The development of blockchain technology and the crypto industry has resulted in several fields. One of the prominent ones, among others, is online gambling. Gambling is one of the most significant businesses into which this ground-breaking technology has made inroads. According to industry analysts, global gambling is expected to reach $565 billion by the end of 2022, which is roughly equivalent to $68 for every person on the earth.
Where does this come from and where does it lead?
Based on the analysis and infographics provided by the website of cryptobetting.net, we can find the tendency of how online gambling expands over time. The website shows the value of the global online gambling industry from 2011 to 2020. During this time, the value of the mentioned industry doubled and reached $59.7 Billion in 2020. As mentioned, this number is still growing and will reach $565 billion by the end of this year.
In addition to that, the illustrations show average daily gambling time. The leading region, among others, is North America, which has resulted in 107 minutes as an average period of time in 2020. The infographic we present below also allows visitors to learn more about the top places with the biggest gambling revenue in 2021. These countries are Canada, the USA, the UK, Germany, Italy, France, Spain, China, and Japan. In all of these regions, it is important that regulators can understand how the casino operator facilitates payments for compliance and the sake of transparency for the players.
Where are these trends coming from? Why are there so many different kinds of cryptocurrencies popping up left, right, and center? We got the Dogecoin that somehow started as a meme but then became a real thing and not one of the weak cryptos either. Of course, a Dogecoin also has to be stored properly in a Dogecoin wallet but where does all of this lead us?
One of the main conclusions of the research is reflected in online gambling activities, which shows that most gambling enthusiasts who use cryptocurrencies to bet are gambling at bookmakers. As an example, about 43% of gamblers take part in sports betting, while others are gambling at casinos, playing the lottery, poker, bingo, and several other skills gaming.
Showing the data for crypto gambling trends
As time goes by and technologies become more and more developed, mobile phones are increasingly used in online gambling. Because of that, it’s not a surprise that the number of mobile users who gamble with cryptos has increased over time. Infographics show that from 2015 to 2020, the number of mobile users in crypto betting has doubled, while the number of laptop users has decreased by more than 20%.
It is also worth mentioning that the website shows the illustration of which cryptos are mostly used in the case of gambling. Because Bitcoin is the most popular one among other coins, it’s not a surprise that bitcoin casinos are a leader among other casinos. If you want to find more infographics for analysis and defining your future crypto betting strategy, you can see more of them below.
What is crypto gambling and crypto betting about?
What are crypto gambling and crypto betting? This is a question that many people are asking, as these activities are becoming more and more popular. Crypto gambling and crypto betting refer to the use of cryptocurrency to place bets or wagers on games of chance. This can be done in a number of ways, but the most common is through online casinos or sportsbooks.
There are many benefits to using cryptocurrency for gambling and betting. For one, it is incredibly convenient. You can do it from anywhere in the world, and all you need is an internet connection. Another benefit is that it is incredibly secure. When you use cryptocurrency, your personal information is not shared with the casino or sportsbook. This means that there is no risk of your information being stolen or hacked.
Use only money you can afford to lose
Finally, crypto gambling and betting can be incredibly profitable. With the right strategy, you can make a lot of money from these activities. Of course, you need to be careful and make sure that you are only gambling with money that you can afford to lose. But if you are smart about it, crypto gambling and betting can be a great way to earn some extra money or simply to have fun while playing.
Photo credit: The feature image has been done by Carballo. The infographic has been done by CryptoBetting.