Online gambling sprouted from tentative digital experimentation during the 1990s to become a billion-dollar global industry.

Powered by technological innovations, it is now one of the most lucrative sectors on the planet and continues to break ground in new markets.

Read on as we chart the spread of iGaming and analyse the story behind its remarkable growth.

The UK Lays the Foundations for iGaming

The United Kingdom was one of the first countries to open its arms to iGaming.

When internet connectivity surged in the late 1990s and early 2000s, the UK recognised the potential of online casinos and sportsbooks. 

Companies such as bet365, William Hill and 888 Holdings laid the foundations for what has become one of the biggest online gambling markets globally.

The UK’s gambling regulations are a benchmark for other countries. The country has become a template for how the industry can thrive safely and profitably.

Many European neighbours caught on and set the wheels in motion to legalise iGaming. However, the UK remains the centre for the global online gambling industry.

The US Joins the Digital Evolution

The US was initially conservative towards online gambling, despite the popularity of land-based operations in Las Vegas and Atlantic City.

Online gambling in the US barely existed in the early 2000s. Offshore platforms served a small number of customers in an underregulated market.

Things began to change circa 2018 when the Supreme Court repealed the Professional and Amateur Sports Protection Act (PASPA). The ruling specifically addressed sports betting, but it opened the door for expansive gambling reforms.

New Jersey, Pennsylvania and Michigan quickly legalised online casino games alongside sports betting, generating millions via digital platforms without trampling on land-based operations.

Some experts believe America will overtake the UK as the largest online gaming market by gross revenue. The latter currently leads the way, but the growth in the US has been incredible.

There is every reason to believe those postulations, considering how the pandemic shifted behaviours in states like New Jersey, reinforcing a growing public acceptance of digital betting.

However, the US still has challenges to surmount. Several US states, including New York and Illinois, considered iGaming bills in 2024 but did not pass legislation. 

They have also faced opposition from land-based casinos and labour unions concerned about job losses and market cannibalisation, which has slowed the growth pace.

The iGaming Industry is Gradually Going Global

Inspired by the successes in other jurisdictions, many other nations are exploring the lucrative potential offered by the iGaming industry.

Several Middle East nations has surprisingly allowed iGaming operators to welcome Arab players onto their platforms, despite the traditional laws which prohibit such practices.

There are several real money online casinos in Kuwait which cater to Middle East citizens seeking the thrill of digital gambling. It is a similar story in other nations in the region.

Much of this growth dates back to the foundations laid by licensing pioneers Curacao. The Dutch-Caribbean-island started offering online gambling licenses in 1993. Many countries were unaware of online gambling at this point, let alone licensing, but Curacao was ahead of its time.

Their decentralised licensing model allowed companies to serve customers across the globe while staying outside the legal jurisdictions of more conservative countries.

Mobile technology has been a game-changer for online gambling. Everyone owns a smartphone these days, allowing iGaming to spread like wildfire. Players can access casino games, poker rooms and sports betting platforms on a 24/7/365 basis via their mobile phone.

Virtual reality (VR) has also played a crucial role. Microgaming launched the first VR casino games in 2016, helping to make online gambling a more immersive digital experience.

The next phase is market penetration. There has been steady growth in European countries such as Sweden, Malta and the Netherlands. Latin America and significant parts of Asia are also buzzing with opportunities, thanks to improved regulatory clarity and mobile penetration.

Online casino platforms have become the go-to alternative for people in markets where physical gambling spaces are banned or stigmatised.