How Many Online Gambling Companies
If you’re interested in becoming a successful online gambler, you may be wondering how many online gambling companies are there. The market for online gambling is estimated to be worth 92.9 billion dollars in 2023. Today’s market is around 59 billion U.S. dollars, but this figure is expected to double in the coming years. In the next few years, we expect to see the popularity of online casinos to continue to increase.
The world’s largest online gambling companies are headquartered in Asia, Europe, and the United States. While there are many restrictions in the United States and Europe that limit how much a company can profit from, this market is booming. In 2019, casinos generated the majority of gambling revenue. By 2020, online gambling revenue is projected to surpass casino revenue and wagering. By 2023, online gambling will outstrip brick-and-mortar casinos.
The legacy US gambling industry contributes $137.5 billion annually to the U.S. economy, directly employing over seven hundred thousand Americans. While an estimated $150 billion of that is wagered offshore, it is estimated that online gambling companies are positioned well to capture a large portion of that market. As online gambling grows, competition will only increase. In the meantime, online gambling companies will compete for customers and market share. You might be wondering: How many online gambling companies are there?
How Many Online Gambling Companies Are There?
Another popular online casino is DraftKings. This popular daily fantasy sports company is also rapidly becoming a major player in the U.S. online casino market. It currently operates in West Virginia, New Jersey, and Pennsylvania. The DraftKings Casino in West Virginia took over 75% of the $50 million in wagers placed in that state during its first month. Today, the company has over 360 games in its portfolio.
While the number of online gambling companies has grown, the competition among these companies is fiercer than ever. In addition to bringing more innovative games to the market, new technology has also contributed to the improvement in overall quality of the games. Most of the online casinos use the latest technologies to make their games more appealing to players. Some even have games that use VR headsets. So, the competition for customers is growing at an exponential pace.
Although the industry has experienced a global recession and many regulatory issues, the overall balance sheet has remained healthy and positive. Despite its challenges, the industry is one of the most vibrant entertainment economies in the world. The industry’s growth continues to inspire others, so we’d love to see it continue. If you’re curious about how many online gambling companies are there, be sure to check out the statistics. You might be surprised by what you find!