Hello, community! Today, we’ll delve deeper into the gambling market. We want to touch not only on the current situation in the market but also model how it will behave in the future.

Also, at the beginning, we advise you to check out How to earn on gambling in Affiliate Marketing? The niche is not only profitable but also constantly growing. So, there’s enough profit for everyone.

Gambling in Ukraine – No Longer Shadowy

Relatively recently, specifically in 2020, online casinos and other forms of gambling, lotteries, etc., were legalized in Ukraine. The Gambling and Lottery Regulation Commission (GLRC), which was established in 2021, acts as the state regulator of the gambling market. It decides who can obtain a license for official operation within the Ukrainian market and who cannot. The GLRC is subordinate to the Ministry of Digital Transformation.

Did Legalization Solve All Problems?

The legalization of gambling in Ukraine was somewhat inevitable, as nearly all civilized countries in the world have gone through this process. And although Ukraine has made a huge leap forward in this aspect, surpassing even some European countries, it has not been without certain problems.

The main issue for many companies is resolving tax matters, as well as regulation and preventing the operation of the grey market.

Many Ukrainian operators express concerns about unfair taxation.

Sanctions Against Russian Casinos and Bookmakers

On March 11, 2023, a decision by the National Security and Defense Council (NSDC) to introduce sanctions against a large number of bookmakers, lottery organizers, casinos, etc., came into force. It is unclear why this happened in the second year of the war, but that’s not so important now.

Interestingly, the list of companies under sanctions included Ukrainian bookmakers as well, particularly Parimatch, although the list goes on. This is due to the companies’ attempts to straddle two chairs, which led to an unfortunate landing.

However, not all companies have been included in the sanctions list, at least for the moment. For example, Mostbet is still earning on Ukrainians, sponsoring rockets that fly to our homes daily.

Yet, it becomes increasingly difficult for Russian companies to operate in the Ukrainian market. And one of the main predictions for the next year is that there will be fewer Russians, not only on the battlefield but here too. And hopefully, not only there.

Growth in Demand for the Gambling Business After a Sharp Decline

At the beginning of the war, the gambling industry in Ukraine suffered just like any other business. Dmytro Diachenko, responsible for the operational direction at Cosmolot, noted in an interview that the number of payments decreased almost fivefold. Gradually, the situation stabilized and began to improve, leading to the assertion that some Ukrainians find gambling soothing, distracting their minds from the news by spinning slots.

Casinos also try to respond to the historical conditions they are in: charitable initiatives, various fundraisers, etc., are created. All this stimulates the market. After all, a person can not only play but also help the armed forces. Of course, as always happens with us, not everyone is satisfied with such charity. But that’s another story.

As for not only our market but the global one – it is constantly growing. Indeed, according to The Business Research Company, the size of the entertainment market may grow fourfold by 2032. Specifically, to nearly $850 billion in profit, but it is expected to reach $765 billion by 2027.

So, What Will We See in 2024?

As we can see, the development trends of the gambling market are quite optimistic: it is constantly growing, modernizing, and quickly adapting to all circumstances it finds itself in. There will be fewer Russians not only on the battlefield but also here. This frees up market space that needs to be filled. And this concerns us – affiliates.

The main risks for the market, which could negatively impact it, are potential data leaks and breaches of user confidential information. This could result from certain cyberattacks, leading to even stricter regulations by the world’s regulators.

But, if the current dynamics are maintained, gambling remains one of the most promising verticals to engage in. Already have experience working with the vertical? Then quickly share it in our Telegram community. There, you’ll find even more cases and useful information to increase your profit.

With respect, Your Geek!

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