A report by research agency Mordor Intelligence LLP predicts the online gambling will grow 8.77% over the next four years thanks, in part, to women.
According to the 151-page document, online gambling will be worth $87.75 billion by 2024. Headlining the list of drivers for growth are technology and innovation.
One of the more interesting takeaways from the report, however, is the impact female players are having on the industry.
Women Giving Online Gambling a Boost
Analysts at Mordor Intelligence have noted a “rise” in the “female casino population.” This point tallies with recent trends in poker.
Over the last two years, female participation in the World Series of Poker (WSOP) Main Event has increased from 3.8% to 4.1%. A recent survey of 2,000 women also supports the idea that participation is on the rise.
As per 888’s report, 44% of women surveyed said they’d played poker at least once. Of those that have played, 81% said they enjoyed it.
Outside of the gambling market, social gaming continues to see an increase in female participation. Data supplied by Global Industry Analysts shows that the number of women playing social games is increasing at a rate of 15.5%.
With platforms such as Zynga poker creating links between gambling and social gaming, growth in one sector has the potential to inspire growth in the other. Thus, there appears to be a correlation between the industries.
Although recent reports suggest more women are getting into poker and betting, not all of their experiences are positive. 888’s survey found that 47% of women feel that casinos are “intimidating.” Adding to that, 32% said they’re less inclined to play poker because of their gender.
The challenge for operators is to nurture women’s growing interest in gaming while dispelling certain stereotypes about the industry. In practice, the evolution of online technology will help.
Technology to Address Changing Demographics
According to the report from Mordor Intelligence, artificial intelligence (AI) is on the rise in the online gambling sector. Highlighting it as another driver of growth, the firm suggests AI and machine learning will improve gaming standards across the board.
This, combined with improved support via chatbots and cashless payment options, will increase online activity. The upshot of improved technology will be a better overall service and, in turn, a better environment for both women and men.
Like all forecasts, the data supplied is only a projection of what might happen. However, a 2019 report by Market Research Future predicted similar levels of growth. Assessing the period between 2019 and 2025, analysts stated that industry CAGR will hit 13.2%.
What’s clear from the reading of both reports is that interest in online gambling is increasing, and that women are playing a significant part its growth.