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The online gambling market is predicted to reach USD 87. 75 billion by 2024, registering a CAGR of 8. 77%, during the forecast period (2019 – 2024).

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Global Gambling Industry Report 2022: Information and Data on Activities in 250+ Jurisdictions
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Reportlinker.com announces the release of the report “Online Gambling Market – Growth, Trends and Forecast (2019 – 2024)”
Artificial intelligence, Chabot, and machine learning have taken over the market. The rise in the number of female population in casinos and convenience of cashless mode of payment during the gaming are likely to boost the online gambling market, during the forecast period. Online gambling companies are likely to expand their sport betting options after sport betting was legalized in the United States by the Supreme Court, in 2018, which is further supporting the market’s growth. However, stringent regulations related to online gambling are expected to hinder the market growth rate.

Scope of the Report
The online gambling market includes gaming types, such as betting, bingo, lottery, casino, and other gambling games include poker and country-level games. The online gambling market by device type is categorized as mobile and desktop gambling games.

Key Market Trends
Online Betting Holds a Prominent Share among the Online Gambling

The online betting segment is predominantly applied in the sports category, especially in events, such as FIFA World Cup and European Championships. Online betting is also popular in horse racing and greyhound racing. Many of the online sports betting companies are sponsoring different teams as a part of their marketing initiatives and strategic expansions. For instance, the bwin brand, a pioneering online sports brand across Continental Europe, attained global recognition through high-profile sponsorships with football clubs, such as Real Madrid and AC Milan. Similarly, for the 2018 World Cup, the Gaming Innovation Group (GiG) launched an advanced and innovative platform for sports betting, thereby driving the market.

North America Remains the Fastest Growing Region

The current legislation framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated. Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. The new law allows for online casinos, online poker, sports betting, and more. New Jersey is currently the largest market for regulated online gambling in the United States. There are a number of sports books and online sports betting apps live in the state. Canada is largely an unregulated country in terms of online gaming. Whereas, Mexico is reviewing its gambling laws, with the aim to regulate the online gambling sector to bring it in line with the rest of the nation’s gambling industry.

Competitive Landscape
Market leaders have been focusing on mergers since the past few years, primarily to increase their market share and to improve margins. For instance, Paddy power Plc and Bet fair Plc merged into Paddy Power Betfair Plc. Similarly, Ladbrokes and Coral merged and formed Ladbrokes Coral Group Plc. Many online gambling companies rely on third party providers, such as Playtech, for software. However, some companies choose to backward integrate. 888poker heavily invested in developing its own software and online gaming technology, primarily not to rely on suppliers. The key players in the online gambling market are providing similar or almost identical services and products, leading to a fierce competition with a heavy focus on pricing and marketing activities.

Reasons to Purchase this report:
– The market estimate (ME) sheet in Excel format
– Report customization as per the client’s requirements
– 3 months of analyst support
Read the full report.

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Industry News

Biggest iGB L!VE on record opens in Amsterdam

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The 2024 edition of iGB L!VE, the last to be held in Amsterdam prior to its 2025 relocation to London, opened today (17 July) with attendees participating in the biggest edition of the show on record.

A sustained level of international interest has seen iGB L!VE registrations increase 40% year-on-year with industry professionals from 121 nations heading for Amsterdam.

Delegates will have access to 300+ exhibitors and sponsors occupying over 21,000 square metres of gross space, up 35% on the 2023 figure.

The iGB L!VE Conference Program features 50+ speakers across 21 sessions. Built around four core themes of: Markets and Convergence, Player Engagement, Building for the Future and Protecting Your Business – headline sessions include a live masterclass on ways to engage players in the world’s hottest online casino markets, innovation in slot game design, navigating cyber threats in the aftermath of an attack, the role of ESG in boosting M&A valuations, parasite SEO, surviving the search bar squeeze, link localisation in Spain and LatAm, and how affiliates should respond on player protection.

iGB L!VE got off to a dynamic start with Michel Groothuizen, the chair of the Dutch regulator Kansspelautoriteit (KSA) making the opening address. The appearance was Michel Groothuizen’s first in front of an international igaming audience following his appointment as Chair of the KSA effective 1 July.

This was followed by a Keynote delivered by Sam Sadi, CEO of LiveScore Group. Sadi who has worked across the sports media and betting industries for more than 25-years presented how to drive growth through media partnerships and convergence.

In a number of ‘firsts’ iGB L!VE is hosting the ASCEND Women & Allyship Meet-Up, a new year-round mentoring and leadership initiative aimed at supporting women early in their gaming careers. The show will also witness the launch of the iGB LaunchPad which provides a platform for five trailblazing start-up businesses and the first Sustainable Gambling Zone showcasing the industry’s latest thinking and approach to safer gambling.

 

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Nederlandse Loterij Appoints Arno de Jong as its New Chief Customer Officer

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Nederlandse Loterij has appointed Arno de Jong as its new Chief Customer Officer.

De Jong has been with Nederlandse Loterij since 2016, serving as the Chief Marketing Officer (CMO). Prior to this, he held roles such as Director of Reader Market at AD NieuwsMedia and Marketing Director at De Lotto, the organisation that merged with the Nederlandse Staatsloterij in 2016 to form Nederlandse Loterij.

In his new role, De Jong will be responsible for customer strategy, the gaming brands and the comprehensive commercial policy of Nederlandse Loterij. As CCO, he will also join the executive board of the gaming organisation, which currently includes CEO Arjan Blok and CFRO Jet Roos-van Aerssen.

Alexander Pechtold, chairman of the supervisory board of Nederlandse Loterij, said: “With Arno de Jong as CCO on the executive board of Nederlandse Loterij, we place an even greater emphasis on our players at the heart of the organization. This ensures that we remain leading and distinctive in the future – both digitally and in-store. Arno’s entrepreneurial and creative spirit makes him the ideal person to guide Nederlandse Loterij in its desired progression.”

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Betsson Receives Highest Possible ESG Rating, AAA, by MSCI

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Betsson AB announced that it has been awarded an AAA rating by Morgan Stanley Capital International (MSCI) ESG Ratings, an upgrade from the previous AA level. The AAA rating is the highest possible and confirms Betsson’s dedicated efforts in environmental, social, and governance (ESG) practices, which form a part of running a profitable business long-term.

Pontus Lindwall, CEO of Betsson AB, said: “Receiving the highest ESG rating from MSCI is a testament to Betsson’s dedication to ethical business practices, responsible gaming, and sustainability. These are constant efforts that span across the entire business as we are continuously striving to improve.”

Morgan Stanley Capital International (MSCI) ESG ratings measure a company’s resilience to long-term ESG risks, helping investors identify ESG risks and opportunities within their portfolios. Ratings range from AAA (highest) to CCC (lowest) based on a company’s exposure to and management of industry specific ESG risks relative to peers. Rated companies incur no costs for the rating. MSCI’s methodology ensures unbiased and independent assessments, maintaining the credibility and objectivity of the evaluations.

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