Best Markets To Start With Online Gambling

We live in the world in which technological advancements are all around us, so we cannot expect that things will not change in the gambling industry as well. 

Since mobile devices are becoming more and more popular for internet browsing, that created an entirely new perspective on online gambling.

According to Statista, millions of users from all across the globe are using mobile devices to place bets. At the same time, until 2020, the online gambling market will reach a revenue of $60 billion.

This is an entirely new perspective for global game providers and online distributors. Another report states that Europe is the biggest online gambling market, and the revenue reached $22.4 in 2018, while North America and the Middle East are second and third on the list.

You should have in mind that this particular sector brings us a wide array of opportunities, so we want to provide you the advantages and disadvantages of each market. That way, you will know what to expect from them.

 

  • Europe

 

Based on the statistical report, the gambling gross will approach 25 billion Euros, which is a 20% increase when compared with 2017. At the same time, each country can uniquely regulate the online betting and gambling sector.

Everything changed in 2017 when the EU Commission stopped overseeing the regulations of all countries and allowed national courts to deal with their rules. However, you should know about two factors that apply to all European countries:

  • Fourth Anti-Money Laundering Directive – This is an essential act that has been active from 2018, and it requires assessing players before making bets with an idea to reduce the possibility of money laundering. The best way to learn more about this particular directive is by clicking here
  • Know you are Customer Requirements – these special requirements forces operators to identify each player accurately before they can legally start to deposit money and start playing.

Apart from that, all operators must receivea license from the certified authority so that they can prove the legality of the website. After getting an authorization, they take full responsibility for verifying every player before the registration by searching their IDs and documents.

That way, the suspicion for criminal activities is down to a minimum, which leads to additional security for both players and operators.

If you are in Malta, you will be able to play numerous online casino games. Remember that Malta has successfully regulated this particular industry sector for years. The United Kingdom legalized gambling in 2005, and it created an open model of licensing for operators.

On the other hand, Germany created the opposite regulation that uses the Interstate Treaty on Gambling, which is relevant for their regions. 

However, some parts of this treaty are not complying with EU regulations, which means that only Germans can engage in Internet betting activities.

France, Spain, Italy, and Portugal have transparent regulations that allow citizens to gamble but only when they are in their own countries. Online gambling is also legal in Denmark, Isle of Man and Belgium.

Finally, you should know that Europe is the best place where you can launch your betting or gambling platform because most regulators will allow you to have transparent options and the ability to get licenses much faster and easier than in other parts of the world.

 

  • North America

 

Even though federal regulations allow online gambling in the USA, you should have in mind a few things that are unique to this area. According to the Federal Wire Act, it is not allowed to play online games when you’re abroad. 

Check out this site: https://definitions.uslegal.com/f/federal-wire-act/ to understand more about the Federal Wire Act. 

When it comes to games such as lotteries, slots, bingo, poker, and others, they do not feature restriction within states. However, authorities are responsible for issuing licenses for operators and they control the regulations and legality of particular games on websites.

This particular act came with severe controversy, which brought us to reinterpretation in 2011 in which it clarifies that it only affects sports events betting. Another change happened in 2018, and the act today relates to all online gambling and betting activities.

However, the situation is unclear nowadays, because a few months back, DC Judge created a statement that this particular act should relate only to sports betting, which is still under review, so the future is uncertain.

 

  • Asia

 

The second-largest market for online gambling in Asia, and it will increase by 8% in the next few years. Every single country comes with specific and unique regulations, so we cannot generalize based on the continent. 

Thailand allows online betting on horseracing, while people engage in state lottery in Bangkok. However, they are not allowed to withdraw and deposit money from a casino website, which is why most of them play in brick-and-mortar ones instead.

In Japan, gambling is illegal and banned by the Criminal Code, but the main exceptions include horseracing and motorsports. In China, the situation is the same, but in Hong Kong and Macau, people can engage in sports betting and horseracing.

In the Philippines, casino websites are licensed and approved by PAGCOR, which means that it is one of the biggest online casino markets that people from other countries use. 

In South Korea, playing casino games (카지노사이트추천) is illegal for natives, while foreigners can enroll with ease. However, online gambling is not regulated, and it is considered the same as brick-and-mortar.

Indonesia is strict when it comes to regulations, and they only allow an online lottery, while playing other online games is prohibited. Similarly, as in Indonesia, Vietnam features an online lottery, but that is the only way to enjoy luck games.

India is one of the largest countries, and they have legalized betting on sports activities as well as a national lottery, but playing online casino games is not allowed. 

Most Asian countries have harsh laws when it comes to casino games, and they allow only state lotteries as well as horse and motor racing.

That makes them unappealing choices for online casino operators, but we will see what the future will bring.

 

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