Online Gambling Market

1. Online Gambling Stocks
2. Global Online Gambling Market
3. Online Sports Betting Market Share
4. Online Gambling Market
5. Online Gambling Market

Home BLOG The Most Favorable Online Gambling Legal Areas to Enter in 2020

1. New Jersey is currently the largest market for regulated online gambling in the United States. There are a number of sportsbooks and online sports betting apps live in the state. Canada is largely an unregulated country in terms of online gaming. Whereas, Mexico is reviewing its gambling laws, with the aim to regulate the online gambling sector to bring it in line with the rest of the nation’s gambling industry.
2. The global online gaming market is anticipated to grow with a considerable CAGR of 11.9% during the forecast period (2020-2026). The increasing options to play from starting from simple games such as Solitaire to massively multiplayer online games (MMOG’s) with whole virtual universes is the.
3. The global online gambling market is anticipated to be valued at more than 92.9 billion U.S. Dollars in 2023. The current size of the market is almost 59 billion U.S. Dollars, meaning the size is.

The recent report on Online Gambling and Betting market offers a thorough evaluation of key drivers, restraints, and opportunities pivotal to business expansion in the coming years. Further, the document contains an exhaustive discussion of the factors impacting the progression of the industry segments and uncovers the top growth prospects for.

July 15, 2019

Last update: October 2020

The year 2020 will forever remain a year that disrupted the everyday lives of millions of people and impacted global businesses. Closed borders, shops, offices, hotels, and entertainment institutions — do you remember something like this?

On the other side of the coin, there are businesses that managed to quickly react to the pandemic and moved part of their operations and services online. Some of them improved provided services and optimized them for high load. For example, before the pandemic, 28% of people shopped online weekly. In 2020, this percentage has grown to 36%, as Digital Commerce 360 researched.

Along with the e-commerce business, the online gambling market has displayed a significant boost in growth this year. People stay at home, get bored, and entertain themselves with online casino games. Also, industry experts predict that this effect will not go away soon.

Simply compare the size of the online gambling market in 2019, 2020, and forecast for 2023. No words needed to explain the perspectives for online operators and global game providers.

So, in this blog post, we are going to discuss:

• legal peculiarities of the major online gambling markets, and
• how to make up a game that could fit in these markets.

Major Online Gambling Markets and Their Key Legal Aspects

According to Statista, Europe is the biggest online gambling market, with global revenue reaching $22.4 billion. Asia-Pacific, North America, and the Middle East are next on the list.

The online gambling sector in these locations provides different opportunities as well as challenges. So, let’s investigate the peculiarities of each market and what difficulties to expect when trying to launch your game there.

Online Gambling Stocks

Europe

According to Mordor Intelligence, the European online gambling market is expected to grow during the period from 2020 to 2025 with a 9,2% CAGR.

Each European country has the right to regulate its Internet betting and gambling sector separately. In 2017, the European Commission decided to stop overseeing the regulations of all countries and delegated this responsibility to the national courts.

Nevertheless, there are two things applicable to all European countries:

1. KYC requirements (Know Your Customer), which force online casino operators to properly identify each player before they start depositing real money.
2. Fourth Anti-Money Laundering Directive, which has been active since June 2018. This directive aims to assess all players before they make bets to reduce the risk of crime and money laundering.

“All online casino operators are obliged to receive a license from a responsible authority to prove their website’s legality. After being authorized, they take on the responsibility of verifying all players before the registration, for instance, by requesting photocopies of their documents. This way, all suspicious users are filtered out,” comments Alexey Isaev, senior engineering manager at Innovecs.

Online Gambling by Country

• Austria. There is a monopoly on the online gambling market here (public-private). All games are regulated under Lottery Licence.
• Belgium. Online casino games are legal under Category A+ and B+ licenses. Land-based institutions can offer online services.
• The Czech Republic. All games are allowed apart from the tombola, a type of lottery, and mini cart tournaments.
• Denmark. Gambling on the Internet is allowed under many types of licenses, including slots, table games, etc.
• Estonia. They have The Gambling Act which aims to regulate both land-based and online casinos. Also, there are multiple licenses.
• France. According to their regulations, only online poker is legally permitted.
• Finland. There is a state-owned monopoly on different casino games.
• Germany. The online gaming market is not officially regulated in this country. So, it is neither allowed nor prohibited.
• Greece. This country has not yet created a list of legally allowed online casino games. However, they have Law no. 4002/2011 to regulate the market since 2011.
• Hungary. All online casino games are regulated by the country by The Gambling Supervision and the Ministry for National Economy.
• Italy. All games are allowed and casinos controlled by AAMS (Autonomous Administration of State Monopolies).
• Latvia. Games are regulated by The Lotteries and Gambling Supervision Inspection of Latvia.
• Lithuania. Internet gambling is allowed, but operators must adhere to rules (number of games, type of games, etc.).
• Luxembourg. Lotteries are allowed, other types are not regulated by the state.
• Monaco. Only land-based operations are permitted here according to the Monegasque Law.
• The Netherlands. The online gambling market is not regulated by the state.
• Portugal. Licenses are required to launch an online casino in this country.
• Serbia. Licenses are required to launch an online casino in this country.
• Slovakia. The state monopoly on gambling. Operators can offer their games on the Internet without identifying them as online gambling.
• Spain. Regulated with licenses. Also, there are special gambling windows, time frames for legal playing.
• Sweden. There is a monopolist operator — Svenska Spel — that is allowed to provide poker and bingo on the Internet.
• The United Kingdom. All games are allowed if your company has a license for online gambling.
• Switzerland, Liechtenstein, Poland. Online gambling is prohibited.

Online gambling in Europe is also legal in Belgium, Isle of Man, and Denmark.

In general, Europe is a good place for launching your game or betting platform because almost all European regulators provide transparent opportunities for receiving licenses.

Canada

According to the Canadian criminal code, only those institutions that received a license from provincial governments can run online gambling businesses. People are not legally allowed to engage in any online gambling activities provided by casinos not licensed by the province.

In 2010, PlayNow — the first-ever legal Internet casino — was launched by the British Columbia Lottery Corporation. It can be accessed by people living in British Columbia. Another is Quebec which runs an official online casino via Loto-Québec. However, Quebec considers itself a sovereign nation and they take responsibility to regulate the market themselves. So, now there are more than 350 online casino websites.

North America

Despite online gambling being fully legal in the USA, there are some things to take into account.

According to the 58-year old Federal Wire Act, US authorities forbid participating in online sports betting activities across state borders. Games such as slots, lotteries, poker, bingo, and others can be played without restrictions within the states. Authorities responsible for issuing licenses for operators control the legality of a certain game provided on the website.

While much controversy surrounded the validity of this act, the US Department of Justice reinterpreted it in 2011 and clarified that it relates only to betting on sports events.

In 2018, however, the Department of Justice once again changed their opinion and stated that the Act relates to all types of games.

As of today, the situation is still unclear. For example, in June 2019, Paul James Barbadoro, the District Court Judge, issued a statement that the act should relate specifically to sports gambling. Now, his statement remains under review.

Online Gambling by States

• In New Jersey, online gambling has been legalized since 2013. In 2018, this state also negotiated PASPA (Professional and Amateur Sports Protection Act) of 1992 in court and succeeded.
• Delaware. PASPA allows people in Delaware to play almost all games, including slots, blackjack, poker, and wager on sports.
• Oregon. Horse racing and sports betting are permitted, other types are still illegal.
• Pennsylvania. Beginning July 15, 2019, online casino games were legalized within the state territory.
• West Virginia. According to the Lottery Interactive Wagering Act, online sports betting is legalized. Other types of gambling are on the way.
• California. The situation here is still under question. They have tried to authorize online poker, but still, there has been no final decision from the government.
• Indiana. Online casinos are not allowed here.
• Iowa. Both fantasy sports and iBetting are legally allowed.

While the Department of Justice has not announced its final decision toward the validity of the Federal Wire Act, it is considered that casino games, poker, bingo, lottery, and race betting are legal in the USA if they are played within the borders of a certain state.

Global Online Gambling Market

Today’s biggest challenge is the unclear future of online gambling. The only thing we can do is wait until the government decides which games will be allowed to be played legally.

However, another difficulty can occur when launching a game in North America. Most of the banks deny carrying out gambling transactions. Financial institutions try to avoid processing online casino payments as they do not want to deal with fraud, chargebacks, or other difficult-to-solve issues.

This is why, when launching a game, it is crucial to choose the operator with the payment method that will enable users to deposit and withdraw money without problems.

Asia-Pacific

Asia-Pacific is the second-largest market of Internet gambling. According to a report by Research and Markets, by 2021 it is expected to increase by 7.31%.

All countries in the Asia-Pacific region are permitted to regulate online gambling individually.

Online Gambling by Country

• Thailand allows iBetting on horse racing in Bangkok and engaging in the state lottery. Thai people are not permitted to deposit and withdraw money from casino websites. This is why they play online and come to brick-and-mortar casinos to receive their winnings.
• More than 80% of Australians are involved in both online and land-based gambling. In 2001, the Australian government signed the Interactive Gambling Act, which aims to protect people from the adverse impact of web gambling. Online casino operators can’t offer unlicensed products or provide players from other countries with Australian iGaming products. All games authorized by the government are considered legal.

• More than 3.6 million people in New Zealand are involved in gambling. Under the Gambling Act signed in 2003, online casinos are legal within the territory if they have been authorized by the government. Also, there is no law that prohibits playing casino games with the servers hosted outside the region.
• Japan bans online gambling by the Criminal Code (Chapter 23). However, there are some exceptions, such as betting on motorsports and horse racing. Any other type is illegal.
• In China, any form of online gambling is forbidden by law. However, Macau and Hong Kong, which are part of the People’s Republic of China, allow engaging in betting on sports and horse racing.
• In the Philippines, casino websites that were approved and licensed by the PAGCOR (Philippine Amusement and Gaming Corporation) are legal.
• In Indonesia, the only legitimate gambling is a licensed online lottery. Other online games are prohibited.
• In Vietnam, just like in Indonesia, only a state lottery is legally accepted.
• In India, people can legally bet on sports activities and participate in the national lottery. The rest of the online gambling is banned.

Most Asian countries have banned online casino games and allow only their state lotteries and betting on motor or horse racing, which is a huge blocker for online casino operators.

Australia and New Zealand are considered the most favorable locations for launching casino games.

Middle East

Most of the countries in the Middle East have banned online gambling activities. Nevertheless, many people find ways to gamble. They register on overseas casino websites and make bets there.

Online Gambling by Country

• In Morocco, almost all types of online gambling are legal. Citizens are also allowed to access casino websites outside of the country.
• In Lebanon, legal online gambling is limited to iBetting on sports activities and the national lottery website regulated by the government.
• In other regions, such as Algeria, Bahrain, Egypt, Iran, Jordan, Kuwait, Libya, Oman, Qatar, and Saudi Arabia, online gambling is illegal. However, there are many casino websites outside of these regions that accept players from the Middle East countries.

South America

In most South American countries o, the iGaming sector remains a gray area. They have outdated gambling regulations, most of which are still pending under the government’s review.

Online Gambling by Country

• The only region where online gambling is legally permitted is Colombia. Also, its government allows citizens to gamble on the platforms hosted outside Colombia.
• Internet gambling in Brazil is forbidden for all citizens.
• In Argentina, it is regulated by provinces, and operators have to meet strict requirements to get a license. According to Decree 181 signed in 2019, online gambling is legalized in Buenos Aires.

In other South American countries, online gambling regulations are unclear and launching games there may cause many risks.

How to Develop an Online Casino Game Suitable for Major Markets

Considering the peculiarities of the online gambling market in different countries, as well as its legal background, it is practically impossible to develop a game that could fit everywhere.

“A supplier looking to enter multiple jurisdictions needs to carry out a legal requirements review to ensure the correct requirements are gathered during the phase of the game development. This process is extremely complex. Experience in legal rules collecting and analyzing will ensure the correct implementation of the requirements and a quick game certification before going live,” comments Antonio Zanghi, Managing Director at Maxima Compliance.

However, there are some recommendations that could help distribute your iGaming product across a wider audience.

Select a Globally Popular Type of Online Casino Game

The first thing to decide is which type of online game you want to build. The difficulty is that in the countries where online gambling is legal, popular games may differ.

Nevertheless, these three types remain popular among players around the globe:

• Online slots. According to Statista, the amount of all slot machines in the world is 1,063,076 as of 2019. They are easy to play and the diversity of topics and plots attract many people.
• Online poker. The US has more than 1.5 million active players. Poker has always been popular among experienced gamblers.
• Sports betting platforms remain popular in many countries. For example, the players in the APAC countries are responsible for almost half of the global sports bets. Additionally, betting on sports is lawful in most countries.

Choose an Experienced and Reliable Software Developer

Once you have decided on the type of the game, look for a software developer that will be responsible for the creation of your product.

With years of experience in the development of online slots, poker rooms, bingo, blackjack, and other games, Innovecs is a perfect choice.

Our developers have successfully completed projects for companies such as Gameion, Gameloft, Zynga, and NeoGames.

Check the Legality of the Online Casino Operator

After the game is ready, the next step is to choose online casino operators. This is one of the most critical decisions you must make because there are a lot of illegal platforms.

To check the legality of a website, scroll down homepage and you will see the information about whether it’s licensed.

Online Sports Betting Market Share

Regulatory Bodies in Different Regions

Online casino operators in different countries are regulated by different authorities, which are responsible for issuing licenses and controlling the activities of the casinos. So, if you see that the casino is licensed by one of the following bodies, you can comfortably partner with it.

Authorities in Europe:

• Gambling Commission in the UK
• Autorite de regulation des jeux en ligne in France
• Amministrazione Autonoma dei Monopoli di Stato in Italy
• Comision Nacional del Juego in Spain
• Gaming Authority in Malta
• Gambling Control Commission in Alderney
• Belgian Gambling Commission
• Danish Gambling Authority

Authorities in Asia:

• The Philippine Amusement and Gaming Corporation (PAGCOR) is the only Asian authority responsible for issuing licenses. So, operators that want to register their online casino website in Asia must deal with this corporation.

Authorities in Australia:

• ACT Gambling and Racing Commission
• Northern Territory Director-General of Licensing
• Vanuatu Customs and Inland Revenue Department

Summary

The global online gambling market is developing quickly. Nevertheless, operators and players still face many legal restrictions.

Thus, of the countries we have investigated, the following locations are the most favorable for launching your game:

• Australia
• New Zealand
• UK and Malta
• Colombia

These countries have the most transparent online gambling laws and offer clear requirements for receiving a license.

Innovecs is well aware of all the legal requirements of the online gambling market and keeps up with all updates that take place globally. This is why, apart from helping you to develop a game, our company can act as a consultant regarding the questions of game distribution.

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Pune, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Online Gambling Market Overview

Online Gambling Market

2020 was a game-changing year online gambling market, mainly due to the online gaming & gambling legalization in the US. Ballot initiatives in the U.S. presidential election from November 2020 added new states to the growing list of U.S. states where online casino betting is legalized, allowing the online gambling market to garner significant revenues. The newly elected government signaled support for opening up the online gambling industry and reducing federal restrictions.

More legal breakthroughs expected in 2021 would become a huge momentum driver in the online gambling industry. Players like Bragg Gaming Group, MGM Resorts International, Wynn Resorts, Flutter Entertainment, and Caesars Entertainment are seeing new opportunities to increase their online footprint into major gaming markets in Europe, North America, and APAC markets that could mean big things in 2021 and beyond.

This also means that online gambling markets worldwide would garner significant traction. According to Market Research Future (MRFR),the global online gambling market size is projected to grow at a 13.2% CAGR during the forecast period(2019–2025). The market was valued at USD 117.99 billion in 2018. Besides, advances in connectivity and other related technologies are expected to foster the global online gambling market size.

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COVID-19 Impact
The COVID-19 outbreak has positively impacted the already booming online gambling market, increasing public interest in online gaming by almost 52%. The pandemic and subsequent lockdowns worldwide allowed people with more free time to involve in gaming and leisure activities.

Besides, safe distancing mandates are increasing the uptake of online gambling, allowing access to all the games, slots, and sport betting facilities from home comfort. With the increased uses of various cloud gaming services, the online gambling market share is witnessing a constant uptick over the past few months.

Also, increasing investments are seen by the service providers to foster R&D activities to allow slot developers and online casino sites to exploit the online gambling market opportunities, making entertaining gambling programs & games from side project to the next global sensation.

Covid-19 Impact Analysis on Online Gambling Industry:
https://www.marketresearchfuture.com/report/covid-19-impact-online-gambling-market

Industry Trends:
Rapid developments in Internet technologies and mobile apps are projected to increase the online gambling market size, registering a significant growth in terms of revenues and the amount of time users spend on such gambling activities. Online poker and casinos are some of the widely played games in the overall online gambling market. With the improving Internet connectivity, online gambling platforms enable gamblers to play with anyone at a time.

Online gambling platforms offer various benefits compared to traditional gambling, such as support with numerous languages and multiple currencies depending upon the gambler’s location. Also, the online gambling platforms use real money, and they’re not required to exchange chips for money, the key feature that is not available in traditional casino games. These are some of the factors significantly boosting the online gambling market growth.

On the other hand, regulatory norms such as The Information Technology Act in India that have certain provisions to ban foreign websites in the country restrict online gambling market growth. Also, in some countries, thegovernments have invoked the ban on playing on certain foreign betting sites, which can pose challenges to the growth of the online gambling market.

Segmentation:
The online gambling market is segmented into game type, device type, end users, and regions. The game type segment is sub-segmented into betting, casino, poker, lottery, online bingo, and others. The device type segment is sub-segmented into desktop and mobile. The end-user segment is sub-segmented into gambling enthusiasts, social exuberant, and dabbles.

Browse In-depth Market Research Report (111 pages) on Online Gambling:
https://www.marketresearchfuture.com/reports/online-gambling-market-8641

Regional Segmentation:
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.

Europe is projected to dominate the global online gambling market. The presence of a large number of online gambling service providers that offer secured gambling platforms, such as Kindred Group PLC, Bet365, and 888 Holdings, drives the growth of the market in the region.

Besides, increased demand for online gambling services and improved Internet connectivity with high reliability in this region boost the market growth. Furthermore, advanced technologies and favorable government rules and regulations across various countries influence the region’s online gambling market share.

North America is expected to acquire the second position in the global online gambling market. The market rise is predicted to be driven by the rising numbers of gamblers, and gambling platforms in the region contribute to the regional market growth. Current regulatory reforms in the United States are projected to create vast opportunities for new and established companies across the US gaming industry to move into the online space and serve a wider market of customers.

The Asia Pacific region is anticipated to emerge as a profitable market for online gambling globally. Increasing focus on improving internet connectivity and high R&D investment are the major factors projected to influence market growth in the region. Furthermore, technical expertise and the proliferation of smartphones foster the growth of the market. Online gambling platforms in emerging countries such as Indian and China are likely to boost the region’s market share during the assessment period.

Browse Adjacent Markets: Software Market Research Reports & Consulting.

Competitive Analysis:
The online gambling market is expected to witness significant product launches and implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players are making strategic investments in research and development activities and fostering their expansion plans.

For instance, recently, on Jan. 29, 2021, FOX Bet, along with Pokerstars and Stars Casino, launched its sports betting and online gambling products in Michigan following a major sports-betting app that was approved in the state earlier in January 2021.

In another instance, an online gambling company - Golden Nugget Online Gaming (GNOG), in December 2020, announced the launch of services in New Jersey and is poised for additional expansion with significant investments.

Online Gambling Market

Key players involved in the online gambling market are:

• The Stars Group (Canada)
• International Game Technology PLC (US)
• Betsson AB (Sweden)
• Net Entertainment (Sweden)
• Kindred Group Plc (Malta)
• Paddy Power Betfair PLC (Ireland)
• Ladbrokes Betting & Gaming Ltd. (UK)
• 888 Holdings PLC (UK)
• Bet-at-home.com (UK)
• Betfair Group plc. (UK)
• Bwin. Party Digital Entertainment (Austria)
• William Hill Plc (UK)
• bet365 (UK)
• Scientific Games (US)
• VGC Holdings PLC (Isle of Man)
• Betway (Europe)
• Spin Inc. (US)
• Royal Panda (Europe)

Browse Related Reports
Global Mobile Gambling Market Research Report: By Type (Casino, Betting, Poker, Lottery, Online Bingo, and others), End-User (Gambling Enthusiasts, Social Exuberant and others), Region (North America, Europe, Asia Pacific, and the Middle East & Africa and South America) - Forecast till 2025

Global Real-Time Bidding Market Research Report, By Auction Type (Open and Invited Auction), Advertisement Format (Video and Image), and End User (Media & Entertainment, Travel & Luxury, Retail & eCommerce, Mobile Apps, Games) — Global Forecast till 2023

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