Reports Predict Major Growth For Online PokerIndustry Expected To Grow By 11% Through 2030 |
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Despite some recent security scares, a new study paints a rosy outlook for global online poker over the next several years, with the industry growing from $59.4 billion in 2022 to $155.4 billion by 2030.
The study was conducted by the firm Research and Markets, and predicts that over that time online poker will see an annual growth rate of 11.1%. The report makes note of market trends and believes that the industry will continue to see major growth as technological advancements add significantly to the products offered by various operator platforms.
A Look At Some Trends
The study points to a maturing industry with a keen insight on attracting players. Operators’ focus on bonuses, promotions, and loyalty programs remain successful means of player retention and market expansion.
Since the pandemic, online poker has seen another boom and the report notes that tournament play continues to drive many players to the game because of the opportunity of winning a large amount with minimal buy-ins.
More jurisdictions also continue legalizing online gaming and poker, offering additional opportunities for industry growth with one particular market standing out.
“Europe emerges as a standout market, propelled by the sanctioning of online betting activities, bolstered by high disposable incomes and a penchant for leisure pursuits amongst its citizenry,” Research and Markets reports.
High-Tech Additions Drive Industry
On the technology side, playing while on the go remains a positive for the industry. More platforms are focusing on their mobile offerings, making getting in the action even easier and propelling user engagement.
Also, according to the study, other opportunities for continued growth include blockchain technology, allowing for enhanced security and transactional efficiency. Improved payment methods also make the entire process easier as well. Seamless integration across traditional PCs, tablets, smartphones, gaming consoles, and arcade games also continue adding to gaming companies’ bottom lines.
Most players are probably not surprised to learn that the study points to the popularity of Texas hold’em and its grip on the industry as poker’s most popular variant.
“The continuous reign of Texas hold’em poker, lauded for its simplicity and array of variants, such as no-limit and pot-limit, maintains a significant market share due to its enduring popularity among both novices and seasoned players.”
The news comes as the overall gaming industry continues to grow, according to recent statistics from the American Gaming Association. The commercial gaming industry saw $16.3 billion in revenue for the third quarter of 2023.
Those numbers are also in line with recent projections for the continued growth of the casino equipment industry as well.
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