[dropcap]O[/dropcap]nline casinos have millions of users worldwide, but every industry has faced challenges over the past two years. With life returning to normality, 2022 has been an exciting year as people have been able to travel more freely and enjoy themselves. With that in mind, how has the online casino industry fared? Have online casino users seen a boost in 2022?
Online Gambling Around the World
Looking at the global online gambling picture over the past few years, we can see a trend. Beginning in 2011, the online gambling industry was worth just over $30 billion. This figure has increased steadily yearly, rising to over $50 billion by 2017. Moving to 2021, this number increases to a staggering $61.5 billion. Therefore, the online gambling growth rate is expected to increase between 9% and 10% every year. There are over 3000 active online casinos around the world, which continues to grow. So, there is clearly a demand for online casinos, and many people have been searching for a top online casino in 2022.
2022 Online Casino Statistics
The estimated value of the online casino industry worldwide is believed to be somewhere between $65 and $70 billion. That is an increase in the figures from 2021 and shows online casinos have grown in popularity. Experts believe the trend will continue for many years, and by 2027, the online casino industry could be worth more than $120 billion. If we take some figures from the United States as an example, between August 2021 and August 2022, the total iGaming revenue for the month increased by over 20%. The online casino industry had a significant role to play in the increase in the iGaming revenue of the United States, and the same applies to other countries around the world. Moving to Europe and as of 2022, the online casino industry was the second largest online gambling component at 32%, with only online sports betting enjoying a larger market share.
Why Have Online Casinos Enjoyed a Boost in 2022?
There are several reasons why online casino users have seen a boost in 2022. Perhaps the biggest factor has been the opening of previously unregulated markets. This is especially true in the United States; more states are beginning to legalising online casinos. This is offering regulated online casinos to millions of people for the first time and will only increase the number of people playing online casino games. There have also been changes in Europe, with Germany and the Netherlands being two good examples. The German “Glücksspielstaatsvertrag” came into force in July 2021, making online gambling, including online casinos, legal in the country. The impact of that change is being seen in Germany in 2022. Changes were made in the Netherlands in October 2021 to regulate and legalise online casinos in the country, leading to more people using online casinos in Europe.
So, the online casino industry has seen a boost in the number of users and revenue in 2022. The progress is expected to continue into 2023 and beyond.
