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

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Global Gambling Industry Report 2022: Information and Data on Activities in 250+ Jurisdictions
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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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1/ST PARTNERS WITH FRANCE GALOP TO BOOST INTERNATIONAL RACING BETWEEN FRANCE AND U.S.

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1/ST, North America’s preeminent Thoroughbred racing and leading pari-mutuel wagering company, has today announced a breakthrough partnership with France Galop, the governing body of French horse racing.

This new initiative sees both parties come together to form a series of high-class partnerships that will power increased international participation across a host of top-quality Graded contests and marquee race days, beginning with the $100,000 Grade 3 Gallorette Stakes on Preakness 149 race day at 1/ST’s Pimlico Race Course in Baltimore, Maryland on May 18. The winner will be automatically qualified to run in the €250,000 Group 1 Sumbe Prix Jean Romanet Stakes at Deauville on August 18. The Galorette winner will also receive a free equine travel stipend to cover its subsequent travel costs to France.

The collective aim is to establish long-lasting links between revered races in France and valuable turf contests at 1/ST racetracks across North America, boosting the international profile and prize funds of all participating contests and increasing the number of runners entered in these races which, in turn, will engage a wider international audience and drive global wagering turnover.

This innovative collaboration with France Galop leverages natural synergies between two powerhouses of the sport. Moreover, it builds on similar global “gateway” partnerships which 1/ST has already formed with Ascot Racecourse (via Gulfstream Park’s Royal Palm series for Royal Ascot’s juvenile races) and the UK Jockey Club around the Group 1 July Cup and the Eclipse Stakes, now twinned as qualifiers for the newly minted California Crown taking place at Santa Anita Park on September 28, marking California’s richest day of racing.

As an automatic qualifier for France Galop’s Prix Jean Romanet, the Gallorette Stakes also shines the spotlight on a high-profile undercard for Preakness 149. This year’s Preakness 149 race day will be the most lucrative in the event’s history with $3.3 million on the line, highlighted by the running of the 149th Preakness Stakes, the middle jewel in the Triple Crown, featuring an increased $2 million purse. These enhanced purses reflect 1/ST’s vision for the future of the highest standard of world-class Thoroughbred horse racing, combined with unique and elevated guest experiences, and exciting opportunities for owners, trainers and bettors to usher in a new era for racing.

Aidan Butler, President of 1/ST, said: “1/ST is thrilled to create another great global partnership, breaking new ground in France with our friends at France Galop. This Gallorette-Romanet pathway is an exciting trial for hopefully more reciprocal race days in France, considering France Galop’s rich heritage in staging many of the most prestigious turf contests in Europe at courses like Deauville, Chantilly and Longchamp.

“We look forward to announcing more global racing partnerships over the year ahead. Whether we’re bolstering the brand, increasing horse-recruitment numbers, or driving wagering dollars overseas, it’s high time for more innovative moments on the worldwide racing stage.”

Henri Pouret, Chief Operating Officer at France Galop, added: “We’re naturally delighted to be teaming up with 1/ST on this compelling initiative which will introduce many new French racing fans to Preakness 149 and add some welcome transatlantic flavour to the Group 1 Sumbe Prix Jean Romanet Stakes, now in its 20th year of attracting the best middle-distance horses in the business.

“The travel stipend is an excellent incentive for facilitating stress-free long-haul travel, helping to secure a stellar field of global contenders for the Romanet, and proving that racing is a sport whose worldwide appeal is no barrier to worldwide participation, be it in France or the States. We look forward to welcoming the Gallorette victor to Deauville later this summer and building on the success of US-trained horses at other elite European events, such as Royal Ascot.”

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Digital Asset Horse Racing Game Stables Appoints Lebnan Nader CEO And Unveils International Expansion Plan

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Stables, the Paris-based Web3 Equestrian Fantasy Game, has appointed venture capital veteran Lebnan Nader as Chief Executive Officer.

Lebnan Nader, who had founded and run several gaming and technology businesses, will oversee an international expansion as Stables seeks to add horses and attract owners from outside its French home market.

Launched in January 2023, Stables was born from an ambitious project funded by PMU, the European leader and number 3 worldwide in horse betting, alongside the startup studio 321. The game is designed to bring the excitement of horse racing into the digital realm by combining real data from actual racehorses with an online Web3 gaming experience where horses are represented as tradable non-fungible tokens.
“Stables brings together two of my favorite domains, video gaming and horse racing. Two sectors I’ve been involved in for the past 12 years. The game’s ambitions are high, and that’s what convinced me,” said Lebnan Nader, CEO of Stables. “The teams have done a tremendous job, and we will continue to develop the game, but my priority will be our community, as they are our greatest strength.”
A graduate of HEC Paris with nearly 20 years experience in strategy, product development, and market positioning in the digital sector, Lebnan co-founded an internationally acclaimed video and VR gaming studio, and also co-founded a software company for lottery and betting operators.

PMU’s initial gamble to reach a new audience has paid off as Stables now boasts a community of several thousand engaged players, aged 25 to 40 on average. The community is currently composed of 70% French players and 30% from the rest of the world.

The Stables teams are now expanding the gaming experience by adding new features that will allow any player, even without owning NFTs, to be able to explore Stables for free. A seasonal horse racing system with an in-game leaderboard will be introduced, as well as “The Paddock Gazette,” a feature allowing the analysis of all NFT data and comparing their performances.

The ability to interact with other players and access numerous new horses are among the features currently in development.
“In 2023, Stables succeeded in realizing PMU’s bold vision of diversifying the world of horse racing into Web3 and becoming today’s reference in equestrian fantasy gaming. Contributing alongside its historic partners to the financial support for an accelerated development of Stables represents for the Tezos Foundation a natural progression to the adoption of Tezos. Among other things, the Tezos Foundation always listens to the needs of management teams and economically engages in projects that have adopted its blockchain to be an active participant in their growth stages,” says Jean-Frédéric Mognetti, Executive Director of the Tezos Foundation.
“Convinced of the relevance of the project, it seemed important to involve new investors. We enthusiastically welcome the financial support of the Tezos Foundation, which strengthens a proven technical collaboration that the project has benefited from since its inception,” comments Emmanuelle Malecaze-Doublet, CEO of PMU.

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Latest News

SINGAPORE & UK TOTE COMMINGLE POOLS ON BRITISH RACING

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The UK Tote Group and Singapore Pools have signed a new agreement to commingle pools.

The agreement sees both organisations combine liquidity with customers of Singapore Pools betting into the UK Tote’s pools on British racing meetings. This creates bigger UK pools, ensuring a better customer experience for racing fans in the UK and in Singapore and an improved financial return to the sport.

The agreement was made in partnership with Arena Racing Company and Racecourse Media Group as the media rights holders for British racing’s 59 racecourses. Singapore Pools have been long-standing partners of British racing, hosting local pools on the sport. This collaboration between these stakeholders further deepens the relationship, benefiting racing fans and the sport.

Simon Leong, Chief Product Officer of Singapore Pools, expressed his enthusiasm for the new commingling arrangement with the UK Tote. He said, “We are delighted to collaborate with the UK Tote on this new front, which not only provides our customers access to larger pools but also contributes to British horseracing which have been telecasted in Singapore since 2010. We deeply appreciate our longstanding partnership with British racing and look forward to further strengthening the communal horseracing ties shared between us. Singapore Pools will continue to bring quality products from around the world to Singapore and elevate the racing experience for all.”

Jon Knapman, International Chief Commercial Officer of the UK Tote Group, said: “This is a really positive development and we’re pleased to have the opportunity to collaborate with colleagues at Singapore Pools to ensure bigger pools for all our customers. We will continue to cooperate and commingle with our international pool betting partners to ensure bigger, more unified pools on our racing. We’d like to thank all involved who contributed to this new agreement.”

Nick Mills, Chief Commercial Officer of RMG, said: “Singapore Pools have been a long-standing partner of British and Irish racing, having hosted local pools for over 15 years. This is a great example of British racing working together and we are delighted to work with all parties to facilitate commingling into the UKTG and therefore provide greater liquidity, which will see benefits to all.”

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