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As 2024 rolls on, the online casino industry continues to be a hot topic. With technology advancing and tastes evolving, launching an online casino is tempting – but it can be scary. Is it a smart move? Let’s explore the key aspects to consider.
Current State of the Online Casino Market
The online gambling market is booming. The iGaming industry is worth an estimated $86 billion globally ($1.62 billion in Africa). And it is growing fast thanks to technology, making gaming more accessible than ever.
However, this growth also means increased competition. Big names dominate the market, and smaller brands compete for the rest. Is there still room for new online casinos today? This is a question every prospective entrepreneur has to ask.
Laws and Regulations
One of the first hurdles in launching an online casino is navigating the complex world of gambling regulations. Different countries have different laws, so understanding and complying with them is crucial. Some countries have no regulations, while others have incomplete gambling laws. This makes the legal landscape more difficult to navigate. Obtaining the necessary licenses can be a lengthy and costly process. However, it is essential for operating legally and gaining players’ trust.
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