Online gambling wagers value will soar to US$ 950 billion by 2021

Online gambling wagers total spend is forecast to exceed US$1 trillion for the first time in 2021.

According to data from Juniper Research, the value of online gambling wagers will soar from just over US$550 billion (€490 billion) this year to nearly US$950 billion (€845.95 billion) by 2021.

UK.- Juniper Research data reflects that the value of online gambling wagers will soar from just over (€490 billion) this year to nearly US$950 billion (€845.95 billion) by 2021.

Wager levels will thus approach total spend on all digital goods and services by that time, estimated to exceed US$1 trillion for the first time in 2021. Juniper Research’s investigation found that gambling activities were increasingly migrating to the online industry, with the majority of net growth attributable to users of mobile channels.

New technologies such as VR would provide a further stimulus to the online casino sector, which is expected to account for just under half of wagers by value in 2021. The new format of VR is expected to attract a niche clientele initially, though these participants will wager significant amounts on real world “casino-style” VR gambling products.

“User engagement goes a long way towards drawing in return business,” said Lauren Foye, the research author. “Providing features such as news and media on favourite teams, as well as personalised offerings based on past betting activity, enables greater engagement and is likely to reduce churn.’