Online gambling has been popular and in demand for years now. No wonder, because such entertainments on a computer or smartphone are much more convenient than visiting a classic establishment.
Just a few decades ago, land-based casinos attracted gamblers with their luxury. They were a symbol of elegance and wealth. Today, gambling is available to the majority of the population. Anyone can participate in the gambling process – you can simply launch a browser or download an app to start playing.
The introduction of innovative technologies into the gambling world has not gone unnoticed – the biggest online casinos with minimum deposit in Poland are visited by millions of users, placing bets, playing the reels of online slots from top providers such as Microgaming, NetEnt, Playtech, or Play n’ GO slot games and other exciting games. Moreover, this can be done 24 hours a day, seven days a week, without being tied to the location and schedule of land-based establishments.
At the same time, each continent and region has its own growth and dynamics, associated with the specifics of legislation and the peculiarities of a particular nation. Let’s take a look at how online gambling has changed over the last decade and how it is developing in different countries and continents to understand the overall growth trend of the iGaming industry.
Evolution of Gambling in the U.S.
Until 2011, this country had strict restrictions on the provision of gambling entertainment services. Until now, Americans could not make payments with credit and debit cards, nor could they accept winnings withdrawals. This affected the situation in the gambling industry to some extent. And still, there were many who wanted to bypass the ban to gamble in the casino or bet on sports.
The last 10 years have been a milestone for the United States in terms of gambling. It all started after the US Department of Justice announced that the ban would apply only to betting and not directly to online lotteries, poker and other categories.
This very moment started a new era of gambling development in the United States. After that, online casinos started to appear exponentially. Gaming rules vary from state to state, and licensing is now done by specific state regulators.
The UK Gambling Market: Important Changes in the last 10 Years
As in the last 15 years, the operation of online casinos in the country was allowed by the previously passed law. Regulators were reluctant to tighten the rules so that the market could flourish. Brits participated in various lotteries, bought scratch cards online, bet on sports and spun the reels of slot machines with virtually no restrictions.
Meanwhile, the government began to notice that online gambling was getting out of control and early regulations were no longer relevant. To this end, a special commission consisting of 50 parliamentarians was set up. It developed new rules for all participants. The following rules apply:
- Limitations on maximum bets
- Limitation of monthly replenishment of the casino account
- mandatory verification, which should be carried out within a limited period of time
- Ban on credit card transactions and much more
Such initiatives are aimed at minimizing gambling addiction, which, according to reports by 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 in the new conditions.
Asian Gambling Market: Developments in the Last Decade
Asia is a region with about 60% of the world’s population, which makes it attractive for iGaming operators. New technologies are well developed here; however, most countries have strict restrictions on gambling activities.
Land-based casinos and cruise ship establishments can obtain permission from 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.
Nevertheless, players can find various escape windows on the World Wide Web to spend time in online casinos. The authorities of some countries pay attention to this and think about legalizing certain gaming content in order to make a profit for the budget.
In India, for example, such a decision is made at the federal level, and some states are already developing regulatory documents to approve the activities of gambling companies.
Other countries such as Japan, South Korea, China, Vietnam, etc. are not yet issuing permits to operators, but the current trend makes it clear that this may soon change.
Online Gambling in Europe
The European continent consists of a number of highly developed countries – whose combined economies surpass those of the United States and China. A certain amount of revenue comes from tax liabilities of companies that have obtained online gambling licenses.
The United Kingdom, for example, has long been known for its tolerant attitude towards gambling, and only recent changes can affect the overall situation.
As in other European countries, most of them have an online gambling industry allowed on a legal level as long as the casino and bookmaker operate legally.
In Spain, only live streaming should be authorized by local authorities; other areas such as poker, lotteries, roulette and slot machines are regulated by nationwide laws.
In Germany, the state does its best to control the licensing process, but in some cases regions issue their own permits for certain operators to operate.
France and Italy have their own specific laws that require a small payout by increasing the casino margin. It is less profitable to gamble in these countries, but the number of players has not decreased at all.
Conclusion – iGaming’s Road to Glory
Regardless of some specifics of a country or region, the general trend in the development of online gambling shows positive dynamics. This is evidenced by research data, which forecasts the gambling industry’s revenue to reach $525 billion by 2023.
If you add the multiple countries that are starting to introduce legal online gambling, then it’s clear that this industry is one of the most powerful ones on the internet. On top of that, this decade is honestly the most promising one – with amazing innovations such as VR games, right around the corner.
So, wherever you may be, don’t miss out on what’s to come and have fun while playing responsibly!