About iGaming
What Is iGaming?
Simply put, iGaming is any kind of online betting that wagers on the future outcome of a game or event. Sports betting, online casinos, poker, and eSports all fall under the iGaming definition.
The online gambling market is worth an estimated $66.7 billion per year when you factor in every available market. As more US states launch iGaming and Canada launches their own market, this figure will continue to grow significantly for years to come.
The growth of iGaming
The iGaming industry, also known as the online gambling industry, has experienced rapid growth in recent years.
This growth can be attributed to a number of factors, including the increasing availability of internet access, the proliferation of mobile devices, and changes in legislation. One of the biggest drivers of the iGaming industry’s growth has been the expansion of online sports betting. In the United States, for example, the Supreme Court’s 2018 decision to strike down a federal ban on sports betting has led to a wave of states legalizing and regulating the activity.
As a result, the U.S. online sports betting market is projected to reach $9 billion by 2025. In addition to sports betting, online casinos and online poker have also been major contributors to the growth of the iGaming industry.
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Online casinos offer a wide range of games, including slots, table games, and live dealer games, while online poker allows players to compete against each other in real-time.
One of the biggest challenges facing the iGaming industry is the need for responsible gambling practices. With easy access to online gambling, there is a risk of problem gambling and addiction. As a result, many countries and states have implemented regulations to mitigate this risk, including setting limits on deposits and losses, and implementing age verification measures. This is why iGaming is increasingly looking for talent to develop, train and regulate the industry going forwards.
The online gambling market is worth an estimated $66.7 billion per year when you factor in every available market. As more US states launch iGaming and Canada launches their own market, this figure will continue to grow significantly for years to come.
Exciting Developments!
Also, the rise of Virtual Reality and Artificial Intelligence are becoming more prevalent in the iGaming industry, as more and more casinos are offering players the chance to experience a more immersive and realistic gaming experience. The iGaming industry also has a big impact on the economy, as it creates jobs and generates tax revenues. In addition, with the rise of mobile gaming, it also creates opportunities for game developers and businesses in the mobile app industry.Â
Register for a new career!
In conclusion, the igaming industry has come a long way in recent years and is showing no signs of slowing down. The industry’s ability to adapt to new technologies, its willingness to implement responsible gambling practices, and its potential to generate economic benefits make it a sector to watch in the years to come. As igaming continue to expand in both reach and complexity, government and industry will need to work together to ensure that players are protected, that the industry is transparent and well-regulated, and that the social and economic benefits of igaming continue to be realized.