Online gambling has remained popular and in demand for many years. It is not surprising, because such entertainment available on a computer or smartphone is much more convenient than visiting a classic establishment. Just a couple of decades ago, land-based casinos attracted gamblers with their luxury. They were a symbol of elegance and wealth. And today gambling has become available to the majority of the population. Anyone can participate in the gaming process – it is enough to launch a browser or download an application.
The introduction of innovative technologies into the gambling world has not gone unnoticed – online casinos are visited simultaneously by millions of users, placing bets, spinning the reels of online slots by top providers like Playtech slot games, and playing a game of poker. Moreover, this can be done 24 hours a day, seven days a week, without being tied to the place and schedule of land-based establishments.
At the same time, each continent and region demonstrates its own growth and dynamics, which is associated with the peculiarities of legislation and the characteristics of a particular nation. Let us have a look at how online gambling is changing and evolving in different countries and continents in order to understand the general growth trend of the iGaming industry.
Development of gambling in the USA
Until 2011, this country had severe restrictions related to the provision of services for gambling entertainment. Until now, Americans cannot make payments with credit and debit cards, as well as accept winning payouts on them. This influenced the situation in the gambling industry to a certain extent. And despite the above, there were many of those who wanted to bypass the ban in order to play in the casino or bet on sports.
The past 10 years have been a landmark for the United States in terms of gambling. It all started after the US Department of Justice announced that the ban should apply to betting only, and should not directly apply to online lotteries, poker, and other categories.
That very moment has launched a new era of gambling development in the United States. After it, online casinos began to appear exponentially. The gaming rules vary from state to state, and licensing is now carried out by special regulatory state bodies.
The UK gambling market: changes seen over the past 10 years
As for the past 15 years, the operation of online casinos in the country was allowed by the law adopted earlier. Regulatory agencies were reluctant to tighten rules thus enabling the market to flourish. The British took part in various lotteries virtually without any restrictions, purchased scratch cards online, bet on sports, and spun the reels of slot machines.
Meanwhile, the government began to notice that online gambling was spiraling out of control and early regulations were no longer relevant. For this purpose, a special commission consisting of 50 parliamentarians was established. It developed new rules for all participants. The rules relating to the following:
- restrictions on maximum bets;
- limit on monthly replenishment of the casino account;
- mandatory verification that should be carried out within a limited time period;
- ban of credit card transactions, and much more.
Such initiatives are aimed at minimizing gambling addiction, which, according to reports from the International Center for Responsible Gaming, a large number of gamblers are exposed to. At the same time, gambling companies were not ready for such changes and are now deciding how to survive under the new conditions.
Asian gambling market: developments in 10 years
Asia is a region with about 60% of the world’s population, which is why it is attractive for iGaming operators. New technologies are well developed here; however, there are strict restrictions on gambling activities in most countries. Land-based casinos and establishments located on cruise ships can obtain permission from the authorities, but online gambling still faces serious difficulties and prohibitions. Even free versions of these games, for example, the White King free slot online game.
Despite the above, gamblers find various escape windows on the worldwide web to spend time in online casinos. The authorities of some countries do pay attention to this and think about the legalization of certain game content in order to make a profit to the budget. For example, in India, such a decision is made at the federal level, and some states are already developing regulatory documents to authorize the activities of gambling companies.
Other countries, such as Japan, South Korea, China, Vietnam, etc., still do not issue permits for providers, but the current trend makes it clear that things may change soon.
Gambling in Europe
The European continent is made up of a number of highly developed countries – their combined economies exceed those of the United States and China. A certain part of the income comes from tax liabilities from companies that have received online gambling licenses. For example, the UK has long been known for its tolerant attitude to gambling and only recent changes may affect the overall situation.
As for other European countries, most of them have an online gambling industry allowed at the legislative level, as long as the casino and bookmaker operate legally.
In Spain, permission from local authorities should be obtained for live streaming only; other areas such as poker, lotteries, roulette, and slots are regulated by countrywide laws.
In Germany, the state does its best to control the process of issuing permits, but in some cases, regions issue their own licenses for the activities of certain providers.
France and Italy have their own specific laws that require understating payouts by increasing the casino margin. It is less profitable to play in these countries, but the number of gamblers has not decreased at all.
Regardless of some peculiarities of a country or region, the general trend in the development of online gambling demonstrates positive dynamics. This is evidenced by research data from Born Again Media, which predicts gambling industry revenue of $525 billion by 2023.