Publication date: 30 Dec 2022
The end of 2022 has been a rather busy year for the gambling market, despite the anticipation of the holidays. In countries where gambling is legalized, the authorities are counting record profits. Bookmaker casinos are also happy with their profits after the 2022 FIFA World Cup. 3S.INFO has compiled all the latest information on the important events in the betting and gambling market for December 2022.
In Europe, online gambling revenues reached €38.2 billion in 2022. In doing so, more than 111.5 billion bets worth €202.9 billion were placed. Sweden (80%), Latvia (75%), Lithuania (67%), Romania and the UK (65% each) have the highest share of online gambling.
- Gambling is one of the largest industries in many countries. In December 2022, InsiderMonkey ranked the 15 countries that have become the top players in the global gambling industry for the year.
In Sweden, gross gambling revenue for the year increased by 7% due to online gambling. Meanwhile, the third quarter’s cumulative revenues amounted to approximately €616 million. Online gambling income increased by 10.5% compared to the same period in 2021.
Sweden is currently considering a bill to block unlicensed operators. If the document, introduced on 20 December, is approved, the new rules will come into force from 1 July 2023.
Belgium is tightening the rules on gambling advertising. From 1 July 2023, almost all forms of advertising will be banned. The exception will be for sports clubs and sports sponsorship advertising, although this will also be abolished from 2025. In addition, the minimum age for players will also be raised to 21 in the summer. Read more, Ноw to promote online-betting and gambling in Belgium.
The UK has chosen the best sports betting app. In a study by Eilers & Krejcik Gaming (EKG), Bet365 topped the list in the “interface”, “UX” and “features” categories. Second and third place went to Paddy Power and Sky Bet (Flutter Entertainment).
In India, several key moments happened in December 2022 at once:
- Google banned all advertising of gambling and betting companies in India. Although it was formally forbidden before, a reminder of this has once again appeared in official documents.
- A campaign to raise awareness about cryptocurrencies and online gambling will soon be launched in the country. An Investor Education and Protection Fund will be established to start informing the Indian residents about the illegality of cryptocurrencies in India and about the financial risks that are associated with them.
- The Indian Revenue Service is requesting data on Indian customers of offshore online gambling operators. It is now virtually impossible to trace the country’s inhabitants who play at offshore online casinos. Moreover, many cross-border services in India are taxable, yet there was no way for local authorities to get a hold of them. According to tax officials, from April 2019 to November 2022, local online gambling operators owe about $2.77 billion to the tax authorities.
The fate of Brazil’s gambling law is being decided. Elections have passed but former president Jair Bolsonaro has still not signed the law to regulate sports betting. As the deadline for signing the document expired on 12 December, he could face charges of breach of duty.
In the United States, October was the second (after March with a profit of $5.35 billion) most profitable month for the iGaming industry in the US, with operators earning $453.1 million. That’s a 26.8% increase over October 2021. All told, for 2022, iGaming revenue in the USA is expected to be at a record high of $4bn. That’s an increase of 38.1% over the same period last year!
The United States is setting its own records. In New York State, for example, gambling revenues have risen for the third consecutive month. Another record was set in November: online sports betting in New York City brought in $148 million. At the same time, consumer spending is also on the rise: players have spent a total of $1.55 billion in a month.
At the same time, Americans waste about $511 billion a year on illegal gambling. The illegal gambling market in the USA is estimated to be $44.2 billion, according to a report by the American Gaming Association. However, 52% of online casino players prefer legal sites, 30% prefer only illegal sites, and 18% prefer both legal and illegal sites.
