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3 Optimal Markets for Implementing Internet Casinos in 2023

Updated 09 may 2023
Online casino, Land-based solutions
Author: James Burton
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The amusement industry is steadily gaining momentum. The opening of a gaming site, a betting project, a poker room, and other projects will bring good profit to entrepreneurs and make their businesses recognisable and sought-after.

The Casino Market company has prepared an overview of the regions where it is most profitable to launch a gambling start-up.

Online casinos: top markets

In this article, we describe planned changes in legislation, taxes, innovations, and other factors that directly affect the success of online casinos.

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Latin America as an Extensive and Promising Market

This is a promising region for launching an iGaming start-up. All types of gambling are well-developed here. The income of the population has been growing steadily over the past 5 years.

In the next 3 years, it is planned to legalise the industry in Brazil and Chile. The authorities of these countries are actively working on this. The bills are at the final stage of approval.

The love for excitement has become an integral part of centuries-old traditions in the region. In Mexico, there is an ancient board game called Patolli, which was played back in the days of the Aztec empire. In Brazil, lotteries, bingo, and keno are considered national heritage. The Jogo do Bicho lotto, for example, has been played for over 100 years.

Why Is It Worth Launching an iGaming Project in the Area?

The region has a huge market potential. Research And estimated that the gambling sector would grow by 18.4% each year from 2022 to 2028.

The main indicators of the industry capitalisation will be as follows:

  • income growth among the population;
  • the penetration of mobile technologies;
  • the opening of gambling markets in certain countries.

The Nuvei Research Center analysed visiting online casinos within popular jurisdictions. Three of the top eight countries in the top list are from Latin America. These are Brazil (the iGaming niche is still in the grey zone there), Mexico, and Colombia.

The main advantages of investing in the gambling sector are as follows:

  1. The population. Over 670 million people live here. This figure is constantly growing. This gives a huge potential for the growth of the field. Players' incomes are also increasing, forming a prosperous middle class. Its representatives have more leisure options available, including responsible gaming on Internet resources.
  2. The legalisation of all gambling activity types. Gamblers prefer betting on team sports. The residents are interested in playing online casinos and lotteries, wagering on eSports, and participating in poker tournaments. This type of entertainment does not require licensing in most countries.
  3. The spread of gadgets. More than 70% of residents have smartphones. This makes mobile casino games in demand in the market.
  4. The emphasis on the legalisation of the industry. Until recently, there were several grey areas in Latin America with poorly regulated gambling. The local government is actively working on legalising the field. The key tasks are combating money laundering, increasing budget revenues, attracting investments, and creating transparent business conditions.
  5. The emergence of available payment methods. 54% of consumers in the region prefer online transfers.

The Review of Jurisdictions for Opening a Gaming Business

Let us consider promising countries for the implementation of an iGaming start-up:


The jurisdiction is marked by transparent regulation, loyal requirements for licence applicants, and the huge popularity of gambling among the population.

The online media resource Statista predicts that in 2025 the Colombian iGaming market will reach $420 million. The country shows an impressive growth rate (18.7%) due to the legalisation of all online entertainment types


The jurisdiction is divided into 23 provinces and the city of Buenos Aires. Each locality has its rules for issuing permits. However, most often investors invest in the capital region. All types of online gambling are developed here and the rules for obtaining a licence are quite simple.

Online casino and sports betting advertising activities are limited. Although, Buenos Aires' top regulator IPlyC has partnered with William Hill, Bet365, and 888 Holdings.

Online casino operators pay 4 main taxes: GGR interest, as well as federal, city, and provincial deductions


The second economy of the region streamlined the work of iGaming portals in 2014. New rules regarding bonuses, advertising, and player loyalty policy were published in 2021.

The benefits of working in Mexico include a high penetration rate of gadgets (60%), the huge popularity of gambling among the 120 million population, and active support from the state

Asia: The Introduction of Technological Innovation

Gambling business in Asia: benefits

The analysts from the IMARC Group are confident that the market will reach $37.5 billion by 2028. The average annual growth (CAGR) of the industry will be 11.39%.

The indicators of online gambling capitalisation in Asia will be as follows:

  • growing dependence on electronic devices (smartphones, laptops, tablets, etc.);
  • the legalisation of online gambling;
  • the growth in the number of Internet users due to the outbreak of COVID-19;
  • active use of technological advances;
  • corporate sponsorship.

The gambling sector is introducing cloud technologies, blockchain, and machine learning, as well as virtual and augmented reality. This helps operators comply with strict data management requirements better, provides faster identification of gamblers, and guarantees increased payment security.

Asia is a leader in the use of cryptocurrencies. Many blockchain casinos are operating there. Traditional iGaming sites are confidently adding digital assets as an additional settlement method.

The Strong Points of Opening an Online Casino in Asia

Let us look at the main advantages of the solution:

  1. Rapid growth of the field in the next 5 years. Analysts from Technavio predict that during 2023-2028 the region will show the largest increase indicator (CAGR at the level of 18.9% or 39% of the global industry capitalisation). The growth of income will occur at the expense of such countries as Japan, India, South Korea, and Singapore.
  2. Enormous demand for gambling among the residents. In Japan, only lotteries and pachinko machines (analogues of classic slots) are allowed. Despite such a limited market, the population of the country spends $145.5 million on online gambling every year. In China, the residents bring operators about $215.5 million a year.
  3. The demand for online entertainment solutions. Leading positions are occupied by live casinos. These are platforms with roulette, poker, Sic Bo, and other table games.
  4. The legalisation of gambling. The goal of government initiatives is to take the gaming field out of the grey zone, increase budget revenues, and protect users from dishonest casinos.

Where to Organise the Work of a Gambling Resource?

The overview of promising countries for opening a gaming site:

The Philippines

The market is developing so fast that the Philippines has every chance of becoming the centre of gambling in Asia on par with Macau and Singapore. All types of entertainment activities are legalised here. The government strongly supports local businesses.

Several regulators operate in the jurisdiction:

  • PAGCOR. The organisation controls land-based halls and bookmaker offices, as well as online gaming in the Manila metropolitan area.
  • CEZA. The Cagayan Special Economic Zone Authority issues permission documents for offline betting shops and casinos. Establishments cannot accept deposits from the residents.
  • PCSO. The Charity Lottery Bureau organises sweepstakes to raise funds for health and welfare.

Why investors choose the Philippines:

  • Minimum tax burden. This is a 2% fee from GGR for the reporting period.
  • International coverage. Operators can manage sites with .com and ph domain addresses.
  • Single gaming licence. Only one permission is needed to administer different projects, such as a slot machine site and a poker room.


The authorities are developing the gambling sector in every possible way. They issue preferential permits for the construction of large casino complexes, reduce the fiscal burden, and attract licensed providers from other countries.

The features of launching an iGaming start-up in Georgia are as follows:

  1. Complex permit. The document is valid for 5 years. It is possible to open a poker room or an online casino with one licence.
  2. Loyal requirements for applicants. To obtain a permit, it is not necessary to be a citizen of Georgia. It is enough to prepare the requested documents (business plan, information about the founders, etc.) and confirm the availability of a financial guarantee.
  3. Flexible system of taxation. The level of fiscal burden depends on the province in which the operator is registered. The highest rates are provided in Tbilisi and coastal regions. In the capital, the quarterly fee is $12,000-24,000. In Batumi, it is $12,000.


The government announced changes in the industry because online gambling is allowed only in a few states at the moment. These are Andhra Pradesh, Goa, Daman, and Sikkim.

Online casinos with registration in offshore zones are actively operating in the country. The authorities do not directly prohibit the work of iGaming locations. However, they are not responsible for the fact that players may not receive their payouts. The only requirement of the government is to provide for the acceptance of deposits in the national currency, the Indian rupee.

Users can replenish their gambling accounts in several ways:

Europe: Stable Demand for Online Gambling

Gambling in Europe: features

This market has always aroused genuine interest among investors. 2023 will be no exception. Entrepreneurs prefer to work in the EU due to the stable economic and political environment, clear and understandable regulation, and the constant growth of incomes among the population.

In Europe, gambling is a traditional form of leisure:

  • In the United Kingdom, sports betting is popular, as well as wagers on horse racing and greyhound racing.
  • In Scandinavia, online casinos with RNG slots and live table entertainment options are in demand.
  • In Central and Eastern Europe, gamers choose bingo and lotteries. The organisation of draws is often given over to state monopolies.

The ratio of the popularity of gambling on the Web and land-based points is approximately equal. In some countries, Internet bets are in the greatest demand. While in other states, the residents prefer traditional gaming clubs.

Statista's analysis of national markets identifies 5 European countries where online services have the highest spread:


Share of internet gaming









The UK


Entrepreneurs who decide to launch iGaming start-ups should focus on these markets. The operation of an online casino in Sweden or the UK will bring a decent income to the operator due to the high demand for gambling among the local population.

The Advantages of Organising an Entertainment Business in Europe

The key benefits are as follows:

  1. Stable political, economic, and legal environment. The legislation in many countries has not changed for over 10 years. Thanks to this, entrepreneurs can plan their work.
  2. Income growth among the population. The residents earn more and spend a lot on casinos. The average age of an online gamer is 34 years old. The frequency of visiting a gambling site is 2–3 times a week. The average check depends on the jurisdiction. The residents of the northern countries spend the largest amounts.
  3. Active implementation of innovations. Leading European economies have already recognised cryptocurrency as a legal means of payment. Thanks to this, more and more blockchain casinos appear in the EU with instant transactions and improved security. Companies are also using cloud technologies, AI, VR, and AR, as well as other solutions, increasing the profitability of the gambling business.
  4. Interesting marketing. In Europe, sponsorship and various collaborations with public personalities (musicians, athletes, and bloggers) are in demand. Such cooperation benefits online casinos and brings an increase in internet traffic and profits.

Where Is It Profitable to Launch an iGaming Project in 2023?

The overview of jurisdictions with low taxes and a favourable economic environment:


The jurisdiction is considered a European iGaming hub. Over 450 companies, which are somehow connected with the gambling sphere are registered here. These are casino operators, bookmakers, software developers, and payment solution providers. Malta hosts the largest industry exhibition — SiGMA, as well as many local events.

The country attracts investors due to low taxes, a transparent licensing procedure, and unimpeded operation in the .com domain zone. Leading developers (Microgaming, Habanero, Tom Horn, and BGaming) have opened their branches here, realising the good prospects for working in Malta


The online casino industry is well-developed in Scandinavia, with Sweden being the market leader.

The period of the permits’ validity is 5 years. The cost is €40,000. In addition, entrepreneurs pay an annual fee (€3–40,000) and 18% of GGR.

Many top casino software manufacturers are based in Sweden. These are NetEnt, Evolution Gaming, Yggdrasil, and others


The country is the leader in Eastern Europe in terms of the number of legal online casinos and the amount of attracted internet traffic. Romania has loyal legislation. The right to conduct lotteries has been given to a state-owned company.

The Romanian market is one of the most active in Europe. The total GGR is almost €900 million per year. The country's population is 20 million people. The level of digitalisation is 88%. Therefore, it is profitable to open a mobile casino there


The jurisdiction ensures transparent regulation of the industry. Operators have access to all types of gambling, except for lotteries that are carried out by the monopoly Latvijas Loto.

According to experts, the capitalisation of the field will reach €715,000 by 2025.

Latvia is one of the EU leaders in terms of the number of live casinos and cryptocurrency projects. There are studios with real dealer roulette and poker from Evolution Gaming, Betgames, and other firms

The Main Things about Beneficial Amusement Markets in 2023

Gambling business market: key notions

Online gaming is a promising area for investment with high revenues and a stable return on investment.

  • Latin America has enormous market potential. All types of gambling are flourishing in this territory. An active digitalisation of the economy and state support for the field is observed here. The authorities of Brazil and Chile will present the final versions of gambling laws soon. This will give an additional impetus to business development.
  • Asia is a leader in innovative solutions. These are cloud technologies, virtual and augmented reality, as well as artificial intelligence. The region is loyal to the blockchain. Many Bitcoin casinos and other iGaming projects with cryptocurrency settlements are popular in Asia. The Philippines has been holding the lead in terms of the number of implemented gambling start-ups for several years in a row.
  • Europe is characterised by a stable political and economic environment, a well-developed gaming community, and a high demand for entertainment content. The list of countries with the best online casino profitability includes Sweden, Latvia, Lithuania, Romania, and the UK.

You can order a lucrative iGaming project at the Casino Market studio. We offer:

Our experts help with the promotion of amusement portals, the installation of payment services and affiliate programs. We also create attractive HTML5 content on individual customers’ sketches.

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