Countries all over the world are expanding their online gambling markets, but there are a number of these that stand out from the crowd. Of course, this list may change over time, as emerging markets become big players, but for now, it’s clear that some countries are going to be a cut above the rest in 2024. These are the ones that have recognised the growing importance of online gaming platforms and know that people no longer want to travel to their nearest casino to gamble.
The UK
According to data from H2 Gambling Capital, the United Kingdom is the country with the largest online gambling market in the world, with a reported GGR (gross gaming revenue) of US$12.48 billion. Many forms of digital betting are legal in the UK, from bingo to the lottery to casinos. Gambling culture has always been popular and diverse, up to the point where gambling websites are just as popular as retail sportsbooks or land-based casinos (source: insidebitcoins.com/bitcoin-casinos/best-bitcoin-casinos-uk).
Although some may assume that much of the revenue comes from the capital city and its surrounding areas, many areas in Scotland and Ireland, such as Edinburgh or Belfast, are also hotspots for online gambling.
The USA
It may not come as a surprise that the United States has made the list. The USA is made up of 50 individual states, each of which is free to make its own rules surrounding online gambling. Some states have strict regulations on the activity, whereas others fully embrace innovations in the industry.
The regions that have fully legalised online casinos include New Jersey, Delaware, West Virginia, Connecticut, Michigan, and Pennsylvania. Thanks to these states, and others such as Nevada which have permitted online poker, the US has reported staggeringly high GGRs in recent years. For example, the GGR in July 2023 was US$5.39 billion, which is in large part down to sports betting and online casinos. In total, iGaming revenue in the States has reached US$481.5 million, which is a revenue increase of 23% year-on-year. Similarly, sports betting saw an increase of 28% year-on-year. It’s clear that online gambling is here to stay in the USA.
Australia
In 2021, Australia had the third-largest online gambling market, coming in at a gross gaming revenue of US$6.55 billion. Such a high figure is interesting because Australia arguably has tight restrictions on online wagering. The Interactive Gambling Act of 2001 is the key piece of legislation governing the practice and has outlawed services such as online casinos, unlicensed sports betting operators, and in-play sports betting. The rules on advertising and promoting gambling services are also strict.
Despite this, Australians partake in legal forms of online wagering, sports betting, and lotteries, and use offshore sites. This is, in part, due to the long-standing popular history of gambling in the country.
Canada
Legislation surrounding online gambling is tricky to navigate in Canada, but that hasn’t stopped its population from generating a GGR of US$2.55 billion. Technically, slot machines and casinos are not legal, land-based or otherwise, as per The Federal Criminal Code. However, individual provinces in Canada are free to regulate and manage gambling in their designated region as they see fit. This means that online gaming operators can run their business legally, as long as it complies with a province’s specific laws.
Germany
Online gambling in Germany has been legal since July 2021 thanks to The German Interstate Treaty on Gambling. There are three distinct categories of gambling in Germany: sports betting and sportsbooks, casino games, and lottery games. Each of these is diverse in itself and is regulated individually, has its own legislation, and requires operators’ licenses. The GGR for Germany as of 2021 was US$3.65 million, which is no small feat considering the number of rules for both providers and players and licensing requirements.
Italy
The laws relating to online gambling in Italy make it easy to understand why it has such an impressive market. An amendment to the 2007 Finance Act, made in 2011, completely legalised sports betting, real-money online poker, and casinos, as long as they were managed and licensed by the Autonomous Administration of the State Monopolies (AAMS). Non-AAMS online gambling providers are still entitled to operate in Italy but do not provide the same security or protection to consumers.
Gambling culture is alive and kicking in Italy thanks to these rules; in fact, the country has one of the most open and progressive attitudes to the activity in Europe. Each year, approximately 80 billion euros are generated for the economy due to both online and retail gambling operators.
France
Online gambling was first introduced in France in May 2010, in a law that is commonly referred to as the French Gambling Act. It created three licenses for three different types of gambling: online horse racing, online sports betting, and online poker games. Each of the above was to be regulated by the French Gambling Authority (ARJEL). There were no laws about the legality of online casinos, but movements have been made in the past year to begin this process. Since 2010, the French online gambling market has boomed, as can be seen in their GGR from 2021, which reached US$3.83 billion.
Final Thoughts
Although these seven countries are by no means the only ones with a passion for gambling, they are home to some of the biggest online markets in the world. Each of them has legalised some form of the practice and created regulatory bodies to ensure safe and responsible betting. In the future, we’ll be sure to see new regions added to this list, as online casinos and sportsbooks continue to rise in popularity.
