Online gambling is flourishing every day and with huge potential for further growth. The growth rate from 2020 to 2021is from $64.13 billion to $72.02 billion; the robust growth rate is expected to continue in the coming years. Many governments are taking a liberal; stance towards gambling and taking appropriate steps to make it legal. For instance, the Dutch government stringently controlled the gambling market until recently. The government passed Remote Gambling Act which entitled players to gamble legitimately in online casinos. Furthermore, the resolution allows players to enjoy a large array of games that was unavailable beforehand.
The market researchers deemed the legislation beneficial to the gambling market, as the regulated environment will attract large overseas operators. The controlled market will fuel revenue growth, and the estimated value will be around €1.1 billion by 2024. Even if you are a Dutch player, you can log on to Easy Crack Slots 2021 (สล็อตแตกง่าย 2021) and enjoy a wide variety of casino games.
The most prominent online gaming growth happens in regulated markets as both operators and players feel safe to indulge in gaming leisure. But in the grey market with ambiguous gambling laws, the popularity of cryptocurrency casinos is increasing. Taiwan is a classic example of this scenario; despite a blanket ban in the region, casinos that accept cryptocurrency are flourishing. Cryptocurrency casinos are targeting the Taiwan audience because people are willing to use digital currency to avert the legal framework. New casinos with crypto addresses are gaining unprecedented popularity in Taiwan. The same trend is emerging in Asia-Pacific, where online gambling is sternly regulated or limited.
Italy continues to be the largest gambling market in European Union. In 2019 the GGR of the Italian online market was stupendous €1.85 billion, and the tax rate was 22%. The government earns huge revenue from all licensed gambling service providers. For these multiple benefits, the growth of the regulated gambling industry is encouraged in Italy. The regulations regarding gambling are lax compared to other European nations. Italy has a strong lineage with gambling as the word casino is originated from the word “casa,” meaning house, and the oldest casino is located in Grand Canal in Venice. This explains the strong affinity to gambling among the Italian people.
In India, land-based casinos are prohibited; the situation is somewhat similar to the Taiwan market. Each Indian state has its gambling rules, but online gambling is not forbidden. Due to the ambiguous law, online gambling is flourishing in India, with a massive growth rate of 115%. The growth rate of online gaming is pronounced by internet penetration, easy access, and economical tariff of mobile internet. As more Indians have access to mobile and the internet, online gambling attracts more patrons. In 2020 around seventeen million people have spent approximately INR 20 billion on online casino games.
Most Indian gambling legislatures are pre-internet era; it bans physical gambling in betting houses referred to as gaming houses or common gaming houses. Most state laws allow games of mere skill and disallow games of chances.