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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

Gambling in the USA

Gaming Americas Weekly Roundup – May 20-26

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

NHRA announced an exciting and landmark step forward for the company with the launch of PlayNHRA, an innovative new initiative that will provide fans opportunities to engage in fantasy games, gaming, and betting for NHRA Mission Foods Drag Racing Series events. As part of PlayNHRA, NHRA’s partnerships with leading sports books and fantasy sports providers will enable fans to sign up for free and legally wager on national events and other outcomes in the NHRA Mission Foods Drag Racing Series.

The Miccosukee Casino & Resort is preparing to unveil a new and exclusive smoking casino section. The venue, located in the northwest corner of the property, is tailored for casino-goers who prefer to smoke while playing their favourite slots in a comfortable and refined indoor ambiance featuring 20-foot-tall ceilings.

Greenlite Ventures Inc. has announced the signing of an Acquisition Agreement with No Limit Technology Holdings Inc. (NLTH), an emerging powerhouse in the Sports Betting arena. The Agreement is scheduled to be finalised following a 30–45-day due diligence period.

The Commerce Casino & Hotel has announced Jamie Gold as the Team Captain/Coach for The Commerce Casino & Hotel’s very own professional poker team for the upcoming WSOP 2023/2024 circuit in Los Angeles, as well as the 100 million dollar WSOP Main Event in Las Vegas this July. Gold, an iconic figure in the world of poker, brings his legendary expertise and wisdom to lead the team to victory.

Quick Custom Intelligence, a leading provider of innovative solutions for the gaming industry, has announced a significant milestone in its journey. With immense dedication to research and development (R&D) and a steadfast commitment to customer satisfaction, QCI has expanded its presence in Nevada to over 75 sites. This achievement underscores QCI’s position as a trusted partner in the gaming community.

Michigan commercial and tribal operators reported a combined $234.8 million total internet gaming (iGaming) gross receipts and gross sports betting receipts in April. Gross receipts decreased 8.7% compared to last month.

Partnerships

International Game Technology announced that its IGT PlaySports Trading Advisory Services Team is now supporting sports betting in Michigan via a new services agreement with the Lac Vieux Desert Northern Waters Casino & Resort in Watersmeet. In addition to now leveraging IGT PlaySports’ expertise for a range of trading-related services, Northern Waters has powered its sportsbook with IGT’s award-winning platform and self-service betting technology since 2021.

Mancala continues to go from strength to strength in the Brazilian online gaming market, with the announcement of another new partnership. This time the partnership has been created with leading platform provider, XSA Sports. A prominent name across the Brazilian igaming landscape, this new partnership will allow for even more users to play Mancala games in this up-and-coming market.

Pragmatic Play has expanded its Live Casino footprint across Peru after going live with major local operator, Atlantic City. The partnership sees Pragmatic Play’s full Live Casino portfolio integrated with the operator, enabling players in Peru to enjoy market-leading titles such as Blackjack, Roulette and Baccarat from the supplier’s award-winning portfolio.

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Introducing the Winners of the 2024 Game Developer Awards

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2024 Game Developer Awards
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Play’n GO, Playtech, Elk Studios, Pragmatic Play and streamer CasinoDaddy were some of the big names celebrating victories at the 2024 edition of the Game Developer Awards ceremony.

Concluding the final day of the highly successful CasinoBeats Summit, the illustrious awards ceremony, which took place at the Hilton Malta, was a night dedicated to honouring the remarkable achievements of the iGaming industry.

The evening witnessed the return of veteran host Trudy Kerr, alongside award-winning game developer John Romero, as they handed out 28 awards to accomplished operators, game studios and individuals. Award categories included Game Performance, Streamers, Game Creation, Game People, SlotCatalog, Casino Platform, and Best Game Release.

Rasmus Sojmark, Founder and CEO of SBC, said: “The Game Developer Awards offers a pivotal opportunity to honour the remarkable accomplishments of the industry, celebrating both regional and global brands as well as individual talent. This year’s shortlist was by far the most competitive we have seen, and I would like to congratulate all our esteemed winners.”

It was a good night for Play’n GO, who secured the prestigious SlotCatalog’s Game Studio of the Year (Large) award for the second consecutive year, whilst also picking up the Game Music / Soundtrack accolade for their title Hugo Legacy.

The game creation categories saw Playtech once again take home the Game Licensed Content award for their work on Breaking Bad: Cash Collect & Link. Hacksaw Gaming was awarded Game Feature of the Year for their title Chaos Crew 2, Relax Gaming was honoured with the Game Design & Art Direction award for Money Train 4, and GAMOMAT was named winner of the Game Retro-Style award for Fancy Fruits Deluxe. 

Pragmatic Play notably took home two awards on the night, winning both the Game Mechanic of the Year award for their MultiHold mechanic and Slot Legacy Title for Gates of Olympus.

The SlotCatalog categories saw GAMOMAT return to the stage to pick up their second award of the night for Best Game Development Company Central Europe, while Playson was awarded Best Game Studio In Development Countries. Reel Kingdom secured the SlotCatalog’s Game Studio of the Year (Medium) award, Fortune Factory Studios was named SlotCatalog’s Game Studio of the Year (Small) and IGT Play Digital claimed SlotCatalog’s Best Game Development Company North America. 

The coveted SlotCatalog’s Rookie of the Year accolade was presented to industry newcomers Area Vegas.

In honour of the individual achievements in the industry, the Game People categories saw Andrei Filipovich of Aviatrix awarded Game Designer of the Year, Julia Aliakseyeva from BGaming named Product Manager of the Year and PearFiction Studios’ Jean-Pierre Larouche presented with the Game Composer of the Year award.

EveryMatrix won the Aggregator of the Year award, The Mill Adventure was awarded Platform Innovation of the Year, while the Best Game Release award went to Lambda Gaming for 8Bit Football Twinko.

This year’s edition saw the introduction of two new awards, the FTN Game of the Year award which was sponsored by BetConstruct and presented to Rubyplay for Mad Hit Olympic First, and the CasinoBeats Annual Community Recognition Award which was awarded to SoftConstruct for its work on BFTH Arena.

It was a big night for CasinoDaddy who took home the esteemed Streamer of the Year award, while The Slot Beasts and Haddzy were recipients of two new Streamer awards, Responsible Streamer of the Year and Next-Gen Streamer of the Year, respectively.

In the Game Performance categories, PowderKeg Studios claimed the Slot Debut award for their title Munition Mines, Stormcraft Studios won Slot to Watch for their work on Immortal Romance 2, while Light & Wonder and Netflix took home Slot Collaboration of the Year for Squid Game. The illustrious Slot of the Year award went to Elk Studios for Pirots 2.

“Last night’s ceremony was a tremendous success and proved to be a truly memorable night. I would like to thank our official partner Gaming Malta, alongside all our supporting sponsors for their help in honouring the incredible achievements of the industry” Sojmark added.

The awards ceremony concluded the final day of the CasinoBeats Summit, which saw 4,500 industry professionals convene at the InterContinental Hotel in Malta, the hub of iGaming.

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Amusnet: Stoichkov#8 is back in the game

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Stoichkov#8 is back in the game
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Amusnet proudly presents a one-of-a-kind video slot, starring the football legend Hristo Stoichkov. Launching the game prior to UEFA EURO 2024, the slot game embodies the intensity and excitement of football, offering fans worldwide an exclusive gaming experience as anticipation for the championship reaches its peak.

Stoichkov#8 is a 5-reel 40 fixed playlines video slot offering gameplay filled with captivating features. With 6 thematic symbols, immersive graphics and stunning animations, this game will excite players as if they are on the football field side by side with the legendary player. His special symbols – the Wild and Scatter build up the anticipation as the reels spin increasing payouts and triggering features. The thrill never ends with the engaging gaming experience and football-themed atmosphere.

Expanding Wild

Pass the ball to Stoichkov as his symbol expands on the whole reel and substitutes for other symbols, increasing your winning potential.

Free Spins with Expanding Wild

Land 3 Scatter symbols and Stoichkov will guide you towards glorious wins during the Free Spins.

Buy Bonus

For the impatient ones we have added a Buy Bonus feature that allows you to purchase Free Spins anytime during your play.

Gamble

Boost your winnings through a mini-game and test your luck.

Jackpot Cards

The Jackpot Cards Bonus game is triggered at random during the gameplay to allow players to win impressive Jackpots.

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