The online gaming and gambling market has grown significantly in the past few years. And the relative launching of new casino sites is responsible for the fast growth of the I-gaming industry.
Today, there are thousands of online casinos, and it has become challenging to choose the best one. If you’re looking for resources on the best site to gamble online, then this Jack998 casino review for Singaporeans is a good start.
Amid the frenzy to make money from online casinos, it’s easy to get lost in the sea of helpful and rookie betting tips flying around. So instead of talking about betting tips, this post walks you through 5 fun and exciting facts about the online casino industry in 2022. Enjoy!
1. Mobile Casino Gaming Is on the Rise
How do you think most people access casino sites? You’re absolutely right if your answer is through mobile and handheld devices.
The Jack998 online casino and other betting sites have long foreseen smartphone dominance and mass adoption. More than 80% of online gamblers will access their favourite casino and betting site through smartphones in 2022. And they have optimized their games and websites to provide the same fun experience as playing on a desktop. So, today, punters can play various i-games on mobile without glitches.
The future of mobile gambling will only get brighter from here on. A report by the Cisco company forecasted that internet usage will likely reach 5.3 billion in 2023, and over 6 billion people will own a smartphone next year.
2. Online Gambling Is Estimated to Gain More Market Share in 2022
You would be forgiven for thinking the Covid-19 pandemic will crash the online gambling market bubble. However, much to the dismay of naysayers, the online gambling market has skyrocketed in revenue and adoption since then. You can download poker app for real money.
The online gambling global market revenue report 2022 shows that revenue is expected to increase by 10% CAGR from $73.42 billion in 2021 to $81.08 billion in 2022. Online casinos, lottery, poker, sports betting, and bingo will account for the most significant percentage of the total revenue.
As smartphones gain more adoption and the global economy heals from the Ukraine-Russia war, revenue from betting is expected to grow even further. If all goes well, the total wagering profit could top $100 billion in 2026.
3. Massive Adoption of Emerging Technology
While many businesses are slowly reluctant to change, online casinos continue to adopt new technology to improve their services. Jack998 casino uses AI, cryptocurrency, and virtual and augmented reality technologies to give players the best experience for their money while expanding its reach.
Top online casinos use artificial intelligence to deliver instant responses to players’ queries, check fraud, and monitor players’ gambling habits. The use of cryptocurrencies in online casinos also allows punters to deposit and withdraw their funds without hassle.
Finally, live dealer and mixed reality technologies help to blur the line between virtual and physical gaming by adding a more realistic and human touch to I-games.
4. Europe and Pacific Asia Boasts the Fastest-Growing Gambling Market
Online gambling continues to witness more adoption globally, but Europe and Pacific Asia top the online gambling adoption charts in 2022. Over 50% of Singapore, Hong Kong, Macau, and Chinese residents participate in at least one form of online gambling. The sports betting market is also prominent in India as most residents love to bet on sports matches such as the ongoing T20 tournament in Australia. This is because most Asian countries have relaxed their online gambling rules. Sportsbetting, lottery, and horse racing are now legal in many Asian states. However, online casinos are still illegal.
Licensed offshore casinos such as Jack998 casino in Singapore provide the best route to play real money casino games in Asia.
Europe has one of the most flexible gambling laws and active internet gamblers. For instance, online gambling accounts for more than 60% of Sweden’s overall betting market. The number of active gamblers in the UK has also continued to grow yearly. However, the United States still contributes the highest percentage to global gambling revenue.
In Africa, Kenya and Nigeria are the most gambling-friendly nations, with nearly 60% of residents participating in sports betting at some point in time.
5. The Margin Between Male and Female Gambler Is Small
Although most countries have recorded more male gamblers than females, online gambling is loved by both genders.
The margin between male and female gamblers has reduced significantly in 2022. The number of female accounts has increased, and participation has skyrocketed. A decent fraction of punters that login to Jack998 casino and other top betting sites weekly are women.
Most online casino audiences are between the age of 20-45, which is no surprise since millennials and young boomers are the most internet-savvy generations.
Online casinos have become a dominant section of the gaming and gambling market. There are multitudes of online casinos everywhere you look. Most of these casinos are cash grabs looking to scam players, and only a few are reputable. After thorough scrutiny, we recommend Jack998 online casino for Singaporeans looking for a safe site to play real money games. Check the Jack998 casino review above to learn more about the bonuses, the registration process, and how to login to Jack998 casino.