Report says global gambling market will reach US$635 billion by 2022

According to new findings out of Dublin, Ireland from Research and Markets, global revenue from gambling is expected to reach US$635 billion by 2022.

Ireland.- Global revenue from gambling is expected to reach US$635 billion by 2022, say new findings out of Dublin, Ireland from Research and Markets. The report also said that worldwide gambling market will grow by nearly six percent from 2016 until 2022.

“Increasing smartphone and tablet penetration, increased device capability and the confidence of users are driving the market growth,” the group said. “Asia Pacific is the major region growing in this market due to the emergence of major casinos in the region that are operated by the US-based companies which will divert some of the US overseas-derived business in the region.”

Gambling is front and centre as many countries are looking boost their respective tourism industries and are willing to relay on the gaming industry to do it.

A different study by Morgan Stanley, found that the global gambling market was US$423 billion in 2014. Casinos are among the largest industries on earth.

Recent findings from research group Technavio said that online gambling in the US will hit US$4 billion by 2020. The US land-based casino industry is worth about US$70 billion a year.