MARKET WATCH
Market Watch
As operators continue to grow their presence in key jurisdictions, Ayvar Gabidullin, business development manager at Slotegrator, highlights which markets present the greatest opportunities.
2023 SO FAR
This year had two main stories: the explosive growth of the LatAm market and a return to pre-pandemic revenue levels in Asia. These two markets may be very different from each other, but they will both continue to draw plenty of attention through the end of 2023. As for Europe, the situation is more stable, but legislation is changing in some countries — as can be expected in an industry as dynamic as iGaming.
LATIN AMERICA
Latin America is hot on everyone’s radar for its massive growth potential. What can operators expect when entering LatAm markets?
When entering Latin American markets, it’s important to be aware of any changes in regulation and what the local players’ game preferences are. For smooth and successful operation, it’s important to comply with all local regulations and satisfy people’s appetites. In Latin America (especially top countries like Brazil, Uruguay, Mexico, Peru, Colombia), it’s important to comply with gaming standards because sport and everything that goes with it has tremendous cultural importance.
The second essential point is to provide players with great opportunities to enjoy games without interruptions. To do that, you need absolutely top-of-the-line software. So, Slotegrator can help to do it with its turnkey online casino solution that has been updated for successful operation in the Latin American market with features especially needed in the region.
UK
The UK is another iGaming hub. How will the recent regulatory changes in the latest Gambling Act Review white paper affect operators going forward?
Firstly, it’s the right step to set the rules for responsible gaming. The UK always has its own rules. It’s understandable because it is the world’s largest online gambling market. It’s obvious that the latest Gambling Act Review, like a rule book, will establish how to do gambling business in this jurisdiction. Secondly, these changes will help combat illegal gambling and create a gambling safe space for all audiences. Tax receipts for the UK in 2022-2023 are $3.3 billion, meaning there are 3.3 billion reasons for authorities to keep gambling crime-free — something that’s widely understood in the UK, where adhering to rules is a cultural value of the highest order.
WESTERN EUROPE
And what about the rest of Western Europe? How important are the smaller gambling jurisdictions?
Western Europe is a land of strict regulations and high taxes. This region alone accounts for almost half of the world’s online gambling market. Over the last few decades, Western Europe has become the epicentre of iGaming. Our experts have identified several countries that deserve to be on operators’ radars.
They include Portugal, which has high tax rates for local operators but fully regulated land-based and online gambling markets; Italy, which has one of the world’s most thorough regulatory frameworks; Malta, the world’s most renowned gambling jurisdiction and the first European Union member state to adopt a set of online gambling regulations; and Spain, one of the biggest markets in Europe, with its €7.6 billion combined GGR. It’s always possible that other markets might follow the UK’s lead; the UKGC is often seen as a trendsetter for gambling regulations. Whether they do so or instead follow their own path, they will undoubtedly remain valuable markets in the future.
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