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Online Gambling and Betting business to touch US$96.89 billion by 2024 – TMR

Niji Narayan



Reading Time: 3 minutes

In what could be resounding thumbs up for the betting industry, a new survey revealed that the industry could be soaring in the coming years. According to a research report released by Transparency Market Research, the overall competitive landscape in the global online gambling and betting market will witness further growth with more mergers and acquisitions.

Furthermore, the policies and regulations surrounding online gambling and betting are also highly stringent in several regions, leaving little scope of growth for new entrants. The global online gambling and betting market is expected to reach US$96.89 bn by 2024. The market is projected to expand at a CAGR of 10.8 per cent from 2016 to 2024, and is expected to reach US$42.63 bn by the end of 2016.

Online Gambling and Betting Companies Counting on Growing Scope of Smartphone Gaming

There is a clear increase in the number of consumer electronics being used by the day in all countries and across all economic levels. The growing number of consumers using smartphones, tablets, and other portable electronic media and entertainment devices are currently a high priority demographic for the global online gambling and betting market. A TMR analyst states, “The expansive scope of consumer reach that these players can achieve through the use of smartphone apps alone is strong enough for them to consider creating standalone gambling and betting portals for mobile users. This allows the global online gambling and betting market to generate a staggering amount of income from users that like to play or bet using their smartphone on the go, rather than having to access websites on PCs or kiosks.”

Other factors driving the global online gambling and betting market include the incorporation of VR devices into online gambling games as a means to attract greater consumers with higher disposable incomes, and the added marketing attempts to bring conventional gamblers towards the online portals.

Multiple Key Regions Still Not Relenting Regulatory Pressure on Legal Gambling

One of the leading restraints acting on the global online gambling and betting market currently is the heavy regulatory pressure acting on the players based in the regions of North America, The Middle East, and Asia Pacific. The US especially is a highly potent region for the global online gambling and betting market in terms of consumer pool, but is under extremely strict prohibitions and regulatory restrictions over the use and operation of online betting and gambling portals. As for The Middle East and Asia, the Muslim-dominated nations severely frown down on gambling or betting of any kind. However, the regulatory pressure on online gambling is expected to ease up over the coming years in the US as their numbers and demand grow and present better tax return options to the states.

“The immediate future of the global online gambling and betting market lies in the incorporation of online betting portals with live streaming of sports or games. This caters to a growing demand by users for a real-time sports streaming as well as betting choice. Another significant area of opportunities for the global online gambling and betting market lies in the inclusion of gamification strategies,” adds the analyst.

The information presented in this review is based on a Transparency Market Research report, titled, “Online Gambling and Betting Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.”

About Us

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyse information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

Each TMR syndicated research report covers a different sector – such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.

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Transparency Market Research

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USA – Canada Toll Free: 866-552-3453

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Enlabs Reorganises its Senior Management Team

Niji Narayan



Enlabs Reorganises its Senior Management Team
Reading Time: < 1 minute


Enlabs has made a number of changes to its management team. The company has appointed George Ustinov as its COO and Adam Jonsson as CFO. This is done as part of a larger reorganisation to further increase efficiency in the company.

George Ustinov, who has been employed since 2017 and CFO since 2018, will be given operational responsibility for the Group as a result of his new role as COO. Ustinov holds a bachelor’s degree in economics and management from the University of Latvia.

Adam Jonsson takes over the position as CFO after being employed since the beginning of 2018 as Controller and also Head of Investor Relations. Prior to Enlabs, Jonsson worked for three years at the PwC audit firm. Jonsson holds a bachelor’s degree in economics and management from Lander University, USA.

“George has done a very good job as CFO and has gradually become more involved in the operational work. As we now prepare for the next growth phase, I want George to be able to dedicate full time to developing the operational business as COO and deputy CEO. Adam has been responsible for many of the financial parts already and has been part of the management team for the past year as responsible for investor relations matters, so it feels natural that he assumes the CFO role,” Enlabs president and chief executive Robert Andersson said.

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Industry News

ICU and Spectral technology take centre stage at EAG 2020

George Miller



ICU and Spectral technology take centre stage at EAG 2020
Reading Time: 2 minutes


The gaming exhibition calendar for 2020 kick starts with EAG in London which takes place on 14 – 16 January 2020 at the ExCeL convention centre.  Leaders in cash validation, Innovative Technology, plan to have their latest Spectral Technology products and ICU age verification device centre stage on the stand.

Andy Bullock, Senior Business Manager commented, “EAG provides a platform for us to showcase new and exciting products and essentially launches our exhibition plan for 2020.  This year we will be focussing on showing EAG visitors the advantages of using Spectral Technology when validating and recycling cash. We are looking forward to showcasing our new Spectral Payout recycler ideal for high volume applications requiring multi-denomination recycling at fast speeds.  This advanced version of the SMART Payout offers a huge 80 note recycling capacity and can store and recycle all denominations from a given currency helping to manage float levels more efficiently and keep machines operational. Using Spectral Technology, it has the added benefit of offering complete note image capture (highest spectral coverage) to authenticate banknote validity and protect against fraudulent and stained notes.”

Andy continued, “The NV9 Spectral is also now gaining momentum in the gaming and amusement industry and customers are eager to extend their recycling capabilities by adding a compatible note float module (NV11 Spectral). This gives a fast and secure means of note recycling to ensure float levels and downtime are reduced. Installing this unit in conjunction with the SMART Coin System (SCS) – a bulk coin validator, mixed coin hopper and recycler in one, results in fast, multi-denomination recycling for both notes and coins.  The SCS has a market leading coin hopper capacity with payout speeds of up to 12 coins per second, eliminating coin starvation, the need for multiple hoppers and improving cashflow.”

“Since the introduction of ICU age verification earlier in the year we have been developing this product to include facial recognition technology and look forward to demoing this to the industry at EAG. These new features use facial recognition to identify those who have willingly self-excluded or have been excluded.  Supporting responsible gambling is imperative for the gaming industry and should be a key part of any corporate social responsibility policy. ICU can help ensure compliance with age restrictions to safeguard children and prevent underage gambling plus provide easy implementation of the self-exclusion scheme.”

ICU boasts a high level of accuracy with a proven 96% success rate in detecting under 18’s and compared to a human accuracy rate of 69% it outperforms humans across all age ranges. ICU is also listed in first place (99.8% accuracy) on the Labeled Faces in the Wild ( – a public benchmark for face verification.  It uses artificial intelligence and ITL’s own algorithms to recognise faces and verify age.

Concluding Andy said, “We are looking forward to showcasing our latest products and technologies at EAG so make sure you come and see us on stand 400.”

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Industry News

Microgaming ushers in a wave of diverse titles this December

George Miller



Microgaming ushers in a wave of diverse titles this December
Reading Time: 2 minutes


Microgaming is set to deliver an entertaining display of vibrant content this festive season, with new and exclusive titles forming a compelling showcase this month.

Throughout December, leading software supplier Microgaming is offering a diverse roster of exclusive high-quality games from its network of independent studios and game development partners, to meet the needs of its customers worldwide. Players can immerse themselves in all the captivating artwork and unique features of Microgaming’s December releases.

The adventure begun on 3 December in the jungles of West Asia with the release of Ivory Citadel™, developed exclusively by Just For The Win. Shrouded in mystery and adorned with marble, stone, ivory, and flames, the five-reel, 20-payline slot is filled with superb visuals and exciting features, including Mystery Symbols, free spins, and three wild symbols.

Staged in an ancient temple in the snowy mountains, North Storm™ (Rabcat) lures players into a mystical world full of treasures. Scheduled to launch on Microgaming’s award-winning platform on 5 December, this five-reel, 25-payline fantasy-themed slot offers a strong feature line-up, including Bonus Falls, where symbols in winning combinations disappear and new symbols fall down to close the gaps, and the Increasing Multiplier, which is doubled to 8x in the free spins feature, offering rewarding win potential.

Due for release on 10 December, Treasures of Lion City (Pulse 8 Studios) brings intriguing adventures to life in the form of a thrilling five-by-three reel, 25-payline online slot, where stone buildings, statues and temples lie hidden in the deepest sea in the East. The game features Microgaming’s popular Rolling Reels™ mechanic and a Win Meter feature, which includes multipliers of up to 27x, creating excellent win potential of up to 2,600x the initial bet.

The craic looks mighty in Stumpy McDoodles (Foxium), a five-by-four reel, Irish-themed slot bringing a unique slant through its party atmosphere, a pair of mischievous characters and a hatful of features, including a pot of gold in the base game that reveals Stumpy Random Wilds and Random Multipliers. Players can utilise Foxify™, which increases the multiplier values awarded during the feature. Players get a second chance at triggering free spins with Rainbow Re-spin. During free spins, players collect coins for wilds and multipliers that progress through the remainder of the feature up to a 34x multiplier. Set to launch on 17 December, Stumpy McDoodles is loaded with charm and offers a never-ending party, filled with great rewards.

With an array of spectacular content planned, along with a wealth of existing Christmas-themed games, Microgaming customers can expect even further variety and more targeted, engaging gameplay throughout the month of December.

“Microgaming continues to diversify its exclusive content offering this December, along with popular partner games. Each new release is packed with thrilling features, formats and unique themes, offering operators incredible choice. 2019 has been a particularly exciting and busy year for Microgaming, with more than 40 feature-rich exclusive new games released, including blockbuster branded titles such as the action-packed Lara Croft® Temples and Tombs™ and Village People® Macho Moves online slots. We’re looking forward to building on that momentum as we head into 2020, when we will be revealing another wave of exciting releases and announcements to shake up the new year.” – James Buchanan, Director of Global Operations at Microgaming.

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