How Will the Online Casino Market Evolve in 2020?

Online gambling is very likely to continue expanding in 2020. Based on information published in Statista, the segment should reach $94.4 billion capitalization by 2024, and the year will be a stepping stone to that long-term goal.

While many see online gambling as an existential threat to casino hubs such as Macau, Las Vegas and Atlantic City, the industry will be worth only one fifth of the global casino market share by mid-decade.

According to statistics, the casino market should read $523 billion by 2023, which still puts the brick-and-mortar segment ahead of digital gaming. But how is the casino market going to evolve specifically in 2020? That depends on the country.

Casino Gambling in the United States

The United States is one of the countries best positioned to win big from the casino bonanza. After the Supreme Court struck down a federal ban prohibiting sports betting, known as PASPA, casinos have been hosting various sports betting activities online.

True, presently the U.S. only allows online gambling in several states, to name Delaware, new Jersey, and most recently Pennsylvania, but after the sports betting wave, casinos are next. The focus will be on online gaming as a yet untapped market.

Surely, tribal casino operators will also continue to develop, although they will face difficulties in places such as Oklahoma where Governor Kevin Stitt expects them to pay more tax.

Gambling in Europe – Liberal and Less Liberal Markets

Europe has been in a constant flux of change. The casino market has undergone some very strict re-regulation. UK and Spanish online casinos are facing tougher taxation laws, but this hasn’t stopped their expansion.

Despite a blanket ban on gambling advertisement in Italy, things have been looking up for the companies that continue to invest copiously in the market. Meanwhile, Portugal has pulled ahead with solid domestic market in Q3 2019.

A total of €54.1 million in total gross gaming revenue (GGR) was reached in 2019, with some 340,000 new domestic account registrations. This alone shows that Portugal is going to continue on a strong trajectory of development.

In the meantime, Nordic markets, including Denmark and Sweden are being tightly regulated, but this has not affected the overall performance criteria expected to stay good in 2020.

Canada and Other Markets

Canada seems to be one of the underestimated markets where some 76% of the population participates in forms of gambling activity. While domestic online casinos are a rarity, Canadians keep turning to offshore operators.

Established international brands are also targeting Canadian players. The government doesn’t seem to mind unlike Australia, where the Australian Communications and Media Authority (ACMA) has started suspending offshore operators, threatening their licenses.

Latin America is another promised land of untapped potential. Brazil is only just now opening up its sports betting market, which experts hope would lead to the arrival of online casinos. Buenos Aires in Argentina is testing sports betting as well, giving hope to operators that online casinos could be next.