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Technavio: VR Gambling Market to Grow by USD 1.74 Billion

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Technavio’s latest market analysis report on the VR Gambling Market offers a comprehensive analysis on new product launches, the latest trends and the post-pandemic impact on businesses.

The VR gambling market potential growth difference will grow by USD 1.74 billion, as per the latest report by Technavio. The report also identifies the market to register an accelerating growth momentum at a CAGR of 53.13% during the forecast period.

Market Dynamics

The increased adoption of online gaming platforms has boosted the VR gambling market. The advent of online casinos is one of the key factors that will drive the adoption of VR technology in the online gambling segment. The online gambling segment has undergone certain advances in the last decade, including 3D graphics, live dealer casinos, and mobile gaming. VR is the next milestone in the evolution of internet gambling. In addition, other factors including an increase in esports betting and liberalisation of the regulatory framework will also boost the VR gambling market growth during the forecast period.

However, the high cost of VR headsets is one of the key factors that will curb the growth of the VR gambling market. The global VR headset market for gaming applications has progressed to the growth stage of the product lifecycle. However, the initial high cost of the device hinders its adoption. The vendors in the global VR headset market offer their products at high prices. The high cost of VR headsets will result in their low adoption among consumers. Furthermore, privacy concerns with regard to VR headsets and ban on gambling in many countries will also restrict the market growth during the forecast period.

Competitive Analysis

The competitive scenario provided in the VR gambling market report analyses, evaluates and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.

The VR gambling market report provides complete insights on key vendors including 888 Holdings Plc, Caesars Entertainment Corp., DraftKings Inc., Evolution Gaming Group, Golden Nugget, GVC Holdings Plc, Kindred Group Plc, Mr Green, SlotsMillion, William Hill Plc, and others. The VR gambling market is fragmented and the vendors are delivering numerous gaming options to compete in the market. Market vendors are focusing more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

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Announcing the Winners of the Baltic and Scandinavian Gaming Awards 2022

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The Baltic and Scandinavian Gaming Awards (BSG Awards) are once again back to celebrate outstanding businesses of the region in the Gambling industry. The BSG Awards 2022 recognized outstanding achievements in 28 categories, with final results decided by delegates of the MARE BALTICUM Gaming Summit brought to you by the #hipthers.

Launched in 2019, the BSG Awards is part of MARE BALTICUM Gaming Summit, the key event of the Baltic and Nordic region during springtime, organized by the Hipther Agency, which brings a wealth of information while also focusing on quality networking. Over the past years, the conference has toured the Baltic countries and is now going back to Vilnius, Lithuania.

The voting took place in 2 separate stages. The online voting stage determined the top 5 companies of each category with a total of 9178 votes. These companies entered the shortlists of the second voting stage, which took place in person on 12 May in Vilnius. Votes have been cast by a secret voting session at Radisson Blu Royal Astorija Hotel, Vilnius.

The Winners

The final winners in each category had been decided by the attending delegates of MARE BALTICUM Gaming Summit on 12 May in Vilnius by a secret voting session. Below are the winners of the BSG Awards in each category:

BALTIC Region

BEST ONLINE CASINO IN THE BALTICS 2022 (OPERATORS): PAF
BEST SPORTS BETTING OPERATOR IN THE BALTICS 2022 (OPERATORS) BETSAFE
BEST ESPORTS SERVICE PROVIDER IN THE BALTICS 2022 (B2B) ULTRAPLAY
BEST FANTASY SPORTS / VIRTUAL SPORTS PROVIDER IN THE BALTICS 2022 (B2B) BETCONSTRUCT
RISING STAR IN BALTIC FANTASY SPORTS / VIRTUAL SPORTS 2022 (B2B) DS VIRTUAL GAMING
RISING STAR IN BALTIC SPORTS BETTING TECHNOLOGY 2022 (B2B) IMG ARENA
BEST SPORTS BETTING PROVIDER IN THE BALTICS 2022 (B2B) ALTENAR
BEST ONLINE CASINO PROVIDER IN THE BALTICS 2022 (B2B) TOM HORN GAMING
BEST SLOTS PROVIDER IN THE BALTICS 2022 (B2B) WAZDAN
BEST LIVE CASINO PROVIDER IN THE BALTICS 2022 (B2B) BETGAMES
RISING STAR IN BALTIC ONLINE CASINO TECHNOLOGY 2022 (B2B) ENDORPHINA
BEST PAYMENT SERVICE PROVIDER IN THE BALTICS 2022 (CONNECTED) CONNECTPAY
BEST TESTING LABORATORY IN THE BALTICS 2022 (CONNECTED) BMM TESTLABS
BEST HOSTING PROVIDER IN THE BALTICS 2022 (CONNECTED) NETSHOP ISP

NORDIC Region

BEST ONLINE CASINO IN THE NORDICS 2022 (OPERATORS) BETWAY
BEST SPORTS BETTING OPERATOR IN THE NORDICS 2022 (OPERATORS) BETSSON
BEST ESPORTS SERVICE PROVIDER IN THE NORDICS 2022 (B2B) PANDASCORE
BEST FANTASY SPORTS / VIRTUAL SPORTS PROVIDER IN THE NORDICS 2022 (B2B) SCOUT GAMING GROUP
RISING STAR IN NORDIC FANTASY SPORTS / VIRTUAL SPORTS 2022 (B2B) KIRON INTERACTIVE
RISING STAR IN NORDIC SPORTS BETTING TECHNOLOGY 2022 (B2B) SIS
BEST SPORTS BETTING PROVIDER IN THE NORDICS 2022 (B2B) DIGITAIN
BEST ONLINE CASINO PROVIDER IN THE NORDICS 2022 (B2B) SOFTSWISS
RISING STAR IN NORDIC ONLINE CASINO TECHNOLOGY 2022 (B2B) WAZDAN
BEST SLOTS PROVIDER IN THE NORDICS 2022 (B2B) PLAY’N GO
BEST LIVE CASINO PROVIDER IN THE NORDICS 2022 (B2B) XPROGAMING
BEST PAYMENT SERVICE PROVIDER IN THE NORDICS 2022 (CONNECTED) TRUSTLY
BEST TESTING LABORATORY IN THE NORDICS 2022 (CONNECTED) GAMING LABORATORIES INTERNATIONAL (GLI)
BEST HOSTING PROVIDER IN THE NORDICS 2022 (CONNECTED) INTERNET VIKINGS
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Industry News

nanocosmos Joins The CDN Alliance as Founding Member

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Provider of B2B ultra-low live streaming platform and API nanocosmos joined the CDN Alliance as a founding member. With more than 20 years of experience in the audio/video industry and multiple innovations that nanocosmos has contributed to interactive live streaming, this marks an important milestone. The firm joined the initiative to support and bring forward the global CDN Industry and CDN Community.

The CDN Alliance is an independent nonprofit organization with the goal to connect, support, and represent the global CDN Industry, and CDN Community. The organization announced to dedicate its work to defining best practices and raising awareness about the CDN Industry. It aims to initiate and facilitate activities to work on global industry challenges e.g. availability, scalability, reliability, privacy, security, sustainability, interoperability, education, certification, regulations.

As a pioneer in the B2B interactive live streaming industry, nanocosmos will contribute the expertise of delivering ultra-low latency live streaming based on a combination of a self-managed CDN, browser-based player and advanced analytics. Oliver Lietz, CEO nanocosmos, shares his excitement about the news: “This is a great opportunity to have an overall touchpoint for the industry and, with concerted efforts, to create more awareness in the interest of the CDN Industry and CDN Community. We are thrilled to be part of the founding members and look forward to supporting this initiative with our partners”.

At the NAB Show 2022, nanocosmos announced the new release of nanoStream Cloud, which is the combination of a Global Network (CDN), Player and extended analytics. It not only reduces latency further to remain sub-second, but also takes it a step further and makes interactive live streaming about more than just latency. Their comprehensive approach integrates other elements that proved to be especially relevant during the time of increased virtual interaction like quality of service and thus the quality of experience for end users, data driven streaming and streaming protection.

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Baltics

Ezugi partners with OlyBet in the Baltic and EU regions

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Ezugi partners with OlyBet in the Baltic and EU regions
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Since becoming part of the Evolution Group in 2018, Ezugi has moved into new geographical markets, and continue to build its reputation as a bold and agile provider. Ezugi is delighted to announce that it has signed an exciting new agreement with OlyBet, the number one online gaming and sports betting brand in the Baltic States. This new partnership will not only see Ezugi providing Live Casino services in Latvia and EU markets, but also strengthening its footprint in Estonia and Lithuania.

OlyBet is the number one sports betting, online games and gambling brand in the Baltic States and has grown into a leading entertainment platform in Europe – predominantly in Estonia, Latvia and Lithuania. OlyBet creates content and offers entertainment through different platforms such as sports betting, esports, casino games and poker – all available in retail locations as well as online environments.

Ezugi ensures that players have immersive and realistic gaming experience, where integrity, sustainability, and fairness of the game is put to the higher standards. OlyBet players will be able to enjoy a wide and exciting variety of games – such as Andar Bahar, Casino Hold’em, Sic Bo, 32 Cards, Lucky 7 and several Baccarat variations – streamed live from Ezugi’s state-of-the-art studios.

Tomas Graham, Chief Performance Officer at OlyBet, said: “It’s important for OlyBet to provide the best choice of games and products and for us to continuously review and improve our game portfolio. This partnership with Ezugi helps us to provide our loyal customers with lots of new and exciting games and helps us to solidify our position as the number one multi-channel gaming operator across the Baltics.”

Pang Goh, Business Development Director at Ezugi, commented: “We are thrilled to start this new journey with OlyBet and are looking forward to the benefits that this partnership will bring. Not only will this agreement bring new and exciting experiences to the players in the Baltics and the EU, but it also strengthens our own position in these countries. Players are going to love this outstanding live gaming experience, along with a variety of new features and we look forward to seeing what the future holds.”

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