Mobile gambling hits a record peak of popularity. The latest research shows mobile gambling transactions grew 95% in 2018. Here’s why mobile is so popular.
The rise of mobile gambling
Mobile technology has redefined the Internet as we know it. The path from the first iPhone to cheap Android phones was fast and allowed people to browse the web without a laptop.
It’s only a convenience for people in rich countries, but it means the world to countries with low GDP like Uganda or Indonesia. Well over half of the people there use smartphones as their only way to access the Internet.
It’s cheaper than buying a PC or a laptop and covers most basic needs. One of the needs it covers is entertainment. The rise of smartphone usage over the years prompted developers to create thousands of gaming and gambling apps.
With the coverage that 4G provides and 5G soon to be adopted, most people are able to play games and bet online wherever they are.
Industry leaders respond well to this data. Right now, it’s either go mobile or die for them. This is why most big casinos offer to play the games on their platforms on mobile phones. They either create an app or make their website mobile-first. You’re also able to find a lot of gambling apps in Google or Apple Store.
This is what drives the increase in mobile gambling transactions.
The Iovation study
2019 iovation Gambling Industry Report has analyzed over 500 million transactions of more than 100 world’s leading gambling operators. The main thing this analysis allows us to see is that mobile transactions in gambling grew 95% in the recent year.
What’s more, they have been growing at that pace from 2012. In 2012, mobile gambling transactions amounted to 6% of total money being transferred. In 2018, that number was up to 70%.
The numbers do not yet correlate with the mobile gambling itself. What they show is the number of transactions involving a phone only. The actual share of mobile gambling is closer to 50%, as UKGC study shows.
The continuous rise of mobile gambling transactions is not the only thing iovation study found out. They have established the key factors that drive the industry today.
The opening of countries like the US, Singapore, and India to gambling means a major change of plans for the industry. As seem at CasinoHEX’s review on JackpotJoy ,major casinos are already planning to extend their marketing efforts to these countries. The US and India have over 1.5 billion people in total, so that market is sure to attract fierce competition.
Countries that do make online gambling legal reinforce strong rules to prevent fraud and money laundering. For instance, the UK ruled that all players must be proven to be over 18 before they start betting at a casino. They’re not just saying it either. The UK regulatory bodies are constantly on the lookout for violators.
The abrupt increase in fines is the next trend iovation finds. The aggregate fines for violators in the UK alone rose from meager £1.6 million in 2017 to £18 million in 2018.
The last trend is beneficial to people who struggle with problem gambling. During 2018, iovation found well over a million self-excluded accounts that tried to access a casino and failed to. This means the preventive system works well and keeps people from harming their finances, keeping gambling a safe industry.