The exploded adoption of online gambling can be well understood from the fact that the market was worth USD 57.54 billion in 2021, and is projected to grow at a CAGR of 11.7% between 2022 and 2030. The growth of the global online gambling market is being driven by the increasing popularity of online games in public places and at home, thanks to smartphones and fast mobile internet. The market is also being boosted by cultural and legal approvals, easy access to online gambling, celebrity endorsements, and corporate sponsorships. Due to the availability worldwide of affordable mobile apps, the market will continue to grow.
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The entire online gambling industry isn¡¯t to blame for the actions of a few criminals. Making it illegal to gamble online, however, is seen by some as an extreme solution. Results of studies have shown that legalized gambling provides tax revenue benefits and allows governments to offer better consumer protections.
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