One of the best business opportunities out there in 2024 is getting into the online casino industry. Over recent years the market has been growing at breakneck speeds, with technology, internet access and the impacts of the pandemic all driving people towards online casinos. Combine this with a growing relaxation of government gambling restrictions, and it’s the perfect space to turn a profit. We highlight three reasons why online casinos are a great business to get into in 2024.
A Growing Industry With No End in Sight
As mentioned, the online gambling industry is booming. Right now, the market is worth just under $3 billion per year. However, that figure is projected to almost triple in the next five years, with forecasts putting the global online gambling market at $133.9 billion in the year 2028.
Stepping into an industry that is growing is always better than entering a stagnant or shrinking market and then having to jostle for a slice of the pie. What’s even better, is that one of the big drivers of growth in the online casino industry is a shift in attitudes towards gambling. In 2024, more and more demographics are finding it acceptable to engage in gambling, whereas that was not the case in the past. As a result, for new businesses entering the online casino industry, it’s never been easier to carve out a niche and make a lucrative business.
Increased Range of Payment Options
Another aspect of the online casino industry that makes it an attractive industry to invest in, is the shift in payment options over the past few years. Up until recently, payments were still required to be done by bank transfer or card. Now, most major online casinos will offer upwards of 50 different payment options.
What this does, is it allows for flexibility in your business model. Online gamblers are used to paying in all sorts of ways. If you desire to set up an online casino that only deals in crypto, there’s a niche for that. Many online casinos offer bonuses as well for those customers that sign up and deposit, as a way of rewarding these types of transactions. To get an idea of how this is working in the industry currently, you can view all bonuses at India Casinos that are being offered right now and even try them out at a limited cost.
Improvements in Licencing and Regulation
Once upon a time, zero licensing or regulation was required to get into the online casino space. This then swung the other way, with it becoming difficult to enter the market. Now, however, there are several good options for getting registered quickly and easily, with plenty of offshore approaches as well.
Getting an offshore gambling licence allows your business to optimise tax often, as well as making the licensing process more seamless and fast. Given the growth of the industry, and the rise of remote work, finding a setup that suits your potential business is quite easy.
