$88.70 billion in 2023. Up $24.47 billion from 2022. And this was an increase of $40.52 billion compared to 2021. The market size of the global online gambling industry is racking up huge numbers that are only getting bigger by the year. The rise of online gambling might have gone under the radar for some, but for those involved in the industry, the potential is sky-high. The online gambling industry has attracted the attention of many interested parties, and within the tech industry, more companies are wanting in on the action for a slice of the market value.

The past, present, and future

Although potential is the key word, gambling itself has been around for centuries. Various countries have enjoyed greater exposure to gambling, and some are new to the scene, especially in its current online format. The UK can classify gambling as an activity fully ingrained in its culture and it is no surprise to see the UK market towards the top of the list for revenue made from online gambling in the country. However, it is not only the numbers that interested parties will look at. It is the levels of interest and established position in the UK entertainment market that will be of huge interest and for tech companies especially, the model of online gambling is certainly of high value and interest. 

From gambling amongst friends in saloons, to land-based casinos all over the UK, online gambling has marketed itself as a valuable asset and an industry to keep an eye on for the future. Why is this? Simply because the current progression of online gambling is perfectly set up for the future. Tech companies will be interested in many characteristics displayed by online gambling, which might not be popular now, but are very much designed for the future. Trends like cryptocurrency and virtual reality technology have not received worldwide acclaim yet, but at the rate tech is advancing, it will only be a matter of time before they are widely recognised and used.

Riding the tech advancement wave

Despite some setbacks in the UK online gambling market, owing to spending limits and financial background checks, tech companies will still see the UK as a lucrative market. Outside of the UK market, there are online gambling platforms of interest to be found at nongamstop online casinos at the daily star, as well as international online casino providers. While there are plenty of other sectors for tech giants to invest in, such as the communication and electronics industries, online gambling is an entity that is constantly evolving with a society that is being increasingly reshaped by technological advancements. With more backing from tech companies, that online gambling wave will only get bigger.