Is the gaming industry a new economic phenomenon?

Published:Nov 17, 202312:33
Is the gaming industry a new economic phenomenon?

Gambling has been around for thousands of years. But over the past five years, there has been a high demand for online casino services. It is due to accessibility for a person of any socioeconomic class, intensive development of mobile applications, and a constant influx of new players. As a result, we can see excellent growth rates in the gaming industry, especially in the online sector, and this is already leading to significant changes in the global economy!

Financial results and reasons for the growth of online casino economic indicators

The field of gambling is growing very dynamically, as evidenced by economic indicators. According to research firm H2 Gambling Capital, global iGaming revenue will be about $100 billion in the coming years. To estimate the growth rate, take 2018 as a starting point when this financial figure was about $50 billion. It's impressive. But why is this happening?

1. New gambling markets with clear legal regulations are constantly emerging. As more and more countries realize the potential of the gambling industry for their national economies, the geography of business-relevant jurisdictions is continually expanding. It allows operators to occupy a niche among the leaders and do business without risk.

2. High profitability of the industry generates a flow of potential investors willing to invest in innovative projects and technologies. Therefore, it is easy to find financial support for implementing business ideas in online gambling.

3. The amount of potential audience is inexhaustible. Just imagine how many people on the planet become adults every day. We do not forget about responsible gaming principles, but the existence of demand in this area is indisputable!

Economic development thanks to gaming, which is present in RajBet online casino

On the one hand, the gambling business is the organization and conduct of games, and on the other hand, it is the provision of services to all market participants. As in any business environment, gambling companies operate in two verticals:

• B2C (Business-to-Consumer) sector includes operators, ie owners of gambling projects that provide their services to players. Gambling projects are of different types. For example, online casinos, live casinos, online sports betting, etc.

• B2B (Business-to-Business) area aims to provide business services; it has more participants than the B2C sector and helps develop the world economy.

Development of other industries through online gambling

If business develops, so does the global economy. Here are some of the industries that are growing through the large online casino sector:

  • IT and software vendors
  • creators of gaming content for online casinos
  • banks and payment solution providers
  • consulting companies that provide an independent assessment of online casino activities, such as RajBet and other popular gambling resources.
  • organizers of industry events, where participants get to know each other and establish business contacts
  • the tax segment of countries, as all licensed casinos such as RajBet pay taxes to improve the lives of residents
  • jurisprudence, because without legal services, no organization can exist
  • marketing and advertising that cover the work of online casinos
  • charity, as many companies direct part of their earnings to the development of social projects and even create their own
  • sports, sponsored by online casinos

The gaming industry is a new economic phenomenon

It can be concluded that the heyday of the online gambling industry has already changed the world economic paradigm in many ways but has not yet revealed its full potential. Figures and statistics from reputable sources indicate that this growth will continue for some time. Experts conclude that the impact of this segment on the global economy is positive.

The world can expect further increases in jobs, taxable income, business development in various industries, and, as a result, a decrease in unemployment in certain areas.

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