COVID-19 offered various indications that this year could be a profitable one for the online gambling industry. With real-world casinos closing due to the pandemic, online gambling became the obvious solution. As a result, we saw a great increase in the number of players registering online. Last year, the market generated a global revenue that’s been estimated to be around $53.7 billion.
Some reports have said that the global online gambling industry will be valued at $125 billion in 2027. As reported here, some countries, such as India, are seeing significant growth. Considering the kind of revenues we saw recorded in the online gambling industry last year, more investors will be looking for a piece of the pie.
Helped Out by the Supreme Court
Then there’s the fact that we can expect more online casinos making themselves available to gamblers in the U.S. as a result of the Supreme Court’s decision to overturn the PASPA’s ruling against sports betting. And due to factors such as improved margins and reduced debts, investors are only too happy to see their stocks continue to rise. But what are some of the best ways entrepreneurs and investors can get involved?
Affiliate Marketing
This is an effective way for the entrepreneurially-minded among you to involve yourselves in online gambling, especially if you run a website or blog with gambling related content. It’s an advantage if you have knowledge of the industry, but don’t worry if you don’t, as there’s no shortage of resources available online to help you build up your knowledge base.
Affiliate marketers are a big part of what makes an online casino succeed, as they generate traffic for online casinos and sportsbooks after warming up the customers by giving them an idea of what they can expect from their experience. Affiliate content can take the form of product reviews designed to have the customer visit the operators’ websites. It can also be something as simple as a banner ad. However it’s done, an affiliate is paid for each person who clicks through to the site and becomes their customer.
Investing
The industry’s changing landscape provides numerous opportunities for anyone wishing to either start a business or invest in one. These areas include online casinos, sports betting, esports, and fantasy sports.
Online Casinos
When it comes to online casinos, one thing that had proven to be difficult was the smartphone market, due to Google’s and Apple’s strictness when it came to gambling apps. However, more recently, they seem to have relaxed their rules, now approving apps from developers with a betting license in the territory they’re targeting. These licenses are becoming easier to obtain as countries want to give licenses and take advantage of the tax revenue. With a growth of middle classes in developing countries, there’s more disposable income available, with a significant new opportunity for those wishing to capitalise on new markets.
Sports Betting
In the wake of the sports betting law being overturned in the U.S., companies are looking to cash in. As such, sports betting has become huge in the States. It’s been estimated by the American Gaming Association that Americans bet $150 billion a year in sports betting illegally. With its newfound legitimacy, we can expect even more money to be spent on sports betting.
Wrap Up
There are plenty of lessons to be learned from the pandemic when it comes to starting a business. And plenty of opportunities too, including in online gambling, which has been one of the biggest beneficiaries of COVID-19. It seems clear that opportunities will continue to present themselves to investors and entrepreneurs, as the online gambling industry continues to grow.
