The global Online Gambling market is expected to grow at a CAGR of 11.5% over the next five years, according to a report by Allied Market Research. The growth of the sector is expected to be driven by increasing consumer spending on leisure activities and adoption of new technologies such as bitcoin. In Asia Pacific, China, India, and Japan are the major revenue generators of the industry. However, the industry is also facing significant challenges, such as increased cybercrime. The main sources of competition in this industry are mergers and acquisitions, new product launches, and partnerships.
While online gambling has become an increasingly popular activity in the past few years, its potential dangers remain, especially for those with gambling addictions. For example, there is a high risk of exploitation of vulnerable people and children, and the payouts are not always fair. In addition, Internet gambling is very addictive. For these reasons, GamCare provides resources and support to help people avoid problems caused by online gambling.
Various laws governing online gambling vary from country to country. Some countries have state-owned casinos and do not issue licenses to foreign operators. Others allow only licensed operators.