A one-way bet: gambling is going to grow and grow
The desire to bet “has been part of human nature [since] time immemorial”, says Russ Mould of AJ Bell. However, as many people have found out the hard way, one of the iron rules of betting is that while individual punters can do well, for the majority the long-term outcome is that the “house always wins”. This is why the global gambling industry is worth $475bn and will reach $550bn by 2023, estimates Professor Leighton Vaughan Williams, director of the betting research unit and professor of economics and finance at Nottingham Business School.
The internet has supercharged the sector
One part of the industry expanding at a rapid pace is online gambling. Part of this is due to lockdowns, which have “increased engagement by existing online players” stuck at home, says Williams. However, he expects this part of the market to keep growing at breakneck speed even after restrictions are removed and things return to normal. While it still only accounts for $60bn in sales, around 15% of the overall sector, this figure should rise by 50% to $90bn over the next two years.
Lockdown restrictions aren’t the only factor driving online growth, says Maksym Liashko of online betting firm Parimatch. He thinks that
