The “Online Gambling Market – Growth, Trends, and Forecasts (2023-2028)” report has been added to ResearchAndMarkets’s offering.
The Online Gambling Market is projected to record a CAGR of 11.49% over the next five years.
There has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which may positively impact the growth of the market studied. The increased penetration of smartphones is leading to an increase in several mobile application-based lottery games.
The end-user has the convenience and comfort of gambling within the comfort of their own space, which is one of the major drivers of the segment. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience.
With the advent of technology, virtual reality, blockchain, and mobile platforms have been widely implemented in the gambling industry worldwide. Owing to this factor, the vendors are utilizing software suppliers, such as NetEntand Evolution Gaming, to integrate and develop the gaming experience of consumers.
Furthermore, various companies are concentrating on advancing innovative platforms to cater to several requirements and needs of customers to achieve a competitive edge in the market. For instance, in 2021, Entain PLC declared the launch of Gambling Responsibly America in the United States, a dedicated gaming app.
This app has a tool to assist and support consumers. It also has educational resources to help consumers if they face any gambling issues. The above-mentioned factors are expected to benefit the market positively.
Online Gambling Market Trends
Various Sponsorships and Convenient Payment Options Driving the Market
The rising adoption of mobile and online payment gateways made payment options convenient for consumers and online players. Online payment provides a safe and secure mode of transaction, which is accepted by the online gaming industry. This factor is boosting the growth of the online gambling market.
The online betting segment is predominantly rising with the online sports category, especially in football events, such as the FIFA World Cup and the European championships. Many online sports betting companies are sponsoring different teams as a part of their marketing initiatives by acquiring or merging with several companies for strategic expansions.
North America Remains the Fastest-growing Region
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated.
Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. There are various types of online casinos, sportsbooks, and online sports betting apps live in New Jersey. New Jersey’s Division of Gaming Enforcement oversees and regulates New Jersey’s online gaming sites. It handles site licensing, tax revenue collection, and game testing and approval.
New Jersey is currently the largest market for regulated online gambling in the United States. Canada is largely an unregulated country in terms of online gaming. At the same time, Mexico is reviewing its gambling laws intending to regulate the online gambling sector to align with the rest of the nation’s gambling industry.
Therefore, the increasing regularization of online gambling in the North American countries and their respective states is expected to drive the market further.
Online Gambling Market Competitor Analysis
The casino gambling market is highly fragmented and comprises regional and global players. Key players like Bet365, Entain PLC, Flutter Entertainment PLC, and Kindred Group PLC dominate the market.
Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market and enhance their brand portfolio to cater to consumer preferences. Merger and acquisition is the most preferred strategy in the online gambling market, followed by expansion.
Key players compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to various platforms. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.
Key Topics Covered:
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Game Type
5.1.1 Sports Betting
126.96.36.199 Horse Racing
188.8.131.52 Other Sports
184.108.40.206 Live Casino
220.127.116.11 Others Casino Games
5.2 End User
6 COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Betsson AB
6.3.2 888 Holdings PLC
6.3.3 Sport Pesa
6.3.4 Kindred Group PLC
6.3.5 Entain PLC
6.3.6 William Hill PLC
6.3.8 LeoVegas AB
6.3.9 Flutter Entertainment PLC
6.3.10 1X Corp. NV
Entain Provides Update on Current Trading and FY23 Guidance
Entain plc has provided an update on current trading and FY 2023 guidance, as well as plans to update shareholders on the progress of ongoing actions to accelerate operational performance and drive shareholder value.
Post the summer, Online Net Gaming Revenue (NGR) has been mixed across the Group, but in aggregate, softer than anticipated. Q3 Online NGR growth is now expected to be up high single-digit percent, and down high single digit percent on a proforma basis. Key drivers include:
- Adverse sporting results impacting sports margins during September
- Group wide implementation of industry leading safer gambling measures and ongoing regulatory headwinds persisting longer than expected, particularly in the UK
- Slower growth than expected in Australia and Italy
- Good underlying Online growth (ex-regulatory impacts) as evidenced by further strong proforma growth in active customers across the quarter
- Strong performance from recent acquisitions, particularly SuperSport in Croatia
- Robust performance across Retail
BetMGM in the US continuing to perform well: on track to deliver positive EBITDA in the second half of 2023; FY2023 NGR at the upper end of $1.8-$2.0bn guidance; and the successful rollout of Single Account Single Wallet, as well as online sportsbook enhancements supporting strong start to the NFL season.
Entain now expect Group Online NGR for FY2023 to be up low double-digit percent with proforma NGR down low single digit percent. The company reiterate their expectations for FY2023 EBITDA to be in the range of £1.00bn-£1.05bn supported by robust operational controls.
Actions to Accelerate Operational Strategy and Performance
Over the last three years Entain has undergone a significant strategic transformation, improving the quality of earnings and aligning operations to ensure the Group is positioned as strongly as possible to deliver long term shareholder value.
Alongside the Q3 trading update on 2 November 2023, management will share more detail on how these actions are being implemented to accelerate performance and delivery, including:
- A comprehensive market review focusing on long-term sustainable organic growth
- The simplification of Group structures and operations to improve operational leverage and reduce costs
- A plan for the migration of acquired businesses on to the Group’s industry leading technology platform
- Optimising our capital allocation priorities
- Progress on delivery of the Group’s Online EBITDA margin target of 30%
Jette Nygaard-Andersen, CEO of Entain, said: “We continue to see good underlying growth in our online business and are reiterating our EBITDA guidance for the year despite softer than expected revenue growth in Q3 and the ongoing roll-out of industry-leading safer gambling measures. We continue to attract more customers than ever before to enjoy our products and services. BetMGM remains on track to deliver positive EBITDA in H2 and a full year NGR performance at the top end of our expectations, and we are particularly excited about the product improvements that we are rolling out over the NFL season.
“We have made significant changes to the Group over the last three years. Our focus now is on accelerating the actions we are taking to drive sustainable organic growth, expand our margins, capitalise on the US opportunity and deliver long-term returns for our shareholders. We remain confident in our ability to deliver on the vast opportunities ahead of us, and look forward to sharing more detail about the changes that we are making alongside our Q3 trading update in November.”
Holland Casino Identifies New Groningen Casino Site
Holland Casino has chosen Business Park Ter Borch as the new location for its Groningen casino. Holland Casino selected the location at the gateway to Groningen for its accessibility and construction opportunities. Business park Ter Borch, on the edge of the municipality of Tynaarlo, offers Holland Casino the best opportunities to build a casino that meets the company’s architectural and sustainability requirements. Moreover, the location at the gateway to Groningen is easily accessible for guests and there is ample parking.
CEO Petra de Ruiter said: “We are happy that the decision has now been made. If the Tynaarlo municipal council is as enthusiastic as the board of Holland Casino, we can enter the period of planning and construction. I’m looking forward to that and especially to the moment when the new Holland Casino Groningen is open. That is not only good news for our guests, but also for our employees.
“They will soon be able to optimally welcome guests from a new building and offer the hospitality that can be expected from us.”
Spatial planning councilor Jurryt Vellinga of the municipality of Tynaarlo said: “The location makes sense because of the good accessibility and the space that the business park offers. For us it is a sign that the municipality of Tynaarlo and the region are still popular for companies. This location offers employment opportunities and is a great boost for tourism in our municipality.”
Attention has also been paid to the former Holland Casino location on Gedempte Kattendiep in Groningen. The casino was destroyed in a fire in 2017, with Holland Casino operating a temporary facility since 2018.
“Holland Casino offers the municipality of Groningen every cooperation to ensure that something beautiful comes back to the city center. We are grateful to everyone involved for all the cooperation and support we have received in recent years. We are very grateful to Groningen and Tynaarlo for the efforts made to find a suitable location,” Ms. de Ruiter said.
The new branch of Holland Casino, Holland Casino Groningen, is expected to open in 2027.
Maria’s Room Rebrands into Maria Ozawa Casino, Marking Third Year Anniversary Partnership with M88 Mansion
Renowned international celebrity and businesswoman, Maria Ozawa, is commemorating a significant milestone in her partnership with Asia’s leading online gaming platform, M88 Mansion, as she celebrates her third year as Celebrity Partner.
A highlight of this celebration is the transformation of “Maria’s Room” into “Maria Ozawa Casino,” showcasing her growing influence within the M88 Mansion community and promising an enhanced and thrilling gaming experience for players, with Maria’s personal touch. The rebranding reflects Maria’s lasting impact and the exciting evolution of this partnership over the past three years.
Alan Wafer, Head of Commercial at M88 Mansion, said: “Maria Ozawa has been an integral part of the M88 Mansion family for three incredible years.”
Maria Ozawa said: “Being a part of M88 Mansion has been an amazing experience. I’m thrilled to see Maria Ozawa Casino succeed, as we offer players an enhanced gaming experience. It’s been a fantastic three years, and I can’t wait to see what the future holds.”
In line with her ongoing collaboration with M88 Mansion, Maria Ozawa will participate in the upcoming M88 Mansion-sponsored event, IT’S THE SHIP, Asia’s Largest Festival at Sea, from November 1-3, 2023, enhancing the event with her star presence.
Beyond the virtual realm, Maria Ozawa’s role as a Celebrity Partner extends to a tour across several countries, accompanied by press conferences, allowing the public and media to connect with her.
Maria Ozawa’s three-year journey with M88 Mansion has seen exceptional growth and collaboration. With the transformation of Maria’s Room into Maria Ozawa Casino and her engagement with players, the future of this partnership looks promising.
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