Online gambling games and the gambling industry in general grow rapidly every year. That is why many countries are looking forward to legalizing such a profitable market. This type of business is still not legal everywhere, and this fact makes many people wonder whether it is legal or not in their country.
Further, we will find out the best markets for online games in 2024. No matter if you are a gambler, investor, or operator, this article will give us rich insights into the prospect of online gambling.
Countries with a Legal Gambling Market
The existing online gambling activities can be found in some countries all over the world. These countries are Sweden, Gibraltar, Canada, the United Kingdom, the Philippines, Romania, the United States, Mexico, Argentina, and Italy. They have valid regulations for the gambling business that contribute to its development and prosperity.
The United Kingdom
It has been many years since all UK citizens have had the opportunity to plunge into the realm of gambling activities. The Gambling Commission of the United Kingdom (UKGC) is in charge of establishing and enforcing the rules for this type of entertainment, making sure that gambling companies with appropriate licenses can operate within the UK. Many kinds of sports, including gambling games, are in great favor in the country, which in turn bred a solid culture of games of fortune and chance. Many gambling ventures have UKGC licenses even though they are not located directly within its territory.
The lucrative UK gambling market attracts many new enterprises, but from year to year, it is becoming harder to join it because of tight rules and regulations by the UK Gambling Commission. Such strictness is driven by the need to protect gamblers and guarantee fair and proper gaming practices. As a result, it has become more challenging for all beginners to start such businesses in the country.
The USA
The United States is an outstanding country as far as gambling is concerned. This country has the largest share of gamblers in the world, which is about 70%. Recently, some more states legalized online and physical gambling, letting their people gamble on the spot without going to the other states. Nevertheless, even those states that still have not legalized gambling activities are full of people who make bets on gambling sites with offshore licenses.
Romania
Romania is one more developed place that provides all favorable conditions for online gambling. The country is known for its properly regulated market that has become a hub for gambling activities since the beginning of the 2000s. The local governmental entity RNGO (the Romanian National Gambling Office) issues respective licenses and ensures the observation of regulations.
Although gambling activities are the same in all countries, the rules and regulations for them may differ much. Therefore, before starting to gamble, please check carefully the legal status of gambling online in the place where you are about to play.
Italy
Italy is another place with a properly regulated and established online gambling market. The local body (AAMS) maintains supervision over the gambling market, ensuring protection for all those who decide to gamble. Even though the taxes are rather high for all local operators, the market grows steadily and is likely to grow further.
Sweden
Sweden has its regulatory body referred to as SGA (Swedish Gambling Authority). The main objective of the SGA is to supervise the Swedish Gambling Act that was implemented in January 2019. The main aim of the Act is to ban any types of gambling activities that do not have a relevant gambling license.
The gambling business comprises about 1% of Swedes’ net profit, where about 60% of people play gambling games at least one time a year. Local gambling companies provide employment for about 2.5 thousand persons. In addition, 10 thousand people are employed by the companies that operate abroad having licenses issued in Sweden.
Countries that Will Allow Online Gambling Soon
Due to the high rate of profitability of any gambling business, it has become a coveted prize for anyone who decides to start it. Along with countries that have made gambling activities legal, there are a number of those where gambling is still not legal but is going to become legal soon. Let us look through the countries that will accept the gambling business soon enough with a high degree of probability.
Brazil
Brazil is one of the prospective countries that are expected to allow the gambling business to establish its activity within its premises. The country is overwhelmed with many economic problems, and the establishment of online gambling can become another source of revenue. The local authority initiated the first steps aimed at making sports betting legal, which is a promising sign on the way to the legalization of the gambling industry.
India
India is a country that comprises more than one billion people. Implementation of online gambling businesses will bring a fortune for those who will manage to become the first ones to enter the local gambling market. Today, the gambling market in India is considered gray. Nevertheless, the Indian authorities are currently developing a regulatory framework for gambling activities, prompting suggestions that it will be legalized soon.
The United States
Although the United States is already the largest gambling market, some states are still reluctant to accept such a type of business activity. However, some of them, including California and New York, are expected to do it soon for sure.
Conclusion
Online gambling is another type of business that develops fast and is going to do it in the future, bringing a huge amount of revenue. Many countries like Romania, Sweden, and the UK understood the advantages that the gambling business brought a long time ago, and such business has been thriving for many years. The future of gambling companies is safe since gambling has become more and more popular all over the world.
