Are you thinking of launching an online casino or gambling platform in 2022? With the end of the year in sight, many entrepreneurs look ahead to investment and business opportunities for the future. Online gambling is one sector that has been getting much attention in recent months and years. So, what is all the hype about? And why should you consider launching an online casino in 2022?Impressive growth
The online gambling industry is not just growing it is diversifying.
Between 2021 and 2026, the online gambling sector is expected to grow at a CAGR of at least 11.49%. Some put the figure as high as 13%, but either way, it is impressive. Estimated to reach $72 billion by the end of this year, the market should surpass $112 billion
by 2025. The sector boomed during the COVID-19 pandemic as millions looked to gambling as a form of entertainment and to regain some of the social aspects they were missing during the lockdown.
But it wasn’t just about COVID-19. The sector was already on an upwards trajectory beforehand, although things have accelerated in the last 18 months. There is little danger of things taking a downwards turn either. Digital entertainment, in general, is growing, and consumers are demanding more variation and more technology. Furthermore, the stigma around gambling is decreasing and more are happy to gamble and share their experience with friends and family.Tightening regulations
You might think that tightening regulations might be counter intuitive to the sector's growth, but actually, the opposite has happened. Increased regulatory supervision and new legal frameworks have boosted both operators and players.
Visitors to online gambling sites feel more protected and secure. Operators operate in an area of legal certainty. They also avoid issues with reputational damage, disputes, and legal matters, through remaining complaints. Of course, over-regulation would likely stifle the sector, but just the right amount instills confidence and supports growth.Plenty of investment
The online gambling sector is not short of investors, which is an excellent signal for those considering starting their platform. Over the last couple of years, billions of dollars have been ploughed into the sector from venture capitalists, angel investors, fundraisers, and other forms of capital raising vehicles. Areas that are particularly ripe for investment include those which utilize emerging technology. This can consist of blockchain and cryptocurrency, IoT, wallets, VR and AR, and particularly eSports.
If you are a startup with a great idea and a definite niche, there are many opportunities for you to benefit from additional investment. In such a dynamic sector, the sky is the limit. Earlier this year, Playtech agreed to a $3.7 billion takeover by Aristocrat Leisure LTD. At the time, financial analyst Josh Rosen said the deal was “the latest example of incumbents scrambling to arm themselves with the technology to harness a burgeoning online market opportunity, amid a global gaming sector now exhibiting near-constant consolidation.”New regions and verticals
The online gambling industry is not just growing; it is diversifying. This is evident due to the emergence of new markets such as Latin America and new products like eSports, fantasy sports, and games using VR and AR.
Latin America is one area to watch. Home to over 660 million people, many countries are relaxing laws or creating new ones to facilitate online gambling. This is excellent news for operators as much of the market remains untapped. There is much opportunity to present high-tech, safe, and secure gambling solutions to these populations, making it a hot location for 2022.
Asides from locations, there are also lots of new kinds of gambling emerging.
Live betting, social gambling, AR and VR sites, fantasy sports, eSports- the list goes on. Make sure you keep your finger on the pulse and be sure to look at some of these options when developing your products for the following year.
Fast Offshore has worked in the online gambling sector for 24 years. During that time, we have helped countless startups and established businesses with their corporate needs. We take care of company incorporation, licensing, payment and settlements, structuring, and even compliance. Putting customers first since 1996, if you want to launch a gambling business, or any other kind of business, contact Fast Offshore today!