According to the latest research by Leighton Williams, a professor at Nottingham Business School, the gambling industry is currently valued at nearly $ 500 billion. In a few years, this value will grow by another $ 50 billion due to the trend of active development in this direction. Indeed, many gaming companies are going through a real revolution and each of them is trying to occupy and maintain a profitable niche promptly.
The American market is like a springboard for opportunity
The sphere of gambling is now the focus of public attention. In 1996, the US Congress created the National Commission on the Impact of Gambling, which was to conduct a comprehensive study of the impact of such entertainment on the social and economic situation in the United States. However, instead of «comprehensive study», the commission limited itself to an overview of a rather narrow field of activity. In particular, the program of her work declared the desire to get to the bottom of the problem of a pathological addiction to gambling. Many years later, George W. Bush tightened the law and signed a document banning gambling even in the digital space. As a result, players could not perform the following actions:
- play online lotteries;
- take part in card tournaments;
- use the services of virtual casinos with slot machines;
- get profit from the gambling industry.
In 2018, this law was canceled and the state was able not only to control the industry but also to income from these games. This does not mean that any company can now enter the gambling market – there are many obstacles to this. First of all, these are issues related to licensing and considerable investment and with the risk of losing these investments. However, if the operator fulfilled several conditions in America and was able to stay «afloat», then it can count on large dividends from its business in the future. By 2025, the total revenue from the gambling industry in the United States may exceed the $20 billion mark.
New horizons for gambling markets
Of course, the world of gambling does not go in cycles around the United States. For example, Maxim Liashko, a representative of the Ukrainian company Parimatch, said that they may well compete with any American operator. The legalization of the gambling business leads to the growing popularity of this industry – the governments of countries seek to support it, taking their share of a piece of a hearty pie. Even in China, they admitted that the ban on online gambling is counterproductive for the country’s economy. Control over such companies eliminates the risk of fraudsters and increases the flow of funds directly to the treasury.
However, not all countries understand the need to legalize the process. For example, in the UK, the pressure on the industry is increasing every year. This is not very reasonable because online casinos are now one of the fastest-growing areas of business. Analysts predict that within a few years, the sector’s total cash turnover will be at least $ 90 billion.