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Online Gambling Market is Rising Due to the Fast Internet Connectivity and Usage of Real Money

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According to Market Research Future, the global online gambling market has been segmented based on game type, device type, end-user, and region/country.

Rapid technological advancements and an increase in the number of gambling users across the globe are some of the factors that are influencing the growth of the online gambling market.

The growth in the adoption of smartphones is transforming the online gambling market as most of the betting and casino consumers are using smartphones to play the games and earn real money. In recent years, online gambling service providers have also incorporated social media platforms, such as YouTube, Facebook, and Instagram to attract new customers.

The adoption of virtual currency such as cryptocurrency in the gambling market by gambling vendors is a major trend in the global mobile gambling market. For instance, the mobile gambling market in Nevada accepts cryptocurrency or virtual money from the players. The integration of virtual money in the gambling market has reduced the risk of security concerns related to cash transactions. The online cash transactions help gambling vendors to distribute the prize money in the form of redeemable coupons, which can be used to play other games as well. It also provides customer spending history to gambling providers who help them to customize their marketing strategy.

The increasing interest of mobile gambling among youngsters, development of infrastructure, increasing foreign investments, legalization of mobile gambling in various countries across the world, and relaxation of government regulations and policies are some of the drivers of the growth of the mobile gambling market.

However, security issues related to online payments in mobile gambling and rising addictive behavior which may affect the low-income population as they may not be able to afford losses, are some of the factors which may hinder the growth of the mobile gambling market. The global online gambling market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Segmentation:

By game type, the global gambling market has been segmented into betting, casino, poker, lottery, online bingo, and others. The casino segment accounted for the largest market share in 2018, whereas the poker segment is expected to register the highest CAGR during the forecast period. This is because online poker is preferred by many players as it offers a variety of games for selection, which is not the case in poker rooms. Also, mobile poker is simple and convenient to use as the player can join the game remotely without being physically present in the poker room.

By device type, the global gambling market has been segmented into mobile and desktop. The mobile segment has the highest market share, and it is expected to register the highest CAGR during the forecast period. This is due to the increasing adoption of smartphones.

By end-users, the global gambling market has been segmented into gambling enthusiasts, social exuberant, and dabblers. The gambling enthusiasts segment accounted for the largest market share, whereas the social exuberant segment is projected to register the highest CAGR during the forecast period. The social exuberant segment includes social media influencers and promoters. These players are highly visible on online gambling platforms, exploring new games online and might be a part of paid promotions by online gambling operators. These players often upload pictures or posts regarding mobile or online gambling on social media.

Regional Analysis:

The Global Online Gambling Market is estimated to register a CAGR of 13.2% over the forecast period. The geographic analysis of the global online gambling market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Europe holds the largest market share as the companies in this region are leading in terms of advanced technologies; furthermore, the region also has favorable government rules and regulations across various countries. Europe has been segmented into the UK, Germany, France, and the rest of Europe. Some of the largest global online gambling companies operating in the market, such as Kindred Group PLC, Bet365, and 888 Holdings have originated in Europe.

The market in Asia-Pacific is expected to register the highest CAGR during the forecasted period (2019–2025) due to the increase in foreign investments and the rising popularity of mobile gambling across this region.

Competitive Dashboard:

The Global Online Gambling Market is witnessing high growth due to the rise in demand from various end-users such as gambling enthusiasts, social exuberant, and dabblers. Major players have opted for partnerships and new product development as their key organic growth strategies and also opted inorganic growth strategies to enhance their positions in the market and cater to the demands of the end-users. In Nov 2017, Stride Gaming PLC, a company based in the UK, acquired an India-based rummy game platform provider, Passion Gaming Private Limited. Stride Gaming, with the advantage of its proprietary technology combined with Passion Gaming, is focusing on creating a highly attractive proposition in the Indian online gambling market. Similarly, in Sep 2018, The Stars Group launched its BetStars online sports betting brand in New Jersey in partnership with resorts, casinos, and hotels. The BetStars platform allows online depositing and withdrawal options, in-game betting, early cash out options, and various bonuses to its users.

Key Players

The Key Players in the Global Online Gambling Market are identified based on their country of origin, presence across different regions, recent developments, product diversification, and industry expertise. These include International Game Technology PLC (US), The Stars Group (Canada), Betsson AB (Sweden), Kindred Group Plc (Malta), Net Entertainment (Sweden), Paddy Power Betfair PLC (Ireland), 888 Holdings PLC (UK), Ladbrokes Betting & Gaming Ltd.(UK), Bet-at-home.com (UK), Bwin. Party Digital Entertainment (Austria), Betfair Group plc. (UK), William Hill Plc (UK), Scientific Games (US), bet365 (UK), VGC Holdings PLC (Isle of Man), Spin Inc. (US), Betway (Europe), and Royal Panda (Europe). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.


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: Online Gambling Market is Rising Due to the Fast Internet Connectivity and Usage of Real Money

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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OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 Grand Finals To Be Hosted In Vegas Mall Dwarka In Delhi

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Leading gaming and esports media company NODWIN Gaming and renowned video game publisher Riot Games has announced that the upcoming OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 LAN Finals will be hosted in Delhi. This announcement follows the successful conclusion of Cup 1 in Pune.

The decision to host the finals in Delhi is part of a strategic effort to expose a broad audience to high-stakes esports competition, capitalizing on the region’s rising enthusiasm for esports. The inaugural Cup of the  OMEN VALORANT Challengers South Asia 2024: Split 1 successfully captured significant attention, drawing an impressive crowd of over 25,000 attendees who watched the champions being crowned at the venue. The event also enjoyed robust online engagement, accumulating more than 700,000 views and more than 100,000 hours of gameplay streamed across various digital platforms. OMEN by HP served as the tournament’s title partner and Philips as the styling partner.

OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 Finals will be held on 18th and 19th May, featuring the top 4 teams, True Rippers, Revenant Esports, MLT Esports and GrayFox Esports battling it on LAN in Vegas Mall, Dwarka in Delhi. The event will be live streamed on NODWIN Gaming’s YouTube channel. Like Cup 1, the grand finals will be a LAN event aimed at providing a thrilling esports experience to the attendees.

Akshat Rathee, Co-Founder and Managing Director of NODWIN Gaming, commented on the choice of Delhi, “The successful completion of the Split 1 is a testament to the growing popularity of esports in the region. We are excited to host Cup 2 Grand Finals in Delhi and aim to provide fans in the region a top notch esports competition where the best teams from across regions compete for the championship title. I would like to sincerely thank our partners for their continued support and for sharing our vision to elevate esports in the region.”

Sukamal Pegu, Esports Lead, India & South Asia, Riot Games, said “The OMEN VCSA is an important platform for us to identify top VALORANT Esports talent from India and showcase them. This year we have seen the competition get more intense with international athletes such as SK Rossi playing in the circuit, giving the fans non-stop entertainment and excitement. The Delhi event will be a cracker!”

Arun Rajappa, Country Manager, India & South Asia, Riot Games, said “We are absolutely elated by the support and enthusiasm that the fans, players and teams of the region have shown to VALORANT. After an exciting Cup 1, we are thrilled to bring Cup 2 to Delhi. We are committed to the growth of esports in the region by fostering the ecosystem and providing more opportunities to fans and players alike.”

This announcement coincides with the conclusion of the VCT Game Changers South Asia Split 1, also hosted by NODWIN Gaming, where MLT Esports was victorious. This tournament is part of a broader initiative to promote inclusivity and provide competitive opportunities for women and other marginalized genders within the VALORANT community.

The Delhi grand finals promise to be a highlight for the VALORANT esports community, offering another chapter of high-level competition in the region.

For further updates and information about the VALORANT Challengers South Asia, follow NODWIN Gaming on social media:YouTube/Instagram/Twitter/Facebook

The post OMEN VALORANT Challengers South Asia 2024: Split 1 – Cup 2 Grand Finals To Be Hosted In Vegas Mall Dwarka In Delhi appeared first on European Gaming Industry News.

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Golden Matrix Group Joins Rio Grande do Sul Flood Relief Program

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Golden Matrix Group (NASDAQ: GMGI), a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets, today announced its participation in the global coalition initiative for flood relief efforts in Rio Grande do Sul, Brazil.

This partnership aims to provide substantial support to the communities in this Brazilian state that have been most devastated by the recent severe flooding.

This initiative is part of the gaming industry’s larger collaboration with local NGOs and humanitarian organizations, marking a significant expansion of our intensive CSR efforts, which saw over 225 community impact campaigns last year alone, primarily through the actions of its subsidiary Meridianbet.

The past week has witnessed unprecedented rainfall in Rio Grande do Sul, turning streets into rivers and isolating entire towns. The current situation remains dire, with hundreds of individuals still unaccounted for, while rescue operations have successfully evacuated over 200,000 residents using boats and helicopters.

The floods have wreaked havoc on infrastructure, with numerous bridges destroyed, severely disrupting access to Porto Alegre. The aftermath of the disaster has also led to looting in supermarkets during the night, adding to the urgency of the relief efforts.

Golden Matrix Group invites its stakeholders and the global community to contribute to this cause.

About Golden Matrix Group

Golden Matrix Group, based in Las Vegas, Nevada, is a leading B2B and B2C gaming technology company utilizing proprietary technology and operating globally across 17 regulated markets. The B2B division of Golden Matrix develops and licenses branded gaming platforms for its extensive list of clients, and RKings, its B2C division, operates a high-volume eCommerce site enabling end users to enter paid-for competitions on its proprietary platform in authorized markets. The Company also owns and operates MEXPLAY, a regulated online casino in Mexico. In 2024, Golden Matrix completed the acquisition of MeridianBet, a well-established and B2B and B2C sports betting and gaming platform operating and regulated in multiple markets in Europe, Africa and LatAm, providing the combined entity with additional international operations.

The post Golden Matrix Group Joins Rio Grande do Sul Flood Relief Program appeared first on European Gaming Industry News.

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Sky Vegas to sponsor new ITV reality show

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Sky Vegas has been announced as the headline sponsor of The Fortune Hotel, a brand new ITV1 reality entertainment show hosted by comic actor, Stephen Mangan, and produced by Tuesday’s Child.

The new series, set in a five-star resort in the Caribbean, is a gripping new format which sees contestants work in pairs to compete against other hotel guests and get their hands on a briefcase containing a life changing amount of money.

10 pairs of contestants will arrive at The Fortune Hotel, where they will be given an all-important briefcase. Inside one case is the ultimate jackpot of £250,000 in cash, while eight are empty, and one contains the dreaded Early Checkout Card – whichever pair is left holding that case at the end of each show will see their stay brought to a dramatic, premature end.

​​G​uests will attempt to figure out who is in possession of the cash case, whilst trying to keep the contents of their own a secret, and viewers will be treated to a blend of suspense, subterfuge and glamour as the duos compete over eight episodes.

Airing on Monday 13 May on ITV1 and ITVX (and STV in Scotland), Sky Vegas’ sponsorship includes 80” of accreditations per episode, spanning Monday-Thursday over a two-week period.

The ​​​​sponsorship deal also includes 10” bumpers around free programme streaming ​ ​content on the ITVX and STV Player, including website and mobile ​​apps*.

​​​Sky Vegas also has rights to include The Fortune Hotel logo and reference to the sponsorship across​ their own​ platforms​,​ including website and social media.

Commenting on the sponsorship, a Sky Vegas ​​spokesperson said: “​The F​ortune ​​Hotel has the potential to be the next big TV hit, and we are incredibly excited that we are going to be a part of this new show with ITV.

“Our customers enjoy fun and entertaining games, so this sponsorship opportunity just made sense. We’re looking forward to watching the show and enjoying all of its twists and turns with the rest of the ​​​​nation.”

Bhav Chandrani, Director of BE Studios, added: “It’s brilliant to be bringing a brand new format to screens and The Fortune Hotel is real shout-at-the-telly fun. It’s going to be full of twists and turns as we get to watch the gameplay unfold.”

The post Sky Vegas to sponsor new ITV reality show appeared first on European Gaming Industry News.

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