Various types of online gambling include casinos, sports betting, virtual poker, betting on horse racing, and lottery games. The first online gambling venue for the general public was the Liechtenstein International Lottery.
Teens and young adults use online gambling sites
Despite its illegal nature, young adults are using online gambling sites to gamble. A recent study from the Center for Addiction and Mental Health (CAMH) revealed that young adults are regularly gambling online.
Among the participants, regular gambling was reported by 13-18% of males. The majority of participants had played on only one or two sites. During the past three months, nearly 10 percent of adolescents gambled online.
Compared to adults, young adults gambled more frequently. Sixty-six percent of young people saw advertisements for gambling online. In addition, 66 percent of them reported seeing gambling promotions on social media.
Asia-Pacific region generates least
Despite the fact that gambling is illegal in China, the country’s gambling industry is still on the rise. As more countries legalize gambling, more money is being made by the operators.
The Asian gambling industry has always been associated with the bright lights of Macau. Besides the big name companies, the industry is also home to some smaller and more nimble operators. These include Omni Slots Play, Fair Go Casino, and Bet365 Sportsbook Play. Some of these operators have announced multi-billion dollar investment in 5G networks.
Global gaming revenues are expected to grow
Increasingly, the gambling industry is no longer bound to racetracks and keystrokes on a computer. It is now easy to access gambling venues from the comfort of your home. As a result, policy makers and researchers have raised the potential threat posed by the ease of access. Gambling is increasingly marketed to young people through advertising on social media. In fact, a recent study by Ipsos MORI has found that 96 percent of 11-24 year olds see gambling marketing messages on social media.