Despite the fact that COVID-19 has disrupted numerous businesses across numerous industries this year, one that has largely escaped unharmed is iGaming. Due to the lack of events, sports betting has decreased, but online casinos have risen to the occasion and prospered as a result. IGaming is anticipated to be worth $160 billion by 2026 as a result of its rising popularity and improvements in mobile technology.
In fact, many nations have begun capitalizing on this rising trend during the pandemic, including Belarus, which recently passed legislation making operating online Casino software in Belarus entirely legal. Italy, India, the United States, the Philippines, and Georgia are just a few of the nations with favorable business environments for iGaming companies. But which nations are the best for starting a business and running
Top 5 Countries
United Kingdom
The U.K. Since there have been online casinos, there has been a sizable market for iGaming, creating some of the most well-known brands in the world like William Hill, Paddy Power, and Bet365. One thing that distinguishes the U.K. Online gambling is a great market to operate in because players do not have to pay taxes on their winnings, which is an appealing proposition.
Although the nation has a reputation for having strict regulations governing online gambling, which frequently subject operators to significant fines for
breaking the rules, this shouldn’t deter anyone from considering establishing an iGaming business on British soil. If anything, strict regulation ensures the caliber of businesses operating out of the UK and fosters greater confidence between them.
Canada
Canada is another excellent option for a base of operations for an iGaming business due to its comparative lack of strict gambling regulations. Did you know that there aren’t any online gaming licenses issued in the nation?
Despite this, Canadian players are still free to access foreign-hosted online casinos. As a result, a business cannot legally run an online casino in Canada, but it is still possible to have a fully operational product specifically targeted at the Canadian market, regardless of where the business is based.
The Canadian iGaming market generates about $17.1 billion in revenue annually, which includes earnings from popular online casino games like baccarat, blackjack, poker, roulette, and slots. Recently, gaming surpassed other forms of entertainment as Canada’s fastest-growing industry, highlighting its broad appeal to potential operators.
Malta
For a variety of reasons over the past few years, Malta has continued to be a top choice for many iGaming businesses. It provides a strong regulatory framework, which is advantageous for iGaming businesses. The Malta
Gaming Authority (MGA) also offers programmes that guarantee Malta stays a vibrant iGaming hub while establishing a reputation as a respectable and professional jurisdiction. For the Mediterranean island, being one of the first early adopters in the European Union to regulate the industry has proven to be very advantageous and profitable.
Even in the midst of a pandemic, online casinos like casinos have been thriving and are able to operate in markets like Canada, Sweden, Finland, Austria, and Japan. iGaming businesses in Malta pay a low tax rate as one of these advantages.
Sweden
Another nation that is home to numerous iGaming businesses and is regarded as a pioneer in key game development, cutting-edge payment systems, and improved user experience is Sweden. For instance, Swedish online casinos use the BankID registration platform, which enables users to sign in using their bank information. Users can spend more time playing online games if they have less time entering information.
The nation employs some of the most advanced responsible gaming policies in the business. Players can self-exclude from all online casinos through the Spelpaus.se website, which was developed by the Swedish government. Finally, since the casinos themselves are subject to an 18% tax on all revenue from online gaming, players are not taxed on their winnings.
Germany
Germany has developed into a promising iGaming market in recent years, largely as a result of changes in the nation and current gambling trends. The country’s gambling laws have undergone a significant overhaul, and the new framework is expected to quickly expand the market, enabling online poker and casinos to coexist with another gaming niche, sports betting.
Although the nation has stringent regulations, especially with regard to affiliate marketing, this should not be interpreted as a deterrent. Germany, which has grown by €300 million in just three years, is still one of Europe’s most promising markets, according to research. This alone demonstrates the enormous potential still unrealized.
Final thoughts
IGaming offers countless opportunities, and the markets under discussion have a lot of promise. When conducting business in foreign markets, it’s important to become familiar with the local culture, particularly as it relates to marketing. Is your message accurate in translation, or is it offensive to the regional audience? Additionally, it’s critical to create a powerful brand with which your clients can identify. Last but not least, always obey the law! You don’t want your hopes of starting an iGaming business to be dashed before they even get off the ground.
