Online gambling has seen massive growth over the past decade, becoming a $66.7 billion global industry as of 2020 according to Statista. However, legislation surrounding the activity varies widely between countries and even states. As internet access rises across the globe, calls for updated regulations have increased as well.
What does the future likely hold for online gambling laws and further expansion of this massive sector? Here we analyze current Sisal casino trends and aim to forecast what may be ahead.
Rapid Industry Growth Shows No Signs of Slowing
Online gambling has seen year-over-year growth for more than a decade now. According to Grand View Research, the global online gambling market size was valued at $58.9 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
Driving this immense growth is rising internet access and adoption across the world, allowing more players access to online betting sites. Additionally, advancements in mobile technology, secure payment options, trust in gambling operators and an increase in live-online versions of popular casino games have fueled further industry expansion.
Let’s glance at a few key revenue statistics across major global markets:
| Country/Region | 2020 Revenue | 2027 Forecast |
| North America | $24.11B | $114.4B |
| Europe | $22.74B | $81B |
| Asia Pacific | $12.46B | $102.6B |
| Rest of World | $7.38B | $40.8B |
With online gambling revenue expected to more than triple in North America and Asia Pacific over the next five years, most research forecasts point to sustained industry growth for the foreseeable future.
Differing Approaches to Gambling Legislation
One major obstacle slowing online gambling growth? Varying regulatory frameworks between markets. Some take controlled approaches while allowing access and generating tax revenue, others push strong prohibition. This can limit multi-market operators.
For example, parts of the U.S. have embraced online betting, including New Jersey, Pennsylvania and Michigan. Allowing intrastate online gambling while reaping the tax benefits has proven a success. Other states are following suit. But national legislation standardizing regulations could accelerate growth much faster.
Similarly, the U.K. fully embraces regulated online daily drop jackpot, resulting in 33% of citizens partaking compared to just 16% across Europe. The U.K. market continuing maturation sets an example for other European nations.
Meanwhile, markets like Australia allow access but levy heavier regulations, including banning certain bet types. And countries like Singapore, Thailand and Indonesia enforce outright prohibition with no legal access currently. Though black markets persist despite bans.
As revenue potential becomes increasingly clear, trends point to more markets eventually allowing legal regulated access similar to the New Jersey or U.K. examples. But varying approaches are likely to remain between regions for years to come.
The Push for Consumer Protections
While increased access expands markets, concerns around responsible gambling and consumer protections are likely to shape future legislation as well. Expect tighter controls like deposit limits, loss limits, exclusion options and age verification requirements to become standardized across markets.
To that end, research shows that proper regulations can successfully expand markets while prioritizing responsible gambling and consumer safety. For example, analysis indicates that Pennsylvania’s online gambling legislation has achieved this balance well, benefiting revenue while establishing clear oversight by gaming authorities to identify problematic behavior.
Future legislation will likely strike compromises allowing access but enforcing operator accountability and consumer protections. Centralized digital platforms offered by regulators and shared by all licensed operators may emerge as well, facilitating responsible gambling initiatives.
The Bottom Line
Forecasts clearly predict substantial continued growth ahead for the global online gambling industry. Sustained expansion seems imminent as more markets regulate to allow access while benefiting from potential tax revenues.
However, disparities in legislative approaches between markets will persist to a degree. Some nations seem destined to fully embrace regulated online gambling similar to New Jersey or the U.K. Others appear inclined to enforce stricter regulations or even outright prohibition.
Nonetheless, whether a market allows access or restricts availability, expect a universal emphasis on responsible gambling and consumer protections to shape legislation worldwide moving forward. If achieved properly, this balance can sustain substantial industry growth for years to come.