Top Countries for Online Casino Business
Gambling as a form of earning a living and entertainment has come out of the shadows over the last two decades. Many people started gambling after the introduction of online casinos and laws to govern these bodies. Prior to that, sports betting and any form of casino entertainment were frowned upon, in some countries, entirely prohibited.
However, since 1996 when the first online casino offered slot games, and the passing of The Free Trade and Processing Zone Act 1994 (No. 12 of 1994), more and more countries started passing laws of their own allowing for online gambling. This encouraged more players to stop gambling in the backrooms and shoddy establishments. Instead, they began participating in safe, secure, and regulated gambling activities.
And with the demand for online gambling outdoing the number of online casinos available, there has been a steady increase in platforms offering the same. If you are looking to venture into the online business or are simply interested in some interesting facts, we have prepared a list of countries that gamble the most.
Australia
This might surprise you as it did to us. For a long time, we’ve known the Brits and Irish to have a weakness for booze and casinos. It turns out we were entirely wrong the whole time. Our research has shown that Australians are the most hardcore gamblers, with 80% of the adult population acknowledging to have participated in one form of gambling or another.
4% of the 80% admitted that they visit an online casino where they can use promotions like the Vulkan Vegas bonus or pass by their favourite casino and play pokies. For those that gamble at land-based casinos, what they spend accounts for 63% of the total revenue collected on gambling.
To further show you how big the Australian gambling market is, the government collects $4.9 billion from all forms of gambling and $3 billion from online slots. In total, gambling contributes 8.9% to the country’s total revenue.
Germany
It is no surprise that Germany has made it to this list, given that it’s one of the largest European countries and runs one of the strongest economies globally. It’s safe to assume that citizens have disposable income. Since many enjoy playing casino games and betting on sports, a large chunk of this disposable income goes into online casino games.
It’s estimated that Germans spend about $5.7 billion annually on online gambling, making it a good market to start your online casino business. However, the laws governing online gambling in Germany tend to be strict. You need to ensure you leave no stone unturned before starting your venture.
United Kingdom
The United Kingdom is a popular destination for gamblers. A report shows that at least 43% of the UK population gambled online in the past three months. The gambling market – both online and at the land-based level – is known as the strongest regarding investments and value. It, therefore, means your investment as a player in the industry will be much welcomed as you will not only pay taxes to the government but also pay fees to receive the UKGC license.
Please note that, like Germany, the United Kingdom is very strict regarding online gambling regulation. You need to know the nitty-gritty of the UKGC and ensure you stay up to date with the terms, as they keep updating them often.
Canada
The online gambling industry in Canada is thriving, evident by the recent laws passed to allow for online casino gaming in the province of Ontario. Almost 70% of the population is involved in gambling, with most money going into online bets.
According to the statistics published by Canada’s national statistical agency, the average Canadian punter spends about $400 per year on sports betting. This means gambling is one of Canadians’ favourite recreational activities.
Additionally, Canada is home to the Kahnawake Gaming Commission, one of the world’s most reputable and respected licensing bodies.
United States
Last on our list is the United States of America. Although the country is home to one of the most famous gambling destinations, Las Vegas, online gambling is only catching up. Some of the states had laws that prohibited it, but since the Supreme Court of the United States expunged The 1992 Professional and Amateur Sports Protection Act (PASPA), more and more states are passing laws allowing for online gambling. The state of New Jersey was the first, and so far, more than 30 states have also created laws allowing for online sports betting and casino gaming.
Don’t Be Afraid to Explore the Markets!
Online casinos and sports betting are big businesses globally. From Europe to Australia and North America, more and more people are switching from the traditional form of playing casino games to online platforms. You can start your online casino business in the listed territories without the fear of breaking the law. However, each country has specific rules and regulations guiding its online gambling space. Before you can start your business, get to know the fine details to avoid running into roadblocks when the time comes to launch your brand.
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