GPWA Times Magazine - Issue 48 - December 2020

FORECASTING 2021 Ron Mendelson is the Director of Fast Offshore, an International Business & Corporate Services consultancy firm with a multidisciplinary, cross-border approach. He has been guiding online gambling operators for over 22 years with iGaming Licensing and Payments, Regulatory Compliance, Tax-Efficient Corporate Structuring as well as Cryptocurrency and Blockchain related services. With a portfolio of clients spanning continents and multiple sectors, Fast Offshore offers a professional, fast and reliable service that places a focus on transparency and cost-efficiency. Whether you’re an entrepreneur, a startup or an established business, Fast Offshore can help you achieve your business goals, optimize and fine-tune your corporate structure. platforms and apps. We can also expect to see the emergence of biometric payment providers and smart speaker payments where players use iris scanning, fingerprints, or their voice to authorize payments and deposits. Last but not least, cryptocurrency casinos and payments are likely to become more common in online gambling. As crypto is becoming more widely adopted and trusted by users, sites will respond by offering it as a payment and withdrawal method. Benefits include faster and more cost-efficient transactions as well as increased security. THE LAST WORD All in all, we anticipate that online gambling will continue to grow over the next 12 months. Through the adoption of emerging and innovative technology and a willingness to adapt, online gambling companies should find themselves flourishing during these otherwise uncertain times. We expect to see a steady in- crease in the number of gambling company incorporation and licensing requests. If you are considering entering the online gambling market, this is a great time. Esports will continue to be a segment of continual growth as younger individuals get interested both in esports and in esports betting. Esports tournaments will receive growing attention on mainstream media and will be sponsored by big-name brands. As a result, the stakes for each match will increase in terms of value. This will drive forward the competitiveness of the market, gaining interest from previously untapped demographics. We can expect to see more applications by esports betting companies and more existing platforms incorporating sports betting into their portfolio of products. Europe will continue to be a leading market in the online gam- bling sector. Various states are adding online gambling legislation to national laws, as well as allowing foreign companies to offer products to their citizens. Increased legislation in favor of online gambling will also lead to more consumer confidence in online betting and gambling platforms. The “freemium” model of online gambling is also gaining traction and is expected to continue in this vein in the future. In addition, the use of micropayments facilitated over the blockchain could also be introduced as a new model of playing gambling games such as table games and slots. In terms of payments, eWallet and mobile wallet integration are also becoming more popular. Providing users with a safe and secure way to pay digitally, these wallets can be integrated into The “freemium” model of online gambling is gaining traction and is expected to continue in this vein in the future . In addition, the use of micropayments facilitated over the blockchain could also be introduced as a new model of playing gambling games , such as table games and slots . G P W A t i m e s . o r g 34