Forecast: The Best New Markets for Starting an iGaming Business

The United States

The US had some of the strictest gambling laws for a long time. This was the result of a law that essentially prevented state governments from establishing their own rules. In 2018, this law was scrapped and the gold rush was on.

In the short time since then, many states have passed or are passing new laws concerning online gambling and sports betting. New Jersey, Nevada, Pennsylvania and Delaware now allow online gambling, while 10 states, including Rhode Island and Oregon, have legalised sports betting.

Colombia

Gambling is legal across Latin America, but not in all forms. You can play lotteries in most countries and there are also racetracks and even the occasional sportsbook. Colombia, however, is one of the few to have legalised online gambling, opening the doors to many new opportunities and potentially triggering a deluge of bettors from neighbouring countries in South America.

There are close to 50 million people in Colombia, which is less than the UK, but there are over 420 million in South America on the whole and many millions more in Central and North America. That’s a lot of potential gamblers that may see Colombia’s legal gambling market as the perfect excuse for a tourist.

India

India hasn’t yet introduced widespread legal gambling, but there are changes taking place as the government looks to safeguard the many gamblers who are using illegal and potentially dangerous sites overseas. The population of India is over 1.3 billion, which is more than 20 times bigger than the UK. They also have a huge daily fantasy sports industry. In fact, there are nearly as many Indian players signed up to these devices as there are people in the UK.

That gives you an idea of just how lucrative this market could be, and that’s why India is being targeted by so many iGaming companies.

Portugal

Portugal has legalised most forms of gambling, including online gambling, which was legalised back in 2015. Since then it has become a hub for many of the world’s biggest gambling brands. At just over 10 million, it doesn’t have a huge population, but that population swells every year as tourists flock to its beautiful towns and cities. There is a lot of potential here for anyone looking to establish an iGaming website.

Conclusion

The UK market used to be one of the best and most lucrative in the world, but the regulators have recently made a lot of changes that have applied pressure to operators and made life difficult for casinos. There are also concerns that Australia, formerly one of the best markets in the world, will go the same way.

But if countries like the US and the others on this list continue to broaden their options and embrace this industry, it will simply be a case of “out with the old; in with the new”.