2020 was a testing year for everyone and we all had to make changes to our daily lives. One of the major things to change was how we spent our free time and millions of people could not leave their homes. This led to an increase in the number of people looking for things do within the home. Two of the most popular activities were streaming television shows and online gaming, the latter of which saw a significant increase in demand.
A study showed that spending on online gaming increased between February and April of 2020. Online gaming was used not only as a form of entertainment but also as a way to socialise. The beauty of many online games is the ability to play with other people from around the world without having to leave your own home. You can play and chat with other people online using video games and casino games, both of which saw an increase in numbers.
Taking online casino games as an example, we have access to a wide range of online casino brands and it is easier than ever before to choose a safe and secure online casino. Live casino games feature a real dealer, and it is possible to interact with the dealer during a game. Live poker games are another good form of online gaming entertainment that involves socialising with other people.
Moving from 2020 into 2021 and the online gaming industry, especially iGaming, showed no signs of slowing down. The global online gambling market was worth $64.13 billion in 2020 and early figures show that number increased to $72.02 billion in 2021 at a compound annual growth rate of 12.3%. Fast forward to 2025 and forecasters believe the global online gambling market will be worth $112.09 billion.
Looking specifically at the United States, iGaming set a record of $901 million in revenue during the quarter of 2021. The first half of 2021 alone in the US was worth $1.66 billion in revenue for the iGaming industry, which is more than the total amount of $1.55 billion in revenue for the whole of 2020. So, it is safe to say in terms of iGaming, it did continue to rise in 2021 and quickly surpassed the figures of 2020. The fact new states legalised online casino gaming and sports betting clearly has a role to play in the increased figures but that is a trend that has continued across the world.
The Netherlands and Germany have recently introduced new laws. In October 2021, the Netherlands opened regulated online gambling for the first time and players in the country can participate in iGaming legally. 10 operators were initially awarded gambling licenses to operate in the Netherlands and the end of 2021 was an exciting time for the Dutch in the iGaming industry. Germany also made a move to legalise iGaming in 2021 and this has led to an increase in the number of people participating in online gaming in the country.
So, online gaming did rise in 2021, and did so in a more significant way than the previous year.
Please play responsibly. For more information and advice visit www.begambleaware.org