The online entertainment industry continues to go from strength to strength and can be seen through the purchase of prolific Ladbrokes Coral by rival GVC in December last year for £4bn. Clearly, for those with the correct skills and talent, this business can be extremely profitable but does carry many risks for the uninitiated. If you’re looking for a new business venture check out our five reasons you should look no further.
1. The Industry Experiences Huge Growth Every Year
In the US, the statistics show that the size of the global online gambling market has rapidly increased since 2009. For example, in 2015, the online gaming market had a volume of 37.91* billion U.S. dollars, and is forecast to increase to $59.79 billion in 2020. In the UK, the market value this year is expected to hit an impressive £37.4bn*. You only have to look at high performing casino game sites such as Wizard Slots– where you can play on their casino online – to see that evident growth. Therefore, it can be argued that now is a better time than ever to get involved a secure a piece of the profit.
2. An Increase in the Number of Regulated Markets
Due to the change in regulation and attitude of European governments towards gambling and other countries with gambling-friendly laws, there are now a number of business opportunities for those who seek them. With increasing competition from the online regulation, make sure to establish your new business in the market before competition becomes even greater.
3. The Increase in Popularity of iGaming
Technology literacy continues to grow every year, with new generations growing up fluent in all the latest gadgets and forms of entertainment. This will inevitably increase the move towards online gambling websites for leisure due to ease of access alone. Mobile games remain one of the most downloaded application categories in app stores across the world. Markets like China primarily use this platform for all their needs, ignoring mainstream consoles and computer devices.
4. The Consumer Journey for Betting is Easy
An increase in the proliferation of faster, smarter technology that fits into the palm of our hands means that the simple act of placing a bet has never been easier. Convenience, and ease of internet gambling continues to attract huge numbers to online gambling which gives iGaming a lasting edge you can take advantage of.
5. Internet Gambling Occurs More Frequently
Various studies have shown that the frequency of online gambling has overtaken land-based efforts by almost double. Any smart businessman would do well to take that knowledge and focus their business around this increase in frequency.
A decision to start a new business must never be taken lightly, however. Do the research and check the facts before starting out. If you have the ambition and drive then this industry can provide ample rewards for both investors and operators.