The global iGaming market is ever-evolving. Each year, new countries enter the market while others modify their existing regulations. Some jurisdictions expand their offerings while others restrict them.
One place that has recently seen a number of changes that has perhaps helped to make the global iGaming market grow and help it to fare rather well in 2022 is the USA, as more and more states are beginning to legalize the activity. Additionally, we have seen the same happen in Canada, with Ontario passing the C-218 Bill, which effectively means you can now legally enjoy online slots with free spins and other classic casino games in a safe and regulated market.
Naturally, given all of the continued to changes that continue to happen, it can be hard to keep track of all those that do take place around the world. Fortunately, we are here to help. In this blog post, we will give you a quick overview of how the global iGaming market has faired so far in 2022.
Asia Pacific
The Asia Pacific region has seen strong growth in recent years, and that trend has continued in 2022. The region is home to some of the world’s largest and most populous countries, including China and India. As economic conditions in these countries have improved, more people have been able to afford smartphones and other mobile devices. This has led to an increase in the number of people who are able to access online casino games and sports betting platforms; a pastime that has always been rather popular in this region of the world. In addition, several Asian countries have recently liberalized their gambling laws, further boosting the growth of the region’s iGaming market.
Europe
Europe remains the largest iGaming market in the world, accounting for a large portion of global revenue, although this may change in the future given the expansion of the market. The region is home to a number of well-established markets, such as the United Kingdom and Italy. These markets have continued to perform well in recent years, thanks to favorable regulatory environments and high levels of customer spending. In addition, a number of new markets have entered the European iGaming market in recent years, including Poland and Portugal. These markets are still relatively small compared to established markets like the UK, but they represent a significant growth opportunity for European iGaming operators.
North America
As mentioned, the North American iGaming market has been growing steadily in recent years, but it still lags behind Europe and Asia-Pacific in terms of size. Nevertheless, there are a number of factors that could lead to strong growth in North America over the next few years. For example, a number of US states have recently legalized online gambling, opening up a huge potential customer base for iGaming operators. In addition, Canada is currently undergoing a review of its gambling laws, which could lead to significant liberalization in the near future. Consequently, North America could become one of the fastest-growing iGaming markets in the coming years.
Final Thoughts
The global iGaming market is growing rapidly thanks to favorable conditions around the world. Many jurisdictions are becoming more liberalized while others are expanding their offerings or opening up new markets altogether. This provides a great opportunity for those involved in the industry.
