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Online Gambling Market to Touch USD 158.20 Billion by 2028; Soaring Popularity of Virtual Gaming Platforms to Catalyze Market Growth: Fortune Business Insights™

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2021 World Gaming Almanac: Coverage of 280+ International Gaming Jurisdictions, 7000 International Property Profiles and 700 Regulatory Agencies
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The global online gambling market size is projected to reach USD 158.20 billion by 2028, exhibiting a CAGR of 11.4% during the forecast period. This information is given by Fortune Business Insights™ in a new report, titled, “Online Gambling Market, 2021-2028.”  As per the report, the market was USD 66.72 billion in 2020.

Quick Adoption of Online Gambling amid COVID-19 to Boost the Market

The global health and economic crisis triggered by the COVID-19 pandemic forced governments in several countries to impose strict lockdowns and social distancing measures. Companies rapidly adopted remote working models, leading to huge portions of working populations working from home. With most non-essential services and places, including casinos, being closed down, gamers and gamblers have swiftly shifted to virtual platforms, boosting the online gambling market growth in the process. For example, an article published by New York University revealed that digital gambling platforms have gained speedy momentum in Canada after the coronavirus broke out. In Australia, according to a report by Concordia University, Canada, spending on online casinos rose sharply by 67% in April 2020. The coronavirus pandemic has, thus, proved favorable for this market, enabling it to register a healthy CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.

Market Segments

Based on type, the market has been classified into sports betting, casinos, poker, lottery, bingo, and others, with the lottery segment holding a share of 15.1% in the global market and a share of 15.4% in the UK market in 2020.

On the basis of devices, the market segments include desktop, mobile, and others. By region, the market has been divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Highlights of the Report

The report offers a granular examination of the various factors shaping the growth trajectory of the market, as well as a holistic analysis of the hindrances obstructing the market. Furthermore, a microscopic study of the regional and competitive dynamics influencing the market has also been provided in the report, along with an in-depth assessment of the individual market segments. The insights contained in the report are based on industry-leading research conducted through primary, secondary, and tertiary sources.

Driving Factor

Introduction of Sophisticated Technologies in Virtual Gambling to Fuel the Market

Advanced, intelligent technologies, such as artificial intelligence (AI) and blockchain, are being increasingly employed by online gambling platforms to ensure a secure and safe space for enthusiasts. Heralding this trend are startups that are developing and offering novel gambling platforms powered by smart technologies. For example, Edgeless, which was started in 2018, became the first Ethereum-based virtual casino that uses distributed ledger technology to ensure payouts. Similarly, Tombola is a popular lottery and gambling platform driven by cryptocurrency and other blockchain-enabled tools. Another example is the Canada-based startup, Quarter4, which leverages AI to offer simulations, content, and predictions for sports bettors. The incorporation of new-age solutions in digital gambling is, thus, opening new pathways of development for this market.

Regional Insights

Europe to Headline the Global Market, Forecasts Fortune Business Insights

Europe is expected to dictate the online gambling market share during the forecast period on account of the heavy investments being made by sports enthusiasts across the continent in online sports betting. Moreover, a healthy betting culture in Europe will further bolster the prospects of the market in the region. In 2020, the Europe market size stood at USD 30.92 billion.

The presence of secure connectivity infrastructure and strong gambling regulations will propel North America in the second-leading position in the market in terms of revenue generation. On the other hand, growing investments in online gambling in South America, driven by regulations in Colombia and Argentina, are anticipated to speed up the expansion of the market in this region.

Competitive Landscape

Key Players to Strengthen Businesses through Innovative Collaborations

With online gaming picking up pace amid the COVID-19 pandemic, key players in this market are entering into strategic collaborations with gambling industry giants to deepen their market footprint. These companies are engaging in developing innovative online gambling platforms to attract gamblers and gain momentum in this rapidly evolving market space.

Industry Developments:

  • December 2020: BetMGM launched the BetMGM Casino in Pennsylvania, with an aim to bring its online gambling portfolio to players in the state. The platform will offer sophisticated mobile casino games, which will be available on iOS, Android, and desktops.
  • February 2020: CBS Sports and William Hill inked a deal under which William Hill will become the exclusive provider of Wagering Data and Sports Book across all CBS Sports platforms. The partnership will integrate sports betting, media, and technology to enhance fan engagement.

List of Key Players Covered in this Market Report:

  • Slots Heaven Casino (Slots Heaven Casino)
  • Sky Betting & Gaming (Leeds, United Kingdom)
  • SPIN Casino (Canada)
  • DraftKings Inc. (Massachusetts, United States)
  • Betfred (Warrington, United Kingdom)
  • BetAmerica (California, United States)
  • LeoVegas AB (Stockholm, Sweden)
  • Betsson AB (Stockholm, Sweden)
  • StarsGroup.com (Ontario, Canada)
  • Kindred Group Plc. (Valletta, Malta)
  • Mansion Casino (Gibraltar)
  • Evolution Gaming AB (British Columbia, Canada)
  • Scientific Games Corporation (Nevada, United States)
  • Buffalo Partners (New York, United States)
  • bet-at-home.com AG (Germany)
  • 888 Holdings PLC (Gibraltar)
  • Bet365 (Stoke-on-Trent, United Kingdom)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • William Hill Plc. (London, United Kingdom)
  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)

eSports

LE MANS VIRTUAL SERIES BY MOTORSPORT GAMES GEARS UP FOR ROUND TWO ON OCTOBER 16, 2021

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LE MANS VIRTUAL SERIES BY MOTORSPORT GAMES GEARS UP FOR ROUND TWO ON OCTOBER 16, 2021
Reading Time: 2 minutes

 

After a thrilling 1ST round that saw more than 2.6 million impressions worldwide, the 2nd stage kicks off at 7:30 a.m. EDT on Saturday

Motorsport Games Inc. announced that after a thrilling 1st race, the stage is set for round 2 of the Le Mans Virtual Series, the 6 Hours of Spa Virtual, slated for October 16, 2021 at 07:30 a.m. EDT. Saturday’s race will feature 38 entries (entry list HERE). Le Mans Virtual Series is a joint venture between Motorsport Games — a leading racing game developer, publisher and esports ecosystem provider of official motorsport racing series throughout the world — and the Automobile Club de l’Ouest (“ACO”) — the creators and organizers of the world-famous 24 Hours of Le Mans and promoter of the FIA World Endurance Championship (the “FIA WEC”).

The 2021-22 season of the Le Mans Virtual Series consists of 5 rounds, the 2nd of which is the 6 Hours of Spa Virtual. The 38 prototype and grand touring endurance entries will compete virtually on the infamous 7 kilometer Belgian circuit, including famous corners and bends such as Eau Rouge, Raidillon, Stavelot and La Source. The live broadcast will feature lead commentary by FIA WEC’s Duncan Vincent, together with Chris McCarthy and Lewis McGlade.

Round 2 of the Le Mans Virtual Series comes on the heels of a successful 1st round that saw more than 2.6 million impressions worldwide and a thrilling victory from Realteam Hydrogen Redline. The 1st round of the esports endurance racing championship was an action-packed and incident-filled 4 Hours of Monza on September 25, 2021. Monza’s more than 2.6 million impressions on official channels during race week alone set the stage for a wildly successful series. Viewers can expect even more thrills and excitement for this coming round! Realteam Hydrogen Redline’s drivers Dani Juncadella, Jeffrey Rietveld and Michal Smidl took 1st place overall, while GPX Rebellion Esports and team Floyd Bykolles-Burst finished in 2nd and 3rd place, respectively. Mitchell Dejong, Mack Bakkum and Martin Kronke from the Porsche Esports Team took the Le Mans Grand Touring Endurance honors in a class that featured no fewer than 5 different manufacturers represented.

The Le Mans Virtual Series brings together top-level, real-life drivers such as Jenson Button, Alex Palou, Stoffel Vandoorne, Louis Deletraz and a number of the world’s other best sim racers to compete together in 5 endurance races that range from 4 to 24 hours in duration. This year’s series will conclude with the 24 Hours of Le Mans Virtual, which will take place live and televised at the Autosport International (“ASI”) show in Birmingham, UK in January 2022.

 

Here is where you can follow all of the weekend’s action, live and uninterrupted:

Friday, October 15, 2021: (all times Eastern Daylight Time)

1:00 p.m.                           Qualifying show live (not available on WEC or 24 Hours of Le Mans channels)

1:10 p.m.– 1:30 p.m.       Qualifying GTE

1:40 p.m.– 2:00 p.m.       Qualifying LMP

Saturday, October 16, 2021:

04:00 a.m.– 6:00 a.m.     Warm up

7:30 a.m.                           Le Mans Virtual Series show live

8:00 a.m.                           6 Hours of Spa – RACE

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eSports

The venue for the official Russian-language broadcast of PGL Major Stockholm 2021 is announced

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The venue for the official Russian-language broadcast of PGL Major Stockholm 2021 is announced
Reading Time: < 1 minute

 

The Russian-speaking talent crew will broadcast the tournament from the WePlay Esports studio.

WePlay Esports will be the official Russian-speaking streamer of the tournament, in a deal brokered by IMG on behalf of PGL. The talent team and broadcasting studio will be working from the WePlay Esports studio.

WePlay Esports has experience in organizing analytics studios in-house: BLAST Premier: Fall Season 2021, the WePlay Academy League, WePlay! Clutch Island etc. are cases in point. The broadcast will be organized in accordance with the standards and best traditions of the company, matching the visual identity of the English-language broadcast from PGL. The studio is equipped with the latest technology, and the company is in the final stages of preparation for the broadcast, adding finishing touches to the graphics, augmented reality (AR) elements, and content.

“We are ready for any kind of challenge, even for broadcasting several tournaments from different venues simultaneously. Our studio and arena in Kyiv, Ukraine, and the arena in Los Angeles, the U.S., which will be opened soon, allow us to create high-quality engaging content, which the esports community appreciates a lot.I can say with confidence that the quality of the broadcast, its content, and the set-up will be on par with the level of the Major,” comments Maksym Bilonogov, chief visionary officer and general producer at WePlay Esports.

The main tournament of this year in Counter-Strike: Global Offensive (CS:GO), the PGL Major Stockholm 2021, will take place from October 26 to November 7. The PGL Major Stockholm 2021 will be the first CS:GO Major after a two-year break due to the pandemic. The total prize pool of the tournament is $2 million.

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Latest News

BGaming upgraded Dig Dig Digger slot with new features!

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BGaming upgraded Dig Dig Digger slot with new features!
Reading Time: 2 minutes

 

BGaming continues improving its popular titles by adding new extra features! So, the Dig Dig Digger slot now offers players the opportunity to buy a bonus and double the chances!

In addition to the set of standard features, the new Buy Bonus feature allows players to start a Free spin round with Expanding symbols immediately. To make it more captivating, BGaming gives exclusive opportunity to choose the number of Expanding symbols they want: from 1 to 9! The other game’s novelty is Chance x2 feature that increases the bet and gives the player more chances to play bonus games. These two new bonuses cannot be used at the same time, however, each of them provides many opportunities for great winnings!

From release to release we analyze players’ preferences, and we see that it’s always a good idea to give players the opportunity to choose extra bonuses. We have already added buy bonus and double chance feature to Aloha King Elvis slot. We received great results! Our next step was to upgrade Dig Dig Digger. The slot which was launched in May shows good feedback from players!” noted Katherine Puteiko, CS Marketing Manager at BGaming. 

With HD graphics and a 5×3 scheme, Dig Dig Digger has a popular “book of” mechanics. Moreover, the charismatic and hilarious archeologist – the main character – сompletes spins with jokes and funny moments! By the way, every player can try on the role of the charming archaeologist on Instagram too. BGaming studio has prepared a Dig Dig Digger’s Instagram mask that you can find by searching for the name of the game or by following the link

Inspired by the story of funny Digger, BGaming team is going to launch the sequel of the slot. The release date of the new adventure will be announced later. 

 

BGaming is a creative and forward-thinking game provider converting gaming 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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