How innovations are shaping the UAE gambling industry
Technology has brought many developments and innovations that have tremendously benefited various industries, particularly gambling. An example would be internet technology playing an instrumental role in creating online casinos.
These online gambling platforms have quickly become the go-to place for betting enthusiasts in recent years, providing unrivaled convenience and accessibility compared to more conventional physical establishments.
The technology used has impacted the laws of certain countries, as it now makes possible stronger security features to protect residents better. Such advances are one of the reasons North American locations have come to accept this industry; perhaps UAE or even Middle East locations will do the same in future years.
The gaming industry is thriving in the Middle East
Gaming has always been a top activity for many, and the industry is clearly enjoying a moment of growth in the Middle East. Significant amounts of investment have gone into the industry in recent years, with more than $3 billion in 2022 – just a fraction of the $38 billion that has been committed over numerous years.
There has been recognition of the change in the habits of the population, with the younger generation of the region’s population being game-focused. According to findings, around 70% of the total population of Saudi Arabia is below the age of 30, and many are turning to gaming as it allows them to stay indoors and escape from the hot temperatures that can be experienced across the region. Furthermore, the Middle East is experiencing a faster growth rate in terms of game streaming compared to China, thus making the industry more attractive.
Could this change gaming attitude across the region
The Middle East is not the easiest of regions for the iGaming industry to break into. There are still several countries that have kept the activity banned, including the UAE. Nonetheless, this has not stopped many from searching for things like the best online casino for UAE players.
With so many innovations being experienced across the industry and with the potential financial returns that could be generated, there are questions about the industry’s legal status and whether a similar approach to those in North America may be adopted. Admittedly, if it were simply about money, it would be unlikely, given the known wealth of the area.
The mobile gaming market may force online gambling to be considered.
However, with the mobile gaming market being the biggest driver for the region’s gaming industry, there is every possibility that iGaming does become a possibility. According to findings, the market is expected to achieve a compound annual growth rate (CAGR) of 15.7% between 2021 and 2026, with this sector of gaming expected to fetch a revenue of more than $3,9 billion.
With mobile gaming among the most popular method of play, with downloads reaching a total of 4.9 billion in 2021, and the main gaming population being under 35, there may have to be some changes in the future to help shape the UAE and Middle East gaming industries in future years to come.
The article How innovations are shaping the UAE gambling industry first appeared in TravelDailyNews International.