The world has changed a lot since the COVID-19 pandemic began. Some companies have been suspended or shut down altogether. However, the iGaming industry has soared significantly in these years.
The Casino Market team has conducted research and analysis of various countries to highlight trends and forecasts for 2022.
This article provides a broad overview of markets and their propensity from Canadian regulatory measures to the adoption of modern payment methods in Macau.
New Market for a Multibillion Business
In late August 2021, the Canadian authorities legalised single-event sports betting, thereby allowing a huge, ambitious industry to enter the country. Previously, players could only do parlay wagers.
This new market is expected to have great potential for success. Previously, participants had invested more than $ 11.5 billion in sports betting each year, using offshore corporations.
Industry giants are already beginning to actively fill the market. For example, Penn National Gaming has purchased the most popular sports platform based in Toronto, namely Score Media and Gaming Inc.
The PointsBet wagering brand now has alliances with:
- The Nation Network;
- Curling Canada.
Probably, the betting vertical will quickly spread to all provinces of the country in 2022.
The UK Is up to Implement New Market Rules
The UK regulatory jurisdiction has determined to reform the rules of the entertainment sector by amending the Gambling Act 2005. The decision was made due to media and certain authorities' pressure.
Oliver Dowden, a spokesman for DCMS, argued at the end of 2020 that the law did not correspond to new realities. His comment was taken into account, but global movements never occurred. In February 2021, the agency claimed that the new rules would not be introduced till 2022, which allowed companies to work in their usual mode.
The gambling business has to keep a lid on potential drastic changes. Even though no reforms have been officially announced yet, there are rumours about the prohibition of the sponsorship of football teams with betting organisations. 9 out of 20 teams in the English Premier League have agreements with wagering businesses.
The head of the English Football League committee, Rick Parry, comments that such a ban could lead to the collapse of small clubs. He clarifies that the damage for such an introduction could amount to more than $ 54 million annually for his organisation.
Other possible restrictions include:
- bet limits in internet casinos;
- a ban on controversial trophy boxes.
The embodiment of all the supposed changes remains a big question. However, by the end of this year, the picture of the British market will have a completely different look.
Vague Times for Macau’s Gambling Giants
2021 was not easy for the gambling industry in Macau. Even though the total income almost half exceeded the 2020 result, amounting to $ 10.82 billion, that is still 70% less than in 2019.
The difficulties caused by COVID-19 are not over. The local government has imposed temporary restrictions on international travel, indicating that new obstacles await the area.
Meanwhile, all casino brands' licences are running out of time. The responsible authorities promise to renew these rights before the end of the term. However, this will not be done until the revision of the regulations.
Gambling companies incurred huge losses. Their stock dropped in September 2021, and the total lapse has approached $ 14 billion.
The Introduction of Virtual Currency
The digital yuan could significantly improve Macau’s market position. Ho Yat Seng, Macau’s politician, stated that the government was indeed considering the introduction of an alternative currency.
Local businesses do not take this idea very well. However, they could be convinced by the extension of their work permits.
Analysing the current situation in the world, Casino Market experts believe that this year will also be quite difficult for firms. However, the gaming brands will gradually develop and build up their power.
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