Industry News
Casinos Market to Grow with Sustainable CAGR During 2022
According to reports, the global online gambling market size will grow to about $172 billion by 2030. This growth represents a CAGR of 11.6% in the same period. You can attribute this growth to the fact that online gambling has been arguably the fastest growing industry globally in the last decade. Millions of gamblers log into various platforms to gamble daily. Consequently, the revenues the operators generate are massive and boost the worldwide online gambling market.
Factors behind the sustainable CAGR in 2022
Smartphone penetration
Mobile gambling is emerging as the most preferred gambling mode globally. Even though it faces restrictions alongside online gambling in some regions, the mobile gambling market is projected to keep growing in 2022. Gambling regulators’ reports confirm that mobile gambling is prevalent among younger players.
In this regard, many online casino operators have developed mobile apps and mobile-optimized websites to cater to mobile gamblers’ needs. People who enjoy Joe Fortune’s online blackjack games want to be able to access the games on their mobile devices. Such demands by users are what have also inspired game developers to create online casino games using a mobile-first approach.
In addition, mobile payment methods like Pay by Phone, Apple Pay, and others have also contributed to the industry’s growth. These payment methods have shortened deposit and withdrawal times, encouraging more people to wager online.
Sports Betting
Nowadays, most online casinos include a sports betting section. This approach has helped to boost their revenues massively. For instance, industry experts claim that the sports betting industry is projected to grow to around $139 billion by 2028. This growth is a CAGR of over 10% in the same period. Live sports action is now available daily, meaning bettors have events to wager on every day.
Besides that, there is a World Cup year, and soccer is the most wagered sport globally. As a result, online casinos running sports betting sections will have plenty of markets to offer their members. On the other hand, casinos no longer depend on live sports action, thanks to the growth of eSports which makes the options even more.
Other sports that have also become popular among bettors are basketball, tennis, American football, and horse racing. With all these sports having significant events this year, you should expect sports betting activities to hit an all-time high this year. Also sponsorship deals between casinos and sports entities will also boost casinos visibility globally.
Market Segmentation
You can divide the global gambling market into three categories using type, device, and region.
- Type: the online gambling market is divided into five primary types: casinos, sports betting, bingo, poker, and others. Based on studies, the sports betting section is anticipated to lead the market in 2022. In addition, the online casino segment is also expected to make substantial achievements in the course of the year.
- Device: the device segment is divided into desktop, mobile, and others. The desktop segment generated considerable online gambling activity in 2021 because people enjoyed larger screens that offer better visibility. Be that as it may, mobile gambling is still expected to grow massively in the coming days due to smartphone penetration.
Regional outlook
The global gambling market is classified into the following regions:
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
Europe is the leading region in online gambling activities. In addition, experts expect the region’s online gambling activities to soar in 2022. Their top spot is mainly because of the growing sports industry in the region and the ease of online casino regulations. In addition, many leading online gambling operators are in the region.
On the flip side, the Asia-Pacific region is projected to register the fastest growth between 2022 and 2030. Experts attribute the rapid growth to the increased smartphone penetration in China and India. Also, rapid urbanization and increased internet penetration are contributing factors. Other observers also attribute the growth to the increasing adoption of cryptocurrency in online gambling to have positively affected the Asian-Pacific online gambling market.
Final Thoughts
The casinos market is one of the most lucrative industries globally. However, it is also very competitive, meaning operators must offer the best products and services to remain competitive. This competition has come as a blessing in disguise to the gamblers as they get to enjoy top-drawer services. As more gamblers join the online gambling community, you should expect to see the industry growing at unprecedented rates in 2022.
Industry News
ICE Barcelona to deliver razor-sharp focus on LatAm and evolving Brazilian Market
January’s first edition of ICE Barcelona will feature a programme of content, discussions and C-suite networking curated specifically to meet the needs of the new regulated market in Brazil and the broader opportunities which exist in Latin America.
Living up to its reputation for being the business-to-business event which is at the forefront of industry developments across both regulation and emerging technologies ICE 2025 will feature a three day program which is dedicated to all aspects of the market in Brazil including regulation, compliance and the adoption of new technologies including the use of biometric recognition in relation to age verification and consumer protection.
Announcing the program and confirming ICE Barcelona’s role as the meeting place for international decision-makers and stakeholders, Clarion Gaming Managing Director Stuart Hunter said: “ICE was recently described in trade media as being the most important gaming event on the ‘planet’ and I believe that the show will live-up to that accolade when we welcome the world industry to our new Barcelona home in January.
“Some industry events place a strong emphasis on the past but for ICE our focus is unashamedly on the future. To this end we have been working closely with colleagues and stakeholders in Latin America to ensure that ICE is on the front foot bringing together the lawmakers, regulatory bodies, thought leaders, operators, innovators and technology providers all of whom have an important role to play in developing the market infrastructure.”
He added: “The importance of LatAm will be evident from the very start of ICE Barcelona when Vicente Fox, the former President of Mexicoheadlines the World Regulatory Briefing taking place Monday 20 January when he will address the topic of ‘Regulation and Revitalisation’ and the requirements needed to balance economic growth with community protection.
“A critic of the populist movements sweeping the region, he will outline his business-centric approach to the development of Mexico, and why he favours casinos as a tax benefit to reduce Mexico’s dependence on unpredictable oil income, and for heling to grow the local tourism industry. The keynote reflects the importance of Latin America as a leading voice in the global gambling industry and represents a major coup for ICE Barcelona.”
“The following day we will be staging a seminar which will cover the very latest business-critical information on the market in Brazil which will be supplemented by sessions focussed on Latin America. On the closing day the LatAm sessions will address the key issue of responsible gambling including the ground-breaking use of biometrics which will be of huge interest to regulators and operators from throughout the world.”
He concluded: “In all of the extensive research that we undertake in order to identify the most important issues impacting the business Brazil and Latin America consistently top the list. By attending ICE Barcelona gaming industry professionals will be able to connect with the main players, learn everything they need to know about doing business in Latin America and find the right organisations to collaborate with. For anyone with an interest in Latin America and in particular the Brazilian iGaming market ICE Barcelona is undoubtedly the place to be.”
For more information on the world’s greatest gathering of gaming professionals and to register: icegaming.com
Industry News
FDJ Announces its First Bond Issue
La Française des Jeux (FDJ), one of Europe’s leading betting and gaming operators, will meet investors over the next days with a view to launching its first bond issue, subject to market conditions.
FDJ recall that, on 7 November, Moody’s assigned the Group a long-term credit rating of Baa1 – stable outlook.
With a total value of €1.5 billion, in 3 tranches with maturity of 6, 9 and 12 years, the bond issue would be used to refinance most of the €2 billion bridging loan, drawn on 7 October to finance the acquisition of Kindred shares for nearly €2.5 billion. The bonds will be listed on the Euronext regulated market in Paris.
Furthermore, FDJ is finalising a €400 million syndicated loan with top-tier French and international banks, which will be repaid over 5 years. This financing is also intended to repay the bridging loan which will be settled with Group’s cash.
Balkans
CT Interactive Shortlisted in Two Categories at BEGE Awards 2024
CT Interactive has announced that it was shortlisted in two categories for the upcoming prestigious BEGE Awards 2024. The company has been recognised for its exceptional contributions to the online gaming industry by being among the finalists for Online Game of the Year for the innovative and engaging game Doctor Winstein Buy Bonus and Online Provider of the Year.
The BEGE Awards, which celebrate excellence and innovation in the gaming and entertainment industry, will be held on November 27, 2024, at the Club Black & White in the Grand Hotel Millennium, Sofia.
This year’s nominations reflect CT Interactive’s dedication to creating top-tier gaming experiences and its continuous efforts to push boundaries in the online gaming world.
“Being recognised in these two categories is a testament to the hard work and creativity of our entire team. We are thrilled to be among the industry’s finest at the BEGE Awards once again,” said Monika Zlateva, CCO at CT Interactive.
-
Asia6 days ago
Hong Kong Construction Titan Turned Macau Casino Boss Lui Che-Woo Dies Aged 95
-
Africa7 days ago
SunBet Extends Online Betting Platform Contract with Bede Gaming Amid Record-Breaking Performance
-
Africa7 days ago
Booming Games Partners with Hollywoodbets to Launch Immersive Slots Games in South Africa
-
Australia7 days ago
Vanguard Overwatch is Hardening Gaming Venues Against Financial Crime and Working Towards Minimising Gambling Harm
-
Industry News7 days ago
BC.GAME Launches Exclusive Airdrop for Polymarket Users, Rewarding Participation in U.S. Election Prediction Markets
-
eSports7 days ago
Intel commits to developing young talent in universities from the UK and Ireland through UNIVERSITY Esports
-
Asia6 days ago
Making Indian Presence Felt: Natural8 India gears up to take a contingent of nine winners of its latest India Exclusive to Asian Poker Tour (APT) Phu Quoc!
-
Asia7 days ago
Key milestone achieved as GiG enters Asia via agreement with Filipino land-based casino group