6 Reasons to Launch An Online Gambling Business in 2023

Table of Contents

Covid Impact on Gambling & Gaming Industry

More Gambling Options (Politics, Awards and much more)

The global gambling industry is increasing at a rapid pace and it is no doubt a lucrative industry if you are looking to start an online gambling business. While most of you may think about the post-COVID-19 effects on the gambling industry, here are some foolproof facts that will whet you to start an online gambling business in 2021. The United States has been the industry leader in the online gambling industry as laws and legislation are pretty relaxed there but countries like Africa, China, India, Canada are slowly and gradually adopting the fancy concept of online gambling. After the U.S legalized sports betting in 23 states in 2018, the industry promises to rise ever more than before.

Planning an online gambling business is a tough row to hoe. The idea itself is risk-taking as the COVID-19 has left a huge impact on many large industries. So, does this investing in the online gambling industry will help you reap the benefits? This article includes figures, facts and insights that will help you find one at least one reason that will surely support your idea to launch an online gambling business in 2023.

Before we begin let’s quickly jump into to know the recent mergers and acquisitions in the sports gambling industry.

Canadian based The Stars Group and Flutter Entertainment merged together in May’20 to create one of the biggest gambling powerhouses in the world.
A $17.3 billion merger was completed in July this year as Caesars Entertainment Corp. and Eldorado Resorts Inc. joined hands together.
Mr. Green was acquired by William Hill in 2019.
FanDuel was acquired by Paddy Power Betfair in 2018.
Tabcorp merged with rival Tatts Group in 2017.
Ladbrokes merged with Gala Coral in 2016 to create Ladbrokes Coral

1. Potential Growth of the USA Market

According to Statista, the global online gambling market is anticipated to be valued at more than 92.9 billion U.S. dollars in 2023. Gambling industry never failed to keep up to the expectations of people.

The gambling market is fragmented and it is expected that the degree of fragmentation will increase during the forecast period. The current size of the market is 59 billion U.S. dollars and as stated above it is expected to double by 2023.

Image source: Statista

Who will miss this remunerative opportunity? We being in the industry for more than 8+ years now can definitely see gainful growth in this industry.

2. Covid Impact on Gambling & Gaming Industry

Entire gaming and gambling industry has been affected adversely by the impact of COVID-19. Many planned matches and sports events have been cancelled since the rise of the same. But we also saw a sudden surge in the growth of the online gaming industry, many events were held online and people were enthusiastic about welcoming the ‘new normal’ of online gambling and gaming. Brick-and-mortar casinos were replaced by online casinos thus keeping the gaming zeal alive.

#PlayApartTogether has been widespread to help slow the spread of COVID-19. Gaming industry unites with the WHO (World Health Organization) to promote the messages against COVID-19. Leading game developers including Activision Blizzard, Amazon Appstore, Riot Games shared the message “Wherever you are, whatever game you play, you can make a difference.” thus ensuring safe and distance gaming. Therefore, it is clear that online gaming will definitely bring a plethora of opportunities to gamers and gamblers.

3. More & More Investments

Online gambling industry is lucrative and so it attracts a massive number of investors. If you will look at the stocks, you will definitely want to invest in this ever-growing industry.

Online gaming has grown at a 10% annualized growth rate for the five years through 2019, out of which 12% share is spent only on gambling.

Gambling revenue tripled between June 2020 and September 2020 and the stocks are more likely to jump in the mid of April 2021. Thus, we are looking more investors financing their money into it.

4. Changing Technologies

With the fast-moving world, technology has played a vital role in the development of the gambling world. Gone are the days when people used to stand in queues or hustle in dealing with bookmakers. Today, with the click of a mouse or a touch with the finger, punters can place bets online.

In 2018, Great Britain registered a total of 36.6 million online users for gambling out of which 33.6 million users were active. So, by this number, we can definitely look at more bettors and gamblers moving online.

Not just the number that counts to make an online gambling business in 2021. With blockchain technology and cryptocurrencies taking over the online world with it’s strong and robust security that will change the way people make payments and do a huge number of transactions within seconds.

5. Increased in Regulated Markets

In recent years, we have seen an adjustment in the way European governments look towards betting and since the U.S have already legalized 23 states in the U.S in 2018 and expected to legalize 43 states by 2021.

With certain agreeable guidelines and the countries lifting bans on infrastructure for gambling activities, it clearly states that there are a plethora of opportunities for driving business openings and drawing the attention of administrations from across the globe.

So, before your competitors look forward to, grab this opportunity to scale your business.

6. More Gambling Options (Politics, Awards and much more)

With the current COVID-19 situations, since many sports events are cancelled. The gambling industry is well-positioned to withstand the recession that comes post coronavirus times. The gamblers and bookmakers find different ways to keep the zeal of gambling going. These gambling options include placing bets on political results, award functions, online casinos, and much more.

The gambling industry has shown tremendous growth in the recent years and it is undoubtedly we can say that the industry will continue to grow at a rapid rate thus providing the investors and operators with enough opportunities to start their own business in the field of gambling.

Now that if you are looking to start your own business, a white label solution will be completely fit for you. It is the easiest and convenient way to start your gambling business. All you need to do is sign an agreement with your solution provider. We at GammStack have helped businesses with a white label and turnkey sports betting solutions to cater their business needs and launching their gambling platform within weeks. We ensure that you focus on your marketing and other aspects of the business while we take care of your technical requirements. So, if you have any questions or an amazing online gambling business plan, we are here to help.

GammaStack is known for delivering feature-rich sports betting software solutions ensuring top-notch services. With our 8+years of iGaming experience, we have helped businesses to thrive hard and attain their goals adhering to the quality standards.

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Sources

https://www.statista.com/statistics/270728/market-volume-of-online-gaming-worldwide

https://www.playusa.com/2020-2021-trends-for-post-pandemic-us-gambling/

https://everymatrix.com/reasons-launch-online-gambling-business/\