Despite Saudi Arabia’s determination to explore different revenue streams, the government has remained resistant to sectors which do not fit their cultural beliefs.
They have made significant progress to meet the objectives of their ambitious Vision 2030 initiative without bowing to peer pressure by veering into the gambling sector.
That has not prevented thousands of Arab players from visiting Saudi Arabia online casinos run by foreign operators to play games such as roulette and blackjack.
While some neighbouring countries have shown willingness to explore opportunities in the gambling industry, the Saudis have yet to shift their stance.
Vision 2030 and the Entertainment Revolution
Under Crown Prince Mohammed bin Salman’s Vision 2030 initiative, Saudi Arabia has made diversification the defining mission of its future.
However, the Kingdom has managed to keep gambling at arm’s length, despite investing billions of dollars into sectors that are strongly linked to the betting industry.
Saudi Arabia’s economy has traditionally revolved almost entirely around energy. However, fluctuating oil prices and changing global priorities have forced Saudi policymakers to switch gears.
The country needed to build industries capable of sustaining long-term growth beyond fossil fuels.
That forward-thinking objective became the foundation of Vision 2030, the sweeping economic reform programme that was launched ten years ago.
Entertainment is one of the key pillars of the initiative, but the Kingdom has also dipped its toes in sports, tourism, gaming, eSports and technology.
Gaming and eSports have particularly become a focal point, serving as a gateway into technology, digital infrastructure, tourism, global media influence and youth engagement.
Saudi Arabia launched a National Gaming and eSports Strategy aimed at creating thousands of jobs and turning the country into a preeminent global gaming destination.
The Gaming Contradiction Saudi Arabia Cannot Shake Off
Saudi Arabia has already committed billions of dollars to gaming infrastructure, tournaments, development studios and eSports ecosystems.
However, there are a few grey areas that the country may struggle to shake off, especially with modern gaming and gambling becoming increasingly intertwined.
Major eSports tournaments attract millions of dollars in wagers annually through regulated sportsbooks and online betting platforms across Europe, Asia, North America and the Middle East.
Saudi Arabia’s massive investment in gaming could suggest that it’s making a U-turn on its gambling stance. While that’s not the case, it does expose an increasingly complicated contradiction.
The Kingdom wants to be a global gaming powerhouse while keeping gambling at bay, even though both sectors have become inseparable.
The country has maintained its stance in the face of pressure, but it becomes significantly more difficult when tourism enters the conversation.
Saudi Arabia is competing with the United Arab Emirates (UAE), where gambling has been legalised. Tourists are more likely to visit a place where they will have more freedom.
This factor could tempt Saudi Arabia to consider regulating gambling.
Saudi Arabia May Eventually Give in to Economic Pressure
There is no evidence to suggest Saudi Arabia is even remotely considering establishing a regulatory body to oversee the gambling industry.
However, they have come a long way from a nation that relied solely on energy. The country’s development over the years is proof that it can achieve anything with the right tools in place.
There is no telling where the country’s fluid modernisation project could take it, especially with the Middle East’s entertainment and tourism sector becoming increasingly competitive.
Saudi Arabia’s neighbours are making significant moves to corner the market. The UAE has a new regulatory body in place that paves the way for a fast-rising gambling sector.
The ongoing Wynn Resort project further highlights the lengths the country is willing to go to become the primary tourism destination in the Middle East.
Saudi Arabia’s investment power means it will always be influential in the region. But if it does not carve out a significant portion of the sector for itself, pressure points may start to emerge.
