Global Online Gambling Wagers to Approach $1 Trillion by 2021
Spend on Online Gambling Reaching that of Digital Good and Services Worldwide
Hampshire, UK - September 14, 2016 (Investorideas.com Newswire) New data from Juniper Research has found that the value of online gambling wagers will soar from just over $550 billion this year to nearly $950 billion by 2021. Wager levels will thus approach total spend on all digital goods and services by that time, forecast to exceed $1 trillion for the first time in 2021.
uniper's latest research, Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2016-2021, found that gambling activities were increasingly migrating to the online environment, with the majority of net growth attributable to users of mobile channels. It also argued that new technologies such as VR would provide a further stimulus to the online casino sector, which is expected to account for just under half of wagers by value in 2021.
Drive for Consolidation: Ensuring Customer Loyalty
The research argued that within an increasingly consolidated and maturing sector, providers had intensified their focus on securing customer loyalty. It observed that leading players were exploring a range of options to achieve this, with Ladbrokes offering a rewards scheme and the Rank Group's Grosvenor business providing cross-channel memberships.
According to research author Lauren Foye, “User engagement goes a long way towards drawing in return business. 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.'
Other Key Findings Include:
- Despite a general trend towards regulation, a number of countries (such as the Philippines) have hardened their stance in recent months and have moved towards outright prohibition.
- Whilst a number of leading sportsbook providers, including William Hill and 888 now offer Bitcoin, Juniper believes that the cryptocurrency is unlikely to see mass-adoption, even in the gambling space.
- The new format of VR will attract a niche clientele initially, though these participants will wager significant amounts on real world 'casino-style' VR gambling products.
The whitepaper, Online Casinos ~ Gambling on Loyalty, is available to download from the Juniper Research website together with details of the new research and interactive dataset.
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.