The iGaming industry was already one of the world’s largest and fastest-growing entertainment sectors before COVID-19. Following the pandemic, it continued to grow even more rapidly. The Australasia region has been experiencing growth similar to that of other regions. Year-over-year growth in Australia and New Zealand has been over 15 percent.
There are many reasons for this growth: The widespread use of mobile devices has made it easier than ever for people to access games; advances in technology have made playing games more engaging and immersive; social media has made it easier for people to share their gaming experiences with others, and there are now more ways than ever before for developers to make money off their games.
The region follows the example of Canada and the United Kingdom, where tax breaks have helped grow the digital games industry. With the current Australian government offering tax incentives of a minimum of 40%, Australia will become an attractive location for foreign game developers.
iGaming is expanding rapidly over the Australasia region
The Australia online casino market is also growing rapidly and is attracting a wide variety of players from around the globe. Likewise, New Zealand’s industry is experiencing tremendous growth in areas that might seem improbable at first glance.
If you are a serious gamer, you might find it surprising that some of the world’s most popular video games are created by developers based in New Zealand. But few people realize this, as most of us don’t associate New Zealand with gaming. For instance, Path of Exile, created by New Zealand developer Grinding Bear, is one game series produced by a New Zealand company; another is Bloons, by Auckland-based Ninja Kiwi.
The concept of Internet gaming, or iGaming, has brought together two longtimefavorites—the love of gambling and sport—into one elegant experience for Australasian patrons.
As we have seen, iGaming is growing fast, but eSport is developing even more quickly. In Australasia, which has a strong sporting culture and typically operates at a level that puts more populous nations to shame, video games are increasingly being recognized as a competitive sport, with the region becoming one of the main world leaders within this market in the process.
The industry will be critical to the future of Australasia
iGaming development will be critical to Australasia’s digital and creative future. Creating digital games requires using all types of media, including animation, sound, music, and cinematography. The iGaming industry also contributes to the economy in several other ways, including its ability to add complexity and talent to the workforce.
Finally, according to industry insiders, the Australasian iGaming industry may be worth more than $5 billion by 2025, who predict its growth will continue at an exponential rate.
There are plenty of reasons why gaming in Australasia will be worth watching in the future. The region is a sports-mad market with a great appreciation for gaming and gambling. Recent investments are expected to make it one of the next big iGaming markets in the coming years.