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.
In this article, we describe planned changes in legislation, taxes, innovations, and other factors that directly affect the success of online casinos.
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.
The region has a huge market potential. Research And Markets.com 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:
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:
Let us consider promising countries for the implementation of an iGaming start-up:
Colombia | 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 | |
Mexico | 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 |
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:
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.
Let us look at the main advantages of the solution:
The overview of promising countries for opening a gaming site:
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:
Why investors choose the Philippines:
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:
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:
This market has always aroused genuine interest among investors. 2024 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:
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:
Jurisdiction | Share of internet gaming |
Sweden | 80% |
Latvia | 75% |
Lithuania | 67% |
Romania | 65% |
The UK | 65% |
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 key benefits are as follows:
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 | |
Sweden | 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 |
Romania | 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 |
Latvia | 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 |
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