Global Gambling Market To Reach $635 Billion By 2022, New Research SaysRevenue From Gambling To Grow About 6 Percent A Year: Study |
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Global revenue from gambling is expected to reach $635 billion by 2022, according to new findings out of Dublin, Ireland from Research and Markets.
The worldwide gambling market will grow by nearly six percent from 2016 until 2022, the research said. “Increasing smartphone and tablet penetration, increased device capability and the confidence of users are driving the market growth,” the group said.
“Asia Pacific is the major region growing in this market due to the emergence of major casinos in the region that are operated by the US-based companies which will divert some of the US overseas-derived business in the region.”
Gambling is front and center because many countries are looking to beef up their respective tourism industries.
In a different study by Morgan Stanley, it was found that the global gambling market was $423 billion in 2014. Casinos are among the largest industries on earth.
Recent findings from research group Technavio said that online gambling in the US will hit $4 billion by 2020. The US land-based casino industry is worth about $70 billion a year.
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