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Global Online Gambling Market to Reign in Huge Profits till 2025 with Registering a CAGR of 13.2%

Published

2 years ago

February 5, 2021

Global Gambling Industry Report 2022: Information and Data on Activities in 250+ Jurisdictions

Reading Time: 4 minutes

2020 was a game-changing year online gambling market, mainly due to the online gaming & gambling legalization in the US. Ballot initiatives in the U.S. presidential election from November 2020 added new states to the growing list of U.S. states where online casino betting is legalized, allowing the online gambling market to garner significant revenues. The newly elected government signaled support for opening up the online gambling industry and reducing federal restrictions.

More legal breakthroughs expected in 2021 would become a huge momentum driver in the online gambling industry. Players like Bragg Gaming Group, MGM Resorts International, Wynn Resorts, Flutter Entertainment, and Caesars Entertainment are seeing new opportunities to increase their online footprint into major gaming markets in Europe, North America, and APAC markets that could mean big things in 2021 and beyond.

This also means that online gambling markets worldwide would garner significant traction. According to Market Research Future (MRFR), the global online gambling market size is projected to grow at a 13.2% CAGR during the forecast period (2019–2025). The market was valued at USD 117.99 billion in 2018. Besides, advances in connectivity and other related technologies are expected to foster the global online gambling market size.

COVID-19 Impact
The COVID-19 outbreak has positively impacted the already booming online gambling market, increasing public interest in online gaming by almost 52%. The pandemic and subsequent lockdowns worldwide allowed people with more free time to involve in gaming and leisure activities.

Besides, safe distancing mandates are increasing the uptake of online gambling, allowing access to all the games, slots, and sport betting facilities from home comfort. With the increased uses of various cloud gaming services, the online gambling market share is witnessing a constant uptick over the past few months.

Also, increasing investments are seen by the service providers to foster R&D activities to allow slot developers and online casino sites to exploit the online gambling market opportunities, making entertaining gambling programs & games from side project to the next global sensation.

Industry Trends:
Rapid developments in Internet technologies and mobile apps are projected to increase the online gambling market size, registering a significant growth in terms of revenues and the amount of time users spend on such gambling activities. Online poker and casinos are some of the widely played games in the overall online gambling market. With the improving Internet connectivity, online gambling platforms enable gamblers to play with anyone at a time.

Online gambling platforms offer various benefits compared to traditional gambling, such as support with numerous languages and multiple currencies depending upon the gambler’s location. Also, the online gambling platforms use real money, and they’re not required to exchange chips for money, the key feature that is not available in traditional casino games. These are some of the factors significantly boosting the online gambling market growth.

On the other hand, regulatory norms such as The Information Technology Act in India that have certain provisions to ban foreign websites in the country restrict online gambling market growth. Also, in some countries, the governments have invoked the ban on playing on certain foreign betting sites, which can pose challenges to the growth of the online gambling market.

Segmentation:
The online gambling market is segmented into game type, device type, end users, and regions. The game type segment is sub-segmented into betting, casino, poker, lottery, online bingo, and others. The device type segment is sub-segmented into desktop and mobile. The end-user segment is sub-segmented into gambling enthusiasts, social exuberant, and dabbles.

Regional Segmentation:
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.

Europe is projected to dominate the global online gambling market. The presence of a large number of online gambling service providers that offer secured gambling platforms, such as Kindred Group PLC, Bet365, and 888 Holdings, drives the growth of the market in the region.

Besides, increased demand for online gambling services and improved Internet connectivity with high reliability in this region boost the market growth. Furthermore, advanced technologies and favorable government rules and regulations across various countries influence the region’s online gambling market share.

North America is expected to acquire the second position in the global online gambling market. The market rise is predicted to be driven by the rising numbers of gamblers, and gambling platforms in the region contribute to the regional market growth. Current regulatory reforms in the United States are projected to create vast opportunities for new and established companies across the US gaming industry to move into the online space and serve a wider market of customers.

The Asia Pacific region is anticipated to emerge as a profitable market for online gambling globally. Increasing focus on improving internet connectivity and high R&D investment are the major factors projected to influence market growth in the region. Furthermore, technical expertise and the proliferation of smartphones foster the growth of the market. Online gambling platforms in emerging countries such as Indian and China are likely to boost the region’s market share during the assessment period.

Competitive Analysis:
The online gambling market is expected to witness significant product launches and implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players are making strategic investments in research and development activities and fostering their expansion plans.

For instance, recently, on Jan. 29, 2021, FOX Bet, along with Pokerstars and Stars Casino, launched its sports betting and online gambling products in Michigan following a major sports-betting app that was approved in the state earlier in January 2021.

In another instance, an online gambling company – Golden Nugget Online Gaming (GNOG), in December 2020, announced the launch of services in New Jersey and is poised for additional expansion with significant investments.

Key players involved in the online gambling market are:

The Stars Group (Canada)
International Game Technology PLC (US)
Betsson AB (Sweden)
Net Entertainment (Sweden)
Kindred Group Plc (Malta)
Paddy Power Betfair PLC (Ireland)
Ladbrokes Betting & Gaming Ltd. (UK)
888 Holdings PLC (UK)
Bet-at-home.com (UK)
Betfair Group plc. (UK)
Bwin. Party Digital Entertainment (Austria)
William Hill Plc (UK)
bet365 (UK)
Scientific Games (US)
VGC Holdings PLC (Isle of Man)
Betway (Europe)
Spin Inc. (US)
Royal Panda (Europe)

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REEVO onboards Playson as platform partner

Published

17 hours ago

March 24, 2023

Gaspar Incze

Reading Time: < 1 minute

REEVO, the B2B content and aggregation platform, will integrate Playson casino content to its expanding roster of platform partners.

Playson, one of the industry’s leading games providers, will add its portfolio of 85 omnichannel casino games to the REEVO platform enabling it to extend its distribution to REEVO operator partners who will gain access to an even more diverse content offering.

REEVO, alongside creating a growing list of proprietary games, is onboarding a rapidly accelerating range of the industry’s leading content suppliers to provide operator partners with a comprehensive selection of the most diverse suite of games – all through a single API integration.

Petra Maria Poola, Head of Sales, Reevo, said: “Playson have become a household name as one of the leading games providers in our industry in recent years so to add their content to our platform was a no-brainer, providing our operator partners with even more best-in-class titles.

“REEVO’s platform growth is phenomenal and we are building something special that brands will not want to miss out on and that will take their casinos to the next level.”

Tamas Kusztos, CCO at Playson, added: “We are delighted to partner with REEVO. Playson is always looking for exciting partnerships to drive the expansion of our presence in a market, and the deal with REEVO underlines this direction perfectly.”

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Germany’s Best Employer 2023: GAMOMAT earns top place

Published

18 hours ago

March 24, 2023

Gaspar Incze

Reading Time: < 1 minute

GAMOMAT, one of the leading independent software developers for slot games, was recognised at the “Germany’s Best Employers 2023” competition, held yesterday evening at the Flora Cologne ballroom.

Out of more than 900 participating companies of all sizes and sectors, GAMOMAT made it into the top 100 and achieved an outstanding 13th ranking. This achievement points to the strength of GAMOMAT’s value-oriented corporate culture and confirms the company’s continued success story.

The evaluation process for the “Germany’s Best Employers 2023” competition was voluntary and independent. GAMOMAT’s employees were surveyed anonymously, assessing important factors such as leadership, trust, recognition, support, care, cooperation, team spirit, and identification with the company. Additionally, the company’s management provided information about their personnel and management procedures and measures.

“Our philosophy of ‘Good Work’ is very important to us. The quality of communication and collaboration has the highest priority for us, especially because we’ve adopted a hybrid and highly flexible working model. In this respect, the excellent ranking achieved in ‘Germany’s Best Employer 2023’ competition showcases what is experienced at GAMOMAT everyday. It makes us proud as a team and gives us momentum for our current and upcoming projects,” said Dr Alexandra Krone, Managing Director of GAMOMAT Development GmbH after the event.

GAMOMAT’s competition standing highlights the company’s commitment to providing an exceptional workplace culture that values its employees. The company’s encouragement of respectful interactions and promoting a supportive work environment has led it to being known as one of the best employers in Germany. The recognition achieved by GAMOMAT provides momentum for the company’s current and upcoming projects, solidifying its reputation as a dynamic and successful organisation.

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IGT Signs Deal with Gift & Go

Published

20 hours ago

March 24, 2023

Niji Narayan

Reading Time: < 1 minute

International Game Technology PLC (IGT) has announced that it has signed an agreement with B2B gifting technology platform, Gift & Go. This relationship will provide casino operators who use the IGT ADVANTAGE casino management system the option to add Gift & Go’s on-demand gifting technology platform to their slot machines’ service window or secondary display via IGT’s M5 content management technology. When deployed, Gift & Go enables players to conveniently participate in promotional gift programs and collect an array of goods that are fulfilled via Amazon Business.

“IGT’s agreement with Gift & Go can provide incremental value to our IGT ADVANTAGE system customers by enabling players to get items from Amazon Business through casino loyalty club gifting programs. We view this as a great way to enhance our systems solutions offering while helping our customers reduce product storage demands, labor requirements and capital allocations through a convenient and modern experience for their guests,” said Ryan Reddy, IGT SVP Global Video Poker, VLT, Systems and Payments.

“Through our agreement with IGT, Gift & Go can integrate with the widely deployed IGT ADVANTAGE casino management system and help a diverse spectrum of casino operators significantly enhance their loyalty and continuity club gifting programs, which can help increase revenue and reduce player walk rate. The proven Gift & Go platform helps casino operators maximize player retention and replace legacy processes with automation, personalization and convenience that players genuinely appreciate,” said Jon Reuben, Gift & Go Co-CEO.