MARKET OVERVIEW (Gambling Market)

In 2023, the gambling industry accrued a market size of $72 billion US dollars. Furthermore, the industry is projected to reach a market size of 112 billion dollars by 2025. This upwards trajectory will only continue as technology advances and the number of mobile phone users worldwide also continues to grow. In 2021, there were 7.1 billion unique mobile users, making up 90.6% of the global population. In the US, 62.1% of online gamblers used their mobile devices as opposed to 3.1% sticking to desktops. Laptops and PCs will continue to decline annually as the preferred device, especially amongst younger demographics.

Gambling attracts a broad spectrum of age groups. In the West, approximately 32.8% of online gamblers were 45-54 years old, 28.8% were 35-44 years old, and 25.2% were 25-34 years old (Statistica, 2021). With iGaming continuing to attract younger demographics already entrenched in mobile devices and social media.

be of particular interest to those looking to socialise and play at the same time.

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