Industry News
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).
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 marketās 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 nationās 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:
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Industry News
Explore the future of gaming at ICE Barcelona: 20 ā 22 January 2025
Explore the future of gaming at ICE Barcelona: 20 ā 22 January 2025
Join the most influential gaming industry professionals from throughout the world when ICE opens at Fira Barcelona Gran Via, 20 ā22 January 2025. The first edition of the world-leading business event to be held outside the UK will feature a record 1,000 exhibitors following unprecedented demand for space from world gamingās leading innovators covering every sector and every jurisdiction.
ICE and the co-located iGB Affiliate – which will occupy 120,000 square metres compared to the 100,000 sqm used in London ā connect the entire global industry and provide access to the very latest cutting-edge innovations, technological solutions, regulatory updates, and insights which assist entrepreneurial businesses to enter new jurisdictions and build market share.
ICE is the event where the industry launches tens of thousands of game-changing, landmark products and where visitors can explore the future of gaming. For more information on the event where the world of gaming goes to do business and to register: icegaming.com
Casino Games
BetMGM is launched in the Netherlands, bringing an authentic Vegas experience to the Dutch market
The golden Vegas offerings and entertainment of BetMGM is coming to the Netherlands, following a successful launch in the UK. BetMGM will offer a best-in-class Las Vegas experience to deliver a new golden era of online casino and sports betting in the Netherlands. Leveraging LeoVegas Groupās proprietary technology and platform, the launch marks a significant step in the brandās international expansion.
BetMGM, the entertainment and sports brand known for its golden offerings and authentic Vegas experience, is launching in the Netherlands. The new brand is set to provide customers with exciting new product features, including large-scale jackpots, loyalty rewards, exclusive slots, as well as unique and compelling sports promotions. Utilising LeoVegas Groupās proprietary technology and platform, this expansion into the Dutch market represents the second European launch, succeeding a well-received rollout in the United Kingdom.
Gary Fritz, President of MGM Resorts International Interactive, said āWe are thrilled to launch BetMGM in the Netherlands and build on BetMGMās successful expansion into global markets. The Dutch market offers an exciting opportunity and will be an important part of our international expansion efforts and strategy to become a global gaming leader.ā
Gustaf Hagman, Group CEO at LeoVegas Group, said āOur launch in the UK was tremendously successful, and we eagerly anticipate bringing the golden Vegas experience to the Netherlands. This launch in the Dutch market is an important step in our international expansion, but we have much more in store.ā
Industry News
“Royal Flash” Unveiled by PopOk Gaming – An Exciting Journey Back to Classic Slot Gaming!
PopOK Gaming, a trailblazer in the world of iGaming, is happy to announce the launch of their latest slot game, “Royal Flash.” This classic-style slot game takes players on a fruity escapade, promising an exhilarating journey filled with excitement and grand wins fit for royalty.
Drawing inspiration from traditional fruit machines, “Royal Flash” exudes classic charm with its timeless design and iconic symbols. Set across 5Ć3 reels and featuring 10 paylines, this game is adorned with familiar fruit symbols such as strawberries, cherries, grapes, and the illustrious Seven symbol.
But the real excitement lies in the gameplay – each Wild symbol that graces the reels expands to form a Wild reel, ramping up the intensity and offering thrilling win potential with every spin. Additionally, keep a keen eye out for the coveted gold bar symbol; landing three or more unlocks a prize from any position on the reels, adding an extra layer of thrill to your gaming experience.
Players can expect to bask in the glory of majestic wins, with the opportunity to claim up to 1,500 times their bet in this modernized twist on a retro-inspired classic. Whether you’re a seasoned slot enthusiast or a newcomer to the world of gaming, “Royal Flash” promises an unforgettable adventure filled with excitement, thrills, and the chance to win big!
Experience the Majesty of “Royal Flash” Today!
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