Growth in Online Gambling Present Bitcoin, Crypto Opportunities

From Blockchain to...
User avatar
howlermunkey
Site Admin
Contact:
Location: East Coast
Posts: 1194
Joined: Tue Feb 20, 2018 12:04 pm

Growth in Online Gambling Present Bitcoin, Crypto Opportunities

Thu Jul 26, 2018 3:31 pm

The expected growth in online gambling is seen to provide significant opportunities to Bitcoin and cryptocurrencies, according to a new study by ResearchAndMarkets.com.

In a press statement, the researchers estimate the global online gambling market to grow at a CAGR of 10.5% during the period 2018-2022.

“One trend in the market is the introduction of Bitcoin gambling. Bitcoin is a type of cryptocurrency that allows peer-to-peer payments on the Internet. With the growing popularity of bitcoins, many vendors are adopting gambling with the use of bitcoins as a currency. This is due to advantages offered by cryptocurrency over normal currency,” the statement reads.

According to the researchers, the gambling industry is one of the growth drivers of the economy with its significant contribution to the market. It added that the gambling industry is a major contributor to the rise of the host country's economy.

In 2017, gambling contributed 0.91% to the US GDP (gross domestic product). It added that the lottery industry, a significant segment of the global gambling market, has contributed to job creation.

However, the report recognized the market is faced with the challenge of high-risk factors. “Although the profit margins are high, one of the major factors hindering the growth and expansion of the online gambling market is the huge risk involved in running the business,” the statement added.



Read more: https://cryptovest.com/news/growth-in-o ... rtunities/

Return to “LEARN”