How The European Casino And Gaming Sector Is Changing

The online casino and games industry in Europe is expanded at its fastest rate in its history which has been driven by more favorable gambling laws and technological advance. While traditional games at casinos such as UK slots remaining popular other types of skill-based gaming are catching up due to the demand on the next generation of gamblers. It is estimated that worldwide there are now over 2 billion gamers that generate in excess of $100 billion each year and is on the rise.

There are many different sectors that make up the gaming industry with some such as smartphone growing rapidly and others such as PC in decline. Mobile technology has been at the forefront of driving innovation in the marketplace and has seen double-digit growth over the last couple of years. It is estimated that this sector alone by 2020 will produce over $65 billion which is remarkable when you consider it only produced less than $40 billion back in 2016. The main area of growth in mobile gaming has come from China which is estimated to generate over $50 alone by 2020.

In Europe, the amount of gamers that are playing between the ages of 33-44 is on the increase. This was the first generation that experienced games consoles and there loves for playing games has not declined over the years. Gamers aged between 18 to 24 still dominate the amount of time spent along with having the most players but there has never been so many older generation that plays games on a regular basis. In fact, it is estimated the 45-64-year-olds spend 7.5 hours each week playing. This is greater than the amount of time spent by the younger generation of 33-44 as they only spend 6.5 hours each week.

By the year 2020, the revenue produced by online gambling is expected to each over €24.9 billion in Europe which over a five year period is an increase of around €10 billion. In the UK the gambling market is one of the strongest in the world and ranks second in terms of size in Europe and fifth overall. Leading the way is China followed by the USA and then Japan with a large percentage of wagering taking place illegally.

There are over 30 million people from the UK that play games on a regular basis. By 2020 it is estimated that more than £7 billion will be spent on gambling online with over £15 billion in total revenue.

The growth projections for the whole of Europe are all upward and the industry is at one of the most vibrant points in its long history. New technology such as the blockchain and smart contracts are providing new innovations at breakneck speed in the sector so by 2020 expect to see crypto gambling at the forefront of development.

Conclusion

If the laws and regulations to stay the same across Europe the industry will continue to thrive. New technology over the next five years will help to make gambling safer and more transparent which is great news if you like to have the occasional bet.