For 2016, the research group predicted that the industry will be at USD 42.63 billion. "The nature of the market leaves very little scope for service differentiation which is currently restricting the entry for new players,” the firm said in a statement. "Furthermore, the policies and regulations surrounding online gambling and betting are also highly stringent in several regions, leaving little scope of growth for new entrants.”
TMR also pointed out that the many online gambling and betting companies are leaning toward smartphone gaming as the number of consumer electronics being used by the day in all countries and across all economic levels increases.
The research firm said that consumers using smartphones, tablets, and other portable electronic media and entertainment devices are currently a high priority demographic for the global online gambling and betting market.
"The expansive scope of consumer reach that these players can achieve through the use of smartphone apps alone is strong enough for them to consider creating standalone gambling and betting portals for mobile users,” according to the report. "This allows the global online gambling and betting market to generate a staggering amount of income from users that like to play or bet using their smartphone on the go, rather than having to access websites on PCs or kiosks.”
Aside from smartphones, TMR said that the incorporation of virtual reality device has also contributed to the growth of global online gambling and betting market.
Source: GMB / Calvin Ayre
