In recent years, the term ‘iGaming’ has become increasingly common. This industry encompasses all forms of online gambling, including casino games, sports betting, and virtual sports betting. Thanks to rapid technological advancements, iGaming has transformed from a marginal activity into a lucrative global industry regulated by strict frameworks. The spread of iGaming has significantly impacted national economies worldwide. Here are the primary ways this has occurred:
1. Revenue through Taxation: Governments benefit directly from taxing iGaming activities, which are easily tracked due to their digital nature. Malta is an excellent example, with many online casinos headquartered there, benefiting from favorable tax regimes and generating millions annually in taxes.
2. Job Creation Across Various Sectors: The global job market has not remained unaffected by the growth of iGaming, creating thousands of new jobs in marketing, IT (especially programming and cybersecurity), customer service, finance, responsible gaming specialists, and data protection.
3. Development of New Technologies: iGaming is pioneering in adopting technologies like AI, VR, mobile apps, and blockchain. These technologies often find applications beyond iGaming, enhancing user experiences across industries.
4. Boosting Tourism: Players sometimes visit the headquarters of popular online gaming providers, indirectly promoting countries. Themed casino games also introduce players to cultures and destinations, encouraging visits.
5. Growth of Digital Economy: Enhanced iGaming strengthens the broader digital economy by encouraging users to adopt new platforms and applications, leading to investments in infrastructure and innovative data solutions.
6. Indirect Economic Support for Other Professions: Industries providing tech infrastructure, cybersecurity, and specialized digital marketing services have seen significant growth due to iGaming’s expansion.
Countries that successfully integrate iGaming sustainably are expected to reap substantial benefits in the coming years.