The online gambling market is a large market that refers to gambling establishments, including casinos, sportsbooks, bingos, lotteries, and many more. This online market is a massive one that generates money from remote gaming activities either on mobile or desktops devices.
As of 2020, the international online gambling market was worth 64.13 billion. That market was expected to reach an estimated value of 72.02 billion in 2021 at a compound annual growth rate (CAGR) of 12.3%. With the current estimation, we expect that the market might be worth over 100 billion by 2025. This massive growth is expected due to significant changes in the market in 2021 and beyond.
In this article, we will consider some of the latest online gambling markets of 2021. We will consider those already working and those that we feel will likely come up in the future.
The Indian gambling market is already established. Even though many issues border around regulations, the industry is still expanding at a fast rate. At the moment, there is no regulatory framework that makes gambling legal in India. It means the government cannot issue licenses to gambling operators, and Indians cannot bet with local operators online.
However, the government of India is starting to see the enormous potential they are missing at the moment. Everyone knows India has a vast population that has a massive demand for gambling products worldwide. So, many operators target the Indian population with their products. You will notice operators are trying to get a piece of the pie which explains why there are so many lists of best new online casinos in India trying to offer players the best entertainment.
At the moment, it is said that the government losses over a billion dollars in revenue every year by not making moves to regulate the industry. With these talks going on and some states already allowing gambling, India might soon adjust its laws. By the time these adjustments are made, India will become an all-new market for gambling with even more potentials than most gambling markets that we see right now.
Esports is not an entirely new market, but it is one of the markets to look out for n 2021. It has always been around. However, it only became a big name in the gambling industry during the pandemic. From now on, the potentials of this market is huge in the gambling industry.
Experts say this market will be 1.3 billion USD in revenue by 2025 if this growth continues. You might feel the revenue is too small, especially when you look at the total gambling revenue. However, it is essential to note that the esports betting industry was only worth 7.9million dollars in 2019. That is some explosive growth, and we do not see that train slowing down any time soon.
Germany is looking to change its gambling laws in 2021, making it a market to watch out for in 2021. By the 1st of July 2021, the country will implement a new law called the Interstate Treaty on Gambling (ISTG 2021). The new laws will allow operators to apply for licensing for their virtual slot machines, sports betting, online poker, and other activities. The new law will also include the review of advertising rules for gambling operators in Germany.
The new laws will help people already struggling with gambling problems and ensure better revenue for the government. The new laws will also look into the taxing system for operators in Germany. Such licenses that the government will issue under the new law will be valid for use across Germany. While the German market is not entirely new, these new laws can create new markets in the already established industry.
New licenses mean that new casinos are going to come into the scenes. To compete favourably, many new and old casinos will look inwards to attract players. We expect casinos to release more bonuses or increase the existing ones. More importantly, we expect that they create more valuable gambling products that can get them more customers. As a result, we will likely be seeing significant changes going forward in the newly emerging German market in 2021.