State Of The Market: Online Gambling Outlook And Review For Enthusiasts

The global online gambling market is projected to grow at a CAGR of 8.77% over the next several years, from 2019 to 2024.

The global online gambling market is projected to grow at a CAGR of 8.77% over the next several years, from 2019 to 2024. Online betting is the fastest-growing segment while “artificial intelligence, chabot[s], and machine learning have taken over the market,” according to industry reports.


Online gambling: An industry outlook

The current legislative “framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. The new law allows for online casinos, online poker, sports betting, and more. New Jersey is currently the largest market for regulated online gambling in the United States. 

In 2018, a landmark Supreme Court ruling legalized sports betting which opened “the door to legalizing the estimated $150 billion in illegal wagers on professional and amateur sports that Americans make every year.” As a result, online gambling companies will undoubtedly seek to capture market share as regulatory tides shift. Yet, online gambling regulations continue to hinder market growth in a large majority of markets.


Online gambling market poised for growth

Industry market research suggest the “global online gambling market is anticipated to be valued at more than 94 billion U.S. dollars in 2024. The current size of the market is almost 46 billion U.S. dollars, meaning the size is forecast to double in the upcoming years.”

Online casinos, specifically in the form of live gambling, are gaining considerable traction. Today, many gambling enthusiasts do not have the time or convenience to visit brick-and-mortar casinos. As a result, online casinos provide a platform for entertainment at the time of their choice and within the comfort of their homes.

Photo: Pixabay, Pexels
Photo: Pixabay, YFS Magazine

Meanwhile, technology has enhanced the feature capabilities of online casinos. Gambling enthusiasts are not just limited to playing one-on-one games on the computer. For example, AI, machine learning, and chatbots have made online gambling far more sophisticated. Today, platforms have the capacity to deliver highly personalized service for enthusiasts. It’s possible to enjoy playing games with other players. Long gone are the days when users needed a personal computer and a landline internet connection to access online games.


Mobile innovation has transformed online gambling

In recent years, mobile technology innovations have leveled the playing field for users to enjoy online blackjack, online roulette, and more, via smartphones, tablets, laptops, and other wireless devices.

Photo: Canva Studio, Pexels
Photo: Canva Studio, YFS Magazine

Initially, online casinos began with primarily offering two games: blackjack and roulette. Today, many online casinos offer a wide variety of games. Let’s take a brief look at online blackjack, for example.


Online blackjack tips for gambling enthusiasts


1. Find a trustworthy online casino

Before you let the games begin, identify trustworthy platforms that make data privacy and protection a priority. Consider various aspects including easy signup and deposit policies, game variety, bonuses offered, lead times for winning withdrawals, and the availability of live chat support.


2. Select your preferred blackjack version

Confirm the platform offers your preferred online blackjack game, which can include real money, free, and practice play versions that are available on desktop and mobile devices. Once you’ve selected a reputable online casino, create an account, review live game options, and search for blackjack to test your skills in the classic game.


3. Get familiar with the user experience (UX)

Upon entering an online blackjack room, you will find a blackjack table with a bet of cards, similar to a live stream blackjack casino at a physical location or on television. The dealer operates the first half of the screen, and in some platforms, you may hear other players laughing, talking, yelling, and screaming while wearing their headphones. The user experience is designed to make players feel as if they are sitting in a brick and mortar casino and enjoying a game.

As a beginner, you might feel somewhat awkward using chat features to connect with other players. Yet, after a few rounds and frequent site visits, many players become familiar and comfortable with the other players who also visit the same site frequently.


4. Learn the basic rules of blackjack

Various online casinos have different rules when playing live blackjack. So, it’s important to read and understand the rules of the game before you start playing.

The basic rules for blackjack (in a physical location and online) are the same, with slight variations. For instance:

  • In brick and mortar casinos, there are human dealers. Online casinos generally use pseudorandom number generators (PRNGs) to produce pseudorandom numbers (PRNs) that create results similar to a randomly dealt live hand.
  • The card deck is shuffled after every game in online blackjack, which makes card counting impossible.
  • Online players avoid common distractions generally found in physical establishments such as loud music, boozy players, etc. This results in improved concentration.
  • Online blackjack can be cheaper when compared to playing at brick and mortar casinos.

At times, players can over-indulge in online games, become obsessed, and decide to win at any cost. Instead, if you play for fun and entertainment, or competitive sport, remember to keep calm, be alert, avoid distractions, concentrate on the game, and play smart.


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