The quick growth of the iGaming market

The past two years have seen many industries suffer due to the constant threat of COVID19 spreading around the globe. You name it – tourism, hospitality & airlines have all been thrown into the abyss by this outbreak.

What about the iGaming sector?

Well, if you’re new to the world of iGaming, it’s easy to get lost while trying to figure out what markets are currently on fire.

Know this though: the iGaming industry has continued to soar, producing billions per year as online gambling in the form of both sports betting and casino games continue to surge.

Turns out, it’s all too easy to find yourself at the mercy of a virtual casino online.

As a whole, online casinos and online poker rooms have exploded on both continents, such as Asia, South America, and Africa. People are becoming more open to playing games with others around the globe through technology instead of just their local areas or cities like they were before.

However, there are few countries where the industry has exploded onto the scene… quite a bit!

Here are they:

• INDIA
• NIGERIA
• LATIN AMERICA (Brazil, Colombia)

Now, let’s take a good look at them.

1. INDIA

Just for 2021 alone, the gambling market in India is worth close to €1 Billion! This makes it extremely valuable as a market when speaking about online gambling throughout the whole world. However, due to regulations (after all, 29 states in India have their own specific laws and whatnot), there are some issues when it comes to compliance.

Regardless of this fact, European gambling companies continue to invest in this market. The value of iGaming in India is just too profitable to neglect.

Fun facts: during these lockdowns, the gambling market in India saw an upsurge of 21% – which is quite impressive. Another ‘fun-fact’ is that 15% of the world’s gaming traffic comes from India.

2. NIGERIA

In Africa, sports, particularly football, is king: Nigerian fans support teams from Europe’s biggest and most famous domestic leagues.

But that’s not it. There’s an upsurge in the usage of mobile devices. They are not way more affordable than before. And lots of Nigerians prefer playing on-the-go. Combine this with the improved internet infrastructure in those places.

What do you get? 60 million people out of 200+ million population that actively use online gambling platforms (sports betting in particular).
As of now, Nigeria is just behind South Africa when it comes to iGaming and African countries. But in the next 5 years, that will increase up to 15-20%.

3. Latin America

We’ll speak about Brazil and Colombia as a whole. Why? Because they seem to be the leaders when it comes to iGaming in that region.

In general, you can compare this region to Nigeria. Both like sports. So, many of them are into sportsbooks when it comes to iGaming (and not so much online casinos).

Now, with a combined population of over +250 million people; and with the market becoming increasingly regulated, iGaming companies can reach more of those regions’ vast population.

They have a lot to catch up with the rest of the world, but we know one thing, though – these numbers will continue to rise as more gambling operators invest in these regions.

Published on: 03rd Aug 2021