Professional video gaming has become a juggernaut of an entertainment niche in the last couple of decades. Although initial interest in online gambling in the early 2010s resulted in explosive growth, this interest has plateaued to a certain degree.
While it has plateaued at a high level and is now a firmly established multibillion-dollar market, it has allowed certain subdivisions within the industry to stabilise, and pioneers and entrepreneurs in the space have been able to identify areas where they can pursue profitable ideas.
Online gambling opportunities
Within the vastness of this industry, online gambling companies have been monitoring the market to explore where potential new markets can arise. It didn’t take long for the industry to peel off some of the top competitors and turn them into competitive betting markets.
The fact that many countries in the Middle East became a hotbed for esports meant that gambling companies were not far behind in looking to sponsor prominent teams and players. This opened up a whole new realm of possibilities, with gambling platforms forming affiliate marketing sponsorships with some of the top influencers and embedding themselves within this burgeoning new industry.
Professional video gaming, known as esports, is only one small element of the gambling world.
Online casinos still maintain the largest presence of any online gambling market. This was not something overlooked by gambling companies aiming to expand. Arab casinos online follow a similar format to the success of casinos that we’ve seen expand across Europe and North America over the past quarter of a century.
The experts use a whole range of factors to determine what they deem the highest rated casino. Despite the Arabian market being a much newer one on the global stage, there are factors that are still applied across the board, such as the range of payment methods, the size of a gaming library, and site security and licensing.
The power of a global industry
Unlike the older, fractional and localised markets that existed before the internet, the current global industry feels much more connected. While many of us may yearn for the nostalgia of 90s gaming and the classic console games that defined the era, it’s a market that has moved on. The majority of these changes have emerged due to the interconnectivity and global nature of online gaming.
From a regulatory perspective, there are still areas of the world where gambling is frowned upon. In the US, online casinos are outlawed in prominent states such as Texas and California, despite the efforts of lobbyists. Rising esports leagues have opened up the potential markets to a global audience.
Gone are the days of sports going through expensive, arduous legacy media contracts; esports have paved the way for streaming companies and influencers to become the main route for those looking to watch tournaments and games online. While the available prizes in esports have fluctuated between highs of $40m and historic lows just a couple of years later, there is no denying that it has transformed the fabric of international, professional esports.
Due to this international appeal, esports have been able to highlight to gambling companies that targeting broad, untapped markets can yield an even greater return than establishing themselves in markets that have been embedded within other cultures, such as the UK and Europe, for the best part of 60 years.
Leveraging the latest technology
As online gambling companies descend on markets, they don’t have a strong presence in yet, the market becomes saturated quickly. In a 24/7 international market, this can happen within the space of a few weeks.
As a result, savvy entrepreneurs and those who have big ideas to get involved in new, potentially lucrative markets in the Middle East look to the latest technological innovations to try to stand out.
Now, this can go one of two ways. We’ve seen the rise of cryptocurrency result in hundreds of gambling brands allowing their users to place bets with Bitcoin, Ethereum and other popular cryptocurrencies.
While Bitcoin has seen the price rise to historic new highs, new opportunities in online gambling are emerging as companies look to leverage VR gaming, and integrate AR and AI into their designs. Platforms may use AI simply for customer service or explore ways to use AI live dealers or innovative slot gaming designs.
While there are plenty of new opportunities out there, there also needs to be a market for them. They can be as innovative and engaging as possible, but if there’s no gambling market for them, then they will quickly fall by the wayside.
Final thoughts
Ultimately, several key factors are driving new opportunities in online gambling across the Middle East. Proposed changes in legislation, the rise of a truly global market, which is attracting innovators and gamers from all over the world, and countries throughout the Middle East, such as the UAE, are becoming global hubs for finance and technology. There’s also the rise of Saudi Arabia, which has played host to some of the most significant sporting events and esports tournaments since the beginning of this decade.
Any opportunities that arise in the Middle East are likely to be international as the world’s top esports leagues bring in the best teams from the US, China, Russia, South Korea, Australia and Europe.
As more countries in the Middle East warm to this idea and try to identify potentially profitable avenues, those that have the vision and conviction to capture these ideas and get ahead of the curve will reshape the online gambling market in the Middle East over the next couple of decades.
