The newest Ofcom Communications Market Report has revealed that 40% of adults in the UK now own a smartphone, up from 27% during the same period last year.
The jump in smartphone owners is good for gambling operators who offer mobile betting services. Sports betting is the industry giant in terms of mobile betting; 76% of all wagers placed on mobile devices are sports bets.
H2 Capital also calculated that mobile betting reached €2.2 billion in 2011 and estimates that the market could be worth nearly €5.4 billion within the next three years.
Although sports betting is currently the largest sector in the mobile betting industry, casino gambling is also growing. Those mobile casinos will likely grow from 9.8% of all mobile betting traffic in 2010 to 12.9% by the end of next year.
In other markets adult smartphone ownership is also growing. The United States currently has an adult smartphone ownership percentage of 45%, while Spain, France, Germany, and Italy sits at 44%.