Connect with us
SIS

Industry News

Global Online Gambling Market Size Worth USD 73.45 Billion By 2024: Hexa Research

George Miller

Published

on

The Global Online Gambling Market is expected to grow from USD 53,686.56 Million in 2019 to USD 95,023.13 Million by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 9.98%
Reading Time: 3 minutes

 

The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe. Technological advancements and addition of new regulations are expected to boost market demand over the forecast period. Furthermore, growing adoption of smartphones and tablets and easy access to online platforms are anticipated to drive the market.

Companies are focusing on developing mobile applications with secure money transfer facilities so that punters can easily place their bets online in real time. For instance, companies such as Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have mobile applications on different platforms such as iOS and Android. Moreover, a number of countries are legalizing gambling with each passing year. For instance, in December 2016, the parliament of Japan passed a law to legalize casinos after holding it for 15 years.

In 2016, the sports betting segment led the market and accounted for more than 40% of the revenue. It comprises various sports tournaments such as cricket, basketball, tennis, and other games. For instance, the sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to increasing football tournaments and cricket leagues. Increasing number of people betting on such events and easy accessibility to online gambling websites and applications are anticipated to present considerable growth opportunities for the market.

The online gambling and betting industry is anticipated to grow at a faster pace due to favorable regulatory environment. Moreover, rising disposable income of consumers and adoption of Internet-based devices are increasing revenues of the online gambling market worldwide. However, certain regions are likely to record sluggish growth due to strict government regulations, thus affecting overall revenue generation.

Europe dominated the market in 2016, valuing USD 16.42 billion in the market. This is due to the fact that online gambling is legal in a large number of countries such as France, Germany, and Italy. Countries such as U.K. and Germany have well-developed technology and infrastructure. Moreover, they have witnessed increased usage of smartphones and tablets for playing online gambling games on applications provided by companies such as Betsson AB and Bet365 Group Ltd.

The global online gambling industry is highly fragmented in nature and is marked by presence of several players operating across the world. Companies are focused on expanding their presence in the market through various strategic alliances such as diversification in online services.

For instance, in August 2015, Paddy Power announced a merger with Betfair for Euro 5 billion in order to increase its penetration in the online market and overcome regulatory hurdles. Key companies in the online gambling market include William Hill plc.; Bet365 Group Ltd.; Paddy Power Betfair plc.; Betsson AB; Ladbrokes Coral Group plc.; Amaya Inc.; 888 Holdings plc.; Sky Betting & Gaming; Kindred Group; and GVC Holdings plc.

Hexa Research has segmented the online gambling market report based on type and region:-

  • Segmentation by Type
    • Sports Betting
    • Casinos
    • Poker
    • Bingo
    • Others
  • Segmentation by Region
    North America
    • U.S.
    Europe
    • U.K.
    Asia Pacific
    Australia
    • Central & South America
    Africa
  • Key Players Analyzed:
    William Hill plc.
    • Bet365 Group Ltd.
    • Paddy Power Betfair plc.
    • Betsson AB
    • Ladbrokes Coral Group plc.
    • Amaya Inc.
    • 888 Holdings plc.
    • Sky Betting & Gaming
    • Kindred Group
    • GVC Holdings plc.

 

About Hexa Research:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Advertisement
Kasynos.Online

Industry News

GVC Becomes Founding Member of All-in Diversity Project

Niji Narayan

Published

on

GVC Becomes Founding Member of All-in Diversity Project
Reading Time: < 1 minute

 

GVC Holdings has joined the All-In Diversity Project, an industry-driven initiative to benchmark diversity, equality and inclusion for the global betting and gaming sector.

The All-in Diversity Project provides tools to businesses looking to progress in the area of Diversity & Inclusion (D&I). GVC’s membership in the All-In Diversity project will help accelerate its leadership role on (D&I) issues within the sector.

“GVC is delighted to become a Founding Member of the All-In Diversity Project. As a global employer, GVC is committed to providing a safe, fun, and inclusive culture where our people feel they can truly belong. We are a multicultural business that values, celebrates and respects individual differences, so whatever your sexuality, gender, gender identity, ability, age, race, religion or belief, you will have a voice here, and the space to do your best work at GVC. We look forward to working with our partners to make our industry a more inclusive environment,” Shay Segev, CEO of GVC, said.

“GVC is a great addition to our roster of Founding Members. As a multi-channel, multi-jurisdictional industry leader, they bring an unrivalled knowledge and global perspective of the industry that along with a passion to lead and share their best practices will help us take another huge step towards a better more inclusive industry. We are proud to welcome them,” Kelly Kehn, Co-Founder of All-in Diversity Project, said.

Continue Reading

Industry News

Scientific Games Signs Four-year Dutch National Lottery Contract

Niji Narayan

Published

on

Scientific Games Signs Four-year Dutch National Lottery Contract
Reading Time: < 1 minute

 

Scientific Games Corporation has entered into a new contract with the Dutch National Lottery Nederlandse Loterij.

The deal will see Scientific Games provide its instant game “scratch cards” to the Lottery for a period of four years through the Scientific Games Enhanced Partnership (SGEP), a performance-driven management programme used by more than 20 lotteries globally. The agreement may be extended by Lottery for up to four additional years.

“After a decade of work refining our successful partnership, we are pleased to continue our collaboration with Scientific Games. While this announcement comes during a challenging global situation, we are confident our ongoing collaboration will continue our responsible growth trajectory of the instant ticket business for Nederlandse Loterij to provide maximum transfers to our beneficiaries,” Raffaele Fiorini, business director for Nederlandse Loterij’s instant tickets, said.

Scientific Games has supplied Nederlandse Loterij with scratch cards since 1994, moving to the SGEP programme in 2010 for full product category management. Scientific Games also provides the Lottery with sports betting technology and services.

“We are honored that Nederlandse Loterij has entrusted Scientific Games with its instant scratch cards business, and we are committed to using our more than 45 years of experience to continue developing its instant product portfolio to responsibly grow sales and profits,” John Schulz, Senior Vice President, Lottery Instant Products for Scientific Games, said.

“SGEP is the market-leading program for lotteries focused on responsibly growing the instant product category. It is proven successful for many of the top-peforming lotteries in the world, and we are delighted to continue maximizing results for Nederlandse Loterij and its retail partners, while providing great entertainment for players,” Matthias Müller, Vice President Sales & Marketing for Scientific Games International Lottery Systems, said.

Continue Reading

Industry News

Digitain Integrates Spinmatic Video Slots

Niji Narayan

Published

on

Digitain Integrates Spinmatic Video Slots
Reading Time: < 1 minute

 

Sportsbook and casino platform provider Digitain has entered into a deal with leading developer and supplier of casino games, Spinmatic.

As per the deal, Spinmatic video slot games will be integrated into Digitain’s platform, providing its partners’ customers with its engaging new titles and classics.

“The integration of Spinmatic onto our platform provides a great boost to our overall content and we’re delighted that our partners’ customers will benefit from a fantastic range of premium, highly-engaging games,” Samvel Mkrtumyan, Head of External Communication at Digitain, said.

“It is always very positive to be able to reach new customers with our games. We are very happy to partner with such a great company as Digitain, and I’m sure its partners’ players are going to love our video slots because we take the whole process very seriously, having their likes and their background in mind to deliver exactly what they are looking for,” Norbert Mathies, Managing Director of Spinmatic, said.

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.

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.

Kasynos.Online