The report forecasts significant expansion of online poker around the world
A new study conducted by the data analysis and research firm Research and Markets predicts that the online poker industry will see an annual growth rate of 11.1%, increasing from $59.4 billion in 2022 to $155.4 billion by 2030. The report highlights market trends and indicates that online poker will resume significant gains as technological advances greatly increase the available products offered.
The research study shows a growing industry focused on drawing new players by offering promotions, bonuses and loyalty programs, which have been successful in player retention and market growth.
Online poker has seen another boom since the COVID-19 pandemic, with the report citing that tournaments continue to compel many players to enter with the chance to win significant cash prizes with low buy-ins. Additional growth opportunities for the industry will be available as many new jurisdictions legalize online gaming, focusing on one particular market.
“Europe emerges as a standout market, propelled by the sanctioning of online betting activities, bolstered by high disposable incomes and a penchant for leisure pursuits amongst its citizenry,” according to the Research and Markets report.
The study also found other growth opportunities, including blockchain technology, which improves security and provides efficient transactions. Enhanced payment methods also make the process easier, along with seamless integration across several platforms, adding to the industry’s bottom line.
The research indicates that Texas Hold’em will remain the most popular poker variant.
“The continuous reign of Texas Hold ’em poker, lauded for its simplicity and array of variants, such as no-limit and pot-limit, maintains a significant market share due to its enduring popularity among both novices and seasoned players.”
According to recent statistics from the American Gaming Association, commercial gaming had $16.3 billion in revenue in the third quarter of 2023.
