Which Countries Have the Biggest iGaming Industries?

Europe is still the home of many of the most influential iGaming markets. A number of the strongest non-UK platforms, shortlisted here, are licensed in Malta, Gibraltar, or other European jurisdictions, showing how the region continues to dominate the sector. The Malta Gaming Authority built a framework that became a gold standard.

Operators licensed there can serve players across the EU, and the country now hosts hundreds of brands and suppliers. Malta’s role is bigger than it looks on a map: it is where many live dealer studios, platform providers, and payments firms base their operations.

Gibraltar is similar in scale and purpose. Despite its small size, it remains home to some of the world’s biggest online betting and casino companies. The territory’s low-tax regime, English-speaking workforce, and strong regulatory history make it attractive. The mix of compliance and flexibility is a powerful draw for global brands.

Sweden deserves special mention. Since regulating in 2019, the country has implemented strict limits on deposits and bonuses. Yet Swedish players remain highly engaged, and the digital infrastructure supports steady revenues. Nordic brands have also expanded abroad, carrying influence well beyond national borders.

Southern Europe is another powerhouse. Italy was among the first to regulate online poker and casino games. Spain quickly followed, building its own licensing system. Both countries have large domestic audiences and attract international operators eager to compete in mature, tax-driven markets.

Notable European Markets:

• Malta: Hub for licensing, suppliers, and back-end services

• Gibraltar: Base for global betting and casino giants

• Sweden: Strict rules, but high engagement and Nordic influence

• Italy and Spain: Large southern markets with steady revenue streams

Together, Europe remains the anchor of iGaming. Its players spend heavily, its regulators set trends, and its companies export expertise worldwide.

The United States and Canada dominate the conversation. The US changed dramatically after 2018, when the Supreme Court allowed states to legalise sports betting and online casinos. New Jersey proved the concept by launching regulated online play that attracted both local and international operators. Pennsylvania, Michigan, and Connecticut soon joined, creating vibrant ecosystems of their own.

The US is still a patchwork. Some states remain closed, but the ones that have opened show huge numbers. New Jersey alone generates revenues similar to a mid-sized European country. Partnerships with sports leagues, casinos, and media companies ensure fast customer acquisition, while casino products keep lifetime value high. Another point often overlooked is the influence of gaming culture itself. The impact of realism and attention to detail in crime games produced by US studios has shaped expectations around immersion, carrying over into online betting and casino design.

Canada takes a provincial approach. Ontario is the standout, launching a regulated market in 2022 that became one of the fastest-growing anywhere in North America. Within a year, more than 70 operators had secured licences. Canadians outside Ontario continue to use international platforms, making the country one of the most diverse player bases in the world.

Leading North American Regions:

• United States: State-by-state rollout, with New Jersey and Pennsylvania leading

• Canada: Ontario’s rapid growth alongside ongoing offshore play

North America’s importance comes from sheer size. Even limited rollouts already rank among the world’s largest iGaming markets.

Latin America is a region in transition. Brazil, with its 200-million-plus population and football-driven betting culture, is preparing to regulate nationally. When it does, analysts expect it to become one of the biggest markets globally. The demand already exists, and once rules are in place, operators will move quickly to meet it.

Colombia has a head start. Its licensing system is established and has produced steady growth for years. Mexico also offers a mix of local and international operators, supported by a large urban population and strong mobile penetration. What unites the region is the dominance of smartphones. For many Latin American players, the phone is the only access point, which shapes the way operators design and market their products.

Latin America At A Glance

• Brazil: Enormous potential once national rules are finalised

• Colombia: Mature licensing with consistent growth

• Mexico: Significant urban market with mobile at the centre

Latin America is not yet as large as Europe or North America, but its growth trajectory suggests it could soon rival them.

Asia is harder to summarise because the region covers so many different regulatory environments. The Philippines has emerged as a licensing hub, especially for operators serving players outside the country. Its offshore licensing programme has turned Manila into a centre for online casinos aimed at international markets.

Japan is cautiously moving toward regulation. Legal reforms have already opened land-based integrated resorts, and online betting is slowly following. The player demand is clear, but policy is deliberate and slow. Elsewhere in Asia, large populations play on offshore or unregulated platforms. That makes official revenue numbers misleadingly small compared to actual activity. Another trend shaping the region is the way in-game purchases and Ethereum-based microtransactions in esports have normalised digital spending. That shift in player behaviour is influencing how online casinos across Asia test tokens and new transaction models.

The region’s importance lies in scale. Even modest regulatory changes in countries like India could shift the balance of the global market. For now, the Philippines and Japan are the standout examples of regulated progress, but the untapped potential across Asia is still massive.