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

Niji Narayan

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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.

Contact Us

Mr. Atil Chaudhari

Transparency Market Research

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90 State Street,

Suite 700,

Albany, NY – 12207

United States

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Research Blog: http://www.techyounme.com/

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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VIP Arab Club Casino gets into the groove quickly after signing major content deal with GrooveGaming

George Miller

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VIP Arab Club Casino gets into the groove quickly after signing major content deal with GrooveGaming
Reading Time: 2 minutes

 

VIP Arab Club Casino is ramping up its offering further as one of the best licensed casinos in Arabic, following the signing of a content deal with technology company GrooveGaming.

Hot on the heels of a successful iGB Live!, GrooveGaming is attracting a lot of attention in the global iGaming market with a diverse portfolio of proprietary and 3rd party HTML5 video slots and table games as well as over 2500 casino games together with the biggest Lotto, Bingo, Live games, Scratch, Multiplayers and Sportsbook. GrooveGaming’s solutions help operators increase player value, generate new revenue opportunities and improve brand integrity.

GrooveGaming is powered by technology innovation which provides operators with the ability to activate a range of features that enhance customer experience and engagement, improve retention, encourage extended play and produce higher yield.

Apart from the growing portfolio of games, other GrooveGaming services include advanced marketing and management system, risk management, regulatory compliance, business intelligence, affiliate promotion and customer service, as well as support in launching, maintaining, and growing new online casinos.

Through the partnership VIP Arab Club Casino will power-up the range of available content and supplement an already well-populated platform with new games that include best performing slots, table and video poker games, all of which have been designed, developed and certified for use in regulated markets.

VIP Arab Club Casino is well-known for generous casino bonuses and has a friendly and discreet customer support in Arabic, together with a number of other international languages for players seeking relaxation across a range of devices, including mobile.

Renaud Dugert, Operations Director at VIP Arab Club Casino said: “GrooveGaming has a great reputation and provides a huge range of content via its leading aggregation platform. GrooveGaming is an important strategic partner for VIP Arab Club Casino. We look forward to a long and productive partnership.”

Yahale Meltzer, COO at Groove Gaming said: “We’re delighted to enhance our offer for VIP Arab Club Casino customers with GrooveGaming’s dynamic content. The innovative features have already proven to be hugely popular with customers across our broader brand portfolio in a range of regulated markets.”

For further information visit www.groovegaming.com

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Paddy Power Launches “Save Our Shirt” Campaign

Niji Narayan

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Photo Source: htafc.com
Reading Time: 1 minute

 

Paddy Power has announced that its Huddersfield Town kit was just a hoax, releasing the real kits alongside a campaign aimed at shirt sponsors. The campaign which is titled as “Save Our Shirt” is calling on brands, including the fellow bookmakers, to stop sponsoring football shirts.

Huddersfield Town kit-PP

 

The intention of the hoax jersey was to shine a light on the issues around shirt sponsorships, with Paddy Power now completely removing their logo from “The Terriers” kit with the launch of the campaign.

“As a sponsor, we know our place, and it’s not on your shirt. So today we are calling on other sponsors to join the Save Our Shirt campaign, and give something back to the fans,” Victor Corcoran, MD of Paddy Power said.

Paddy Power has donated a part of their sponsorship to the Huddersfield Town Foundation and announced that they will be setting up an amnesty outside the John Smith’s Stadium on the first day of the season, where they will exchange 500 new kits for previous branded versions.

“Shirt sponsorship in football has gone too far. We accept that there is a role for sponsors around football, but the shirt should be sacred,” Corcoran added.

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Microgaming to Launch New Slot for Jungle Jim Series in November

Niji Narayan

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Microgaming to Launch New Slot for Jungle Jim Series in November
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The latest Jungle Jim slot, developed by Stormcraft Studios, has taken centre stage on Microgaming’s stand at the popular industry exhibition in Amsterdam.

Following the success of Jungle Jim El Dorado in 2016, the iconic character is now uncovering the mysteries of Egypt in Jungle Jim and the Lost Sphinx. This five by five reel, 50 payline slot is anticipated to be released in November this year.

To celebrate the popular character’s return, Microgaming has branded its stand in Amsterdam, where attendees could demo and preview visuals of the upcoming game.

“Given the success and popularity of Jungle Jim El Dorado, we are really looking forward to teasing the iconic character’s next outing, this week at iGBLive! The new game includes outstanding artwork and entertaining mechanics, including the popular Rolling Reels™ feature, and Stormcraft Studios have set a new benchmark in visual storytelling in our industry,” Jean-Luc Ferriere, CCO at Microgaming said.

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