iGaming growth is set to double

iGaming growth is set to double

New technologies are taking the businesses into exciting new horizons, and the gambling industry is no exception. The market has more than doubled from €16.3 million in 2009 to approximately €40 million in 2018, revealing the various new possibilities that online gambling creates for the customers. And this figure continues to grow. According to a study by online statistics portal Statista, the global iGaming market is expected to be worth over €50 billion by 2020.

To dive into the exact areas of growth we need to look at the many sources called iGaming, which is well beyond the scope of the report about iGaming revenue. There are providers and online offerings in all major sectors such as betting, lotteries, draws, poker sites and casino sites. To give a better idea, Casino cannot be thought of as one main category as online the sites often include card games, table games and slots. Some are now even offering lottery and draw prizes, so for the sake of this artical we are simply talking about iGaming as "online products that offer gaming".

Both user preferences in various regions and the regulatory landscape are changing rapidly. It’s further complicated as some countries are heading towards legalisation of at least some segments of iGaming in either online or land based forms, while some are monitoring the situation - yet to decide on what to do.

For instance, China is one of the world’s largest online gaming markets. Here we are seeing rapid growth, as of 2014, approximately 366 million Chinese internet users had been engaged in online gaming. With a total of around 650 million internet users, online gambling in China still offers a massive market potential that is yet to be unlocked. The Chinese youth movement has one of the largest online Poker markets with one in seven members being subscribed or or part of the poker tournements all based online.

The USA already allows online gambling in three states, and it is expected that more states are going to adopt similar regulations. The government wants to benefit from the tax revenues by allowing the market to grow in these regions. Africa is like Asia in that there have been no plans for legalizing online gambling anytime soon. With more countries starting to see the returns on allowing access to online offerings there is a constant growth factor that cannot be ignored.

A breakdown with 100% accuracy per gambling segment, per country is something we offer to our clients as part of our packages.

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