Press release - ReportsnReports - Gambling Software Market Global By Overview, Industry Size, sales, 2020-2027 - published on openPR.com The global online gambling market size is expected to reach USD 127.3 billion by 2027. Increasing usage of smartphones as a medium of gambling, rising internet penetration, easy access to gambling, and corporate endorsements are some of the major growth factors According to the latest estimates, in mid-2020, the market size of the global casinos and online gambling industry reached a total of 227 billion U.S. dollars. Nevertheless, the industry makes a total contribution of around 137.5 billion U.S. dollars to the U.S. economy annually and directly employs more than 730 thousand people. Worldwide, the gross... According to The American Gaming Association (AGA), the gambling industry in the US is worth $261 billion and supports 1.8 million jobs in 40 states (1); however, gambling has had a difficult (and illegal) history in the USA and it is just up until now that the path is being cleared. Online Gambling Market size surpassed USD 55 billion in 2019 and is anticipated to grow at 16.5% CAGR between 2020 and 2026. The advent of several new technologies, such as AI, VR, cyborg, and machine learning, will drive market growth. AI technology is helping online casinos to enhance user interface and identify high-risk gamblers. Currently, the market size for the legal sports gambling market in the U.S. is $238 million; however, the illegal sports gambling market in the U.S. is estimated to be anywhere from $1.6 billion to $11.9 billion. The actual illegal sports gambling market is nearly impossible to pin down due to the underground nature of illegal activity.
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