The online gambling market has exploded in the last few years, and there are very few continents that haven’t had a considerable boost in the global gambling industry. Online casinos are the coverall terms that are used for internet gambling and betting.
It includes live games, table games like poker and blackjack, as well as games of chance like slots and bingo.
There are a couple of countries that have years of history with land-based gambling and have seen great success with online casinos, too. The UK tops the charts for the country with the most avid gamblers and the best framework supporting businesses and patrons. The US and China topped the charts when it comes to country profits, and other EU countries like Italy, France, Germany, and Spain also have thriving industries.
In more recent years, Kenya, Tanzania, and Nigeria have seen an increase in people enjoying online casinos. While many consider the Middle East a gambling-free zone, Morocco and Lebanon host casinos like 888casino, and in a similar way to Monte Carlo, Egypt offers casinos for foreign visitors (and their citizens cannot visit).
What is the global size of the gambling market?
The real boom for online casinos began in 2020, and it is expected that the growth that was seen, while there will be some points that it slows, will increase, and by 2026, the global casino market is expected to reach $458.93 billion – Global Gambling Markets Report 2022-2026 & 2030: Increasing Popularity of Gambling Apps and Social Gambling will Propel the Growth of the Market Going Forward.
The market includes partnerships, sole traders, and organizations that run gambling facilities both online and off, including lotteries, sports betting, arcade games (video game terminals like slots), and bingo halls.
Gambling, as a term, in particular, covers games where the winning of money is entirely out of the control of the player.
What did 2021 look like for the online casino market?
While there has been a decline in the use of land-based casinos, iGaming (online casino gaming) has thrived. While there have been some significant shifts in US policies, meaning that more people can play if they want to, most EU countries and others have remained steadfast with their rulings about who can play and where.
Which countries are making significant changes to their gambling?
Online gambling laws differ in every country.
Germany allowed operators to apply for licenses, but they placed a lot of provisions for those who wished to apply. Operators need to develop concepts to keep their players safe.
The Netherlands had a significant turnaround and, in October 2022, made iGaming legal, so long as operators have a license granted from the KSA. Remote licenses also became available, so long as the operators have an office registered in the EEA or EU.
Morocco allows its residents to register for offshore websites, but gambling activities were legalized in 1930. Lebanon has the Casino du Liban to play in person or online casinos so long as the state controls it. Both Tunisia and Egypt offer gambling to tourists or residents with dual passports.
The USA saw a huge shift when the Supreme Court declared that the gatekeeping of both online and land-based casinos was unconstitutional, and over the last year, there have been more online and land-based casinos in Jersey, West Virginia, Michigan, and Pennsylvania. Other states like Indiana, Iowa, Oregon, and Montana have legal sports betting but no other online casinos.
In Asia, Macao, the Philippines, and Japan have secured themselves as gambling hotspots. Japan, in particular, has positioned itself to move forward with land-based casinos using the integrated resort concept. The resorts will be similar to the hotel resorts found in Las Vegas.
Latin America has some of the most interesting online casino stats; in Colombia, over 60% of those over 18 regularly place wagers. Not only that but Colombia is considered the foothold and offers operators in Latin America a coverall games single license.
Brazil had the goal of making sports betting available for the Qatar World Cup; since their sports betting was made legal in 2018, they needed a regulatory framework for more significant events and more protection for their players.
Argentina made enormous strides in 2022, and now there are plenty of online operators to choose from.
Australia has stricter rules when it comes to their gambling, and that doesn’t look like it will change any time soon. While there are some land-based casinos, online casinos are banned.
There are very few countries now that do not offer either residents or tourists (or both) the opportunity to play at a land-based casino or an online one.
The predicted growth of the online casino market is expected to take a sharp rise until 2026, and then.