The Capital of the iGaming Industry
1 March 2023The iGaming industry has grown into a massive global enterprise worth billions of dollars, with one of its most intriguing aspects being the concept of the “iGaming capital.” These cities or regions are recognized as hubs for iGaming activity and are essential to the industry as they draw in tourists and generate enormous amounts of revenue for the local economy and casinos. This article will explore the world’s top iGaming centers and what sets them apart in this competitive industry, naming the iGaming capital and considering the criteria for its designation. Join us as we delve into the fascinating world of gambling and discover what makes these cities so alluring to so many people.
When it comes to identifying a city as an “iGaming capital,” there are several essential factors to consider. Here are some of the most critical criteria that determine whether a city or region qualifies as a hub for iGaming:
Number of Casinos: These cities are likely to have a high concentration of casinos that offer various gaming options. Since iGaming was permitted again in the state of Nevada on May 19, 1931, a lot of players were attracted to the area, leading to the opening of many casinos. When, at the same time, all the places where money was played began to be actively closed all over the USA. Las Vegas is now home to over 80 casinos, including some of the world’s most famous, such as the Bellagio, MGM Grand, and the Venetian. As the hub of the entertainment industry, Las Vegas attracts millions of people with its vibrant parties, luxurious hotels, and posh restaurants. The high concentration of casinos in one city makes Las Vegas the top city in this category, as even the well-known Macau, China, only has around 40 casinos, making it the “Las Vegas of Asia.”
Number of iGaming Events: A strong iGaming capital should have a regular schedule of tournaments, briefings, awards, conferences, and summits. Based on our research, the United States leads this category with 65 events planned for 2023, including 18 in Las Vegas. West Fargo is the second leading US city in terms of the number of iGaming events. The UK has 9 events scheduled, including the well-known ICE London. Malta follows with 6 events, while Macau, China, does not have any events planned. Once again, Las Vegas is in the lead, hosting several tournaments, conferences, and summits this year.
Size of the iGaming Industry: The revenue generated by casinos is key indicators of a successful iGaming capital. Here are some statistics on the revenue generated by four major iGaming cities:
- Nevada State, USA: In 2022, casinos in Nevada brought in a record-breaking $14.8 billion in gambling revenue, an increase of 10.5% from the previous year.
- Macau, China: Macau is a major iGaming destination, with over $5.3 billion in revenue in 2022. High rollers from China frequent Macau’s casinos, with the industry contributing over 80% of the city’s total revenue.
- Singapore: Despite being a relatively new player in the iGaming industry, Singapore generated over $4 billion in revenue in 2022. The city is home to two large casinos, Marina Bay Sands and Resorts World Sentosa, offering a range of gaming options and entertainment.
- Atlantic City, USA: Despite increased competition, Atlantic City still has a sizable iGaming industry, with an estimated revenue of nearly $2.8 billion in 2022.
Tourist Attractions: This includes the availability of hotels, restaurants, shopping, and entertainment venues, as well as other recreational activities like golf, beaches, or skiing. Why do we consider this an important aspect? Because the infrastructure attracts a lot of tourists, which means that people will visit the city, see a lot of entertainment venues and definitely go to the casino. However, for people who came to the city immediately for the gambling, they need to place somewhere, right? A well-developed infrastructure is essential for attracting tourists, which in turn draws people to the casinos. All cities with a thriving iGaming industry have excellent infrastructure. Cities like Monte Carlo, London, Macau, Las Vegas, Singapore, and Dubai are not just gambling destinations but are also popular tourist centers, bringing substantial income to their respective economies.
Regulatory Environment: The regulatory environment is a critical factor in identifying an iGaming capital. The local laws and regulations governing the iGaming industry, as well as the reputation of the city for fair and ethical business practices, must be considered. Nevada, the state where Las Vegas is located, is known for having relatively lenient iGaming regulations compared to other states and countries.
Which city or region can be considered the gambling capital?
The iGaming capital of the world is undoubtedly Las Vegas, USA. The city boasts the highest number of casinos, revenue, and tourist attractions, including hotels, restaurants, and bars. Additionally, Las Vegas hosts numerous iGaming tournaments annually, making it a prime destination for gamblers. It’s no surprise that the mention of the words “gambling” and “casino” usually evokes thoughts of Las Vegas.