In recent years, strong technological developments have created favorable conditions for the development of the online gambling and gambling industry. The online gambling industry is growing rapidly. According to statistics, the global revenue of the online betting and casino industry reached nearly 60 billion USD in 2020 and is expected to increase to 130 billion USD by 2027.
The explosion of online betting and casino sites has created a “golden era” for the online gambling industry. Large betting companies such as Bet365, William Hill or reputable casino floors such as Baccarat, Evolution Gaming, Dream Gaming… continuously launch new and diverse products with many attractive incentives to attract customers. player.
The advent of blockchain technology and cryptocurrency also creates conditions for online betting floors and casinos to expand the global market, helping players participate in betting more easily and conveniently.
However, along with the development, the downsides of online gambling such as gambling addiction, risk of fraud, hacker attacks… are gradually becoming social problems in many countries. According to statistics from the World Health Organization, about 5% of the global population has problems with gambling addiction, of which the proportion of people addicted to online gambling accounts for 18-24%.
Faced with that situation, many countries have issued laws prohibiting or restricting people from participating in online betting and casinos. Some have imposed high taxes on betting companies and online casinos operating in their countries or blocked access to illegal gambling websites. Anti-gambling organizations have also been established in many countries to raise people’s awareness about the harmful effects of excessive gambling.
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However, the online betting and casino industry is still growing strongly. The need for entertainment and the opportunity to make money quickly through gambling still attracts a large number of participants. Experts predict this trend will continue to increase in the coming years, especially with millennials and Gen Z.
The online betting and casino industry promises to grow even more strongly and explosively in the future. However, countries also need to soon take strict management and control measures to minimize the negative harm to society caused by excessive gambling.