Projections for the gambling industry for 2022

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ith 2021, which is almost behind us, it is time to look ahead to 2022. While it will be a few more months, most business people are already planning strategies for what lies ahead. These were exciting years with many unpredictable events and trends. We have seen how digital currencies, virtual reality, esports, live dealer games, IoT and many other technologies have found their place in the industry. The importance of cell phones to the gambling industry has also been shown. What else have the last two years taught us and what can we expect from the next year?

The year that everything changed

2020 was a year neither of us was prepared for. Due to the COVID-19 pandemic, the world was closed until mid-March, sporting events were canceled and land casinos closed. The operators were preparing for a difficult time, but many were able to make up for possible losses. This was the year eSports began its transition to mainstream. Since sports bettors had limited options, eSports betting came to the fore. The sector grew exponentially, and even as the world opened up, its popularity persisted.

We have also seen more operators adopt crypto payments and blockchain gambling either through integration or standalone platforms. Overall, gaming revenues continued to rise over the course of the year, albeit after a slight slump in the first and second quarters. Overall, it was a year with many paradigm shifts. Games of chance have become more popular, diverse and technologically advanced faster than expected.

What happened in 2021

Almost Offshore has seen a significant influx of inquiries from entrepreneurs looking to start their own gambling businesses. Many were interested in cryptocurrency payments and how to integrate them into their websites. We've also had a lot of esports startups, from betting sites to those that offer additional services.

Latin America showed promise in terms of regions as more governments legalized online gambling or took steps to regulate it. Asia was still one of the leading regions, alongside stable Europe.

2021 was also the year the FATF graylisted Malta. This meant we received multiple requests to move jurisdictions, acquire other licenses, or places like Kahnawake and Curacao.

The upcoming year

2022 will be an even better year for the online gambling sector. According to "Gambling: Global Market Opportunities and Strategies Through 2022"Reports top online and offline projections combined to year-end an impressive $ 565 billion, showing a growth rate of nearly 6% on an annualized basis.

If we just look at online gambling, the picture is even rosier. Numbers from Juniper Research suggest that the total value of online betting could reach $ 1 trillion. The numbers vary depending on where you look, but all of them show a CAGR of over 10% of total growth. Based on a CAGR of 12%, we can expect the value of online gambling to exceed $ 112 billion by 2025.

When it comes to drivers of growth, we should look out for a number of factors.

Load-bearing

Most of us use or have used wearable technology like smartwatches or the like. Many of us also have home assistants or use them on our phones and computers. We expect that betting with these devices will become more and more interesting. While they don't offer much visual, they do offer convenience.

In sports betting, fantasy sports, and even esports in particular, the use of speech recognition technology and AI is sure to be a popular way of betting. While it may not be a massive growth driver next year, we think it is an emerging market worth considering.

New payment methods

Consumer confidence in online payments has increased and, as a result, the demand for payment solutions is increasing. Beyond the traditional card payment methods, there are now many exciting and innovative options available. Digital wallets are now one of the most popular payment methods on the Internet, as are payment processors and integrated payment solutions.

You have to look at it, of course Payments in cryptocurrency, especially other coins, not just bitcoin. There are many popular and stable coins that are widely used for online purchases and spending. The more payment methods and types you have, the more players you can reach.

Mobile gambling

Mobile gambling emerges as a major growth driver every year, but that is the reality. More and more people are turning to the cell phone, and this trend is unlikely to decline or reverse. The more people use the cell phone and get used to it, the higher their demands become.

User experience, speed, graphics, apps or progressive apps - we have to consider all of these in our mobile strategy. When you bring the latest mobile gambling technology to your players, you gain a competitive advantage over those who are not.

If your New Years resolution is to get your online gambling business up and running, it is best to Contact Fast Offshore. We can help you with formation, licensing, payments, compliance, and anything else you need to make your new business a success.

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