Introduction Over the past decade, the online betting industry has seen tremendous growth, both in terms of revenue generated and the number of players using the platform. Online betting, also known as iGaming, is a form of gambling that is conducted via the internet. It includes a wide range of activities such as sports betting, horse racing, casino games, and Washington Post Today lotteries. The advent of online betting has revolutionized the gambling industry by making it accessible to a larger audience, increasing convenience, and enhancing the overall betting experience.
In this study, we will take a closer look at the growth and evolution of online betting, the factors contributing to its success, and the challenges it faces. Growth of Online Betting The online betting industry has grown significantly over the past decade. According to Statista, the global online gambling market size was valued at $66.7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2021 to 2028. The success of online betting can be attributed to various factors such as the proliferation of smartphones, improved internet connectivity, and the emergence of new technologies such as virtual reality and artificial intelligence.