H2 Gambling Capital has announced that it expects igaming revenue to break the $100bn mark within just 5 years. This is due to a rise in the 2020 projections, which was massively impacted by the coronavirus pandemic.
What Do the Numbers Say?
This update marks 6 months since Gambling Capital began taking the impact of coronavirus into account and according to the iGaming Business data, it is projected that the gross win for 2020 will be around $357.4 billion.
Compared to last week’s figures, this is a massive improvement of $420 million. This also suggests that the industry revenue as a whole will fall 24.5% below the forecasts that were predicted before the coronavirus impact hit the globe. These figures are 21.2% down from 2019 and these figures for 2020 will be around the levels seen between 2010 and 2011.
What about the Rest of the World?
The rest of the world looks like it will be experiencing an overall decline in their revenues for 2020 too. In North America, it is predicted they will have a 20.7% decline, while this was set at 20.9% last week.
In Asia, the revenue forecast remains the same and their decline is quite steep at 28.1% on the pre-pandemic forecast. In Europe, there was a small upgrade, just like the United States, which now sits at 22.3% compared to last week’s 22.4% decline on the pre-Covid projections.
Online Share of 2020 Gross Wins
What has remained unchanged, however, is the online gambling industry’s share of gross wins this year as it has remained unchanged week on week, sitting at 17.6%. It is predicted by the H2 that online gross wins will pass the $100bn mark within the next 5 years. They noted what an achievement this was as the industry reached the $50 billion mark in just 2018, so it looks like this could be doubled in quite a short space of time.