Friday, February 23, 2024

Why is iGaming one of the most promising niches for a job seeker today?

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As of 2023, gambling is considered one of the most popular areas of online marketing. All over the world, the attitude towards the vertical of gambling, as well as towards online casinos, is changing due to many factors, the most important of which is the recognition by many countries of the legality of this way of earning.

In this article, we’ll be discussing why working with a gambling vertical is so profitable and popular on the market. We’ll also discuss why you shouldn’t be afraid to try your hand at working with an online casino.

Online casinos emerge from the shadows

Today, more and more countries are inclined to believe that the legalisation of casinos is more beneficial for the economy than a complete ban. Shady gambling not only deprives players of the protection of the law and provokes the development of crime, but also deprives the treasury of additional income through tax deductions.

Therefore, even conservative countries such as Azerbaijan and Turkmenistan, distinguished by historically strict morals, have adopted a law on the legalisation of online casinos as of 2022.

The following countries are where online casinos are not restricted by law:

  • Albania
  • Malta
  • Andorra
  • Faroe islands
  • Kosovo
  • Liechtenstein
  • Belarus
  • Isle of Man
  • Gibraltar

By 2020, the number of online casinos had grown from 45% to 60%, a number which, according to many forecasts, will continue to grow. This is due to the fact that it has become easier for operators to obtain a licence and play openly than to hide and constantly create new mirrors for the site. More importantly, it can now be done legally.

The popularity of gambling in numbers

The online casino market was formed 5 to 7 years ago and is considered one of the youngest areas of online marketing. According to Gambling.net, about 85% of American adults have played at online casinos at least once in their lives. Almost 26% (1.8 billion) of the world’s population gamble regularly, and roughly 5 billion do it at least once a year.

The 2021 report of the European Gambling and Betting Association states that almost 62% of Europeans have wagered on something during the year, the vast majority doing so at online casinos. In 2021 alone, online casino revenue in the United States amounted to $53 billion, once again proving the massive popularity of the gambling industry.

Gambling is popular not only in Europe, but also in African countries. South Africa, Nigeria, and Kenya are considered the market leaders on the continent.

Reports from the UK Gambling Commission (UKGC) show strong online engagement rates that have continued to rise since the pandemic. It was then that a sharp jump in the popularity of the industry as a whole was recorded. As of 2022, the European online gambling market was 67% of the global one.

According to The Gazette and The Herald, online gambling accounts for 38.8% ($3.4 million) of total gambling revenue in the country. This trend is closely related to the decrease in the popularity of land-based casinos and gambling establishments.

The profit from the online segment in 2021 exceeded $180 billion. Games with elements of augmented reality and improved graphics were especially popular. Advanced gamers trust operators more with the ability to replenish their personal account from the balance of a crypto wallet, proving that online casinos are developing in accordance with current market trends.

Reasons for the development and popularisation of gambling

  • Emergence of new regions available for work

Many online marketers contemplating trying their hand at online casino promotion have been intimidated by the amount of upfront costs to enter the vertical. Those regions where promotion is considered the most profitable are distinguished by high rates and, as a result, great competition. The legalisation of casinos in individual countries has provoked the emergence of new countries available for promotion.

Gambling payouts are not tied to the local currency, allowing you to earn money anywhere in the world. Simultaneously, a wide selection of countries and detailed analytics from partner networks help you master new regions and contribute to successful work with them.

Contrary to the common misconception that the probability of winning in online slots is extremely small, licensed online casinos are distinguished by a high level of RTP – “return to the player”.

The RTP determines how many bets a player will need in order to return the initial budget in case of a long game. If the RTP is 100%, it means that the chances of winning are equal to the chances of losing funds. The average RTP of licensed online casinos fluctuates around 96% and drops below with rare exceptions.

In countries where online casinos are legalised or partially legalised, a licence is required to conduct gambling activities. It allows special commissions to control gambling activities and protect the rights of players on an international level. Licensed online casinos are mistakenly considered as representatives of the grey market. Like any business, they are interested in their players being satisfied with the quality of the services provided, and are therefore focused on cooperation in the long term.

With the advent of legal online casinos, the term “responsible gambling” has become established. The concept of responsible gambling for online casinos means providing access to gambling, including interaction with regulatory authorities in resolving conflict situations. For players, this guarantees the conscientious fulfilment of the obligations undertaken to protect their rights on the part of the operator. In the event of situations that violate the principles of responsible gambling, the online casino licence may be revoked.

  • Access to stock exchanges

Every company seeks to attract investors to help develop their business, and the most profitable scaling option is the issuance of shares for circulation on the stock exchange. In the future, trading in brand shares will allow companies to attract the attention of investors and funds for further development.

The IPO process is quite financially expensive. However, with a successful placement of shares, organisations are attracting large sums that contribute to their rapid development in the market. Many casinos have successfully put into circulation the shares of their companies and are continuing to develop. The IPO once again emphasises the legal side of the gambling direction.

  • Growing interest in a merger from large corporations

This market development is also proven by the number of M&A transactions in the gambling segment.

At the beginning of 2022, experts said that, as interest rates rise and European economies deteriorate, M&A in the gambling industry would slow down. Today, however, we can see a continuous growth in the activity of these transactions.

The EY Global Consulting report of the first half of 2022 speaks about the sustainability of the global mergers and acquisitions market. Although peak transaction activity fell by 27%, compared to the same period in 2021, it still grew by 35% over the previous 2015-2019 cycle. As of September 2022, more than 2,274 transactions totaling about $2.02 trillion were concluded in the world. At the same time, the technology sector dominated by almost a third.

In early 2022, one of the world’s leading gaming companies, 888 Holdings, which includes brands such as 888, SI Sportsbook, and Mr Green, announced the closing of a deal to acquire William Hill’s non-US assets from Caesars Entertainment in the amount of €2.25 billion, an amount which is not considered a limit. In the middle of the year, the American company, Scientific Games (renamed Light & Wonder) completed the sale of its lottery business to Brookfield Business Partners for a whopping €5.7 billion. Such amounts indicate the scale of the direction, as well as the openness and legal side of doing business

Reasons for the development of gambling as a trend in online marketing

Another trend in the online casino market in 2022 was an increase in the average bet size. The increase in rates began during the pandemic, when the gambling industry experienced a sharp jump in popularity among players.

Despite the fact that the Coronavirus has disappeared from the media field, an increase in the average bet size is still observed today. The average remuneration has increased in direct proportion to the growth of rates. Given the fact that, when working with the gambling vertical, earnings directly depend on the amount of deposits of attracted users, this had a positive effect on the direction as a whole.

  • Development of mobile traffic

The development of mobile traffic has been occurring over the past decade. While the lion’s share of the market previously fell on PC users, and browser games confidently occupied the tops, today, more and more players are using mobile applications. There are now many applications for gadgets on the market that allow you to play wherever and whenever it suits you.

In 2020, about 55% of users used mobile devices to play games. Compared to previous years, the impact of mobile traffic on gambling is much stronger. There are new ways to promote applications and measure user behaviour to retain it.

  • Implementation of blockchain technologies

The introduction of cryptocurrency as an additional payment method has had a positive impact on increasing the level of attention to the industry from those who store funds in digital currency. The replenishment procedure is not subject to commission for withdrawal and replenishment of funds to the balance of the wallet, and also simplifies the process itself.

Many gamblers who kept their currency in crypto, or played in digital currency markets in addition to slots, now easily replenish their accounts at popular online casinos, which increases the overall amount of traffic. For affiliate marketing representatives, this is an additional trigger that can be used when building a promotion strategy.

Conclusion

The gambling industry continues to evolve. New GEOs, slots, promotion approaches, and even payment methods appear regularly. In addition, more and more countries are reviewing their gambling policies.

Today, gambling continues to occupy top positions among the areas of online marketing available for promotion. Contrary to the established opinion about the taboo of gambling, more and more countries are reviewing their policies and gradually introducing changes to the legislation, allowing players to spend time playing their favourite games without any interference. At the same time, representatives of the digital spheres are also reconsidering their views on the gambling vertical.

As a growing company, DUXGroup is always open for comments and ideas, and, with the rapid development within this gaming niche, we are always looking to add new team members. If you’re interested, go ahead and check out our current vacancies on our website. We hope we will soon have you on board!

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