The global iGaming market generates more than $50 billion revenue every year. That’s a figure that is growing and a compound annual rate of almost 12 percent and industry experts predict it could hit $150 billion by 2030.
iGaming covers every type of online gambling activity, and at first glance, it is easy to assume it is all about the flurry of US states legalizing online sports betting. Yes, of course this is relevant, but it is only one part of a larger iGaming jigsaw that is truly global in nature. In fact, some of the countries that are instrumental in driving the evolving igaming market forward might come as something of a surprise.
Malta
This Mediterranean island is approximately a tenth the size of Rhode Island and has a population of half a million people. Yet it is the hub of the European iGaming industry. Fair and equitable tax rules combined with a fabulous climate and standard of living have prompted practically all the major European gambling companies to move their headquarters to Malta. Meanwhile, the Malta Gaming Authority has become one of the most respected regulatory bodies in the world.
Australia
While Malta’s regulators are driving the online gambling market forward into a new age, Australia’s is essentially pretending it doesn’t exist. Australia’s 25 million population is lower than that of Texas, and its rules against online casinos are just as strict. But it is nevertheless a vital market for the iGaming sector. The number of visitors to Australia’s top online gambling sites increased by 50 percent in 2021, and continues to grow even now that the world has returned to normal.
Canada
Back in 2021, Canada was taking the same stance against online casinos as Australia, refusing to allow them and watching helplessly as millions of gamblers simply logged on to offshore sites and played online casino games there. Last Spring, Ontario took the decision to open up the market and allow gambling companies to apply for a license. The first six months saw about $10 billion wagered at licensed casinos. Better protection for players, good business for casinos and a great source of tax revenue, there are no obvious losers. It is a model that other Canadian provinces and, indeed, other nations, seem certain to follow.
Sweden
Strange but true – the land that brought us IKEA stores and Volvos that will drive themselves there is also one of the most influential in online real money gaming. Anyone who knows a little about online gambling will not be surprised – many of the pioneers who set up the first web-based betting sites were from Sweden, and there are several brands in everything from sports betting to game development that are either based in or started out in Stockholm. The Swedish government has been quick to regulate gambling activities through a centralized plan that protects citizens but does not stifle development. Best of all, players are not taxed on their winnings when they get lucky!
