Despite being a form of gambling that’s adored by punters around the world, restrictions on online gambling vary wildly. While some countries welcome online casinos with open arms, many ban all forms of online gambling. Over 50% of the world’s population is restricted from accessing online gambling in their home countries. This conservative approach is puzzling, since many countries with harsh stances on online gambling allow land-based casinos. Thanks to aggressive lobbying from major corporations with vested interests, many of the world’s leading countries ban online casinos.
Even though there’s plenty of opposition, the online gambling industry continues to thrive. Around 93 countries don’t prohibit online casinos, which is enough to allow this taboo industry to flourish. Thanks to a few strategically placed havens, online casino operators are able to outmaneuver laws that attempt to ban them. Today the online gambling market is worth $51.96 billion, and is expected to reach $60 billion by 2020. This staggering amount of revenue is motivating even more online casinos to be established around the world.
Out of the countries that do allow online casinos, a few stand out as havens for establishing new sites. Thanks to lax regulations and low tax rates, these countries have become meccas for online casino operators. While their loose restrictions on online gambling is occasionally alarming, their clients are fueling the entire industry. Without these strategic havens, the online gambling industry as we know it wouldn’t exist. For this reason, examining these countries is essential. To showcase this key part of the industry, we compiled a list of countries with the loosest restrictions. The amount of casinos operating within their borders is staggering, so prepare to be shocked while reading this article!
Most Popular Countries For Online Casino Operators
Country #3: Monaco – Gambling saved this country from financial ruin in the mid-1800’s, so it’s no surprise that it’s a gambling mecca today. Shrouded in luxury and ironic legislation, the allure of Monaco can’t be ignored. It has been romanticized so much in movies that their rebellious approach to gambling isn’t shocking. While Monaco’s citizens aren’t allowed to gamble in their decadent casinos, international visitors are. Foreign nationals account for 80% of the country’s 36,000 population and flood their four iconic land-based casinos.
Even though their aristocratic-themed casinos have stolen the international spotlight, they aren’t the driving force behind Monaco’s gambling industry. While most of the focus is on luxurious land-based casinos, the real money is in online gambling. This is due to the fact that they don’t have any laws addressing online games. Citizens that are banned from entering land-based casinos can freely indulge in online games. This lax approach has led to countless online casinos setting up shop in Monaco. As the demand continues to grow, so will the amount of online casinos operating in Monaco.
Country #2: Isle of Man – For a country with one of the most established regulatory commissions in the world, they have a surprisingly progressive attitude towards online gambling. Their Gambling Supervision Commission was founded in 1962, and has allowed online casinos to operate since 2001. Being at the forefront of the online gaming revolution has its perks, since most UK-based casinos operate here. Thanks to a zero tax rate for online gambling, this financial sector has rapidly transformed into an online gaming haven. Many of the most respected online casinos operate here, which seals their strategic position in the industry.
Country #1: Malta – When browsing online casinos, this country is impossible to miss. Europe accounts for around 48% of the online gambling market, and Malta is intent on getting their cut. By providing low tax rates and notoriously lax regulations, Malta attracts online casino operators from around the world. So far they have awarded 500 online gaming licenses that cover online sports betting, poker, web-based casinos & other games. Its close proximity allows companies to use Malta-based servers to operate online casinos throughout Europe.
Despite being accused of lax supervision; the Malta Gaming Authority is the most powerful online gambling regulator in the world. They are the leading voice in the industry, since they control most of the major online casinos throughout Europe. Allowing hundreds of major online casinos to operate within their borders has created a multi-billion-dollar bonanza. Fueled by this staggering amount of cash, Malta will continue to lead the industry.