The Growing Demand And Legalization Of Gambling Will Drive The Global Amusements Market

The global amusements market, valued at $511.3 billion in 2018, will grow to $652.6 billion in 2022 at an annual growth rate of more than 6%. The growth of the gambling market, which is a segment of the amusements market, will be an important driving factor. Gambling is being legalized in both developed and developing nations. In 2018, the Supreme Court of the USA legalized sports betting in the country. Following this ruling, several states have legalized sports betting, and others are considering to legalize it. The Law Commission of India has urged the government of India to legalize sports betting in the country. The legalization of gambling activities such as sports betting will push the demand for gambling, thus driving the amusements market growth.

Changing gambling habits of consumers is also driving demand for gambling activities. The increasing popularity of gambling apps and social gambling will propel the growth of the market going forward. The global social casino market is expected to reach $4.64 billion by 2020, growing at an annual rate of 5%.  The increasing adoption of mobile devices and increasing internet penetration will drive the demand for online gambling, thus driving the overall amusements market. Mobiles are a predominant part of current lifestyles and most games which feature on online casinos can be easily downloaded via an app on smartphones, and players can get an enhanced gaming experience. Mobile gambling is fast, convenient and provides easy access to the games. As of 2017, over half of the adult population in the UK have mobile gambled at least once.

The historic period between 2014 to 2018 saw an increase in the number of female gamblers. The presence of women-centric online casinos such as Pink Casino, Maria Casino, and 888 Ladies supported female gambling participation. In 2017, female gamblers accounted for 41% of the total gamblers in the UK.

The increasing use of social media and access to mass media is another positively influence on the global amusements market. Visitors in amusements facilities such as amusement parks like sharing their experiences, photographs and videos on social media platforms which helps other people know the experiences offered by the amusement parks. According to a study conducted by Visa, a cards and payments company, 73% of Asians check-in online while on a holiday and as many as 71% people share their experiences on social media sites. Social media is the most effective marketing tool for amusements facilities such as casinos and amusement parks to acquire new customers.

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