The gambling industry is worth billions of dollars. Market value is steadily increasing year on year. So much so that by 2023, it will be worth over 93 billion dollars. In other words, over four times larger than what it was back in 2009 and double what it’s currently worth. And although many of the large gambling brands are well known worldwide, it’s often the case that the prominent people behind the brands are not. In fact, they often crave privacy.
5 Entrepreneurs who Made Millions from Online Gambling
Before launching their online platforms, many owners of online casinos previously owned chains of high street bookmakers, then capitalized on online gambling later on, in some cases, which took over their previous interests. Here are five entrepreneurs or companies who made it big after setting up their own online betting sites.
Caesars Interactive. Initially founded back in 2009 and named Caesars Entertainment initially, the group now operates six successful gambling sites, including the well-known 888 brand and the World Series of Poker (WSOP). It reports its most successful game as Slotomania, which has been incredibly popular on Facebook, Android, and iOS platforms. In 2020, its net worth is $4.94 billion.
Isai Scheinberg – PokerStars. PokerStars is the biggest online poker site in the world. Created by Isai Scheinberg, his original belief was that he could achieve great success if he provided a poker site with world-class software and top-notch support. To this day, the site still lives up to this concept and enjoys a local customer base. Scheinberg himself has a net worth of $4.8 billion.
Peter Coates – Bet365. Worth around £1.2 billion, Peter Coates has acquired wealth greater than Jamie Oliver, David Beckham, Elton John, and the Queen all rolled into one. At one point, he was at the top of the Sunday Times rich list, all thanks to his site, Bet365, which offers a winning combination of sports betting, online casino games, and poker.
Fred & Peter Done – Betfred. Starting out with a chain of high street bookmakers, these two brothers set up a website back in 2004 alongside its brick and mortar offering. It was a massive success. So much so that they now have a joint net worth of around £1 billion. Additionally, they also own over 1,350 betting shops all over the UK.
Mark Blandford – SportingBet. Mark Blandford is a highly respected and successful entrepreneur who played a central role in forming online gambling as an industry. He founded one of the earliest online betting sites, SportingBet, which was a huge success. Before this, he also successfully owned and ran a chain of bookmakers for over fifteen years. Discovering the internet’s potential during the mid-nineties, he sold the chain and launched his online venture in 1998, floating it on the stock exchange soon after. Today he’s no longer part of the company. However, his status as an early pioneer in online gambling will never be forgotten. Today, SportingBet is part of the William Hill group, which has a net worth of £27 million.
Capitalizing on Online Gambling has Made Big Bucks for Many Entrepreneurs
The popularity of online gambling has been a significant reason why there has been growth in the number of billionaires operating in this area. There is now so much competition within the industry, it’s hard to know which site to play at, online casinos in the US will offer all of the traditional casino games, such as roulette, blackjack and slots, the good news for gamblers is the competition has ensured the standard of games are at an all time high. If roulette is your choice of game we suggest reading this guide to playing online roulette by US state put together by betting community site OLBG.com.
One in five billionaires in online gaming or gambling is part of a wider family business. Some are so successful that they admit to moving to a different country to protect their wealth and build it even more. Despite Japan reporting having the most gaming or casino billionaires back in the 2000s, the US and South Korea now own this feat. Aside from the companies mentioned above, many more have experienced great success with online gambling, including Paddy Power, Unibet, Ladbrokes, and William Hill.
Online Casinos Remain a Worthwhile Industry for Budding Entrepreneurs
Since the 90s, there has always been a high demand for online gambling. Many entrepreneurs realized this lucrative industry and capitalized on it, making a lot of money in the process. Indeed, many who capitalized on online gambling were also running high street bookmakers, and some continue to do so, while others just focus on their online casinos. One of the most successful casino owners is Caesars Interactive, an amalgamation of several other successful online casinos, giving it a current net worth of an impressive $4.94 billion.