In recent decades, the mobile industry has increased significantly.
Mobile phones are not considered a luxury for the rich anymore; they have become a common gadget for many.
In a world where much of a person’s life is associated with a smartphone, mobile gambling is more than just a temporary trend.
Keep reading this post to know about the dynamics of the segment, its current status, benefits, and prospects.
Mobile Gambling: What Is the Secret of Its Popularity?
As smartphones are now much more affordable, many other industries – including gaming – have adapted to these changes and have become targeted at those who regularly use mobile devices.
This allowed gamblers to play from almost anywhere and at any time.
Mobile gambling is a specific branch of online gambling that emerged shortly after the advent of virtual casinos.
There are two aspects that are key to the development of mobile gambling – improving technology and expanding Internet coverage.
In the last two decades, the mobile phone has evolved from a means of communication into a device that can replace a number of other useful gadgets – from a camera to a personal computer.
The more advanced the model of the cell phone is, the easier and faster it is to run virtual games.
Internet coverage also plays an important role as it actually imports gambling services to the most remote corners of the planet, opening a lot of opportunities in new markets.
What Changes Are Currently Happening in the Gaming Industry?
The positive dynamics of the industry are mainly associated with the psychology of modern people. Most of us are accustomed to performing many actions on the go, including leisure activities.
According to data provided by researchers, the GGR of the mobile segment has grown significantly since 2003 and now stands at a rate of about $25.2 billion.
In 2003, the market share was at the level of 6.6%. In 2013, the segment managed to win back almost a quarter of all transactions, which is close to 24.3%. This year, the figure reached the rate of 40.4%.
In addition, the share of the mobile segment in the entire gaming industry is 42.6% now.
And this figure has a steady upward trend for more than five years in a row.
Some operators in this market report that most of their revenue comes from mobile gambling now.
The current regional map of the mobile segment share shows that the number of mobile transactions is 47.9% in Africa. In Asia, 40.8% of transactions are performed from mobile devices.
This figure reached 42.4% in Europe and 27.3% in North America.
The researchers’ forecasts for the next few years are based on the assumption that the segment will develop progressively.
So, next year GGR will amount to $28.8 billion, and a year later, it is expected to reach the rate of $33.1 billion. By 2025, the segment’s revenue is projected to reach $37 billion.
Risks and Benefits of Mobile Gambling
The study run by the Gambling Commission of the United Kingdom was aimed at obtaining additional information on how mobile gambling fits into the daily lives of players.
Its purpose was also to understand how people feel about mobile games compared to gambling in general, so the study focused on people’s opinions, not just statistics.
Many respondents said that there was no need to visit land-based casinos since there are many online gambling sites that they can access from personal computers and mobile phones.
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Gambling has become much more convenient, and they can now play anywhere and anytime: during sports matches, at a bar, or at home on the couch.
However, many people are concerned about the possible consequences of such a comfortable way of playing.
Since they can now launch the game with just a few taps on their smartphone screen, many are feared that gambling may become an integral part of their lives.
This may lead to a severe gambling addiction since the gaming device is always at hand, so people can play for hours without stopping.
Mobile gambling has also been found to help overcome social barriers.
For example, there are widespread stereotypes in society that bingo is a game for the elderly and women, while sports betting is a male pastime.
If you play from a mobile, no one can interfere with your game or condemn you.
Thus, those who previously avoided certain games of chance can now safely enjoy any of the entertainment.
Another important point is that players perceive mobile gambling as something similar to gaming and social networking.
The two have one thing in common – both are the activities that people spend most of their time on.
What Are the Forecasts for Mobile Gambling?
The GGR segment is projected to reach $41.4 billion in 2024. Market share is scalable and will exceed 50% of all gambling operations.
Anyway, mobile gambling is becoming a stable trend and putting down its roots.
With all the above in mind, it is no wonder that gambling experts predict such stable and significant growth.