/7 support, and delivering personalized offers." Increased...