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Online gambling trends kept the traditional industry afloat during lockdown restrictions associated with the COVID-19 pandemic. As of February 24, 2022, the growth of online gambling worldwide is expected to double in the next five years nearly.
Valued at $72.3 billion in 2021, the online gambling market is expected to be worth $131.4 billion by 2027.
This year is a pivotal one for the future of online gambling Cricket ID.
Let’s take a closer look at some of the online gambling trends to follow in 2022.
Online Gambling Industry Overview
The online gambling industry pertains to sports betting, casino games, lottery, and bingo. Users access these sportsbooks and games through desktop platforms or mobile apps.
The industry spans from North America to Europe and the Asia-Pacific region and elsewhere worldwide.
Online interest surged in response to COVID-19 lockdowns. Some brick-and-mortar establishments also went digital.
Machine learning and artificial intelligence (AI) also transformed the online gambling industry. By integrating metadata, users get a more personalized experience.
Promotions and sign-up bonuses also contributed to economic expansion in a competitive marketplace. Ongoing sports betting legalization efforts continue to expand the industry across the U.S.
Betting on football and horse racing tends to dominate. Popular online casino games include slots, blackjack, and roulette. Live casinos also added real-time dealers for poker and table games.
Online gambling should grow much faster than traditional wagers through casinos and sportsbooks.
5 Online Gambling Trends for 2022
Online gambling’s popularity in 2022 represents a combination of many aspects. The main ones include sports betting legalization, pandemic restrictions, and viable internet access.
These factors contributed to gambling becoming less taboo and more mainstream.
Here are some of the online gambling trends for 2022.
Football Betting Dominates the Industry
Football (soccer) betting is a major part of the online gambling market. The FIFA World Cup and European Championships are extremely popular across Europe. Gambling companies formed partnerships with leagues and teams across the continent.
This trend is only beginning in the U.S. (And not just in the National Football League.)
An NFL divisional playoff game between the Kansas City Chiefs and the Buffalo Bills in January 2022 had more than 34.5 million viewers. That peak came in the wake of the U.S. gambling market doubling in 2021, with wagers totaling more than $52.7 billion.
One of the primary factors of sports betting legalization across the U.S. comes from football’s widespread popularity. (Taxable income for the states.)
With dozens of bookmakers located in the U.K., football dominates the online gambling industry in the U.S. as well.
North America is the Fastest Horse in the Race
North America also remains the fastest-growing region when it comes to online wagering.
In 2018, the U.S. Supreme Court sided with the sports betting industry. Since then, the gambling industry exploded.
The legalization of sports betting spread to 30 states and Washington, D.C.
Before legalization became widespread in the U.S., Canada also had a mostly unregulated online gambling market (Approximately 75% – 85% of Canadians gamble.)
Mexico reportedly seeks to integrate the online industry with its traditional casinos.
Thus, the North American continent represents one of the largest markets in the online gambling industry. Strong growth in the region is expected for the foreseeable future.
Competition is Fierce with Mergers and Acquisitions
With economic growth and expansion comes fierce competition. That remains one of the ongoing trends in 2022. Partnerships between gambling companies, professional leagues, and sports teams drive the industry forward.
Mergers and acquisitions also reflect a staunchly competitive marketplace.
Some of the most high-profile examples include:
*Caesars Entertainment’s (Las Vegas) $4 billion takeovers of William Hill (U.K.)
*Penn National Gaming’s purchase of Barstool Sports for $450 million
*DraftKings’ purchase of Golden Nugget Online Gaming for $1.5 billion
Other top companies include Flutter Entertainment, Entain, MGM, and Bet365.
Competition among these major players in the online gambling industry remains high.
AI Continues to Improve the User Experience
AI in the online gambling market includes personalizing the user experience. Players may get bonuses and loyalty rewards based on their behavior and risk assessment.
As AI becomes more popular in gaming, its impact in the gambling industry also translates to better protections for user data and more secure financial transactions.
Through AI, platforms can spot cheaters, which helps protect online casinos’ integrity.
AI also helps to improve customer service through messaging and chatbots.
A good reputation is paramount for online sportsbooks and casinos. So look for major companies to continue using AI to improve their customer service and streamline their platforms for better performance.
This is a trend designed to help attract and keep new customers.
Widespread Use of Cryptocurrencies for Deposits and Withdrawals
Many popular online sportsbooks and casinos now offer various options for deposits and withdrawals in cryptocurrency.
Players making deposits in Bitcoin, Ethereum and many other cryptocurrencies could even get bonuses explicitly designed for crypto.
These transactions offer anonymity with faster payouts and better security.
Crypto transactions give players and companies the added benefit of remaining outside the traditional banking system. (Away from government overreach.)
Find out where you can use crypto for your wagers and more at the best offshore sportsbooks for 2022.
Overall, the online gambling trends to follow in 2022 remain centered around the most popular sports to watch. After the Super Bowl, the NCAA March Madness tournament brings in some of the highest sports betting volume for the year.
UEFA Champions League soccer draws some of the largest betting handles outside the U.S.
At the end of the year, the FIFA World Cup is another massive sporting event for the gambling industry.
Playoffs and championship matchups in the NBA, MLB, and NHL should also serve as a litmus test for where the market is headed.
As the pandemic wanes, the online gambling industry is expected to soar to new heights with no signs of abating anytime soon.