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Can Gambling Become A Trillion-Dollar Market?

The gambling industry, particularly online, shows no signs of peaking, with increasing legalization efforts across the United States fueling growth prospects. Poker's global appeal, both in professional tournaments and online formats, contributes significantly to this expansion, with players honing their skills in digital environments. While the exact size of the global gambling market remains elusive, conservative estimates place it at around half a trillion dollars, with projections indicating significant growth, especially in the online gaming sector, potentially reaching half a trillion dollars by 2030. With the proliferation of mobile technology and strategic adaptations by gambling companies to cater to digital consumers, the industry is poised for continued momentum, possibly reaching a trillion-dollar market cap by the mid-2030s or 2040, aided by favorable legislative environments.
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Christian McDeen | Caesar of Lands of Betting and Live Casino

Updated: Mar 13, 2024

Can Gambling Become A Trillion-Dollar Market?

It doesn't feel like the gambling market has peaked, especially online. If anything, with a whole array of locations in the United States looking to legalize online gambling and sports betting, the current room for growth is making the gambling industry look like one of the most attractive investments throughout this decade. Many hedge funds and institutional investors have already entered the market, and with colossal pension funds putting their money into these investments, the capital is there to act as fuel to continue pushing the industry into higher levels of profit – but is a trillion-dollar market cap attainable? Let's break some of the elements down individually.

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As one of the only casino games with a viable, professional tournament, the scope and the interest in poker are global. In addition, poker has several different caveats; you can play video, virtual or live dealer games online or in a physical casino. Although many poker tournaments rely heavily on understanding your opponent's strategy, body language, and psychology, a surprisingly large number of players prefer to play online instead, which requires some different skills. In online poker, the onus revolves around the quality of your hand and dissecting the probabilities, and the emphasis on psychology and body language is greatly diminished. 

That doesn't mean there aren't elements of strategy, and many professional players have played online games to sharpen their skills. Understanding the importance of poker hands odds is imperative, though, especially if you're looking to become a competent online poker player. However, because of the internet, there's a much broader market that people can explore, and it's much easier to find rules, strategy, the specifics of poker hands, and live tables thanks to these advancements. 

While some poker players voiced concern over the rise of online services, there's room for both to operate within the industry. You can even read up on poker strategies, such as how players use psychology to gain an advantage and sharpen their skills for all types of poker, just by browsing online.  

The poker industry will grow immeasurably and play a key role in pushing the entire gambling sector toward a trillion-dollar market cap. Casino gaming has been why gambling operators have generated such colossal gains over the last few decades. While gambling has been a multi-billion dollar enterprise for over half a century, the advent of smartphones and the tech boom resulted in the gambling industry riding the crest of a wave. Running with these innovations and developing new dimensions of gaming, the gambling industry has propelled the profit margins into hundreds of billions of dollars.  

The Current Size Of The Gambling Market

It can be hard to pinpoint the exact size of the global gambling market due to the sheer number of operators and the volume involved. However, most conservative estimates and analysts have placed the current figure at around half a trillion dollars. Over the last few years, various reports have put the global industry between $400 and $450 billion. To put this in perspective, the largest European country of all time, the enormous LVMH, hit a $400 billion market cap in January 2023.

How The Rest Of The Decade Looks

The most exciting aspect for gambling companies is that many believe this is only the start of a golden era for digital gambling; this includes sports betting and casino companies. The online gaming market alone is projected to be worth nearly half a trillion dollars by 2030, and this doesn't account for the land-based casinos and physical sports betting shops dotted throughout the world.

Final Thoughts

As a society, we drift toward a world where mobile phones are the epicenter of everything. Twenty years ago, mobiles were considered a fairly luxury item, and if you lost your phone, it wouldn't be the end of the world. Nowadays, if you lose your mobile device, it is all hands on deck; it has everything on it, such as pictures, social media, and bank accounts, and is our one-stop shop for everything. 

The gambling industry spotted this seismic shift decades ago and has prepared exceptionally well. As we continue to head toward a world where mobile phones continue to become more crucial and more widespread, and with the gambling industry spending tens of millions of dollars a year in designing games that are ideal for mobile gamers – this momentum will undoubtedly continue, at least until the very end of this decade. 

One key component that will decide whether or not this industry can push past the incredible feat of a trillion-dollar market cap is favorable market conditions. Given that waves of new legislation have come into place in America, resulting in dozens of more states allowing digital gambling, with several more set to follow, this could be the final push it needs to accelerate into one of the titans of global industry. While 2030 might be a bit of a push, don't be surprised to see the entire sector worth over a trillion dollars by the mid-2030s or by 2040.

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