Betting has always been one of the biggest hobbies in the world, with the first example of betting being over a thousand years ago. When betting was first made popular it was mainly popular for things like Fencing and Dice games. As sports like horse racing became more popular betting started to grow and as technology got better and more people began to bet, we are seeing the impacts that better has had on our culture.
With betting, we can clearly see how much it has grown even over the last decade. Between 2017 and 2023, the online gambling industry has had a revenue increase of around $57 billion. We can use this number as a basis for the growth of online betting over the next few years.
Sports Betting
But first, we should consider the biggest part of online betting, which is sports betting. Sports and betting are two things that go hand in hand, a lot of sports fans love to be in the sports that they love. As a sports fan who bets, I know that it enhances the sport that I already dedicate a lot of my time to.
Casino Betting
As much as sports betting is the biggest and my favorite type of gambling to do, that doesn’t mean that other types aren’t massive either. In 2023, online casinos made up nearly 33 billion dollars worth of revenue in the gambling industry. The casino industry is growing faster than ever before with the likes of sweepstake casinos, esports casinos, and other variations entering the market. It’s quite an exciting time actually as us consumers are spoilt for choice.
Despite the new variants, it is still the more traditional games, like the online casino games at Boylesports which make up a big chunk of the revenue. This includes games such as online slots, live games, table games, bingo and more.
Technology Affects
Like with most things in the world, betting will be subject to big changes as technology improves. Whether betting is changing with AI usage by betting companies or if the developers can use these technological advances to improve their games and their looks.
We can already see that technology is affecting the way games look and are played. Looking at some of the first slot games compared to now, we can see a clear shift in the look and the speed of the games. This is one of the things I am most excited about with technology improving, the developers being able to make things look and feel better will bring a lot more players to the games which results in more money for the gambling industry.
Physical Casinos
With online gambling making billions a year, we know that that side of the industry is safe, but do physical casinos have the same luxury? The short answer is no, unfortunately, people are less willing to go to casinos when you can play all the games you love and more, from the comfort of your own home.
The atmosphere of a casino will never be replicated by playing at home and as a fan of the games that a casino can offer, I would love for physical casinos to have a lot of success too. However, I can see casinos being less common as online casinos grow.
Is The Trajectory Good?
It is reported that by 2029 the gambling industry will have a revenue of over $130 billion, which is over a hundred billion more than its 2017 revenue. This is obviously incredible for betting agencies around the world.
The extra money that the industry makes should be issued correctly and if it is, it will result in even more players. Whether it’s more marketing being used or the games themselves getting revamped, we should see betting and gambling improve dramatically.
For bettors like me and you, we could be treated to a massive improvement in an industry we already love.
