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With 11.4% CAGR, Online Gambling Software Market Size worth USD 158.20 Billion in 2028

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The global online gambling software market size is expected to gain momentum by reaching USD 158.20 billion by 2028 while exhibiting a stellar CAGR of 11.4% between 2021 to 2028. In its report titled “Online Gambling Software Market,” Fortune Business Insights mentions that the market size stood at USD 66.72 billion in 2020.

The increasing demand for smartphones, advancements in internet technology, and rising spending power of users are a few of the factors that contribute towards the market growth of digital gambling. The online gambling software providers are heavily investing and partnering in advanced technologies to enhance the customer experience, which will boost the interest of players. For instance, In September 2020, William Hill Plc. made a partnership with CBS Sports. After their collaboration, the company announced the launch of a wide range of digital content. Few of their offerings for sports bettors and fans are free-to-play games, video programming, and editorial content of William Hill across the CBS Sports Digital landscape.

Industry Developments:

December 2020 – GVC Holdings Plc. partnered with MGM Resorts International to launch an online BetMGM Casino in Pennsylvania. The company offers 140 types of online gambling games for android and iOS users.

Report Scope & Segmentation

Report Coverage Details
Forecast Period 2022 to 2028
Forecast Period 2022 to 2028 CAGR 11.4%
2028 Value Projection USD 158.20 Billion
Base Year 2020
Online Gambling Software Market Size in 2020 USD 66.72 Million
Historical Data for 2017 to 2019
No. of Pages 130
Segments covered Type ; Devices;
Online Gambling Software Market Growth Drivers Ease of Online Payment to Drive Online Gambling Software Market Growth
Rising Adverse Impacts on Mental Health and Bans on Online Gambling May Impede Market Growth

COVID-19 Impact

The outbreak of the coronavirus has affected the global economy adversely. Due to lockdown, land-based gambling arenas were affected severely. The restrictions on public transportation, tourism, and public gatherings, impacted the off-line gambling industry. However, it helped in the dramatic rise in the demand for internet-based gambling. The temporary closure of colleges and the increasing adoption of work from home policies are expected to drive the market. For instance, according to a report published by AlphaBeta Australia, Australia experienced a 67% increase in online betting in April 2020.

Driving Factor

Ease of Online Payment to Drive Online gambling software Market Growth

The increasing adoption of digital payments has made it easier for users and online gambling players. Moreover, using online methods of payment facilities offer a secure and safe mode of transaction, which is boosting this market; therefore, companies are trying to come up with efficient payment methods to attract more games.  For instance, in January 2021, William Hill Plc partnered with Chippewa Indians and Grand Traverse Band of Ottawa to develop its own online and mobile casino app and sportsbook. The app also promises to offer a secure and quick registration process and a wide selection of options to withdraw and deposit funds.

Regional Insights

Greater Head Safety Awareness in North America to Fuel the Regional Market

In 2019, the market size of North America stood at USD 140.6 million owing to more widespread awareness in the region about the importance of wearing helmets while riding two-wheeled vehicles. The region is expected to continue its dominance of the smart helmet market share during the forecast period as manufacturers in the region are constantly developing and launching advanced head safety devices, which are being eagerly adopted by outdoor enthusiasts and motorcyclists.

The market in Asia Pacific is set to experience prolific growth as exponential growth in urban areas and rising affordability of two-wheelers, especially in India and China, is surging the sales of these helmets in the region. In Europe, the regional smart helmet market growth is anticipated to surge in the coming years as the demand for smart wearable devices steadily climbs.

Market Segmentation:

By type, the market is divided into sports betting, casinos, poker, lottery, bingo, and others. By devices, it is fragmented into desktop, mobile, and others.

Based on type, the lottery segment held a market share of 15.1% in 2020. This is attributable to increasing interest in draw-based games among players.

Lastly, in terms of geography, the market is divided into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

What does the Report Provide?

The market report offers a comprehensive analysis of various factors such as the key drivers and restraints that are likely to impact the market growth in upcoming years. The report also provides insights of different regions that are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaborations to contribute to the market growth.

Competitive Landscape

Key Players to Focus on New Application Launches to Strengthen their Market Prospects

The market is consolidated by major companies striving to maintain their position by focusing on new launches, collaborations & partnerships, and acquisitions. Such strategies taken up by key players are expected to strengthen its market prospects. Below is the industry development

List of Key Players Mentioned in the Report:

  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
  • Kindred Group Plc. (Valletta, Malta)
  • William Hill Plc. (London, U.K.)
  • StarsGroup .com (Ontario, Canada)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • Betsson AB (Stockholm, Sweden)
  • Bet365 Group (Stoke-on-Trent, U.K.)
  • LeoVegas AB (Stockholm, Sweden)
  • 888 Holdings PLC (Gibraltar)
  • BetAmerica (California,U.S.)

Major Table of Contents:

  • Introduction
    • Definition, By Segment
    • Research Methodology/Approach
    • Data Sources
  • Key Takeaways
  • Market Dynamics
    • Macro and Micro Economic Indicators
    • Drivers, Restraints, Opportunities and Trends
    • Impact of COVID-19
      • Short-term Impact
      • Long-term Impact
  • Competition Landscape
    • Business Strategies Adopted by Key Players
    • Consolidated SWOT Analysis of Key Players
  • Global Online Gambling Software Key Players Market Share Insights and Analysis, 2020
  • Key Market Insights and Strategic Recommendations
  • Companies Profiled
    • Overview
      • Key Management
      • Headquarters etc.
    • Offerings/Business Segments
    • Key Details
      • Employee Size
      • Key Financials
        • Past and Current Revenue
        • Geographical Share
        • Business Segment Share
  • Recent Developments

FAQ:

How big is the Online Gambling Software Market?

The market is projected to grow from USD 74.17 billion in 2021 to USD 158.20 billion in 2028 at a CAGR of 11.4% in the 2021-2028 period.

How big is Online Gambling Software Market in Europe?

The market in Europe stood at USD 30.92 billion in 2020 and is expected to gain a huge portion of the market share in the coming years.

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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Playtech Announces New Partnership with Progress Play

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Playtech has announced a new long-term partnership with Progress Play, selecting Playtech as their exclusive Bingo provider for their extensive network of brands.

This collaboration marks a significant milestone as Progress Play becomes the first white label network to launch Playtech’s brand new innovative Bingo platform, which went live in December 2024.

This strategic partnership strengthens the existing relationship between Progress Play and Playtech, further cementing Playtech’s Bingo position as the B2B market leader. By joining Playtech’s network, Progress Play will benefit from the largest B2B liquidity in the market, offering a wide variety of networked rooms that are well-known and loved by Bingo players.

As Progress Play embarks on its first-ever Bingo launch, they will work closely with Playtech’s Bingo experts to tailor the product to their specific needs. Playtech’s network management team will provide ongoing support and consultation to ensure the success of the Bingo offering.

The deal also includes a variety of side games featuring content from Playtech’s Eyecon studio, renowned for their industry-leading Bingo slots. Together, the Playtech and Progress Play teams will leverage the liquidity and these games with exciting campaigns already underway.

Marat Koss, VP of Interactive Gaming at Playtech, said: “We are delighted to welcome Progress Play to the Playtech Bingo network. We have enjoyed working together for many years, and we are excited to extend this partnership to Bingo vertical. By joining Playtech’s network, Progress Play will be able to offer a best-in-class bingo experience to their vast pool of players who will benefit from a wide choice of content, attractive prizes and large variety of games. We look forward to a continuing our long and successful partnership.”

Itai Loewenstein, CEO at Progress Play, said: “We are thrilled to extend our partnership and integrate Playtech’s innovative Bingo platform into our offerings. This collaboration allows us to deliver an unparalleled gaming experience and next level entertainment to our players. We look forward to the exciting campaigns we have planned together.”

The post Playtech Announces New Partnership with Progress Play appeared first on European Gaming Industry News.

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IGT Lottery Secures EL Responsible Gambling Certification for the Sixth Consecutive Time

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International Game Technology PLC announced that its Italian subsidiary, IGT Lottery, obtained the European Lotteries (EL) Responsible Gaming (RG) Certification for the sixth consecutive time. Through an agreement between European Lotteries and the World Lottery Association (WLA), IGT Lottery has also obtained WLA Responsible Gaming Certification Level 4, the highest level available.

The EL RG Certification was developed to promote the adoption of RG best practices across EL membership organizations. The EL RG standards are also designed to be complementary to the WLA RG Principles and Framework, allowing companies that meet the implementation of the EL RG Standards to also achieve Level 4 certification of the WLA Framework.

“IGT Lottery achieving responsible gaming recertification by EL for the sixth consecutive time, paired with the highest level of WLA certification, showcases our status as a true global leader in sustainability. ‘Advancing Responsibility’ is vital to our success as a lottery company, and central to our sustainability strategy. We will continue to deliver innovation while operating with the highest level of integrity to protect our people, products and processes,” said Marco Tasso, IGT COO of Italian and International Sales and Operations.

IGT Lottery’s RG programme is guided by international best practices. Consistently updated to meet evolving standards, the programme operates on three macro guidelines: the promotion of a positive approach to gaming, the prevention of underage gambling and support for players who need it.

The EL RG certification was issued following an in-depth examination of IGT Lottery’s tools, activities and processes that comprise its RG programme in Italy. IGT Lottery was found to be fully in line with the international standards established by the EL, which require specific actions to protect players by the gaming operator, reaching a score of 100% for each of ten specified areas.

The post IGT Lottery Secures EL Responsible Gambling Certification for the Sixth Consecutive Time appeared first on European Gaming Industry News.

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Meridianbet Expands B2B Operations into Nigeria, Entering a Regulated $2 Billion Betting Market

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Meridianbet, a subsidiary of Golden Matrix Group, Inc., has officially launched its B2B operations in Nigeria, one of the largest and fastest-growing betting markets in Africa. The company’s entry into Nigeria further strengthens its 20-year presence in Africa, leveraging its proven track record in regulated markets to deliver world-class gaming products.

Through its newly licensed local entity, Masterlive Network Limited, Meridianbet has secured full regulatory approval from the Lagos State Lotteries and Gaming Authority (LSLGA), allowing it to operate in both sports betting and online casino verticals under License No: LSLGA/OP/OSB/MB041124.

The official launch of Meridianbet.ng marks a strategic expansion into a market worth over $2 billion, according to the research of Orange Business Intelligence Technology, with over 60 million Nigerians actively participate in betting, contributing to one of the fastest-growing industries on the continent.

Zoran Milosevic, CEO of Meridianbet, commented: “Our expansion into Nigeria marks a significant step in our long-term strategy to deepen our presence in Africa’s most dynamic gaming markets. With a highly engaged player base and strong industry growth, Nigeria presents a major opportunity for our B2B model. We are committed to bringing our cutting-edge technology, AI-powered betting solutions, and localized expertise to drive long-term success for our partners in the region.”

FY 2024 Revenue Growth & Investor Outlook

Golden Matrix Group has provided a preliminary full-year 2024 revenue estimate of $150 million, reflecting the company’s continued growth trajectory. The Group expects to release its audited FY 2024 financial results in the coming days, offering investors a comprehensive performance overview. The Nigerian market represents a strategic opportunity for future revenue expansion, aligning with GMGI’s global strategy to strengthen its presence in high-growth gaming markets.

Key Market Potential & Strategic Expansion

According to the Orange Business Intelligence Technology (ORBIT), Nigeria’s betting industry surpassed $2 billion back in 2020, with projections indicating up to $4.7 billion in annual revenue potential over the next decade. Football remains the primary driver of market growth, with a vast customer base engaging both online and offline. Meridianbet’s B2B model will provide advanced technology solutions, gaming content, and platform services to local operators, offering a scalable and highly adaptable system tailored to the Nigerian market.

A Strategic Milestone in Meridianbet’s African Growth

With operations in 18 markets across Europe, Africa, and Latin America, Meridianbet has built a reputation as a leading technology provider and betting operator. The company’s expansion into Nigeria follows its long-standing success in established African markets, where it has been a dominant player for over two decades.

The soft launch of Meridianbet.ng is already delivering positive early results, with strong partner satisfaction and excellent customer feedback.

AI-Powered Innovation & Market Expansion

As part of this rollout, Meridianbet is introducing its proprietary AI Sports Betting Recommender and AI Casino Recommender, delivering personalized betting experiences based on real-time data, player behavior, and predictive analytics. These innovations, already proving successful in multiple markets, will enhance customer engagement, retention, and overall user satisfaction in Nigeria’s rapidly evolving gaming landscape.

The post Meridianbet Expands B2B Operations into Nigeria, Entering a Regulated $2 Billion Betting Market appeared first on European Gaming Industry News.

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