Home Entertainment VR gambling – nine-fold growth by 2021 with wagers reaching almost $520m

Virtual Reality isn’t just for games in another dimension, but for gambling, too, with growth from "just over US$58.5 million this year, to just under US$520 million by 2021, representing an increase of 800%".

What’s the bet you’ll be exposed to and encouraged to try out gambling via virtual reality from now and anytime into the future?

Pretty high, it would seem, according to Juniper’s latest research, entitled "Mobile & Online Gambling: Casinos, Lotteries, Betting & VR 2016-2021", which "found that VR gambling deployments over the next five years will be concentrated in the casino space, which will potentially offer immersive, real-world VR locations".

As usual, Juniper’s research is on sale to relevant parties at relevant prices.

Also if you think you remember an article from mid-September on online gambling from Juniper Research, you’re right, as it was covered in an article entitled: ‘Wanna bet? Global online gambling to approach US$1 trillion by 2021

However, this particular update from Juniper is looking at the virtual reality side of things, with the suggestion that "user uptake" will be "hindered by the cost of VR".

Juniper states its research "cautioned that the high cost of VR devices would inhibit the extent of user adoption, with the addressable base in the short- and medium-term largely limited to early adopters".

Nevertheless, research author Lauren Foye argued "that the initial user base would primarily comprise of smartphone VR players, alongside users of top-end PCs seeking the highest fidelity experience".

Foye said that: “These will be coupled with a niche clientele, often high-rollers, thereby resulting in comparatively large average wager amongst these early adopters.”

Online casino market to take the lead

Juniper also states the "growth in casino VR follows the trend for the casino sector as a whole to lead the mobile and online gambling marketplace in terms of wagers, with this sector accounting for over 40% of total gross gambling wagers by 2021".

Other key findings Include:

  • Exchange betting (effectively the placing of bets against another gambler, rather than a bookmaker), will increasingly account for a greater proportion of the mobile & online gambling industry in terms of wagers made, with West Europe being by far the dominant contributor.
  • Whilst the lottery industry is still seeing an impact from the effective banning of online operations in China, Juniper believes that this market will see recovery from 2016 onwards, as we anticipate a lifting of the ban as a result of new regulation.

As you’d expect, there is a whitepaper to tempt you into purchasing the full research, entitled "Online Casinos – Gambling on Loyalty", which is available for download from the Juniper website.

Juniper Mobile Gambling

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Alex Zaharov-Reutt

One of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

 

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