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Online Gambling Platforms Gained Larger User Base With Pandemic As A Driver Of The Global Online Gaming Market 2020

George Miller

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Online Gambling Platforms Gained Larger User Base With Pandemic As A Driver Of The Global Online Gaming Market 2020
Reading Time: 3 minutes

 

Due to the social distancing restrictions imposed because of the coronavirus outbreak, brick and mortar gambling places remained closed, due to which online gambling platforms gained a larger user base. People were forced to sit at home during the lockdown and this increased internet traffic on all fronts. More people frequently visited gambling websites and thousands of new users registered every day. According to research firm Global Poker, the US has witnessed an increase of first-time online poker players by 255% since the coronavirus lockdowns began. Overall, the poker industry has experienced a 43% growth since April 2020. Some countries saw such increases as an opportunity and modified their online-gambling laws. For example, Belarus legalized online casinos and Armenia made some changes to its existing laws. The increasing popularity of gambling apps and social gambling will propel the growth of the mobile gambling market in the forecast period, and several online-gambling platforms increased their marketing and promotional activities in the form of extra tournaments and bonuses to attract more players as well.

With these drivers and the current situation of the world, the online gambling market size is expected to grow from $58.96 billion in 2019 to $92.86 billion in 2023 at a rate of 12.0%. The market is expected to then grow to $113.12 billion in 2025 at a CAGR of 10.4%.

The Business Research Company’s report titled Online Gambling Market Global Report 2020-30: COVID-19 Growth and Change covers major online gambling companies, online gambling market share by company, online gambling manufacturers, online gambling infrastructure market size, and online gambling market forecasts. The report also covers the global online gambling market and its segments. The online gambling market is segmented by game type into betting, casino, lottery, poker, online bingo, others and by device into desktop, mobile, others.

With increasing apps and social gambling, online gambling companies are investing in building mobile platforms for their games to increase accessibility and convenience for users. The availability of smartphones with high-end features such as extended storage, high-end graphics and faster processing speeds at reasonable prices incentivize online gambling companies to make mobile-based applications. Also, mobile gambling offers significant benefits, including more deposit options, loyalty programs, and the option to play with anyone anywhere across the globe. According to App Annie, in 2020, 70% of total gambling revenue is expected to come from mobile gambling.

Along with the ease of mobile apps, companies in the online gambling market are increasingly investing in Artificial Intelligence (AI) for improving the overall experience for customers. With the help of AI, personalization for each user is possible as the technology can analyze the preference of the user in terms of game selection and offer a customized welcome page accordingly, helping the user to save time spent on looking for the right game. AI also helps in providing customer support in the form of chat-bots for resolving queries. Behavior patterns and gaming frauds can also be checked, which helps in preventing frauds and locks out scammers. Technologies such as augmented reality and virtual reality are being implemented as well, giving a more immersive and realistic experience to their users.

Beyond such high-tech updates, online gambling companies are using several tactics to gain more users. Some provide F2P (free to play) types of game products, commonly referred to as freemium. These games do not make any money for the company directly, but revenues are made through upgrades and additions of certain features and improvements by the user. The user pays a minimal amount for different kinds of virtual offerings and other game products to improve the gaming experience. This model allows online gambling companies to increase their user base and have more active players on their platforms who would eventually make a purchase. Currently, many online casinos are offering a free play version of some of their games. Companies innovating their platforms according to the increasing number of customers and their preferences will allow the online gambling market to continue to grow.

Industry News

Gaming Realms Signs Licensing Agreement with Pragmatic Play

Niji Narayan

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Gaming Realms Signs Licensing Agreement with Pragmatic Play
Reading Time: < 1 minute

 

Gaming Realms has signed a licensing agreement with Pragmatic Play to produce Pragmatic Play-themed Slingo games.

Under the terms of the agreement, Gaming Realms is to license market-leading brands from Pragmatic Play’s expansive game portfolio, including Sweet Bonanza and Wolf Gold, to create Slingo games.

Michael Buckley, executive chairman of Gaming Realms, said: “This licensing partnership with Pragmatic Play opens up a range of cross-sell benefits to both parties. The collaboration between two organisations with a key focus on content innovation in the digital space is truly exciting.

“Pragmatic Play creates engaging and immersive gaming content that fits perfectly with Slingo; we’re hoping this announcement should excite both operators and players.”

Yossi Barzely, chief business development officer at Pragmatic Play, said: “Creating memorable gaming experiences is a priority for us and Gaming Realms has an excellent reputation through its Slingo portfolio.

“We have an extremely positive feeling about the potential for Pragmatic Play-themed Slingo games and are eager to see this partnership realise its potential.”

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Latest News

Betway and Surrey CCC announce partnership

George Miller

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Betway and Surrey CCC announce partnership
Reading Time: 2 minutes

 

Global online betting and gaming company Betway and Surrey County Cricket Club are proud to announce their new partnership agreement.

As one of the leading counties in English cricket, Surrey showcases some of the best international and English cricket talent at the globally renowned Kia Oval. Producing the likes of Rory Burns, Ollie Pope and Jason Roy, this announcement will see Betway gain access to Surrey CCC talent.

The agreement will also see venue branding at all domestic and international matches, as well as the bookmaker’s logo on all Vitality T20 Blast shirts.

Joining Betway’s impressive cricket portfolio which already includes Cricket South Africa, Cricket West Indies and Kevin Pietersen, this announcement solidifies the brand’s status as the leading online bookmaker within cricket globally.

Anthony Werkman, CEO of Betway said: “We are extremely happy to be announcing our partnership with the Surrey County Cricket Club. It enforces our continued commitment to cricket and we can’t wait to watch the team compete in the Vitality T20 Blast, LV= Insurance County Championship and Royal London One Day Cup.”

Kevin Pietersen, Brand Ambassador for Betway said: “It’s great to see Betway and my old county Surrey going into partnership. I had a great time at the Oval. The atmosphere there is fantastic and always helps to make the cricket an exciting spectacle.

“Surrey are competing for three different county titles, as well as hosting the fourth match of a blockbuster Test series between England and India. It looks set to be a memorable summer of cricket.”

George Hampson, Head of Corporate Sales at Surrey County Cricket Club and The Kia Oval, said: “As we look forward to a hugely exciting season at The Kia Oval we’re very happy to be partnering with Betway, one of the UK’s most exciting and innovative betting companies.”

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Australia

Star Entertainment Submits Proposal to Merge with Crown Resorts

Niji Narayan

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Star Entertainment Submits Proposal to Merge with Crown Resorts
Reading Time: 2 minutes

 

Australia’s Star Entertainment Group has submitted a conditional, non-binding, indicative proposal to merge with Crown Resorts.

According to details released via the ASX, the proposal values Crown’s shares in excess of AU$14 per share – exceeding the value put forward by competing bids in recent weeks which value Crown at closer to AU$12 per share.

Those competing bids include a revised offer from American multinational private equity and hedge fund giant The Blackstone Group, received over the weekend, which increases its bid from an original AU$11.85 per share to AU$12.35 per share.

US global asset management firm Oaktree Capital Management L.P. has also proposed a AU$3 billion offer to acquire the 37% stake in Crown currently held by James Packer’s Consolidated Press Holdings.

However, Star has outlined its case for a merger, with the offer representing a share exchange ratio of 2.68 The Star shares per Crown share with a cash alternative of AU$12.50 per Crown share for up to 25% of Crown’s issued share capital.

“Based on recent trading values of The Star and the substantial value that would be unlocked by a merger, The Star estimates its pro forma share price to be more than AU$5 per share, implying potential value of the Scrip Consideration in excess of AU$14 per Crown share,” it said.

The Star said it believes a merger represents a “compelling value proposition for all shareholders by creating a national tourism and entertainment leader with a world-class portfolio of integrated resorts with enhanced scale and geographic earnings diversification, significant balance sheet strength and free cash flow generation.”

It would also allow for AU$150 million to AU$200 million in cost synergies per annum with an estimated net value of AU$2 billion.

“A merger of The Star and Crown would result in significant scale and diversification and unlock an estimated AU$2 billion in net value from synergies,” Star Chairman John O’Neill said.

“With a portfolio of world-class properties across four states in Australia’s most attractive and populated catchment areas and tourism hubs, the combined group would be a compelling investment proposition and one of the largest and most attractive integrated resort operators in the Asia Pacific region.”

According to Star, a merger would also open the door for potential sale and leaseback opportunities on some of the group’s enhanced property portfolio – leaving the door open for the likes of Blackstone and Oaktree to acquire assets in the future.

Crown said it has not yet formed a view on the merits of the proposal and will commence an assessment process on its merits.

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