Online Gambling Wagers to Reach $1 Trillion by 2021

Online gambling wagers research

Researchers say that online gambling wagers will reach $950 billion by 2021 as gambling activities are shifting towards online and mobile interfaces.

Juniper Research’s recently released “Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2016-2021” research gives detailed insight into the latest developments of the online internet casino market. The new data found that online gambling will “soar from just over $550 billion this year to nearly $950 billion by 2021.” The paper shows that online and mobile casinos are gradually replacing brick-and-mortar venues.

The majority of online gambling wagers come from mobile devices

As the market is maturing, online casinos are focusing on customer loyalty by providing reward schemes and other attractive features. Virtual Reality will also help the online gambling sector and is excepted to bring in almost half of the wagers by 2021.

“Providing features such as news and media on favourite teams, as well as personalised offerings based on past betting activity, enables greater engagement and is likely to reduce churn,” said the author, Lauren Foye.

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