Connect with us
SIS

Industry News

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

Niji Narayan

Published

on

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

State Tower,

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.

Continue Reading
Advertisement
Comments

Industry News

Zynga Poker Partners with Brad Garrett for “Celebrity Home Game”

Niji Narayan

Published

on

Zynga Poker Partners with Brad Garrett for “Celebrity Home Game”
Reading Time: 1 minute

 

Mobile poker game Zynga Poker has partnered with Emmy Award winner Brad Garrett for a special “Celebrity Home Game” sweepstakes event.

By completing challenges daily in the Zynga Poker, two lucky players will win seats at a celebrity card game in Southern California, hosted by Garrett himself. Zynga will donate up to $100,000 to the Maximum Hope Foundation, a non-profit organisation founded by Garrett that provides financial stability for parents of children diagnosed with life-limiting conditions.

“What I love about Zynga Poker is that you can practice your game without having to worry about your ‘tells’ or poker table etiquette – it’s just about the cards. I can make a sincere pledge to the winners of this sweepstakes – when you’re at my Home Game, we’ll be playing by these same rules. Check your poker face at the door, and get ready to have some fun,” Brad Garrett said.

“Poker isn’t a game of chance – it’s all about showmanship and skill, and that’s something Brad Garrett has in spades – no matter what he says. We’re proud to bring our players an opportunity to participate in a once-in-a-lifetime poker night, hosted by a legend in comedy and a hero to families in need. Now our players have the opportunity to show off their skills and prove that lady luck plays favorites,” Bernard Kim, Zynga’s President of Publishing said.

Continue Reading

Industry News

Betsoft Partners with Wanabet

Niji Narayan

Published

on

Betsoft Partners with Wanabet
Reading Time: 1 minute

 

Casino content developer Betsoft Gaming has partnered with Wanabet. As per the deal, Betsoft’s full portfolio of award-winning slot games will be available to Wanabet’s extensive Spanish customer base.

The deal will also enhance Betsoft’s reach in the regulated Spanish market, after the supplier recently signed a similar deal with Casino Gran Madrid.

“We are delighted to partner with Wanabet, who are one of the most exciting brands in the rapidly growing Spanish market. We continue to develop high-level slot content that is suitable for regulated markets, and we look forward to a long and successful partnership,” Francesca Raniolo, Sales Executive of Betsoft Gaming said.

“We are thrilled to be able to offer Betsoft’s considerable portfolio of best performing slot games. Betsoft are at the forefront of developing unique and innovative content, and we are confident their titles will be a major hit with our customers,” Cecilio Santiago, Head of Brand of Wanabet said.

Continue Reading

Industry News

Skyrocket Acquires The Games Company

Niji Narayan

Published

on

Skyrocket Acquires The Games Company
Reading Time: 1 minute

 

Skyrocket Entertainment has acquired casino games studio The Games Company for an undisclosed amount.

The studio’s product portfolio comprises 10 games including Hippie Chicks, Cash Cowboy and Super 7 Wilds, which are available in the UK and markets served from Gibraltar, with several new launches scheduled for later in 2019.

“We’re incredibly excited by our acquisition of The Games Company, which represents a major milestone for Skyrocket. TGC has a proven track record for developing and rolling out online games – it also has a pipeline of new integration opportunities and partnerships with online gaming operators so it’s primed to expand recurring revenue,” Sean O’Kelly, CEO of Skyrocket said.

“We’re looking forward to working with Hans and the talented team at TGC to integrate Skyrocket’s existing brands and IP. All of this strengthens Skyrocket’s offering and reach and sets us up for rapid growth,” Sean O’Kelly added.

“We are excited to have TGC aboard Skyrocket – this will significantly help broaden our reach in delivering exciting and standout games using our exclusive media rights through TGC’s certified Remote Gaming Server and existing partnerships,” Richard Clarke, COO of Skyrocket said.

Hans Winkelmann, the co-founder of TGC, will work alongside Skyrocket’s senior management team as chief product officer to implement a revitalised business operations strategy.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.