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What is online casino scam11/29/2023 The industry’s vast potential for profit invites the attention of fraudsters and illegitimate customers looking for a quick way to scam someone out of their money. Licensed gambling outfits will likely continue to leverage the reach provided by mobile platforms to grow in the coming years. The UK Gambling Commission found online casino games generated £4 billion in gross gambling yield (GGY) from 2020 to 2021 – almost double the figure generated by remote betting and bingo combined for that same period. Moreover, online gambling platforms have taken a few cues from mobile game designs and effectively beaten out other forms of remote gambling in terms of popularity. Virtual reality is also making waves in the gaming space with a projected market size for both VR software and hardware of $5.1 billion by 2023. Revenue projections for the industry as a whole top $100 billion by 2024 – a significant increase from 2021’s approximate mobile gaming industry revenue of $90.7 billion. Mobile gaming has seen tremendous growth, with a full 54% of gamers choosing to play games on their mobile phones instead of consoles or desktop computers. This has spurred new business models and approaches in the process. Gaming has steadily grown in popularity across all demographics alongside the emergence of more capable hardware.
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