Online poker has been a popular pastime for many years, but it’s not just a game of skill anymore, it’s also a major revenue generator for online gaming companies. And with the advent of new technologies and platforms, the industry is poised for even more growth in the coming years. In this blog post, we’ll take a look at the data and explore the key factors that make online poker such a powerful profit generator and how online gaming companies can capitalize on this growing industry.
- The Online Poker market is expected to grow at a CAGR of 12% According to a recent market research report by Custom Market Insights, the Online Poker market is estimated to grow annually at a CAGR of around 12% over the forecast period (2022-2030). The market size was valued at around USD 76 Billion in 2021 and is projected to reach USD 170 Billion by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- Mobile usability is key Usability is the main determinant of poker mobile apps’ appeal because it makes it simpler for players to play poker on their Android and iOS mobile devices. Online gaming companies can capitalize on this trend by investing in mobile-friendly platforms and apps that are easy to use and navigate.
- Cryptocurrency is gaining ground The online poker sector is one of many that are consistently and quickly gaining ground in accepting and using cryptocurrency. Numerous online casinos already accept cryptocurrency deposits, while the online poker market has not yet seen much growth. Online gaming companies can capitalize on this trend by accepting cryptocurrency deposits and withdrawals, which can attract a new player base who are looking for more secure and private transactions.
- Live streaming is on the rise Even while TV shows and events undoubtedly evoke nostalgia, The last few years have brought a fresh perspective on live-streaming platforms to the fore. The online poker industry has also seized upon this chance, and since last year, poker live streaming on websites like Twitch, Facebook, YouTube, and others has experienced unparalleled popularity. Online gaming companies can capitalize on this trend by live streaming their games on popular platforms and engaging with their audience to create a more interactive experience.
In conclusion, the online poker industry is growing at a significant rate and is expected to reach a market size of USD 170 Billion by 2030. Online gaming companies can capitalize on this growth by investing in mobile-friendly platforms, accepting cryptocurrency, and live streaming their games. The data shows that the online poker industry has a lot of potential and it is worth considering for any online gaming company looking to expand their revenue streams.
Source: “Global Online Poker Market Research Report” by Custom Market Insights.