Increased global access to the internet, the growth of legal online gambling across Europe and Asia, as well as the growing popularity of crypto-currency are just some of the reasons why the global online gambling market will be worth $94.4 billion by 2024.
Zion Market Research released a report this week, which covered all types of online gambling – from sports gambling to online poker.
According to the group, the global market will show a compound annual growth rate of nearly 11% between 2017 and 2024.
Europe has seen a big growth spurt and will continue to expand its legalized markets towards 2024. Legalization in Spain, France and Italy has created a big pool of online gamblers who continue to drive the popularity of online gaming sites.
Crypto-currency was also mentioned in the Zion Market Research report.
“At the beginning of 2017, the total value of cryptocurrencies was about USD 17.7 billion and is projected to rise over the next 5 years”, read the report. “Thus, the usage of cryptocurrencies in online gambling is anticipated to rise during the estimated timeframe.”
Zion Market said that its report gives a transparent view of the online gambling and betting market. It includes a detailed competitive scenario and portfolio of leading vendors such as Microgaming and other groups, in the online gambling world.