The world wide gambling market continues to rise and many countries are now realizing the economic benefits to opening up the gambling industry. Some of the newest additions to the mix: Thailand, which plans to legalize casinos by 2025 as a centerpiece of a broader push to promote tourism and draw foreign investment. The change signals not only a huge market opportunity, but creates the potential for entrepreneurs to exploit nascent trends to grow innovative solutions.
The strategic move of Thailand to participate in the global gambling market
Thailand’s decision to formalize a legal casino industry represents a tectonic shift in the dynamics of gambling across Asia. The Government’s proposed ‘entertainment complex’ bill is designed to move gaming into more comprehensive venues that focus on tourism and entertainment. Of these, only 5% to 10% will be allocated to casinos, the rest going to live entertainment, gourmet restaurants and retail shops.
At the heart of the initiative is Bangkok, where three sites are being considered that would take advantage of the city’s economic dynamism and its pull for tourists. Thailand’s gaming market could potentially bring in as much as $9.1 billion in annual gross gaming revenue, (Analysts). This would make Thailand the third largest gambling market in the world, after Macau and Las Vegas.
Besides that, Thailand’s schedule is tight. First approvals for legislation will only begin to take place in the middle of 2025, with the opening of the integrated resorts perhaps in late 2025. While being able to benefit from the Global Gambling Market, Thailand is looking to maintain it’s status as a top travel destination by working on establishing a balanced entertainment landscape.
By moving cautiously but quickly, Thailand could beat out rivals like Japan, where a casino in Osaka is not likely to open until 2030.
Taking Advantage of the Trends in the Worldwide Market for Gaming
The ever growing Global Gambling Market offers plenty of opportunities, for those looking to start their businesses in the world of online betting. But to be noticed, both originality and flexibility are essential. For online bookie agents who are not growing as fast as they would like, moving to a full service Pay Per Head (PPH) like VIP Pay Per Head can be a game changer.
For operators, PPH platforms provide the ability to streamline processes and provide a better user experience. Solutions that include line management, player performance, and data analysis that are designed to help operators generate more revenue more efficiently.
Second, entrepreneurs can take advantage of niche trends. Adding elements such as live betting possibilities or immersive gameplay can appeal to wider ranges of potential players. As Thailand shows, combining gaming with entertainment is popular and entices high-rollers as well as casual holiday makers looking for something different to do.
The Future of the World Gambling Market
The Global Gambling Market is Growing: As the Global Gambling Market is spreading on a global scale, there are many opportunities for innovators within this space. The bold stance taken by Thailand to legalize casinos would act as a guide for other jurisdictions that might be considering going down the same path.
It’s impossible for a startup to compete with a company that has over 20 years in the industry… if you don’t understand the industry, of course – entrepreneurs need (if they want to take off) to provide users with hyper personalized experiences – things Pay Per Head services like VIP do in a ridiculously impressive way. Through an ethos of innovation and an open-minded approach to technology, firms may drive success in that massive and swiftly changing market.
The gaming industry isn’t just getting by — it’s booming. Through taking advantage of growing markets and developing foresight, operators can set themselves up to succeed in the ever-changing Global Gambling Market.
