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Online Gambling Market to Hit $80.65 billion by 2025- Insights on Size, Share, Technological Trends, Business Opportunities, and Key Highlights: Adroit Market Research

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Online Gambling Market Size to Achieve USD 172 Billion by 2030 growing at 11.6% CAGR due to the Increasing Penetration of Mobile Phones Globally - Exclusive Report by Acumen Research and Consulting
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Increasing adoption of smartphones expected to drive the online gambling market at a CAGR of 9.8% during the forecast period. In 2018, Sports betting dominated the online gambling industry and Geographically Europe dominated the online gambling industry. This is due to the fact that the region considerate of large number of countries like, Germany, Italy, UK and France where online gambling is legal.

 

The global online gambling market size is estimated to reach up to USD 80.65 billion by 2025 mainly driven by rising internet penetration and growing adoption for smartphones and tablets amongst generation X and millennials. Moreover, online gaming platforms offers various forms of online gambling games such as online poker, sports betting, online bingo, online lottery and casino game. These games has brought huge switch from traditional to online gambling platform.

The report also throws light on various aspects of the online gambling industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the online gambling industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.

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The current consumer landscape suggests that consumers are preferring online gambling over offline mode of gambling. Hence, online gaming products are expected to offer new revenue opportunities for online gaming service providers.

In product type segment, the market for casino sub-segment is estimated to grow at the CAGR 10.2% during the forecast period. This growth is primarily driven by the increase in streaming over the internet and stability of the servers, which enable the companies to offer real time experience and comfort to the players. There has been significant demand for online casino by millennials, which is expected to further drive the market.

The “Global Online Gambling Market Size 2017 by Type (Sports Betting, Casinos, Poker, Bingo and Others) by Device (Mobile and Desktop) by Region (North America, Europe, Asia Pacific, Central & South America and Africa) and Forecast 2018 to 2025″ study provides an elaborative view of historic, present and forecasted market estimates. Access the full report @ https://www.adroitmarketresearch.com/industry-reports/online-gambling-market

In 2018, mobile the sub segment of the device segment dominated the global online gambling market. The segment accounted USD 26.99 billion and is expected to grow at a CAGR of 12.0% over the forecast period. The enhanced convenience offered by mobile phones which allows the gamblers access to their favorite gambling websites and app from anywhere anytime is expected to boost the market. In 2018, the mobile devices occupied a share of 64.40%. Advances in mobile phone technology and explosion of mobile gambling into the online gaming industry has made the entire gambling process easy and user friendly for those who choose smartphones over desktop or tablets.

Geographically, Asia Pacific is leading the global online gambling market driven by increasing population across the demographics, and newly developing markets such as India, Singapore, Thailand and Indonesia due to internet penetration. Europe and North America held the first and second largest market value shares respectively. Other developing markets in countries such as Brazil and Argentina are going to drive the market for South America which is the second fastest growing markets globally.

William Hill, Bet365, PP+B, Betsson, Ladbrokes, Amaya, GVC Holdings, 888 holdings, Skybetting & gaming and Unibet(Kindred Group) are the leading players present within the global online gambling market.

Major points from Table of Contents:
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. Online gambling Overview Market, By Type
Chapter 5. Online gambling Market Overview, By Devices
Chapter 6. Online gambling Market Overview, By Region
Chapter 7. Company Profiles

Browse more reports:

Casino Management System Market 2018-2025: The global casino management system market is anticipated to record substantial growth over the forecast period credited to increase in need of business insights and automation, growing demand of risk management and effective security, and rising awareness over fraud-related transactions. Though, factors such as the necessity of high initial investment and rising cyber threats are anticipated to restrain the global casino management system market growth. Browse the report@ https://www.adroitmarketresearch.com/industry-reports/casino-management-system-market

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SKS365 keeps investing in people: GROW People Management Program took the next level

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11 experienced people managers from the SKS365 group’s 4 locations gathered last week in Belgrade for the new GROW People Management Program. From 15 th to 19 th of April, through trainings, discussions, and social connections, people had the opportunity to further grow individually and as a team, while enjoying Belgrade’s city center and rivers.

Created in 2023 with the purpose of building foundation people management skills across the organization, GROW initiative evolved this year by including a new, advanced program for experienced people managers to further consolidate their skills and prepare for future opportunities.

Building and fostering connections, sharing experiences, and enjoying team building experiences – all these activities have been part of the GROWpmp agenda for the 11 people managers coming from Commercial, Product and Development, Finance, and Sportsbook departments of the group’s 4 locations – Malta, Italy, Austria, Serbia.

GROWpmp included a variety of topics that people managers in SKS365 recognized as the key areas for management development. Topics such as influence through communication, team effectiveness, DEI, through to presentation skills and business topics like understanding finance and management reporting, were delivered with the support of external professionals and internal experts, while designed and organized by the SKS365 People & Culture team.

 

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Kindred’s Share of Revenue from High-risk Players Shows Slight Increase

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Kindred Group plc’s (Kindred) share of revenue from high-risk players showed a slight increase to 3.2% (Q4 2023 3.1%) in the first quarter of 2024. Compared to the first quarter of 2023, the high-risk revenue share decreased marginally. The percentage of detected customers who exhibited improved behaviour after interventions came in at 87.1% (compared to 87.4% in Q4 2023 and 83.0% in Q1 2023). This sustained trajectory in the improvement effect after interventions, observed over an extended period, serves as a testament to the strong dedication and collective efforts throughout the company. It reflects Kindred’s ongoing commitment to fostering positive change within the industry.

“We continue to see our share of revenue from high-risk players fluctuate quarter to quarter, and we are working closely with all teams across the company to support customers towards a more sustainable gambling experience. However, it is encouraging to see that our Journey towards Zero data has steadily decreased since 2020. A similar trend can be seen across the healthier gambling behaviour effect after interventions. This tells us two things: our work is paying off, but we need to continue to push ourselves to propel a sustainable progression,” Alexander Westrell, Director of Communications at Kindred Group, said.

“It was very encouraging to witness the open and transparent discussions at the Sustainable Gambling Conference in London on 20 March, where those with lived experience shared their important stories. Also, it is evident that technology is moving forward, and will provide greater opportunities to detect and intervene in the future. We hope to see more regulators engage with the industry and with experts to secure a more sustainable industry for everyone,” Alexander Westrell added.

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PENN Entertainment Names Aaron LaBerge as Chief Technology Officer

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PENN Entertainment announced that Aaron LaBerge has been named Chief Technology Officer (CTO) effective July 1, 2024, subject to customary regulatory approvals. Mr. LaBerge will report directly to PENN CEO & President Jay Snowden.

In his new role, Mr. LaBerge will be responsible for driving the technology strategy and execution for PENN, while leading the multinational team of technologists and serving as the key business leader for the company’s Interactive division.

Mr. LaBerge spent more than 20 years at The Walt Disney Company, in two stints separated by five and a half years as a technology entrepreneur. He was most recently President & Chief Technology Officer for Disney Entertainment and ESPN where he was responsible for driving all technology and product development in support of The Walt Disney Company’s two media divisions. In that role, he helped set the vision and strategic leadership for how Disney uses technology to enable storytelling and innovation, drive its business, and create unparalleled consumer experiences with entertainment and sports content.

“We are thrilled to have someone of Aaron’s caliber join our PENN executive team. Having overseen a global organization of thousands of engineers, product developers, designers, technologists, and data scientists that created some of the largest scale and most successful media properties in the world, there is no better candidate to lead our Technology and Interactive division into its future. I know Aaron is looking forward to working with Todd George, our head of operations, and our entire Executive Team to continue growing our position as a leader in online gaming, sports betting, and digital sports media,” Mr. Snowden said.

“I’m excited to join another talented team at PENN Interactive and lead our technology strategy. PENN Entertainment is at the forefront of the fast-changing gaming and sports media industry. I plan to use my experience from Disney and ESPN to help make ESPN BET an essential piece of the sports fan experience. Together, we’ll push the limits and redefine how fans interact with sports and gaming,” Mr. LaBerge said.

Prior to his most recent role at the Walt Disney Company, Mr. LaBerge was Executive Vice President and Chief Technology Officer at ESPN from 2015 to 2018. At ESPN he played an instrumental role in the growth of ESPN’s consumer-facing digital media products and services – leading many of ESPN’s most ambitious and challenging projects and helping establish ESPN’s position as the leader in digital sports and innovative sports technology development. He was a key architect in the design, development, and engineering of ESPN’s state-of-the-art facilities in Bristol, CT; Los Angeles, CA; Charlotte, NC; and Austin, TX, as well as data centers and infrastructure that connect those facilities around the world, as well as the technology design and development to support the launch of the multi-platform SEC Network.

Between 2007 and 2012, LaBerge was co-founder and CEO of Fanzter, Inc. – a venture-funded consumer software and digital product development company. At Fanzter, he directed all day-to-day operations and led the development and launch of a variety of consumer-focused internet and mobile products, ground-breaking social and commerce technologies and more.

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