A global survey has highlighted that the popularity of online gambling platforms has been rising exponentially and it is really increasing the revenue in this industry. Not just in developed countries, the demand for online gambling has been rising in developing countries as well. And it is simply due to the rising technological advancements in the developing countries.
A high number of people have been participating in online gambling to entertain themselves and earn a huge amount of money into their pockets. As per the available data, the global gambling industry is expected to reach the mark of $565 billion by 2022. In the year 2018, the total size of the global gambling market was valued at $449.3 billion and it will see growth at a CAGR of 5.9% from 2018 to 2022.
And the increasing digital revolution has been playing an important role in the overall growth of this gambling industry. There is an availability of a number of bookmakers who accept rupees on their online platforms to allow people to create their accounts for participating in the online gambling games. The high participation of people in online gambling is also due to the legalization of online gambling in many developing countries.
The governments of developing countries have been making use of the revenue earned from legal gambling operations to provide the required funding for educational developments. And hence, they have been legalizing the registered online gambling operations in order to put a check on the operation of illegal online gambling operations on a large scale. The use of effective online marketing strategies and bonuses by online gambling platforms is simply leading to an increase in the demand for such platforms on a large scale.
