Juniper Research estimates that online bets would surge to $700B

The latest Juniper Research data reveals that when an escalated taking up of digital products go hand in hand with favourable online gambling regulation would prompt a considerable hike in the number of digital wagers in 2018. The Juniper’s Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2018-2022 affirms that there will be a huge leap in the total online wagers at least by 11.4 percent to $700 billion this year than just over $620 billion last year.

As per the findings of Gambling analysts the casino vertical will stay at the forefront of driving online wagers this year. Juniper forecasts that by 2022 when the global online gambling wagers reach a total of $1 trillion the number of online gambling users would double to 684 million.

According to the news outlet, Analyst Lauren Foye, said:  “We believe new channels, such as chatbots, have the potential to drive customer engagement, through the delivery of personalised offers, alongside 24/7 player support.”

In making its conclusions, Juniper accounted for the raft of global legislative changes such as the recent poker ban in Australia and significant disruption from social offerings.

Juniper portrays a rosy picture for online gambling, as they believe that new opportunities will emerge across the globe. It cited the North American market as ripe for future growth after seeing a number of U.S. states taking initiatives to legalize online gambling.

In October 2017, Pennsylvania authorised online casino and poker sites, daily fantasy sports, online lottery sales, mobile gambling at airports after legislators approved a sweeping expansion of gambling.

Pennsylvania joins Delaware, Nevada and New Jersey as the only U.S. states that currently permit some form of non-lottery online gambling.

Meanwhile, Juniper hailed LetsBet as one of the innovative start-ups that will shake up the current status quo in the online gambling market. It also expressed confidence that “providers in the online gambling industry, particularly in the casino space, will increasingly offer engaging products to drive user adoption and player spend.”