Details of the region: What should the company know before launching the Igaming site in 2024?

The Igaming market is different. "Each region and each region have its own characteristics. It is reflected in the difficulty of doing business, the use of tools, and ultimately reflected in the industry's interest and growth rate," Igaming Business. BETB2B, which provides software for, commented.

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According to Statista, the global Igaming market will grow to $ 184 billion by 2032. In 2024, $ 107 billion and $ 30 billion are expected. The Igaming Market includes sports betting and online casino games, including various online Loto games.

The 2024 online casino industry expects a 38. 96 billion dollar revenue. The annual average growth rate (CAGR) is 5, 38%, and in 2028 it is expected to earn $ 48 billion.

The world's online sports betting industry is expected to be $ 490. 9 billion by 2024 by 2024. The annual average growth rate is 7, 68%, and by 2028, revenue will grow to $ 670, 17 billion.

In addition, e-sports betting is now gaining great momentum. This is a bright side of the structure of egaming. This sector has a very high possibility. The ESPORTS industry is changing to a professional sports market with all characteristics, such as large tournaments, large sponsors, large spectators, and huge funds. But no one knows exactly how such a bet will work in the future.

Analysts predicted that the ESPORTS betting sales in 2024 were $ 2. 5 billion, the annual average growth rate (CAGR) was 7. 27 %, and sales in 2028 were $ 3. 3 billion. Despite the fierce competition, the market is not overheating. Insufficient stock disclosure is lacking, and investors are eager to provide funds to new projects.

"Betting platform, online casino platform, sports book, handheld solution, etc.

The Internet is a global network, but Igaming companies are doing business in specific countries and regions that have licensed in certain jurisdictions. Therefore, knowledge of these regional markets, volume, characteristics, and abilities is important.

The world's Igaming Market can be divided by region:

• Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia, Vietnam)
• North America (USA, Canada, Mexico)
• South America (Brazil, Argentina, Colombia, etc.)

European iGaming Market

In 2024, European iGaming revenue will reach US$46. 9 billion. The compound annual growth rate (CAGR) is 4. 72%, and the market size will exceed US$56 billion by 2028.

In the overall structure of the European iGaming market, the capitalization of online casinos will exceed US$20 billion in 2024, and the average revenue per player (APRU) will be US$840. The number of online casino players is expected to exceed 37. 5 million, and the user penetration rate in 2024 may reach 6. 5%.

The sports betting industry in Europe is also expected to grow significantly. Profits from online sports betting are expected to grow to $17 billion in 2024. With an annual growth rate of 5. 3%, the European betting market will reach $21 billion by 2028. The number of players will increase to nearly 44 million.

The European audience is very passionate. It is worth noting that European online casino players prefer slots, poker and roulette. When it comes to betting, Europeans prefer major sporting events. The most popular sport for betting is football.

Despite the growth of the iGaming market, operators face some difficulties in their operations. This is due to heterogeneous regulatory policies regarding gambling.

The most popular jurisdictions to obtain a license in Europe:

Each has its own characteristics. For example, in Curacao, it is 2% of net profits. Some are quicker to obtain a license. It offers the opportunity to do business, including in the member states of the European Union. To do business in the UK, a license from the Isle of Man or Gibraltar is required.

“However, despite the cross-border cooperation between countries in the European region, individual countries may limit the depth of iGaming by bet type, direction and game locally.

Middle East and Africa iGaming Market

Most countries in the Middle East have acknowledged that players will access overseas sites, even if the Islamic method imposes severe restrictions on the development of the gambling industry. This is because gambling regulations abroad are not so strict. Online casinos are indicating the needs of citizens in a specific country. This is especially true for Lebanon, Israel, Egypt, and the United Arab Emirates.

In recent years, Sports Betting has become increasingly popular in Arab countries. The top soccer leagues and teams in Asia are concentrated in the area, soccer, Rakuda Race, Formula Race, and horse racing are the most popular sports in the area. Sports events, both in Japan and overseas, attract the locals and bet on their favorite teams through popular international betting sites. These platforms have responded to the Arabs's betting needs to some extent, but they lack translation into Arabic and local languages.

Stella's expert predicts that the rapidly growing Igaming industry will eventually revolutionize the economy on the African continent. Countries such as South Africa, Nigeria, and Kenya provide major investment opportunities due to its dynamic economy and online sports betting.

Currently, Sportsbetting in Africa is soccer and horse racing. According to Stellar's survey, more than 50%of South African people regularly perform sports betting. Soccer is the most popular sport in Africa, and people on the African continent are very enthusiastic about sports. Therefore, African bookmakers need to support the online or mobile approach and take into account the trends of the locals.

Eagering in the Asi a-Pacific Ocean

The area has a strong Igaming culture, but betting and online casinos are completely or partially prohibited in many countries. However, despite the 2023, for example, the Asia n-Pacific region in the online casino industry was 47, 11 %. This big market share is largely due to a large and rapid growing audience.

Because it tends to find access to roun d-abut gambling as well as the incredibly high population density (4 billion) and a huge audience. In this area, gambling such as sports betting (soccer and cricket), poker, slot, and lottery is preferred.

Currently leading the market is Macau and Hong Kong, which is expected to grow with an average average growth rate of 11%in the next few years.

iGaming in North America

Gambling has become legal and more accessible in North America. Horse racing betting has been legalized in most regions. Recently, states have legalized online betting, including casino games, poker, fantasy sports, and lotteries.

In the current US legal framework, bettors licensed in Nevada, Pennsylvania, Delaware, and New Jersey can operate as online betting is regulated in these states.

The largest market share is in Canada. However, when it comes to iGaming, unregulated slot machines are considered more popular due to the scale of technological innovation. Recently, live casinos with many dealers and real-time commentary have become popular. This gives the impression of a real gambling establishment.

According to Statista, the North American market will grow with a revenue of $290, 940 billion. With an annual growth rate of 9. 02%, revenue will be $420. 3 billion by 2028. At the same time, sports betting will generate $1187 billion in 2024.

iGaming in South America

The South American market is promising for the gaming industry. The largest share is held by Argentina, with a population of about 45 million. Gambling is only regulated at the state level, and operators can only provide services to residents of that state.

"South America has long been on the radar of investors considering gambling businesses. It is a large market with millions of people interested in gambling and sports betting.

The second largest market for the iGaming industry in South America is Brazil. The country is an avid soccer fan, so its citizens have an active interest in the industry's sports betting. This market has another important advantage. Brazil has a population of about 200 million people, more than half of whom have access to the Internet and smartphones. The largest demand is, as already mentioned, soccer betting, but horse racing, mixed martial arts and basketball are also booming.

Looking at the experience of Colombia, Mexico and Panama, we expect to obtain iGaming licenses in Brazil, Peru and Chile in 2024. The sports betting, online casino and bingo market is expected to reach $3 billion by 2027. It is estimated that the iGaming business in South America will make a profit of 5 billion and 10 billion US dollars in 2024.

According to Statista's expert forecasts, this market will grow at a CAGR (compound annual growth rate) of 12, 05% by 2028, reaching 804 billion US dollars. Online sports betting in South America is expected to reach 229 billion US dollars in 2024.

The average revenue per user (ARPU) of the igaming industry will be 582, 60 US dollars in 2024. Also, by 2028, the number of players in the igaming industry will reach 10, 4 million. According to the agency, by 2024, 2, 1% of South Americans will participate in igaming.

"The main drivers of the spread of gaming and sports betting in South America are the widespread availability of affordable internet and the general increase in wealth" - BetB2B

BETB2B: Success of igaming?

The success of operators in the igaming industry depends on understanding the needs of the public and the market. To do this, companies need to constantly collect and analyze data and be ready for change and growth. There's a wealth of data online, so at first glance, it can seem like you don't know where to start with your market analysis. "First of all, you need to study the region where your igaming project is planned, learn more about the market, gather statistics and predict all possible crises.

For your igaming site to be successful, it is important to offer the type of gaming entertainment that is in demand with the local audience. Take into account cultural characteristics and financial opportunities and ensure long-term investment in the development of your project.

Involving a team of industry experts is highly beneficial. Such a team can provide detailed information on each field and provide you with everything you need to start a business: analysis, support, specialized software, sports, payment technology, etc.

Understand local preferences

1. Cultural characteristics: Customize your offering to suit the tastes and cultural habits of the local audience.
   • Economic opportunities: Consider the economic situation and economic opportunities of your target market.
   • Invest in long-term growth: Make sure your project is scalable and sustainable for long-term success.
2. Involve industry experts
   • Local insights: Experts can provide detailed information on local preferences and regulations.
3. Comprehensive support: From market analysis to customer support, our experts will help you streamline your operations.
   • Specialized software: Use advanced software solutions tailored to the needs of the igaming industry.
   • Integrate with sportsbooks: Offer a wide range of sports betting options to attract a diverse audience.
   • Offer a wide range of payment technologies: Implement reliable and secure payment solutions to enhance user experience.
   • Focusing on these key aspects allows igaming companies to effectively respond to local requirements and successfully launch and operate their websites.
   • Source: BetB2B - IGAMING PLATFORM PROVIDER