Bet it's bad
As you step off the plane at Yerevan's international airport, the first thing that greets you isn't a view of famed Mount Ararat. No, it's glowing, colourful advertisements for online casinos. Armenia's gambling industry isn't just booming – it's eating up the talent pool and economic future.
Today, nearly one in three jobs in Armenia are tied to iGaming. In simple terms, iGaming is online gambling activities such as sports betting, online casinos and betting websites. The industry is so big that a significant portion of the country's growing tech talent is absorbed into it.
Take Lilit, a young tech specialist, who landed her first job at one of Armenia's leading iGaming companies. She didn't think much about the industry. ”I was impressed by the professionalism, the modern office, flexible hours, high salary, and all the perks – from wellness benefits to learning opportunities,” she says. Violetta, a former communications specialist, shared the sentiment as she initially joined the company without even realising it operated in the iGaming sector.
Many iGaming companies present themselves as IT firms which provide software services. They then attract thousands of young professionals who seek experience and financial stability, even hiring directly at university job fairs. The hiring strategy is just like their promotion tactics: the company polishes its public image, attracts talent with appealing benefits, and then traps these individuals, often uninformed and vulnerable, into a system.
How would you feel knowing the system you're building can drain twice your monthly salary in a single click? Violetta's short time at the company focused on training for client interactions, and even targeting tactics for young people like 16-year-olds. ”I realised I had become part of a system that was tearing apart thousands of families in Armenia,” she said. Lilit, whose job was more technical, also questioned her role. ”At some point, I just thought – I don't want to be part of this betting culture. What am I contributing to the world?' Eventually, both decided to leave.
The issue becomes hard to ignore when Armenia's gambling turnover ($18 billion) exceeds its national debt ($12.84 billion). Armenia has created an economic dependency on an industry that doesn't generate real value, but it exploits the vulnerable to enrich a powerful few.
Lilit's and Violetta's stories reflect a broader dilemma. Armenia's best software engineers, designers, and marketers use world-class skills to tune addictive digital slot machines instead of solving real-world problems.
While the iGaming industry offers growth opportunities, it also redirects critical talent away from sectors that could have a deeper social impact. It's a free market, yes. But in today's Armenia, choosing to work in iGaming is often less about freedom of choice and more about a lack of alternatives.