(STL.News) You probably have a pretty good idea of just how vast a gambling industry is. There are thousands of online gambling parlors and there are also lots of resorts and hotels that have a casino. Nowadays, we have more and more casinos accepting crypto payments, which is another reason behind the growth of this industry.
However, gambling has always been a controversial topic of discussion and it’s a type of entertainment that is heavily regulated. Meaning, there are lots of regulations that get updated and casinos are forced to comply. As a result, there is always something happening, both good and bad, in the gaming world. Here we will go to some of the latest meaningful developments or gambling updates related to betting and casinos operators.
More Mergers in the Near Future
Right now the online gambling market is huge, but it seems that users are scattered across the sea of casino platforms. Because of various legislations and restrictions, it’s easier for some platforms to grow as they are the only option for a lot of gambling enthusiasts.
Goldman Sachs even gave a forecast that the online gambling market will grow to $40 billion by 2033, which means profit margins are incredible. It also means that iGaming is likely to outpace e-Commerce. This is why a lot of bigger companies are looking to acquire smaller players. Right now Scientific Games is trying to acquire 19 percent of SciPlay Corp, and they already partially own that company.
Single Customer View (SCV) in the UK
In order to prevent or suppress negligent and harmful spending of some casino players, the UK is likely to push for a single customer view in order to have a better overview of how policies are being implemented. This will allow for a more detailed profiling of the regulated institutions. In other words, some of the best UK casino sites will become safer. Moreover, the way they promote casino games and bonuses for players might be under closer scrutiny in order to ensure that nor problematic gamblers are being targeted.
iGaming Advertising Code in the Netherlands Got a Lot of Criticism
Consumentenbond, which is a watchdog entity for consumers in the Netherlands, has stated that the Dutch advertising code for iGaming is very flawed. Apparently, the code fails to specify the tone and the limit of ads that will be used to promote online gambling and at the same time protect vulnerable players. The way things currently stand it seems that the code fails to offer sufficient protection, and as a result, the television ads won’t be aired. The way things stand it seems that this code needs to undergo heavy revisions before it can be put forward for discussion again.
Casinos and Sports Betting in Georgia
Georgia is among the few US states that did not legalize casinos and sports betting operators. This might change in early 2022, as the state might be ready for a casino bill. The reason why things might change is that sports betting has been incredibly prolific throughout the other states, and we are seeing that more countries are loosening their restrictions on online gambling as well.
The pandemic definitely left its mark on the economy and taxing online gambling business might be one of the keys to recovery, and getting additional jobs. Of course, it will be up to people to decide whether they want to gamble or not, which is a democratic and clean way to spearhead this change.
Sports Betting Market in the Us Will Continue to Grow
There are speculations that over the next few years the US sports betting market will grow up to 300%. The speculation is based on the available data pertaining to the states that recently legalized sports betting and they have already passed the $1 billion dollar milestone.
However, it would appear that more parties are profiting from this in addition to betting operators. Lots of TV networks have already brought in around $50 million simply by advertising these operators. Of course, there are also athletes who are often hired as brand ambassadors and affiliate marketers that promote the content online.
Casino Mask Mandate in Nevada
The Nevada Gaming Control Board reminds casinos that their staff and guests need to wear masks at all times. They noted that disciplinary action will follow if institutions are not adhering to these measures. This is just a reminder that the pandemic is still not over and that working institutions in the hospitality industry are responsible for enforcing protective measures.
In short, these were some of the more meaningful gambling updates that occurred over the past month or so. As we can see newly formed markets like the Netherlands are still struggling with the regulatory framework. It also seems that some of the states in the US are about to enter the market starting next year. We might also see a change in ownership for certain smaller providers or developers and some revisions in terms of gambling ads. All things considered, remember to be responsible while gambling and that your primary goal should be to have fun.
Bio: Paul Calderon is a talented writer who covers topics related to gaming and the iGaming industry. He strives to stay up to date with all of the latest news pertaining to casinos, gambling laws, eSports, and betting. In his free time, he loves to go mountain climbing, play League of Legends, or watch Netflix.