THE FUTURE IS NOW! How Online Gaming Regulation is Expected to Change in 2020

2020 will be a year to forget for many businesses and for valid reasons. It forced companies everywhere to close down. And that led to millions of dollars in losses. Lots of people lost their jobs too while governments have had to dig deep into their coffers to rescue economies. Despite all these problems, 2020 also revealed one crucial thing: the future of the world lies online. From shopping and gaming companies to Netflix and Zoom, Internet-based businesses were never disrupted by COVID-19. The companies have been providing tax income and jobs like COVID-19 never happened. And for that reason, more nations are investing in online businesses. The latest target is the gaming industry for these reasons.

It’s a $102.97 Billion Industry
The online gaming industry is worth $102.97 billion according to financial experts. To provide some context, that’s worth more than Hollywood ($40B) and the music industry ($10B)
combined. In the US, the online gaming sector is valued at over $20 billion while it’s worth at least $10 billion in Britain. So, it’s no surprising that every country and region now wants to tap into the billions of dollars casinos generate. Why was no one targeting iGaming businesses before COVID-19 hit? In all fairness, remote gaming legalization has been a trending topic for a while. But it took a global lockdown for many governments to discover the amount of revenue they’re losing by not legalizing it.

Growing Public Demand

The demand for online sportsbooks and casinos peaked in May, just over a month after the world went on a lockdown. People wanted a place to kill time, have fun and make some money. And online gaming sites provided all these solutions. In the US, it’s not just the public showing an interest in legalizing online casinos, though. From legislators and activists to investors and celebrities, there’s a growing embrace for online gaming. And for that reason, there was pressure on states to permit online gaming. In Africa and Asia, there’s also an increasing demand for governments to legalize online casinos. But most of them are reluctant to do so. That’s why there’s an also an uptick of gaming websites that accept players from a wide range of countries.

Alternatives to UKGC Casinos

Besides a growing demand for online gaming, there’s also an upsurge of new gaming websites and apps. It’s a basic business law, anyway: when there’s a demand for a service, people will want to meet it by increasing supply. Fortunately, new online casinos aren’t mere copycats of established businesses. Instead, they are equally good or better alternatives to UKGC casinos. Wait a moment…aren’t UKGC casinos the best gaming sites in the world? It depends on what you’re after. If you’re looking for real baller casinos not on Gamstop, then UKGC operators are not your best bets. Instead, you’ll find a better gaming experience using a site located in Malta, Curacao or Costa Rica. With that in mind, it’s always essential to vet casinos intensively before you create an account. Look at their game providers. And the check out their bonuses and payment methods. Only join a gaming site after you’re confident about its services.

It Employs Millions of People

As we mentioned earlier, 2020 cost millions of people their jobs. And concerned government authorities have been keen to find new ways of getting their citizens work. Naturally, legislators want to increase job opportunities and the online casino industry has proved it can create these jobs. In the US, legal online casinos and sportsbooks could add up to one million jobs to the economy. That’s ten times more than what the British remote gaming sector provides. It’s still more than what many countries worldwide can generate.
As such, legalizing online gaming is a massive job creation for the US. Of course, America isn’t alone in creating jobs for its citizens. Nearly every country in the world was affected by COVID-19, meaning businesses were closed and jobs lost. That said, the most common jobs in the online gaming sector are those of dealers, customer support agents, managers, website developers, designers and marketers.

Increased Safety and Security Standards

With Internet-based gaming increasing in popularity, the regulatory framework focused more on increasing safety and security. Regulators asked for more privacy to customers and more transparency. As a result, your personal and financial data is treated with more privacy than ever before. As mentioned, gaming operators are expected to be more open about their licensing details, contacts and gaming providers. The benefits are that players will have more information about a company before they become customers. You no longer have to spend money at casino blindly. Instead, you can ask all the questions you have before you fund your account or claim a bonus.

Improved Protection for Vulnerable Players

Another reasons many governments are welcoming online gaming legislation is that they can protect vulnerable players. And that means the biggest worry people have always had about online casinos is now taken care of. The UK protects vulnerable players by requiring casinos to only accept adults above 18 years. That way, children don’t have to be exposed to gaming content. It also mandates operators to steer their market efforts away from children and addicted players. Additionally, the gambling regulator in Britain works alongside several non-profit organizations. Some of these companies educate players on how to avoid gaming harm. Others help them recover from addiction. On the flip side, there are tools and services like Gamstop players can use to protect themselves. Gamstop lets people self-exclude from online casinos. Some of its alternatives allow you to set budgets and cool-off periods while playing.

Conclusion

Online gaming was one of the best performing industries in 2020. That’s not just because it has a service in great demand. It’s also because COVID-19 wrecked many businesses and forced them to lay off employees, close branches and lose money. To help stimulate the economy, many governments have been easing regulatory restrictions related to remote gaming for the reasons mentioned above.

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Posted: at 29-09-2020 01:11 PM (3 years ago) | Addicted Hero

I thought that during the pandemic gambling games and platforms earned a lot of money. You know everyone was staying home and what another thing we can do instead of playing casino lol. Of course, there were people who lost money but this happened without a pandemic too. For me this time was really productive, I found this https://biggame.solutions/bitcoin-casino-software platform. I like it 'cause they take care of the exchange and I can be sure that I'll never lose too much of I have no headaches thinking about what currency I need for playing. So stay home and earn money hehe.

Posted: at 23-10-2020 01:49 PM (3 years ago) | Newbie