Record-breaking is etched into Dubai’s landscape. It broke the record for the world’s tallest skyscraper with the Burj Khalifa. It has the world’s largest waterpark on The Palm. And even the world’s only 7-star hotel with the Burj Al Arab.
Now it’s time for Dubai to put its stamp on the lottery industry. And with the UAE’s establishment of the General Commercial Gaming Regulatory Authority (GCGRA), this has become a real possibility.
The authority was established to oversee the regulation of the UAE’s industry, building its regulatory framework. It is a big, positive step for the emirate that opens up new opportunities for entrepreneurship and growth. And it demonstrates its unfaltering commitment to a booming and diverse business environment.
So, how would a thriving gaming scene benefit Dubai?
Gaming: Boosting tourism and economic growth
The economic incentives are clear – with tourism being the most obvious perk. Tourism currently contributes 9 percent to the UAE’s GDP – and Dubai is the self-professed cruise hub of the region, bringing in 1,750 cruise ships every year. A flourishing gaming industry would attract yet more visitors from overseas, and buying a lottery ticket could become a “must-do” for every tourist.
But the industry can supercharge the wider nation. As Bloomberg reported, if the UAE followed the footsteps of Singapore and based 1.6 percent of its GDP on gaming, it could generate $6.6 billion of revenue annually.
And that’s beside the fact it would give Dubai the opportunity to be a world leader in yet another industry. Dubai is a hub of tech talent and cutting-edge research – its thriving tech ecosystem and, of course, its burgeoning gaming sector could be used to create innovative, world-first gaming and lottery products that would draw international attention.
Clearly, there are many positives to come out of the creation of the GCGRA. But there is one issue for me: most of the conversation so far has been focused on the potential for the launch of a casino industry.
The prospect of a casino industry is exciting, but I believe lotteries will have a much greater impact. With 57 percent of the USA’s population – about 181 million people – buying at least one lottery ticket a year, and 70 percent of adults in the UK taking part in the national lottery on a regular basis, it’s clear that the lottery has a mass-market appeal.
The audience for casinos – whether online or otherwise – is quite specialist. You have to have an interest in and knowledge of the games. Lotteries, on the other hand, are a proven mass-market form of entertainment.
The regular and consistent running of lottery draws is the perfect opportunity for family and friends to come together and play. I myself grew up entering lotteries on a weekly basis with my family as a fun form of family entertainment, asking, “What will we do if we win?” Anyone can enter and enjoy a lottery.
Positioning Dubai as the global lottery leader
Dubai should be looking to build lottery products that match its energy and character. Lotteries that push boundaries with jackpots far bigger and better than anywhere else. Lotteries that will go on every tourist’s itinerary alongside visiting the Burj Khalifa and shopping in The Dubai Mall.
As a newcomer to the scene, Dubai can build the first truly digital-first lottery industry. It can host the world’s largest jackpots that are transferred instantly to winners, with no confirmation or added steps to ruin the experience. And it can combine this with the most secure and safe technology.
Dubai is perfectly positioned to build the best lottery market in the world. It’s ambitious and innovation-driven, so it has the appetite for it. And it’s well-known for completing projects on a mega-scale at speed and is full of hungry entrepreneurs rearing to build new things, so it has the drive to do it.
It’s also full of aspirational residents and tourists looking for something bigger and better – the perfect market for these products. If a record-breaking jackpot is going to happen anywhere, it’s here, in the city that never does anything in halves.
Now that it has been established, The GCGRA’s priority should be to establish a regulatory framework that’s modern, fit-for-purpose, and flexible. We need the regulatory platform to support a thriving and safe gaming industry – particularly for lotteries.
The UAE – like with all its other projects – needs to take the lottery sector and blow all previous efforts out of the water. That is why I am seeking to establish the world’s first $1 billion net payout jackpot in Dubai – and add another impressive title to the city’s reputation.
Follow us on
