Gambling Site Challenges
The gambling industry presents unique challenges for even the most experienced marketing and advertising firms. The primary reason for this two-fold. First, the industry reaches across the globe. Marketing firms that build brands and advertise for traditional casinos, must be educated on the presence of offshore casinos which are their primary competition. Second, the industry is growing at warp speed. This keeps law-markers busy adjusting and amending laws to protect their country while claiming their share of the market.
In a study conducted by Research and Marketing in January of 2019, it was reported that gambling is currently the fastest-growing industry. Specifically, virtual reality gaming is expected to reach a compound annual growth rate of 14.3%. In 2018, the global gambling market reached $449.3 billion and it is still rising.
For you to understand the debate that is front and centre in the gambling industry of Ireland, you must first understand how much gambling and specifically the lottery means to the people of Ireland. Gambling is legal in Ireland. This not only includes brick and mortar casinos, but also offshore gambling.
Ireland has very carefully drafted laws to allow its citizens legally wager on various types of platforms. The goal is to allow the citizens of Ireland to legally access gambling games across the board. This includes domestic and offshore platforms. With the growth of the industry and the staggering winnings, Ireland has fine-tuned their laws several times in the past decade.
While the government has no problem with gambling and even depends on the income it brings the country, the same cannot be said for offshore gambling. When a player wins lottery money and using the Irish National Lottery and they fail to claim it, the government puts that money to good use for programs to benefit the people. If the person played online and bet on the results of the lottery as they do at Lottoland, the unclaimed money remains with the offshore casino. Lottoland has programs in place to use funds to help the community, but they are not controlled by the government.
Ireland encourages casinos, internet gambling, and the sale of lottery tickets. They are actively holding their ground in the global gambling market. Ireland comes in with a respectable fourth place in the charts of gambling per person.
In an established industry, it is easy for an advertising company to determine a targeted strategy. However, there is an issue that is keeping things stirred up in the gambling field. We can sum up the issue one word, “lottery.”
The lottery is a huge moneymaker. The lottery is one of those games even non-gamblers will play. In Ireland, the lottery is called the Irish National Lottery. However, with the laws allowing licensed offshore casinos to allow customers to play almost any lottery in the world Irish players are opting to win big money.
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Lottoland provides customers with the same experience they would have to play the Irish National Lottery, Mega Millions, Powerball and any other lottery. The cards look the same. The numbers are chosen in the same manner. The difference is when you bet on the lotto at Lottoland, you are not betting on the lottery, you are betting on the results of the lottery. If the numbers you choose to hit, you get paid. Lottoland has all the licenses and approvals required by law. They also own their own insurance company, so all major winnings are guaranteed. It works and people love being able to bet on lotteries everywhere in the world if they want to. It is more exciting and it pays off big time.
The influx of American high-tech businesses
The “light-touch” laws that allow gambling establishments to flourish grabbed the attention of companies such as Google, Apple, Airbnb, Facebook, Adobe, Linkedin, and many others. Several companies have set-up their European Headquarters in Ireland.
Photo credit: Marily Torres
The corporate tax rate in Ireland is only 12.5%, which is the lowest in Europe. Dublin has earned the reputation of being friendly and welcoming. These are welcome attributes for mega-corporations. Not only do the companies enjoy lax laws and friendly people they also are shown latitude by the judicial system. These stable corporate giants give marketing companies and advertisers the firm foundation they need to balance the challenge of dealing with the gambling industry.
The welcoming of major corporations to Ireland has not been without bumps in the road. Apple is a good example. Using the lax laws and routing profits to other Irish subsidiaries allowed Apple to avoid paying billions of dollars in taxes. Apple quietly moved its European headquarters to Channel Island of Jersey, taking advantage of the benefits of offshore status.
Apple is only one of many multinational companies that are transferring their companies, trademarks, and patent rights to offshore ghost/shell companies to save tax dollars.
Ireland is the land of promise for marketing firms. Regulated industries have their challenges, but Ireland is growing in many directions and commerce can be balanced in the hands of a professional advertising company. Marketing companies are urged to look deeply at the laws and regulations of the land. With all things considered, Ireland is currently the land of promise for corporations, gambling locations, and big business. This means the sky's the limit for marketing firms who understand the complexity of the issues raised.