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Global Online Gambling Market Size Worth USD 73.45 Billion By 2024: Hexa Research

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Global Online Gambling Market Size Worth USD 73.45 Billion By 2024: Hexa ResearchReading Time: 2 minutes

 

The global online gambling market size is anticipated to reach USD 73.45 billion by 2024 owing to rising prevalence gambling across the globe. Technological advancements and addition of new regulations are expected to boost market demand over the forecast period. Furthermore, growing adoption of smartphones and tablets and easy access to online platforms are anticipated to drive the market.

Companies are focusing on developing mobile applications with secure money transfer facilities so that punters can easily place their bets online in real time. For instance, companies such as Bet365 Group Ltd., Paddy Power Betfair plc., and Betsson AB have mobile applications on different platforms such as iOS and Android. Moreover, a number of countries are legalizing gambling with each passing year. For instance, in December 2016, the parliament of Japan passed a law to legalize casinos after holding it for 15 years.

In 2016, the sports betting segment led the market and accounted for more than 40% of the revenue. It comprises various sports tournaments such as cricket, basketball, tennis, and other games. For instance, the sports betting segment turnover for Bet365 Group Ltd. went up by USD 2.3 million in 2016 owing to increasing football tournaments and cricket leagues. Increasing number of people betting on such events and easy accessibility to online gambling websites and applications are anticipated to present considerable growth opportunities for the market.

The online gambling and betting industry is anticipated to grow at a faster pace due to favorable regulatory environment. Moreover, rising disposable income of consumers and adoption of Internet-based devices are increasing revenues of the online gambling market worldwide. However, certain regions are likely to record sluggish growth due to strict government regulations, thus affecting overall revenue generation.

Europe dominated the market in 2016, valuing USD 16.42 billion in the market. This is due to the fact that online gambling is legal in a large number of countries such as France, Germany, and Italy. Countries such as U.K. and Germany have well-developed technology and infrastructure. Moreover, they have witnessed increased usage of smartphones and tablets for playing online gambling games on applications provided by companies such as Betsson AB and Bet365 Group Ltd.

The global online gambling industry is highly fragmented in nature and is marked by presence of several players operating across the world. Companies are focused on expanding their presence in the market through various strategic alliances such as diversification in online services.

For instance, in August 2015, Paddy Power announced a merger with Betfair for Euro 5 billion in order to increase its penetration in the online market and overcome regulatory hurdles. Key companies in the online gambling market include William Hill plc.; Bet365 Group Ltd.; Paddy Power Betfair plc.; Betsson AB; Ladbrokes Coral Group plc.; Amaya Inc.; 888 Holdings plc.; Sky Betting & Gaming; Kindred Group; and GVC Holdings plc.

Hexa Research has segmented the online gambling market report based on type and region:-

  • Segmentation by Type
    • Sports Betting
    • Casinos
    • Poker
    • Bingo
    • Others
  • Segmentation by Region
    North America
    • U.S.
    Europe
    • U.K.
    Asia Pacific
    Australia
    • Central & South America
    Africa
  • Key Players Analyzed:
    William Hill plc.
    • Bet365 Group Ltd.
    • Paddy Power Betfair plc.
    • Betsson AB
    • Ladbrokes Coral Group plc.
    • Amaya Inc.
    • 888 Holdings plc.
    • Sky Betting & Gaming
    • Kindred Group
    • GVC Holdings plc.

 

About Hexa Research:

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.


Source: Latest News on European Gaming Media Network

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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Gaming Americas Weekly Roundup – June 16-22

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

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PrizePicks announced it has been Certified by Great Place To Work for the first time — a prestigious recognition based on employee feedback about their experience working at the company. Great Place To Work is the global authority on workplace culture, employee experience and leadership behaviours proven to drive business performance. According to Great Place To Work research, job seekers are 4.5 times more likely to find a great boss at a Certified workplace. Team members at Certified companies are 93% more likely to look forward to coming to work and are twice as likely to feel they are paid fairly and have equal opportunities for advancement.

The Michigan Gaming Control Board has issued cease-and-desist orders to five illegal online gambling operators—BoVegas Casino, BUSR, Cherry Gold Casino, Lucky Legends and Wager Attack Casino—after discovering they were targeting Michigan residents without proper licenses. These operators are violating Michigan’s Lawful Internet Gaming Act, the Michigan Gaming Control and Revenue Act, and the Michigan Penal Code. The MGCB’s investigations found that these sites have been accepting wagers and deposits from Michigan residents on sports events, slots, blackjack and other casino games—all without the oversight and safeguards required by law. Players using these platforms face unreliable payouts, unfair gaming practices and have no legal recourse in case of disputes.

ZOOT, a sweepstakes gaming platform bringing video game sensibilities to iGaming entertainment, announced it has raised $6 million in seed funding led by CoinFund, one of the world’s first cryptonative investment firms, with participation from Griffin Gaming Partners to expand the current US-focused business to a global-facing, stablecoin-driven one. The investment further grows the opportunities for instant, borderless payments in digital entertainment as stablecoin adoption surges past $239 billion in circulation, with payment giants like Visa and PayPal racing to integrate crypto rails for faster, cheaper transactions. ZOOT is building an iGaming platform that pioneers a new approach to iGaming that combines the engagement of video games with the efficiency of blockchain-based payments.

Partnerships

Maverick Games has launched sports betting operations in Ontario, through a partnership with Delasport. Maverick Games will offer Ontarian players a premium sports betting experience, built on Delasport’s superior technology and known for its unique innovative features that players love including personalisation, recommendations, gamification, quick bets, player engagement features and more. Maverick Games is the second brand to launch on Delasport’s technology in Ontario, with another full turnkey brand set to go live soon. Delasport also recently unveiled its innovative sports betting jackpot network game, SuperPot.

International Game Technology PLC announced that it recently signed a new, three-year sports betting technology agreement with Boyd Gaming Corporation. Under the terms of the agreement, IGT’s award-winning PlaySports platform will continue powering Boyd Gaming’s retail and mobile sports betting offering in Nevada through August 2028. The new agreement builds on IGT and Boyd Gaming’s long-standing sports betting technology partnership that started in 2018. In addition to using the IGT PlaySports platform, Boyd Gaming will continue to offer IGT’s PlaySports Kiosks at its 10 retail betting locations across Nevada.

The post Gaming Americas Weekly Roundup – June 16-22 appeared first on European Gaming Industry News.

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pawaTech strengthens its integrity commitment with membership of the International Betting Integrity Association

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Partnership with the leading global monitoring body reinforces pawaTech’s efforts to combat betting corruption

pawaTech, a leading sportsbook provider in Africa that licenses the betPawa brand, which is available in 17 African countries, has joined the International Betting Integrity Association (IBIA). The partnership will see betting integrity data from pawaTech’s sportsbook trading operations contribute to IBIA’s global monitoring and alert network, which tracks over $300 billion in annual betting turnover across more than 140 brands. The move reinforces pawaTech’s commitment to responsible betting, fraud prevention and safeguarding sports betting integrity across Africa.

Juri Sidorenko, CEO of pawaTech said: “Joining IBIA reflects our commitment to fair play, integrity and safer betting. We are proud to support a trusted ecosystem that makes betting more secure, transparent and player-friendly across Africa.”

Khalid Ali, CEO of IBIA, said: “We are thrilled to welcome pawaTech to IBIA. The company’s unique African operational footprint and technology infrastructure bring valuable regional market knowledge and monitoring coverage to our association. This partnership further strengthens our global network and supports our shared goal of protecting the integrity of sport and regulated betting markets.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and was established by operators, for operators, to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets. Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts; this data is only available to IBIA and its members.

 

The post pawaTech strengthens its integrity commitment with membership of the International Betting Integrity Association appeared first on European Gaming Industry News.

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Boomerang Partners and AC Milan: celebrating a year of legendary partnership at iGB L!VE 2025!

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Boomerang Partners is set to attend one of the industry’s most anticipated events, iGB L!VE 2025, in London on July 2-3. The brand will be represented by its stand, F50, which is open to everyone to learn about its products and explore mutually beneficial collaborations.

Anniversary of strategic partnership

The highlight of Boomerang’s participation in the event will be the celebration of the anniversary of its strategic partnership with the famous football club AC Milan. The announcement of the partnership quickly became one of the most talked-about stories in the industry. AC Milan legends, including Serginho and Massimo Ambrosini, have supported Boomerang at various industry events throughout the last year and held match ticket draws. In May, football icon Andrea Pirlo presented prizes to the winners of the Golden Boomerang Awards 2025 in 11 categories at San Siro.

Boomerang invites all iGB L!VE 2025 guests to visit stand F50 to join in the celebration in a unique atmosphere filled with surprises.

Boomerang Arena – A space without limits

At iGB L!VE 2025, Boomerang Partners will unveil a new stand concept, the Boomerang Arena. The brand teasingly promises that no one has ever seen anything quite like this, so it’s better to drop by the booth to avoid regretting the missed opportunity. It will be a lively, vibrant, modern symbiosis of sport and affiliate technology innovation.

As the football world enters transfer season, Boomerang takes on the role of manager, assembling a Dream Team of its top partners. By visiting the F50 stand, you can sign a virtual contract to receive your card and become a “player”. Each partner contributes to the common cause and leads the team to victories.

The atmosphere at Boomerang Arena will be unique. Visitors will be treated to interactive exhibits, live football match streams, and creative animations. They will be able to compete in the Penalty Challenge with the grand prize of a trip to the Milan derby between AC Milan and Inter. More details soon!

Anton Eshtokin, Chief Marketing Officer of  Boomerang Partners, commented:

AC Milan is our strategic partner, and we are very pleased with the first year of our collaboration. It represents an effective symbiosis between sport and high technology, and has attracted well-deserved attention to our brand. We are confident that both AC Milan and Boomerang have many victories and high achievements ahead. Live without limits – that’s about us!”

Boomerang Partners invites all partners, media representatives, and the brand’s friends to celebrate the anniversary of its strategic partnership with AC Milan and experience the energy of football at the Boomerang stand F50.

About Boomerang

Boomerang Partners is a rapidly growing global brand offering a wide range of services. Boomerang is the Official Regional Partner of AC Milan and collaborates with women’s football star and influencer Alisha Lehmann. In 2024, it launched the inaugural Golden Boomerang Awards 2024, the first annual global affiliate tournament. Six new products were launched by Boomerang in 2024, which contributed to an almost 1.5-fold increase in product users.

Boomerang’s portfolio contains 15+ brands offering affiliate and entertainment services across 40+ markets, with 24/7 multilingual support, in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.

The post Boomerang Partners and AC Milan: celebrating a year of legendary partnership at iGB L!VE 2025! appeared first on European Gaming Industry News.

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