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Online Gambling Software Market Worth USD 158.20 Billion in 2028 | Fortune Business Insights

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The global online gambling software market size is expected to gain momentum by reaching USD 158.20 billion by 2028 while exhibiting a stellar CAGR of 11.4% between 2022 to 2028. In its report titled “Online Gambling Software Market Forecast [2022 – 2028]” Fortune Business Insights mentions that the market size stood at USD 66.72 billion in 2020.

Industry Developments:

December 2020 – GVC Holdings Plc. partnered with MGM Resorts International to launch an online BetMGM Casino in Pennsylvania. The company offers 140 types of online gambling games for android and iOS users.

The increasing demand for smartphones, advancements in internet technology, and rising spending power of users are a few of the factors that contribute towards the market growth of digital gambling. The online gambling software providers are heavily investing and partnering in advanced technologies to enhance the customer experience, which will boost the interest of players. For instance, In September 2020, William Hill Plc. made a partnership with CBS Sports. After their collaboration, the company announced the launch of a wide range of digital content. Few of their offerings for sports bettors and fans are free-to-play games, video programming, and editorial content of William Hill across the CBS Sports Digital landscape.

The outbreak of the coronavirus has affected the global economy adversely. Due to lockdown, land-based gambling arenas were affected severely. The restrictions on public transportation, tourism, and public gatherings, impacted the off-line gambling industry. However, it helped in the dramatic rise in the demand for internet-based gambling. The temporary closure of colleges and the increasing adoption of work from home policies are expected to drive the market. For instance, according to a report published by AlphaBeta Australia, Australia experienced a 67% increase in online betting in April 2020.

What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers and restraints that are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborations to contribute to the market growth.

Driving Factor

Ease of Online Payment to Drive Online gambling software Market Growth

The increasing adoption of digital payments has made it easier for users and online gambling players. Moreover, using online methods of payment facilities offer a secure and safe mode of transaction, which is boosting this market; therefore, companies are trying to come up with efficient payment methods to attract more games.  For instance, in January 2021, William Hill Plc partnered with Chippewa Indians and Grand Traverse Band of Ottawa to develop its own online and mobile casino app and sportsbook. The app also promises to offer a secure and quick registration process and a wide selection of options to withdraw and deposit funds.

Regional Insights 

Europe to Dominate Backed by Presence of Prominent Players

Europe is expected to remain at the forefront and hold the largest position in the market during the forecast period owing to the presence of prominent market players.  Additionally, the rich sports history of Europe and the widespread presence of sports-obsessed fans in the region are together propelling the regional market. The region’s market stood at USD 30.92 billion in 2020.

North America is expected to showcase significant online gambling software market share in upcoming years, owing to the increasing digitalization in the region. Moreover, in the U.S., three states, namely, Nevada, Pennsylvania, and New Jersey, have gambling regulations, which are driving sportsbook and betting apps demand.

Market Segmentation:

By type, the market is divided into sports betting, casinos, poker, lottery, bingo, and others. By devices, it is fragmented into desktop, mobile, and others.

Based on type, the lottery segment held a market share of 15.1% in 2020. This is attributable to increasing interest in draw-based games among players.

Lastly, in terms of geography, the market is divided into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

Competitive Landscape

Key Players to Focus on New Application Launches to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development

List of Key Players Mentioned in the Report:

  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
  • Kindred Group Plc. (Valletta, Malta)
  • William Hill Plc. (London, U.K.)
  • StarsGroup.com (Ontario, Canada)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • Betsson AB (Stockholm, Sweden)
  • Bet365 Group (Stoke-on-Trent, U.K.)
  • LeoVegas AB (Stockholm, Sweden)
  • 888 Holdings PLC (Gibraltar)
  • BetAmerica (California,U.S.)

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
  • Global Online Gambling Software Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
  • Recent Developments

Gaming

Application Start for Gamecity Hamburg Prototype Funding on March 7 – 400,000 Euros for Games from Hamburg and New Diversity Checklist

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“In the context of paused federal funding, we are pleased to reliably support game developers in Hamburg once again with up to 400,000 euros with the Prototype Funding 2024. In this funding round, we’re adding a diversity checklist to our application documents to encourage our applicants to examine their own structures and processes while developing. Games are the leading medium of our time and can showcase diverse voices, perspectives, and stories,” comments Dennis Schoubye, Head of Gamecity Hamburg.

Starting this year, answering the diversity checklist is mandatory when applying for Prototype Funding. Applicants’ answers can optionally be used by the awarding committee when evaluating projects. Applicants whose team and/or project enriches the diversity of Hamburg’s games landscape can receive a bonus in the evaluation by the awarding committee. On the contrary, applicants are not disadvantaged in the evaluation process if that is not the case for their team and/or project. The awarding committee consists of Nina Müller (Head of Publishing, Goodgame Studios), Jonas Hüsges (Publishing Director, Daedalic Entertainment), Valentina Birke (Director, Indie Arena Booth), Jens Unrau (Head of the Media and Digital Economy Department of the Hamburg Ministry of Culture and Media) and Dennis Schoubye (Head of Gamecity Hamburg). They will decide on the granted funding after the end of the application phase on the basis of the submitted projects and a subsequent pitch by the applicants.

The Application Process

Eligible to apply for Prototype Funding are: 

  • developers and developer groups
  • or small and medium-sized enterprises (SMEs), 
  • who are based in Hamburg
  • or which relocate their registered office to Hamburg
  • or open a branch office/business location in Hamburg

 A consultation with Gamecity Hamburg is mandatory and is recommended at least two weeks before the submission deadline on April 8, to prepare applicants optimally for their submission. Interested parties please contact [email protected] to arrange an appointment.

Projects funded through the Prototype Funding program

Since the start of the first funding round in 2020, the Prototype Funding has so far supported 26 games projects with more than 1,450,000 euros. Among the funding recipients are, for example, the indie studio Tiny Roar, which received prototype funding in 2022 for its dreamlike world-builder game “Wanderful”. The serious game “Mambio” by neurodactics, an educational game to make arithmetic understandable for primary school children, received the Prototype Funding in 2021 and was able to secure over 1,100,000 million euros in additional federal computer games funding in 2022. The virtual reality game “Crumbling”, in which your own controller becomes an action figure, was part of the first prototype funding round as well and found a strong partner alongside investors in Meta. Crumbling celebrated its successful release in February 2024.

Further funding programs for Hamburg games industry by Gamecity Hamburg

Every year, the Games Lift Incubator supports five teams, developers and start-ups in the development of digital games and projects. In addition to 15,000 euros in start-up funding, the recipients receive a comprehensive coaching and mentoring program featuring international experts as well as workshops and subsequent individual support. The application phase for this year’s Games Lift runs from May 2 to June 10, 2024.

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Gaming

The 2024 BAFTA Games Nominations Host and Panel have been announced!

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BAFTA’s team of panellists will announce and discuss the nominations live, give their opinions on the outstanding games we’ve seen from the industry in 2023 and recognise the creative talent who made them.

Lucy James said: “I’m so excited to be returning to host the BAFTA Games Awards nominations stream for the 2024 Games Awards. BAFTA’s commitment to uplifting and celebrating the people who make the games we love is an incredibly important endeavour: now more than ever. 2023 will go down in history as one of the greatest years for video game releases ever, but also for being one of the worst for the industry. Sadly, 2024 looks to be continuing this trend with multiple project cancellations, studio closures, and mass layoffs. It’s important for us to take a moment to band together to recognise the contributions and achievements of our hard-working and talented peers.”

Luke Hebblethwaite, Head of Games at BAFTA, said: “We’re hugely excited to be revealing the nominees for this year’s BAFTA Games Awards and couldn’t be happier than to have five such energetic and knowledgeable voices to lead us through the big moment. I’m looking forward to their lively and insightful reactions and a great conversation as we celebrate the amazing talent, creativity and hard work behind the best games of the year.”

The world’s most prestigious annual celebration of excellence and creative achievement in games, the 20th BAFTA Games Awards, will take place on Thursday 11 April at the Queen Elizabeth Hall, Southbank Centre, London and will be livestreamed on BAFTA’s YouTube, Twitch and X channels at 19.00 BST / 14.00 ET / 11.00 PT.

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Latest News

Sportradar publishes third annual integrity report

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Sportradar Integrity Services, a unit of Sportradar (NASDAQ: SRAD), today published its annual report, ‘Betting Corruption and Match-fixing in 2023’, detailing the company’s findings into suspicious betting on global sport. Based on the monitoring of approximately 850,000 events and matches across 70 sports, the report highlights a total of 1,329 suspicious matches in 2023, occurring in 11 sports in 105 countries.

Compared to 2022, the data indicates the suspected manipulation rate in all sports remained steady at 0.21%, or one in every 467 matches in 2023. Similarly, the analysis has marked no single sport having a suspicious match ratio greater than 1%, confirming that 99.5% of sporting events monitored had no suspicious betting detected.

Artificial Intelligence (AI) assisted in detecting almost three quarters (73% or 977 instances) of all suspicious matches in 2023, representing a 123% increase when compared to 2022. While AI integration into Sportradar’s Universal Fraud Detection System (UFDS) has boosted detection rates, analysis by our integrity experts is essential to ensure accurate interpretation of data. Sportradar is committed to advancing both AI capabilities and human oversight to protect the integrity of sports.

Key findings in 2023:

· As the world’s most popular sport for betting, soccer continued to be the most affected by match fixing with 880 suspicious matches, followed by basketball with 205 matches, then table tennis with 70 matches.

· Account-level betting data was used to detect 85% of suspicious matches in volleyball, and 100% of suspicious matches in tennis and table tennis, underscoring the importance of collaborating closely with the sports betting industry to combat match-fixing and integrity threats.

· Europe had the highest number of suspicious matches (667 vs 630 in 2022), followed by Asia (302 vs 240 in 2022) and South America (217 vs 225 in 2022).

· 1,295 suspicious matches came from men’s sporting events, while 34 came from women’s sporting events.

Data and reporting from Sportradar Integrity Services last year contributed to a total of 147 sporting and criminal sanctions, spanning 10 sports in 23 countries across 39 cases, underlining the company’s credentials as the established market leader in integrity services. By supporting over 220 partners globally including sports organisations, state authorities, national platforms and law enforcement agencies, Sportradar is committed to keeping sport clean from threats such as match-fixing, doping and other forms of fraud and corruption.

Andreas Krannich, EVP, Integrity, Rights Protection and Regulatory Services, said: “Continued investment in the development of technology is key to detecting otherwise hard-to-find occurrences of match-fixing. In combination with access to account-level data, collaboration across the industry and human experts, we have a suite of powerful tools to help both prevent and detect risks to sports integrity. Further advancements in the fight against match-fixing will be possible as the AI models continue to learn and we will keep honing our expertise to protect sport from manipulation.”

Sportradar takes a holistic, multi-faceted approach to match-fixing detection, powered by its market-leading technology and expert Integrity Services unit. As well as account-level data, the UFDS analyses 30 billion odds changes across 600 global betting operators in real-time and uses advanced AI to detect and flag suspicious matches to Sportradar’s global team of integrity analysts. Supporting this effort is also the Sportradar Integrity Exchange (SIE), where more than 70 betting operators proactively submit suspicious betting information, using account-level betting data to detect and flag suspicious matches.

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