Global Mobile Gambling Market 2017-2021
About Mobile Gambling
Mobile gambling offers players an opportunity to gamble at any time and anywhere. The major advantage of the mobile platform is that it attracts many casual gamers. These are gamers that have no experience of gambling of any form. With the rapid technological advances in mobile devices, gambling has become a more immersive and personal experience. The present era is the mobile-first world, and Google declared itself as a mobile-first company in 2009. Since then, various industries have started following this trend, and the gambling industry is no different. Smartphone and tablet adoption has been massive with over 4 billion mobile devices being in circulation worldwide in 2017. This has exponentially increased the potential market of mobile gambling. For mobile gamblers, mobile devices offer a more immersive experience at much lower prices than before. When smartphones were first released, they accounted for a high unit cost.
Technavio’s analysts forecast the global mobile gambling market to grow at a CAGR of 18.84% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global mobile gambling market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of mobile gambling.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mobile Gambling Market 2017-2021
Technavio recognizes the following companies as the key players in the global mobile gambling market: 888 Holdings, Bet-at-home.com, Bwin.Party, and Ladbrokes
Other Prominent Vendors in the market are: Betfair, Unibet, and William Hill.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Vendors accepting cash alternative. In the global mobile gambling market, rewards are given in the form of coupons or monetary benefits. A major trend in the market is the acceptance of cash alternatives, such as virtual money or cryptocurrency, by vendors. For instance, the mobile gambling market in Nevada, US, allows players to use virtual money. This has reduced the risks related to cash transactions. Payment options through online cash transactions and virtual money enable the distribution of prize money in the form of redeemable coupons, which can be worth more than cash. These coupons can be used to play other games as well. This also provides vendors information regarding customers' spending history, which helps them customize their marketing plans and games accordingly.”
According to the report, one of the major drivers for this market is Increased interest among the younger population. Mobile gambling attracts the younger population, which is something that traditional brick-and-mortar casinos have failed to do. Mobile gambling increases the reach of gambling to sections of the population that do not visit casinos or betting bars. The average age of a casino visitor is 48 years, whereas the average age of an online gambler is 34.5 years and mobile gambler is 32 years. This further indicates a paradigm shift in the state of gambling from brick-and-mortar casinos to mobile gambling. In the current market scenario, it is essential for businesses to attract the millennial generation to prosper in the future. Mobile gambling is successfully attracting the younger population, which is a factor that will drive the market growth.
Further, the report states that one of the major factors hindering the growth of this market is Mobile gambling invoking addictive behavior among low-income population. Mobile gambling is not legalized in many countries because it invokes addictive behavior among players. Gamblers become prone to impulse control disorder, which can be either because they want to recover losses or are greedy to win more. Such players are willing to gamble more regularly for higher stakes. Governments of countries are trying to control the reach of mobile gambling among the low-income population that may not be able to afford the losses.
888 Holdings, Bet-at-home.com, Bwin.Party, Ladbrokes, Betfair, Unibet, and William Hill.
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