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According to economists, the global market for casinos and internet gambling will be worth 231 billion US dollars in 2021. And it will generate record revenues in 2023 of more than $525 billion. At the same time, the average annual growth will be about 11.5% during 2022-2025.
Every year, hundreds of new players from India and abroad join large online platforms like RajBets casino, a major player in the Indian gaming sector.
Let’s see which markets experts consider the most promising in 2023.
Market segmentation
Indeed, the COVID-19 pandemic has positively impacted the market’s growth. As a result, consumers have turned to online platforms more to overcome the financial, social, and psychological crises during the quarantine.
Let’s look at the criteria for dividing the gambling market below.
Market Segmentation by geography
North America
- United States
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
East Asia
- China
- Japan
- Rest of East Asia
North Asia
- India
- Rest of North Asia
Southeast asia
- Malaysia
- Thailand
- Singapore
- Indonesia
- Other Southeast Asia
Oceania
- Australia
- Other of Oceania
Rest of the world
- South America
- Middle-East and Africa
You can also segment the market depending on the platforms they operate on.
Market Segmentation by Platform
- Land-Based
- Online
- Metaverse
- Desktop
- Mobile
It is also important to draw attention to the cryptos gambling business individually. This is a rapidly developing segment that should be considered.
The most promising markets
Before we get acquainted with the world’s most promising markets in terms of geography, let’s turn our attention to the crypto casino market.
Crypto gaming
It is undoubtedly the youngest but, at the same time, the fastest-growing market. For example, back in January 2021, bets made by cryptocurrencies accounted for only 23% of the entire market. Still, by the end of the year, it had grown to 40%. Now crypto casinos receive half of all bets in the world.
Most professional players conclude that betting in crypto casinos is much safer than in traditional ones. Well, of course, many are attracted by complete anonymity. And even despite some fall of cryptocurrencies in the recent past, there are still no signs that the crypto casino growth trend is declining.
Let’s now analyze the largest and highly fast-developing gambling markets worldwide.
India
This is one of the most promising markets in the world, growing by 20% every year. Even though some regions have restrictions on gambling, this industry continues to overgrow.
Of course, this is facilitated by such factors as the spread of high-speed Internet, the availability and simplicity of mobile applications, and high-quality online platforms, such as rajbet.com, where the most exciting games of chance are collected.
Unique and non-standard bonuses help to attract users who play for fun and/or increase income. Therefore, every year more millionaires in the country win thanks to the best casino apps in India.
Latin America
The figures in this area vary depending on the region and legislation. Still, experts predict that the online casino market here will reach $3 billion a year in the next couple of years.
Malaysia and the Asia Pacific
In 2019, the market size in this region exceeded US$15 billion. The figure is even higher this year, with local analysts predicting a rise of around 18 percent in the coming years. After this, experts say that growth will slow down a little, but it will not be at the level of zero.
Japan
In 2021, the market volume was US$ 6.7 Billion, but for the next year, the forecasts in this part of the planet are simply fantastic. Experts agree on more than US$ 10.1 billion.
Play for Growth, Grow for Play
There are clearly a vast number of positive factors driving the development of the online gambling industry. First, let us recall Mark Zuckerberg’s Metaverse, where a whole virtual world with different casinos inside is already operating at total capacity. Therefore, it becomes obvious that this global industry will only develop in the future.
