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Why Investing In Gambling In 2022 Is A Good Idea?
Tuesday, 26 October 2021
With the year coming to an end, it’s time to look ahead and consider new horizons for 2022. For many of you, that will include considering new business and investment opportunities. So, what about the online gambling sector? Is it worth investing in during 2022, and if yes, why?
The sector is growing
In 2020, the online gambling sector was valued at around $64 billion. This is expected to surpass $72 billion with a compound annual growth rate of over 12% by the end of this year. This means it will reach at least $112 billion by 2025, almost doubling in value in just five years. There aren’t many other sectors that can demonstrate such growth, especially during a pandemic. So, what’s driving it?
Several factors contribute to the situation. Increased mobile usage is just one. There are over 7.1 billion mobile phone users globally, most of whom have smartphones and access to the internet. This has fuelled a significant influx of new and existing gamblers to online sites. Ease of accessibility to low-cost and high-speed internet is another factor. Now more straightforward than ever, people are connected and ready to play.
The situation is stable
You might be wondering whether this growth is sustainable? Or whether there is still room for new operators in the sector? The answer is yes and yes! The development of the online gambling sector isn’t at such a rate that it is at risk of collapsing. It represents a steady incline supported by a growing population and many existing people who haven’t discovered online gambling yet. Simply put, there are enough new and future customers to go around, and this is unlikely to change anytime soon.
We cannot imagine any event that would see millions of customers moving away from online gambling, so we consider the situation stable. Even in situations where regulation or licensing requirements tighten, as is the case in some jurisdictions, online gambling will continue to flourish.
It doesn’t have to be difficult
Setting up an online gambling company costs money, and it takes time. There are many documents involved, an application process, and other matters like incorporating a company, setting up payments, and ensuring compliance. The best way to take care of the process is by partnering with a corporate service provider.
We offer both custom and off-the-shelf packages to suit every customer's needs. Using a corporate service provider to help you open your company saves time, effort, and potentially costly mistakes. If the complexity of opening your gambling site was putting you off, don’t worry anymore.
One of the great things about this sector is that it’s constantly evolving. Countless new and emerging technologies are boosting the industry every year. Cryptocurrency has made a significant impact on iGaming, with more operators incorporating crypto payments into their platforms. Other technologies include AI, which is being used widely in compliance and customer services, and live streaming technologies, which facilitate live dealer games.
IoT is another one to watch, particularly in the sports betting sector, and of course, mobile betting and progressive apps remain extremely popular. Another area to watch is eSports which has emerged over the last two years and crossed over into the mainstream, bringing millions of new players. There are many examples and many more to come, so be sure to keep your eyes peeled for emerging trends and technologies for your gambling site.
We’ve been working in online gambling for almost 24 years, and it’s safe to say we know the sector inside out. During that time, we have worked with countless clients, helping them set up their gambling companies. Our services include company incorporation, licensing, payments, and compliance. If you want to find out more or discuss your business idea with a professional, we are here and ready to help!