Gambling Vertical: Peculiarities, Challenges,
and Prospects
Online gambling is one of the most prospering and fastest-growing verticals nowadays, but what are the pitfalls of working in this industry?
Controversial yet particularly profitable, gambling is one of those verticals that are rapidly growing nowadays. At the same time, working in the stake gambling niche is pretty risky and involves certain challenges, which causes some entrepreneurs to stay away from it. So, what exactly is gambling, what are the peculiarities of this vertical, and which challenges do you have to be ready for to work in this niche? These are the questions we will answer in this article.
What Is Gambling?
Just like the name suggests, the gambling vertical includes various types of online casinos as well as sports gambling. It is actually an enormous industry that has stable and large profits due to people’s desire to take risks and get easy money. Of course, the niche is pretty controversial due to the gambling addiction that many users of such sites have. At the same time, gambling is legal (in certain countries), and it is a way to earn decent money.
Challenges of Working in the Online Gambling Niche
Online gambling sites are a business, and just like in any business, there are certain challenges in working in this vertical. In particular, managing an online casino is rather difficult due to constant money flow and large amounts of transactions that overload your merchants. Luckily, this problem can be easily solved if you have payment orchestration services from Germius. At the same time, the most significant problem when it comes to the gambling industry is not competitors or organizing issues. In fact, it is the legality of CSGO gambling sites in the country(ies) you want your website to operate. Fortunately, there are some countries where gambling apps and sites are legal. So, you can safely operate gambling services in the following countries:
- The United Kingdom
- Malta
- The United States (about 50% of states, including Nevada, Pennsylvania, New Jersey, and Delaware)
- Canada (regulations vary by province)
- Mexico
- Brazil
- Japan
- South Korea
- Australia
- New Zealand
- Others
Please note that gambling regulations in all these countries are different and, in most countries, vary depending on the province or state. Additionally, some countries, like Australia, Japan, or Brazil, block local gambling operators while allowing foreign sites to operate freely. Thirty-two countries, including Monaco, Canada, and Norway, require local operators to get a license and allow foreign companies to work without one. Finally, countries like Austria, France, Denmark, the UK, Finland, the Netherlands, and others allow all gambling sites to operate only under a local gambling license. Therefore, before launching a gambling site in any country, make sure to get acquainted with local gambling regulations and better arrange this task for your lawyers.
Gambling Stats and Prosperity Predictions
Nothing speaks better than the numbers, so let’s take a brief look at some gambling stats:
- In the United States, slots and table games generated $44.19 billion in revenues in 2022
- Europe's gambling market revenue reached €108,5 billion gross gaming revenue in 2022
- In Australia, the gambling industry contributed about 420 million AUD to the economy in 2022
- The GGR of the betting market in Latin America is predicted to nearly triple between 2020 and 2025, peaking at over three billion U.S. dollars
As a matter of fact, the gambling industry is one of the few verticals that shows steady, stable, and sure growth over the years. Just take a look at the chart below.
Not surprisingly, the gambling industry is prospering and growing all around the globe. As the statistics show, the revenue of gambling companies on all continents is pretty decent, as well as is expected to grow. Moreover, most experts believe that the gambling industry is one of the fastest-growing and promising ones in the market, which makes it worth investing in. So, we can conclude that launching a gambling site will most certainly pay off.
Germius for Gambling Sites
As you might have already guessed, payment gateways, plugins, and other services are crucial for gambling websites. At the same time, finding the service that has it all is particularly challenging, and a lot of business owners have to cooperate with several companies to get all the payment features for their platform, which is pretty stressful. Luckily, Germius can help you avoid these problems.
We offer a full spectrum of payment orchestration solutions, including payment gateways, recurring payments, fraud prevention, and more for all kinds of businesses. Selecting Germius, you choose high-profile payment orchestration services for your best online gambling sites.
Wrapping Up
The online gambling industry is one of the most profitable verticals in the market today, which makes it worth investing in. Thus, if you have always thought of launching a gambling site but didn't dare to actually do that, it’s time to act, and Germius will help you with that.