Where Is It Legal For Online Gambling In 2022
Nevada was the first state to legalise gambling in 1931. Online gambling has taken the globe by storm. It brings in substantial amounts of revenue. Canada real money2022 ranked among the top government income earners. Not all countries have legalised online gambling. This editorial provides in-depth coverage of where it is legal for online betting in 2022.
Estimates indicate that over 75% of Canadians are involved in gambling. The majority of them engage in online gambling, but there are only 2% problematic gamblers. Online casinos were introduced in 1994. They were unpopular at the time due to poor graphics and low internet speeds. Today, the Canadian criminal code allows only licensed entities to run online casinos.
Europe has the lion’s share of 22.4% in the global gambling market. The European Commission oversaw all the online gambling undertakings among member countries until 2017. Now individual countries are responsible for enforcing the primary conditions expected of any online casino operating in EU. According to the European Gambling and Betting Association, revenue streams from online betting are expected to rise by approximately 20% to a tune of $99 billion.
The Asia-Pacific region is the second biggest online gambling market in the world. It is home to the gambling capital of the World, Macau. Thailand allows horseback racing, but all real money withdrawals are made in casinos. New Zealand passed the Gaming Act of 2003, allowing over 3 million gamblers to participate in all online gaming endeavours. Mainland China has banned online betting in totality.
North America has 7% share of the online betting market worldwide. In the US alone, the industry is valued at billions of dollars. Estimates indicate that the market will be worth over $100 billion in 2026. Online casinos are exploding in the USA. Some states still prohibit online gambling.
South America has a population of 420 million people and an internet penetration rate of 73%. Colombia has been the only country in Latin America to legislate online gambling since 2016. Brazil and Ecuador have barred their citizens from online wagering. Costa Rica allows players to operate within its borders, but they must follow the Costa Rican laws that ban their citizen from betting. Argentina, Uruguay, Paraguay and Peru are other countries where online betting is legal.
Most countries have put measures to ensure the online gambling industry thrives. Those who don't will miss out on the revenues generated by online betting.