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Prospects of global gambling: the main trends of 2023

The global entertainment industry demonstrates stable growth despite the pandemic, the Russian-Ukrainian war, tensions between China and Taiwan. Gambling as a part of this industry repeats this trend, but the trends of its development differ from regional market to regional market. However, there are certain common issues for the entire gambling market, which are also relevant for Ukrainian gambling.

First of all, I will focus on them, because the revival of the legal gambling market continues, and the war, although it significantly affects the possibilities of its development, should not become an obstacle to bringing domestic gambling closer to world practices.

We can single out several global trends of 2023. According to the forecasts of world-class experts, they can determine the prospects for the development of the gambling market.

1. Expanding the geography of the legalization of the gambling business at the global level. In particular, there are high hopes in the US that sports betting will be legalized in such large states as Texas, Florida and California. In China, new gaming areas may appear in addition to Macau. In Latin America (Peru, Brazil, Argentina, Chile), the liberalization of legislation on the organization of gambling is expected. New gaming zones in Central Africa can be added to the existing ones in South Africa.

2. Restrictions caused by the actions of the governments of various countries due to the pandemic, primarily in the Asian and European regions, led to the rapid growth of the online gambling segment and a decrease in tourist flows. It led to a certain stagnation of the offline segment worldwide. In 2023, these restrictions should be reduced, so we should expect a revival in the land-based segment in all jurisdictions.

3. Public opinion polls, consultations with experts and public discussions of legislative changes are gradually becoming the basis for the formation of state regulatory policy regarding gambling in the world. Experts from the USA, Great Britain, Latin America, etc., emphasize the importance of dialogue. Ukraine should pay attention to this trend, especially considering the domestic practice of preparing amendments and additions to legislative acts and government resolutions.

4. Development of the cutting-edge technologies and crypto-currencies is the object of close attention by representatives of the gambling industry and by legislators and national regulators. Regulating the use of innovative products in the gambling market is an urgent issue that is jointly resolved by representatives of the gambling industry and national regulators.

As for regional peculiarities, we should highlight the following:

- Possible entry of global IT giants into the gambling industry, which is expected in the United States.

- Uncertain prospects for the markets of the Asia-Pacific region due to a decrease in the flow of tourists from China.

- Publication of a "white paper", which can change the policy regarding the regulatory activities of the state in Great Britain to a more transparent and liberal one.

- Introduction of an active approach to responsible gaming and player protection, as well as strengthening fraud prevention regulations in gambling legislation in Latin American countries.

- Expected expansion of broadband access in Africa, which is the single most important infrastructure for digital commerce in general and for online gambling in particular.

As you can see from the above, 2023 promises to be full of changes for the gambling industry. For Ukraine, it is important to move together with the entire civilized gambling market in the same direction, so as not to be left on the side-lines.


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