The global online gaming industry is growing at a pace that even seasoned analysts find astonishing.
Its rise is fueled by a mix of innovative technologies, ever-new player incentives – such as: B. daily free spins without a deposit and increasingly intensive games that appeal to a broad and international audience. Let’s look at some numbers for this incredible growth and how it’s impacting economies everywhere.
The value of the online gambling market is now estimated by reliable sources at $93 billion in 2024, with forecasts of $172.8 billion by 2033. And Europe is firmly at the forefront of this growth. This advantage is based on digital maturity and decades of structured regulation. But perhaps the most telling number is that 72% of all iGaming revenue in 2023-2024 came from mobile devices. The expansion is likely to spread to other countries, with South Asia already recording good numbers.
The UK iGaming Economy
In the UK, iGaming has become an important part of the national economy. In addition to being a source of entertainment, it also contributes to public finances, job creation and poverty alleviation. Figures from Jackpot Bet Online show that the UK remote gaming sector generated gross gambling yield (GGY) of £6.9 billion in 2023-2024 – evidence of both strong consumer engagement and the stability of a well-regulated market.
But beyond revenue, it is the employment footprint that often goes unnoticed. The UK’s wider games industry – from console games to mobile apps to digital entertainment – provides thousands of highly skilled jobs across the country. In the iGaming space in particular, roles in compliance, technical engineering, marketing and customer support continue to expand, extending well beyond London into fast-growing regional technology hubs. There will be no slowdown or standstill in this industry in the foreseeable future.
Wider global benefits
As previously mentioned, it’s not just the UK or Europe that has been affected by the iGaming industry’s exponential success. Elsewhere in the world, the sector is sometimes even funded by the government: after all, it comes with a steady flow of tax revenue and labor. Additionally, iGaming platforms need workers and other partner companies. Server factories, hosting providers, cybersecurity companies. These advances don’t just benefit gaming; They stimulate the entire digital economy.
The multiplier effects are equally important. Other industries can also benefit from the success of online gaming. Streamers and their younger generation of workers, but also AI and fintech companies, will harvest the technological innovations and make them their own, thereby stimulating the economic growth of entire countries or regions of the world. South Asia is, as I said, a pioneer, but many others are following suit.
What path lies ahead of us? Risks and responsibilities
Of course, iGaming success, like many other cultural and economic changes, comes with equal opportunities and risks. Regulators are facing an unprecedented situation. They must protect the personal and financial security of citizens while attracting new investors and continuing the growth of this industry. Too high taxation, for example, drives companies away. Something that has always happened, but brings new problems in the ever-changing digital landscape.
Technology is constantly advancing and that is both a blessing and a curse. Companies could use the extraordinary new tools to increase the creativity of developers and designers, or slow it down through the massive use of AI. Customers will have the ability to access services anywhere, anytime and from any device. But are they willing to take the necessary precautions and protect themselves from fraud and identity theft? As always, regulations will be key to a stable, innovative and secure future for everyone.
