Online Gambling Become More Prevalent
The question of whether online gambling has become more prevalent is one that has plagued the world for years. The answer is yes, but the impact on society must not be understated. In addition to its negative health consequences, online gambling also carries the risk of debt. It’s easy to get carried away with winning and gambling online can easily lead to debt and a lack of financial discipline. This is why responsible gambling is essential to ensure a healthy future.
Researchers in Sweden recently published a report that revealed that the proportion of people gambling has decreased or remained stable compared to May 2014. However, this resulted in a slight increase in online gambling activity. Overall, 79% of respondents said they had increased their gambling frequency, but only 6.5% reported a decrease. The survey showed that men and younger people were more likely to increase their online gambling frequency, but that older adults and Maori were less likely to do so.
Most online gamblers use mobile phones. But as the internet becomes more ubiquitous, people are increasingly accessing the internet via laptops, PCs, or tablets. Despite the increasing popularity of mobile devices, PCs remain the most common means of accessing online gambling. Only one in five people use tablets to access online gambling. However, laptop usage has declined in recent years, and older gamblers are more likely to use them. In the coming years, PC usage will stabilize, as smartphone usage is on the rise.
However, the ban on online gambling in New Zealand has not led to an increased number of gambling. The ban reduced the number of people who were worried about the risk of a gambling addiction by nearly 20%. In the UK, it’s estimated that 350,000 people suffer from gambling addiction. While many countries have restricted access to online gambling, most sites remain freely accessible, posing a huge risk of an uptick in gambling addictions during this pandemic.
Has Online Gambling Become More Prevalent?
While online gaming has been around for years, its popularity is now exploding across the globe. Several operators have reported a 77% increase in business in the past year. In Australia, it was 67% more. And in Great Britain, online gambling increased by 17%. As a result, the Swedish government introduced online gambling limits and plans to keep these limits in place for the duration of the COVID-19 pandemic.
Legalization of sports betting has boosted the growth of the online gambling industry. This is especially true in the United States, where the Supreme Court recently legalized it. Moreover, the growing number of female consumers has contributed to the online gambling industry’s growth. The cashless mode of payment has made online betting more convenient for consumers, making the market ripe for new developments. Various companies are focusing on developing innovative platforms and ensuring that their services remain accessible.
While legalizing online gambling in the US is not guaranteed, it’s clear that online gambling will continue to grow. The global market for online gambling is projected to reach $67 billion by 2021, with analysts predicting that this growth will continue to accelerate through the next few years. While there’s a lot of uncertainty in the future, there’s no doubt that it will remain the main propagator in the future. Legalization of online gambling is a boon for consumers and for tax revenue.