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Online Gambling Market is Projected to Reach USD 160 Billion by 2026

George Miller

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Online Gambling Market is Projected to Reach USD 160 Billion by 2026
Reading Time: 3 minutes

 

According to a recent study from market research firm Global Market Insights, The global online gambling market is estimated to witness tremendous revenue growth over the coming years due to an upsurge in smartphone adoption and improving internet infrastructure across the world. Additionally, convenient and easy accessibility to online casino gaming platforms would also complement the overall market outlook over the analysis time period.

Gambling is termed as risking money or anything which is of material value for uncertain results. The initial purpose is of winning an additional amount or material goods. Online gambling also known as internet gambling is basically betting on sports type games or casino done over the internet. Bingo, slots, roulette, keno, poker, lotteries are some of the examples of online gambling.

In addition, various new features introduced by gambling platforms by leveraging technological advancements to attract more customers. This new trend is anticipated to majorly foster the industry size in forthcoming years. Various new technologies like Virtual Reality, 3D Animation, Live Table Games, and convenient as well as mobile-friendly gaming are majorly propelling the market outlook over the coming years.

As per a research report by Global Market Insights Inc., the online gambling market would likely exceed a valuation of $160 billion by the end of 2026.

In terms of type, the online gambling market is bifurcated into bingo, lottery, poker, casino, and betting. The betting segment is further classified into tennis, horse racing, Formula 1, football, esports, and boxing & UFC. Among the other segments, the online betting is the fastest growing segment over the forecast period. In fact, Chabot, machine learning, and AI (Artificial intelligence) have substantially taken over the market. Further, the convenience of cashless payment methods during gaming and increase in the number of female populations in casinos are likely to drive the online gambling industry.

Talking of the lottery segment, though lotteries are still very popular in Colombia, their revenues have progressively diminished as a result of competition from modern games, such as Baloto, which is an electronic lottery game managed by Coljuegos. With the popularity of modern games, the lottery segment might witness slow growth over the coming years.

Based on device type, the online gambling market is classified into desktop and mobile. The desktop device type segment will witness substantial growth over the coming years. The proliferation of sports betting ads across the world and ease of sports betting using desktop is expected to propel segment growth.

On the regional front, the Asia Pacific online gambling industry witnessed a significant upsurge in the industry recently due to the coronavirus pandemic. The strict lockdowns imposed by regional government authorities were responsible for majorly driving the adoption of online betting among APAC customers. In fact, according to the reports of illion Australia and AiphaBeta Australia, Australia witnessed a tremendous 67% rise in online gambling back in April 2020, after the country closed every non-essential service in Australia to keep the case count low. Likewise, the closing of land-based casinos has further resulted in a significant upsurge in the players using online casinos in countries like India.

Similarly, even Global Poker, the US-facing online poker room, reported a tremendous 43% growth in the adoption of online poker platforms across the United States after the lockdowns and social distancing mandates took effect. Additionally, the region observed an immense 255% rise in first-time players. Moreover, a lot of free time in the lockdown has compelled people to use online gambling platforms to pass time, which is majorly pushing the market landscape.

Key Companies covered in online gambling market are 888 Holdings PLC, Bet365 Group Ltd., BetAmerica, bet-at-home.com AG, Betfred, Betsson AB, Buffalo Partners, DraftKings Inc., Flutter Entertainment, GVC Holdings PLC, International Games Technology, Kindred Group PLC, Playtech PLC, Scientific Games, Sky Betting and Gaming, The Stars Group Inc., William Hill PLC.

 

Source: https://www.gminsights.com/pressrelease/online-gambling-market

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How to win at Online Casino Games

Zoltan Tundik

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Photo by Sergey Zolkin on Unsplash
Reading Time: 2 minutes

 

Online casino comes with lots of benefits. The rate and size of winning at online casinos are higher than the brick and mortar casinos. Players have the opportunity to shop around for casinos that offer more attractive bonuses and promotions. With land-based casinos, this is almost impossible. With online casino, you’ll find huge collections of games and many opportunities to win. If you’re new to online gaming or you’re looking for better strategies to make more money at online casino games, the tips shared by lvbet.lv in this post will be of great help to you.

Winning Tips at Online Casino Games

  • Sign up with a good online casino

Your gaming experience is determined largely by the online casino you sign up with. You need to research to find a good casino that can offer you everything that will make your casino experience exciting. You should sign up with a casino with a huge game collection. It should also have a transparent and fair gaming system. The payment options and customer supports are also critical things to check out for. Some other things you should look out for in an online casino include the licenses and regulation of the casino, players’ reviews, game options, years of existence, bonuses and promotions, wagering requirements, reliability and reputable, and others.

  • Check out the Offers

Online casinos offer bonuses and promotions to attract and retain players. Although this is a marketing strategy, you can still take advantage of the offer and make some winnings from it. Some casino sites offer promotions and bonuses with minimal requirements. Some others offer free spins to let you try new games. Check out all the offers and settle for the ones that will earn you the best money without much investment.

  • Focus on Games that you’re good at

It’s normal to want to try out new games. However, if you want to make money while playing, it’s better to stick to games that you’re familiar with, especially if you’re playing for real money. You can use free spins to try new games but if you’re investing money, stay with games that you understand. Before you start playing a game with real money, ensure you understand the rules and strategies of the game. Practice as much as you can before you play for money.

  • Give the Big Jackpot a try

Of course, most jackpot games depend on luck but nothing says lady luck can’t smile on you. If you want to make big money at an online casino, jackpots are the best way to get it. However, before you place a wager, understand that the bigger your potential winning, the bigger the risk you’re exposed to. Make sure you understand this before you commit your money.

  • Gamble Responsibly

Don’t gamble with money you cannot afford to lose. There’s nothing guaranteed with gambling. The chances you have to win are the same you have to lose. Therefore, count your cost before you go into it.

Conclusion

Now that you know what you can do to make more money in your online casino games, it’s time to get started. However, always check the wagering requirements of any offer before you accept it.

 

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EPIC team-up with mobile health app RecoverMe

George Miller

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EPIC team-up with mobile health app RecoverMe
Reading Time: 2 minutes

 

EPIC Risk Management has teamed-up with RecoverMe, a brand-new mobile health app that empowers individuals to manage a gambling addiction from their pocket.

The collaboration will see the RecoverMe app being used as part of selected EPIC Risk Management’s educational programmes to support individuals who may be at risk or already suffering from a gambling addiction.

RecoverMe has been developed by three junior doctors in consultation with psychologists, psychiatrists and those suffering from gambling addiction.

Dr Minal Jain, co-founder of RecoverMe: “We are delighted to announce our collaboration with EPIC to combine our efforts to reducing gambling-related harm across the country. Collectively, we can provide education, prevention, and management support within organisations where there is a higher prevalence of problematic gambling. Highlighting the need for all three of these fundamental components going forward.

“EPIC Risk Management was founded in 2013 and since then they have established themselves as experts in the education and prevention space. It is inspiring to see how Paul Buck (EPIC CEO & Founder) and the EPIC team have used their lived experience to make such a positive impact. They have worked with a number of organisations, in a variety of sectors throughout the country to tackle risks associated with a gambling addiction.

“By joining forces, we hope to increase the awareness around this addiction, reduce the stigma associated and offer individuals management tools such as RecoverMe that will be beneficial in their journey of recovery. Having shared the panel with EPIC, at the SBC Digital Summit in Barcelona earlier this year, there was a resounding discussion regarding the incorporation of innovative solutions, so, to be working with EPIC to make this happen is very exciting!”

Speaking about the collaboration, EPIC Risk Management’s Director of Educational Programmes, Patrick Foster said: “RecoverMe share many of EPIC’s values and approaches to reducing gambling-related harm. They share EPIC’s belief of how integral education is to provide a holistic approach to support individuals who may be at risk of developing a gambling addiction, or those who are already experiencing one.

“Furthermore, EPIC recognise and believe that everyone who is struggling with issues with gambling addiction is able to access support and treatment, and RecoverMe allows individuals who may not have a recognised support pathway to immediate, accessible and effective treatment.

“We are looking forward to collaborating with them moving forward in selected programmes”

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Genius Sports Group secures exclusive 10-year official data and streaming partnership with Polish basketball

George Miller

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Genius Sports Group secures exclusive 10-year official data and streaming partnership with Polish basketball
Reading Time: 2 minutes

 

Genius Sports Group granted the exclusive rights to distribute live data and video from Polish basketball to its global network of sportsbook partners

The Polish Basketball League (PLK) and Polish Basketball Association (PZK) have selected Genius Sports Group as their Official Data & Streaming Partner in a 10-year exclusive partnership.

As the premier technology partner in world basketball, Genius Sports Group will continue to provide Polish basketball with its leading data collection, management and distribution solutions. FIBA LiveStats will capture advanced play-by-play statistics including shot, four and turnover locations at eight competitions and more than 1,800 games per season.

FIBA LiveStats GameCentres will help both the PLK and PZK connect with their fans at each stage of hundreds of games per year. Fans will be brought closer to the action, analysing head-to-head records, full box score statistics and team and player shot charts.

From the 2021/22 season onwards, both the PLK and PZK will be able to implement Genius Sports’ cutting-edge live streaming solutions, delivering live broadcasts, data-driven graphics and highlights to fans worldwide. GeniusLive and GeniusLive+ are powering live streaming solutions for leagues and federations at all levels of world sport, delivering vital visibility and new revenue opportunities.

Radosław Piesiewicz, President of the Polish Basketball Association and Polish Basketball League, said: “Signing a long-term contract with such an important partner as Genius Sports will allow us to take another big step forward for the development of Polish basketball. Apart from cooperation with other basketball federations, Genius Sports cooperates with the NBA and the World Basketball Federation (FIBA).

“For the first time, Genius Sports will have the exclusive rights to distribute live date and video from all Polish basketball games. I am convinced that such 10-year cooperation will allow us to promote our leagues outside Poland, providing a platform for faster and even better development of our leagues.”

Jonny Katanchian, Head of Commercial Partnerships – EMEA at Genius Sports, said: “Long-term, trusted partnerships like this are pivotal to driving the development and global expansion of basketball leagues and federations. FIBA LiveStats will continue to power a world-class data ecosystem while our streaming solutions and global distribution networks will transform how Polish basketball engages new audiences around the world.”

On October 27, 2020, GSG entered into a business combination agreement with dMY Technology Group II, Inc. (NYSE: DMYD.U, DMYD and DMYD.TS) to drive its expansion as a leading provider of official data and technology powering the global sports, betting and media ecosystem. Upon the closing of the transaction, the combined company expects its ordinary shares and warrants to trade on the NYSE under the symbols “GENI” and “GENI WS”, respectively.

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