The online casino market has skyrocketed in popularity within the last few years and shows no signs of slowing down, with its value expected to reach $153 billion by the end of 2030. This newly found demand has brought about several changes, from the way players enjoy their games to how the industry operates as a whole, calling for new legislation. As such, it is essential for both operators and players alike to stay on top of the ever-evolving industry by keeping up with the latest casino stats.
#1. Gambling With Cryptocurrency
It’s not breaking news that crypto is here to stay, so the rise in popularity of crypto casinos is expected to continue to grow, with experts suggesting that market size will achieve a $93 billion value by the end of 2023. Recent statistics have also revealed that since 2014, players have wagered more than $4.5 billion in Bitcoin. In fact, over the years, it has been reported that 4% of all online wagering has been conducted with crypto and shows no signs of slowing down, so we can expect that percentage to increase soon.
While online gamblers tend to favor Bitcoin and Ethereum as their cryptocurrencies of choice, quite a few online casinos have started to embrace a wider variety of digital coins, including Dogecoin, Ripple, and Litecoin, catering to all players’ wants and needs. Crypto gamblers are said to place 337 bets per second, amounting to $3 million worth of crypto daily. Moreover, 60% of all Bitcoin transactions are said to be related to gambling, thanks to the enhanced security, speed and anonymity the digital currency provides.
#2. Game Preferences
Gambling has historically been seen as a male-dominated industry, both on the casino floor and in the virtual realm. Although this statement still holds some truth across a variety of games, women have been shown to be more inclined to play games of chance such as bingo, roulette, lotteries, and slots. According to research, this is because women use gambling as a way to unwind, thus opting for low-risk games where not much effort is needed to achieve a favorable outcome as it is all about luck. These forms of gambling also involve small fixed bets that are set against the dealer, not other players, which women tend to prefer. They are also more readily available on mobile casino apps which is where women place 59% of their bets,
Male players, on the other hand, gravitate towards skill-based games that rely heavily on strategy. This is because they want to be able to have some control over the outcome of the game. Statistics have also revealed that male players prefer to compete against other players rather than bet against the dealer and crave the thrill and excitement associated with placing risky wagers. As such, you will most likely find male gamblers indulging in table games such as poker and blackjack.
#3. Spending Habits
Not only do different genders tend to have varying taste in games but they also do not share the same spending habits when it comes to online gambling. Casino’s should keep in mind that while women are more cautious, they also tend to deposit more frequently than men but in significantly smaller amounts. In fact, statistics have shown that women deposit an average of 32 times a year in comparison to the 19 times for men. Moreover, a female’s average monthly deposit amount has been recorded to be approximately €38.76 while for men it’s €54.14. However, if you were to look at the yearly amount, women spend more at online casinos depositing €1,143 yearly, to men’s €940.
#4. Most Popular Forms of Gambling
Studies have shown that the majority of gamblers worldwide prefer to enjoy their favorite pastime from the comfort of their own homes as opposed to brick-and-mortar establishments. The most popular online casino game was revealed to be the lottery due to its low stakes and worldwide accessibility. This is followed by sports betting, with the most popular sport being football, followed by horse racing and bingo.
#5. Most Profitable Market
The UK has the most profitable online gambling market, according to recent figures, ranking in a gross gambling yield of $12 billion. This news follows a study published last year which revealed that at least 43% of all Brits have gambled once in their lives, while 27% have engaged in the National Lottery. The United States comes in second with a gross gambling yield of $10.96 billion while Australia reportedly makes $6.55 billion and Italy $4.51 billion.