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

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Online Gambling Market is Projected to Reach USD 160 Billion by 2026
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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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BOLD NEW IN-GAME AD PLATFORM REVEALED BY PLAYSTACK

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Leading videogame publisher Playstack today proudly announces the launch of its innovative new advertising technology for developers – the ‘Interact’ SDK – which offers real world redeemables that reward players for interacting with (rather than being interrupted by) in-game advertisements.

Advertising plays an increasingly important role in game monetisation, however Playstack believes there can be better, less interruptive ways of integrating ads.

Interact has been designed to offer developers a new way to monetise whilst making gaming sessions more immersive and rewarding; seamlessly integrating brands into games. This lightweight, easy to integrate SDK gives developers three new advertising alternatives; virtual display advertising, full level takeovers and real world rewards. Developers get engagement and revenue, brands get new customers and players get free stuff.

The Interact technology also gives developers a free, powerful and integrated way to cross promote their own games and apps; allowing them to engage even more with their ever growing audiences.

“Serving ads to gamers has increasingly become like the Wild West. Players are seeing ads interrupt their mobile gaming experience, causing people to skip them, ignore them, or even churn from the game completely. We intend to change that,” said Harvey Elliott, CEO of Playstack. “Our ethos compels us to search out better ways to serve both developers and players – so we’re thrilled to launch Interact as a serious alternative for integrating advertising into games.”

The brand partnership team at Playstack have years of experience and an intuitive understanding of how to integrate brands into games from their work with Playstack’s own portfolio of games. They know how to deliver a branded in-game experience which delights and rewards players and generates real campaign value for brands. Through Interact they are bringing this network of partners and campaign know-how to games developers worldwide.

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NASR Esports takes Global Esports Tour 2021 Dubai title in undefeated run

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United Arab Emirates-based team NASR Esports lifted the Global Esports Tour 2021 Dubai title in style, winning the Counter-Strike: Global Offensive tournament in an undefeated run on November 27.

The team beat Doomsday 2-0 in the semi-finals in a best-of-three tie, before whitewashing Triple 6 3-0 in the best-of-five grand final to win the US$8,000 pay cheque.

The runners-up took home US$4,000 while Doomsday and Level E-sports won US$1,500 for making it to the final four.

They came through a field of 30 teams that took part in the open qualifiers, all vying for a spot at next year’s Global Esports Tour Dubai.

NASR Esports’ victory will assure them a spot at the event in March, where they will compete against the world’s best professional CS:GO teams for a total prize pool of US$250,000.

The Dubai event wraps up the 2021 season of the Global Esports Tour, following successful stops in Los Angeles and Riyadh. Next up on the GEF calendar is the inaugural edition of its flagship event: the Global Esports Games held from December 17-19 in Singapore.

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Crypto gambling wins the market: BGaming gathered Q3 iGaming trends

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Over the past several months, the BGaming expert team has continued to analyze current trends within the gaming industry to determine the latest and most influential changes to the market. What cryptocurrency has shown the most significant growth across Q3, and which BGaming title has become the most fast-growing slot in the portfolio? BGaming has gathered a few interesting facts below.  

Mobile gaming keeps leading position. According to our company’s statistics, mobile gaming has far and away remained the most popular method of gaming, exceeding gaming on both a tablet and a computer. As a matter of fact, almost 95% of our players choose to play our games on their mobile devices, as opposed to nearly 3% and 2% for computers and tablets, respectively. 

The share of the young adult audience is growing. BGaming team has seen an increase in our young adult audience by almost 6% over the past year. In the current climate, young adults are spending more and more time at home looking for new forms of entertainment. Following that trend, iGaming providers track the most popular demands of this new generation, creating and adapting new games and products to meet the needs of this growing market. 

“When composing the road map of our games, we always rely on the analytics that our team collects. Of course, we strive to meet the needs of different generations, but it is important to be flexible and notice any changes in the market on time. So, for example, we see that the demand for exclusive products is growing. The audience wants to see unique games created according to their requests. And this is what we are working on, producing Brand Exclusive games for operators,” noted Marina Ostrovtsova, Executive Director at BGaming.

Crypto gambling wins the market. This year has seen an explosion in the popularity of cryptocurrency across every aspect of life. As digital money becomes more normalized, there has been a surge in their use across all igaming products. Of course, Bitcoin continues to be the most popular form of crypto; however, Litecoin has shown the most remarkable rise in popularity across Q3, increasing by 49%. In addition, Tether expanded in favor this year. BGaming team calculated a 108% increase in its use across brand’s titles in Q3.

Being the world’s first iGaming provider to offer cryptocurrencies, we draw particular attention to crypto gambling. BGaming widens its network of crypto projects and we see the results. The number of explosive winnings on crypto projects has significantly rised over the past few months,” highlighted Bogdan Gres, Brand Team Lead at BGaming.   

Aloha King Elvis is the fastest growing BGaming slot of 2021. BGaming has already released 11 games in the past year, including WBC Ring of Riches, Lucky Dama Muerta, and Dig Dig Digger slots. Released in Q3, the sequel to the immensely popular game Elvis Frog in Vegas, Aloha King Elvis, has almost caught up in popularity and shows the fastest growth among other BGaming titles. The game inspired by the talent and magnetism of Rock-n-Roll King shares includes three types of Jackpot and two types of Free spin rounds that make slot especially attractive to players. 

“We wanted to continue the story of cue Elvis which has already become a symbol of BGaming. The game met our expectations. Moreover, new features such as Buy Bonus and Chance 2.5 added in October also stimulated popularity growth,further noted Bogdan Gres, Brand Team Lead at BGaming. 

BGaming is a fast-growing game provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 550+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 70+ products with HD graphics and a clear user interface for every device.

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