iGaming is a sector that may only have been in existence for 25 years, but it has already grown into a huge business. A look at recent statistics shows the iGaming market went from $64.13 billion in 2020 to $72.02 billion in 2021 at a compound annual growth rate of 12.3%. We must consider the global situation in 2021 and some land-based businesses, such as casinos were closed for a time and that could have led more people to online gambling. With that in mind, is the iGaming market set to boom again in 2022, as it did in 2021?
There are many reasons to believe the iGaming market is going to kick-on in 2022 and enjoy another wonderful year.
Firstly, you must only look at the number of new countries where iGaming is
becoming legal to see how many millions of extra people are going to have
access to licensed and regulated online casinos and sportsbooks. The United
States is a good example, and the iGaming sector is only a few years old, with
some states yet to adopt legal online gambling. We expect to see many states
choose to legalise iGaming throughout 2022 and into 2023, which is only going
to increase the number of people gambling safely online. Even in the states
where iGaming has been legal since the changes
in legislation by the Supreme Court, there is still plenty of scope for
improved numbers.
Moving to the other side of the Atlantic
and the iGaming market is more mature than that of the US. However, there are
countries who are only just beginning to legalise iGaming, with Germany and
Netherlands being two good examples. Germany is a massive country and gambling
operators can now begin applying for licenses to offer their services to the
German public. There are rules in place in Germany which means it will not be
easy for operators to get up and running quickly but as soon as they do, it is
only going to add to the overall value of the iGaming market in 2022.
While some countries are working to make
iGaming safer, which could see stricter rules enforced, it is not stopping the
introduction of new iGaming websites. Pure Win casino is a good
example and this online casino was launched in 2019, making it a relative
newcomer to the iGaming market. One of the many great aspects of a new online casino,
like Pure Win, is the fact they are at the forefront of technology from the
outset. You only must look at their payment methods as an example, and you will
find CryptoPay, Bitcoin, Litecoin, Ethereum, and Ripple all available. Pure Win
have added cryptocurrency payments, and this is only going to attract more
people to the website.
For those looking to make investments, it
will always be faced by risks, but for some, the iGaming sector is one worth
considering in 2022.