"We have no doubt that the metaverse will change the online gambling sector forever"
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Fast OffShore’s founding partner Ron Mendelson is an expert consultant for the iGaming industry. He gives his assessment of the industry's recovery coming out of pandemic and how it boosted i gaming. Fast Offshore's expectations for 2022 are the main issues driving the agenda for upcoming year.
This year was a good one for the iGaming industry. People are more accustomed to a digital way of doing things. The metaverse will change the online gambling sector forever.
The global online gambling market is set to exceed $74 billion by the end of 2021. Malta fell onto the FATF grey-list and streamlined its application process. The Netherlands and Germany issued their first licenses and Ireland took steps towards creating new laws to regulate iGaming. APAC remained strong, particularly the Asian segment. Latin America is an untapped market. Technology became a focal point amongst clients in 2021, including blockchain systems in gambling. They fielded inquiries about it. It is also a topic of discussion for them. For example, they bought Bethard to expand into Spain and Swedish markets.
Fast OffShore expects 2022 to be even bigger and better than 2021. The metaverse (web 3.0) is something that has been on industry insiders’ minds for some time. Some companies are already working on integrating casino and betting into the metaversary. Regulation will focus on responsible gambling, fairness and compliance. The continued growth of eSports is also a hot topic. Fast Offshore has always pushed for compliance and non-compliance. They believe non compliance leads to over-regulation. Curacao is going to change the gambling sector. It will be interesting to hear the news coming out of Curaçao.
