Where is gaming looking to? Review of most demanded target markets
In the iGaming industry, you have to stay informed and always keep up with the latest trends. This knowledge helps you to be ahead of competitors, develop, and modernize your products. The industry is often considered one of the most dynamic, and the numerous changes it has undergone over the past 30 years confirm this. Popular Curacao license, issued for the first time in 1996, underwent significant reforms by 2024.
The interests of operators in different markets are also changing, as global events influence potential success in various countries. New licenses, stricter regulations for existing ones, fluctuations in payment solutions and banking services — all these factors play a significant role when choosing target market. Additionally, characteristics of population, their income, enthusiasm for betting or gaming, religious and other aspects can be decisive factors for a gaming startup. So, which markets should you consider?
Let's examine the most popular markets for gaming startups in 2025 and briefly outline the main reasons for that.
USA
Of course, we start with the main hub of gambling. The United States has remained the largest iGaming market and the number one country in terms of Gross Gaming Revenue (GGR) for several years. The market is regulated and well-established, requiring significant investments. Additionally, USA is known for its high level of bureaucracy and serious approach to legislation. However, this does not prevent large local companies from setting betting records and creatively competing with each other.
Entering the market is not an easy task for international operators and does not see much success for obvious reasons. However, USA has started to attract startups from another angle: adjacent industry of sweepstakes, which are essentially casinos based on the free-to-play principle. These projects provide equal opportunities for all participants to play and win, without necessarily making a deposit. This means that both those who make a deposit and those who use the free participation option have equal chances of winning. One might question the benefit of such an approach for operator, as it seems to involve significant risks. However, real life shows that sweepstakes are very interesting to players and also good investment, as they allow entry into the strictly regulated US market and try luck.
Nevertheless, bureaucracy and legislation remain relevant for this category of gaming projects as well. Launching and operating such a product requires serious legal support and investments. A positive aspect is the availability of quality payment solutions, but obtaining them requires a lengthy compliance procedure and properly formalizing your activities. Monoup can assist you with this. If you are interested in launching a sweepstakes project in the US, contact us for details.
India
The Indian market often can be found at iGaming media headlines — gambling-enthusiastic population attracts both international and local operators. Its potential cannot be denied. The foundation of Indian gambling is sports betting, which is directly related to the interests of locals. Major sport events support player engagement in betting and create a certain seasonal effect in Indian gambling. Experienced operators understand this and skillfully use it in their marketing campaigns.
Another significant feature of Indian market is the variety of payment options and high risk of fraud. India is a technologically advanced country, especially regarding fintech solutions and payments. The Unified Payment Interface (UPI) covers almost the entire country and connects even the most remote areas with commercial products. However, market is plagued by frequent attempts to defraud merchants during payments, so it is essential to invest in anti-fraud systems and closely monitor this area. This can be considered a nuance of doing business in the country and, unfortunately, must be taken into account when launching a casino. The risk of fraud is extremely high, and many users do not miss the opportunity to deceive gambling operators, even if they are trusted players.
The expensive local license and significant tax burden force many offshore operators to cover the market with permits issued in Curacao or Anjouan, but such websites are significantly inferior to local ones in terms of integration into sports life and outdoor banner advertising.
Since the market is quite hot, operating in India is becoming increasingly expensive, and given the higher risks of fraud, it is not always profitable. However, interest in the country has not waned, and it can be considered one of the top markets today.
Bangladesh
Next to India, another large Asian country worth considering is Bangladesh, which attracts operators due to its large gambling-enthusiastic population. Despite the low-income level, the region boasts a serious interest in online gambling, and operators can achieve good ROI due to the number of players. Sports betting is mainly popular among the local audience, including events of global or Asian scale.
P2P payment providers act as payment processors since direct payment institutions are practically non-available. Activity is strictly prohibited in the country, but this does not stop many offshore operators. At their own risk, new online casinos are being launched in Bangladesh, attempting to overcome government obstacles.
Bangladesh is also attractive to business because it is relatively not expensive to launch, and players cost significantly less than in neighboring India and, especially, Europe. The main reason Bangladesh has caught the attention of international iGaming operators is its large population with low-income levels.
Brazil
2023 was a life-changing year for Brazil, solidifying its position as a genuinely promising gambling market. A massive influx of startups into the country prompted government to take active measures to legalize the industry and introduce a local gambling license at the beginning of 2024. Today, Brazil has more than two million active players, and this number continues to grow.
The densely populated country with a high interest in sports and, consequently, sports betting, combined with an active social media industry and influencers, has created a vibrant and lucrative gaming market. However, Brazilian market is overheated, and launching a new project here can be extremely expensive and does not promise desired success. Over the years of offshore operations, many products have gained their loyal audience, and obtaining a local license now allows them to strengthen their positions. Nevertheless, within the local space, Brazil is one of the most promising, growing, and developing markets, setting a positive example for other countries. The government has attracted investments into the country and is effectively monetizing this activity through tax and licensing fees.
The successful adoption of popular payment method PIX has played a significant role in Brazil's success as an iGaming market. PIX allows for accepting payments 24/7 seamlessly and almost instantaneously. This further emphasizes the crucial role of payment systems and how significantly this aspect influences the possibilities of the entire industry.
Africa
The second half of 2024 marked the beginning of a new direction for iGaming — Africa. The region has long been missed not only by gaming industry but also by the global economy, with Europe always being the center of attention rather than African countries. The shift in focus has been influenced by economic advancement of African countries and technological progress. In recent years, this virtuous circle was broken by fintech. The payment industry's growth has sparked a keen interest from gambling operators in Africa, as stable payment acceptance is always a top priority when launching an iGaming startup.
Until recently, mobile payments were considered the most technologically advanced option in the region, with Kenyan mobile operator M-PESA being widely used. However, region has made significant strides, and while mobile payments are still in the DNA of Africans, other payment technologies are also gaining interest among users.
Africa is a wide range of countries with different mentalities, although there are some similarities. Average payment in the region is several times lower than in Europe, but operators are focusing on quantity and aiming to cover as many countries as possible.
In summary, we would like to note that all these markets have significant differences in business operations, audiences, and legal aspects. However, they all share something in common — a growing population, interest in gambling, and technological progress. Whether to choose one of these countries or not is up to you. The Monoup team is ready to help you obtain reliable payment solutions for different business types worldwide and support your launch from scratch.
