Newbie To iGaming? Here is What You Need to Know

Regulated sports betting is sweeping across the US as more states sign bills into law legalizing betting. Casino games customers wagering on mobile devices are increasing daily. New sportsbooks are being launched at a faster pace than ever.

iGaming has provided more convenience to bettors. This has made iGaming popular in the US in a span of a few years. Although it is still new, a lot of people are still wondering what this new phenomenon in the US is all about.

What is iGaming all about?

When you think about iGaming, think about online gambling. It is the term used for any type of betting done via the internet. A lot of people associate iGaming with online casinos and poker rooms. However, the term is also used to cover all sorts of online betting, such as sports betting, fantasy sports, and esports.

Under iGaming is a large number of businesses like gaming platform vendors, casino apps, game creators, and affiliates. The long-form for iGaming is internet gaming. It is a market that is gaining popularity around the world very fast.

iGaming is international

The iGaming phenomenon is not only experienced in the US but the entire world. To surprise you, the US and Canada established iGaming markets only recently. iGaming rules are different in every country. The laws depend on the legislation provided in the specific country.

For example, iGaming in the US started in 2018. To date, not every state has legalized it. In the UK, casinos have been legal since 1960. They are now under the revised laws of 2005. In every country, iGaming stocks are valued differently depending on their popularity and the governing laws. iGaming is available in other countries like Australia, Germany, Spain, and Mexico.

iGaming is a large industry

iGaming is a large and fast-growing industry. Each year, the industry’s worth is about $67 billion. It is expected to grow to $93 billion by the end of 2023. The industry has a very strong online community that promotes social networking.

The community is useful, especially to newbies. They can get ideas on betting when getting into the industry. Because its business is purely online, the stakeholders have invested in its online payment security and iGaming platforms for the security of its customers.

The future of iGaming

The sector is developing fast in terms of technology. The newest technologies and those in the pipeline are Web3, NFTs, cryptocurrency, AR, VR, and AI. The future looks bright for the industry. It might soon become a multi-trillion industry.