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Global Online Gambling and Betting Market to Surpass US$ 123.5 Billion by 2026

Published

6 years ago

February 28, 2019

Global Online Gambling and Betting Market to Surpass US$ 123.5 Billion by 2026 Reading Time: 2 minutes

According to Coherent Market Insights, global online gambling and betting market was valued at US$ 46.9 billion in 2017 and is projected to exhibit a CAGR of 11.4% over the forecast period (2018 – 2026).

Key Trends and Analysis of the Online Gambling and Betting Market:

Increasing digitization, growing trust of gamblers on online payment options, increasing use of mobile phones, high internet penetration, and rising disposable income of middle-class segment are factors driving growth of the online gambling and betting market. Increasing use of digital currency and website or applications provided by companies for gambling and betting are also contributing to growth of online gambling and betting market across the globe. According to Our World in Data, estimated number of internet users worldwide reached 3.4 billion in 2016.

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According to a report published by ‘Sports betting Dime’ in January 2019, sports betting is expected to grow majorly in Asia Pacific region. Macau and Hong Kong are two of the most prominent sports betting and revenue generating countries in the world. High economic growth of the region will provide disposable income for leisure activities, thereby boosting the online gambling and betting market growth.

Improved security for online transaction will increase digital transactions, worldwide. It will also motivate companies to offer better, faster and cost-effective ways to transfer money. Many banks across the globe did not allow users to use their account or card for gambling. For offering best service to gamblers, many payment methods such as NETeller, PayPal casino, visa casino, zimpler, and skrill casino are used at casinos or used for online betting. Neteller is one of the most popular payment method, which is used at online casinos. This payment transfer method is fast, safe, and it can be used anywhere.

Stringent regulatory laws for online gambling, insufficient facility for internet operations, and threat of cyber-attack are major restraining factors of online gambling and betting market. According to a report published by iris-france in June 2017, all EU members passed specific legislation regarding betting activity. This legislative framework allow regulators to monitor or control online gambling activity and reduce associated criminal risks.

Key Market Takeaways:

The global online gambling and betting market is projected to witness a CAGR of 11.4% during the forecast period (2018 – 2026), owing to increasing adoption of internet devices, globally
According to Coherent Market Insights’ analysis, the online gambling and betting market is expected to show a growth rate of 14% during the forecast period in Asia Pacific region. The growth drivers include huge population, relaxation of laws, increasing participation of wagers, and availability of a huge number of gambling and betting websites with attractive offers.
Many countries or regions are legalizing online gambling and betting, owing to increase in tax revenue, employment generation, and encourages tourists to visit country. Sikkim became the first Indian state to legalize internet gambling. The Sikkim Regulation of Gambling Act was established in 2005 to authorize the government to allow individual gambling houses. There are three games in Sikkim Gambling Law: Sports Betting, Casino, and Lottery.
Major players operating in the global online gambling and betting market include 888 Holdings, GVC Holdings, Kindred Group, Paddy Power, Betfair, William Hill, Bet365, Stars Group, Draft Kings, Betsson, and BetAmerica

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Global Online Gambling and Betting Market to Surpass US$ 123.5 Billion by 2026

Related Topics:gambling industry in Europe

George Miller

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Latest News

Prepare to be Amazed in Mythical Legends Carnival, a Mythic Video Slot!

Published

31 minutes ago

January 23, 2025

George Miller

Reading Time: < 1 minute

The new title from leading Spanish e-Gaming provider MGA Games is an innovative game with a truly original theme: a journey through carnival festivities filled with legendary creatures. Its design combines the excitement of street parties with the richness of mythological creatures from around the world, providing a totally unique experience.

This new casino slot features 25 paylines, with winning combinations paid from left to right. By landing 3 or more Scatter symbols, players gain access to the Free Spins screen, which includes an innovative prize system. Players can enjoy an accumulator feature and a final Super Respin spin that awards the accumulated winnings. It also includes Money and Collect symbols, which when combined offer an additional bonus prize.

Global Audience
By showcasing mythologies from all over the world, the game is set to appeal to a global audience, enhancing its market potential and attracting players from various countries. Its visual and auditory elements, featuring vibrant graphics and immersive music, will captivate players and deliver a fully immersive experience in a fantastic world.

In this new release, every spin of the reels will surprise players with its themed symbols. As if that weren’t enough, the game features an optional Buy Free Spins button, speeding up the path to big rewards. Mythical Legends Carnival will be available in all of Spain’s best online casinos starting February 3rd and across .com markets from January 27th.

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Latest News

ZITRO’S EXCEPTIONAL BOOTH MAKES A STRONG IMPACT AT ICE BARCELONA 2025

Published

31 minutes ago

January 23, 2025

George Miller

Reading Time: 2 minutes

Zitro has announced the tremendous success of its participation in ICE Barcelona 2025. The booth itself was a showstopper —spectacular in every sense—drawing widespread admiration from attendees. Described by some as “sending a message,” the booth stood as proof of the company’s ability to deliver innovative products and an unparalleled showcase that reinforced its position as one of the leaders in the global gaming industry.

Visitors experienced firsthand the remarkable progress the company has made in expanding and diversifying its product range. At the forefront of the showcase was the all-new CONCEPT cabinet line featuring Concept Prime, Concept Prime-J, and Concept Deluxe. The event also marked the European debut of Zitro’s latest game lineup for both the CONCEPT and GLARE cabinet lines, which includes Legendary Sword, Fairyland Quest, Lucky Vault, Cash Totems, Triple Charm Journey, Merging Fu Pots, King Fu Frog. among others. Each title introduces different gameplay mechanics paired with high-quality graphics, animations, and sound.

Zitro’s Mega Lounge has demonstrated impressive performance in key markets such as Portugal, Italy, Argentina, Peru, Paraguay, Costa Rica, Greece, and, more recently, Guatemala. At ICE Barcelona, the company unveiled the Grand Mega Lounge that incorporates the CONCEPT cabinet line, featuring existing and new games with both Grand Mega and Mega jackpots.

Zitro also highlighted the success of its Wide Area Progressive (WAP) product line. Recent launches in Panama, Costa Rica, and Peru have generated great enthusiasm, while Argentina saw the debut of Zitro’s first WAP this past December with more than 45 slot cabinets across five gaming halls at the prestigious Hipódromo de Palermo.

Additionally, Zitro announced the expansion of its digital gaming portfolio into the newly regulated Brazilian iGaming market. The division continues to expand its portfolio with new titles and upcoming seasonal games for Valentine’s Dayck’s D and Saint Patriay. It has also introduced various promotional tools to support operators in commercializing its games.

Commenting on the success of ICE Barcelona 2025, Sebastian Salat, President – International at Zitro, stated: “Zitro’s participation at ICE focused on reinforcing its commitment to becoming a global leader, capable of meeting the needs of casino operators anywhere in the world. The event provided an excellent platform to showcase the breadth and diversity of our gaming portfolio and connect with clients. Zitro is deeply grateful for the support received and remains committed to delivering value to operators and players worldwide.”

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Latest News

QTech Games integrates more premium content from JILI Games

Published

31 minutes ago

January 23, 2025

George Miller

Reading Time: 2 minutes

QTech Games, the leading game distributor across all emerging markets, has continued to build the strong momentum in its premium pipeline, thanks to its latest deal with rising-star supplier, JILI Games.

Integrating content from one of the most innovative and creative online slots providers adds yet more creative muscle to QTech Games’ burgeoning platform, which is taking the widest range of online games to emerging territories with established names, such as Playtech and Aviator, sitting alongside the industry’s most exciting up-and-coming providers.

The games made available to its partners via the deal are comprised of popular hits like Super Ace, 3 Coin Treasure, Fortune Gems 3 and Royal Fishing, and recent releases including Golden Bank 2, Lucky Jaguar, Fortune King Jackpot and Lucky Doggy, all of which ride on the back of unique maths modelling that varies the volatility spectrum, helping to foster some truly engaging gameplay.

The deal organically broadens JILI Games’s international footprint, unlocking untapped jurisdictions for diversified growth from Asia to Africa and Eastern Europe to Latin America, powered by the industry-preferred aggregator for emerging markets.Philip Doftvik, QTech Games’ CEO, said: “We’re devoted to rolling out first-class content that drives revenue for our partners. Therefore, this deal with JILI Games extends our impressive sequential pipeline for 2025 – and we’ve so much more to come this year!

“JILI Games delivers world-class slots provision for worldwide players, and are always looking to redefine the existing landscape and bring users a reinvigorating gaming experience with every play, as evidenced by their popular Fortune Gems series.“They’re a growing group of seasoned gaming developers committed to creating the best and most original games in pursuit of continued excellence across video slots, bingo, table games, Fast games and fishing games.”

JA Danika from JILI Games added: “JILI Games prides itself on creating unique gaming journeys, so we’re dedicated to reimagining the slots space with more immersive gaming experiences. Accordingly, teaming up with QTech represents a fantastic opportunity to strengthen our product distribution across emerging territories and deliver our great games to a range of top-tier partners.

“It greatly improves our product distribution across emerging territories, delivering our fantastic games to a range of untapped operators. Powered by the fine-tuned recommendation algorithms of QTech’s game lobby, which cut through the white noise of competing releases and match the right game to the right audience, we look forward to seeing how our titles capture the imaginations of a swathe of new players across emerging markets.”

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