A Final Calvin Ayre Report Outline the Robust Growth for the Booming iGaming IndustryPublished March 11, 2021 by Lee R
The iGaming market is in fine shape globally, with EU still leading the charge.
As CalvinAyre leaves the gambling space, the iGaming news site leaves a comprehensive report for the near future of the global market.
Popularity with Youth Established
Before the pandemic hit, it was already clear that the increase in popularity of iGaming among youth is the primary factor driving growth.
The pandemic channeled many more users to online play as well, turning iGaming into the fastest growing sector in gaming, and one of the fastest growing online sectors in the world.
Casino Operators Ramp Up
Casino operators are preparing to scale up across the board. Fortune Business Insights (FBI) research estimates the iGaming gambling market to top $158 billion by 2028.
The new Insights report Online Gambling Market, 2021-2028 forecasts the $66.72 billion segment to expand from 2020 at an annual growth rate (CAGR) of 11.4% over the next seven years.
Lockdowns Increased Online Engagement
The report identifies COVID-19 and the subsequent government-led lockdowns to drive many companies to online models and remote offices as a catalyst for online gambling growth in kind.
The report confirms the rise in popularity of digital platforms in large emerging iGaming markets such as Canada and Australia (67% rise in casino spend for April 2020), revealing the pandemic period to drive a healthy CAGR of 11.2% to a market value of USD 74.17 billion in 2021.
Ranking the Contributors
The EU is still enjoying the highest market share, even as crackdowns on ads and other player protections proliferate the jurisdictions. The EU market worth has been reported at $30.92 billion, and is expected to continue leading, driven by sports gambling.
North America has already risen to become the second-leading regional earner since repealing the PASPA act in 2018, with South America rising towards the top of the ranks in a market where jurisdictions are just in the beginning stages of regulation.
Technologies which will drive growth include Artificial intelligence (AI), which is only now coming to the forefront of iGaming.
We can only thank Calvin Ayre for this final report leaving the iGaming industry in fine shape as he shutters his iGaming content on his now legendary website that helped build iGaming into the booming industry it has become today.