In recent years the online casino industry has grown beyond the limits of many imaginations, mainly thanks to the Internet and impressive developments in technology. Especially, Europe’s online gaming market has gone through enormous growth with different countries in the continent showing their potential as online casino markets, including the United Kingdom, Germany, and Switzerland. Looking at the nearby future of new online casino sites the trend is likely to continue in 2021.
According to the recent reports by European Betting & Gaming Association (EBGA), different technological innovations have made it possible for players across Europe to access online casino sites at anytime and anywhere they want. The betting association also points out that Europe’s online casino industry has shown a yearly growth of 10%. In 2018, the gross gaming revenue of the online gambling industry in Europe was £19,9 billion, and the market value is expected to increase to a value of £26,46 billion in 2022.
Strong Gaming Authorities
One of the most important reasons why the online casino and gambling industry is increasing at such a high speed is because the continent is home to some of the most proactive licensing authorities in the gambling sector. Together with the European Betting & Gaming Association, The Malta Gaming Authority (MGA) and The UK Gambling Commission (UKGC), have both managed to establish transparency and trustworthiness in an industry which was once considered as dodgy. By only issuing licenses to reputable casino sites, players feel a lot more confident to try new operators and deposit their funds.
Another reason for the exponential growth of online casinos is the popularity of mobile-first websites making sure players have the same user experience on a mobile device. Some two years ago, about half of all casino bets (43%) were wagered through a mobile device and expected is that this will continue to grow as more and more games and betting products are readily available for mobile usage. Countries like Finland have shown an increase of 10% in mobile gaming in 2018, underlining the importance of mobile play in the European market.
US Market Also Exploding
The US market shows a lot of optimism as well. While land-based casinos felt the pain in 2020, online betting websites have grown in popularity, reaching an all-time record of 20 percent of the total gambling revenue. 2020 is known to be the year regulatory development has finally been set up, also meaning that we could see more and more casino-based stocks hitting the markets in 2021. Due to the corona pandemic the US government will also need to find itself some more revenue, making the legalization of online gambling in new states a rather easy and appealing proposition. Future president Joe Biden has already mentioned that his government won’t impose any limitations considered unnecessary for the casino industry, which is at least some sort of uplifting news for the industry in the United States.