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Online gambling to approach $1 trillion by 2021

Mobile users and VR should keep up the explosive growth of the online gambling industry.

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Online gambling wagers worldwide are expected to surge in the coming years, jumping from $550 billion this year to nearly $950 billion by 2021, according to a report Wednesday from researcher Juniper. By then, wagers will approach the same level as total spending on all digital goods and services, expected to hit $1 trillion in 2021.

More gambling is migrating to online outlets, spurred on by mobile users. Eventually, virtual reality will also draw in more online gamblers, the researcher said.

Juniper said there's been a trend toward creating new regulation around online gambling, but in some cases, like in the Philippines, governments have moved towards outright bans.