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Online Gambling Market to Touch USD 158.20 Billion by 2028; Soaring Popularity of Virtual Gaming Platforms to Catalyze Market Growth: Fortune Business Insights™

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Fortune Business Insights
Fortune Business InsightsReading Time: 3 minutes

The global online gambling market size is projected to reach USD 158.20 billion by 2028, exhibiting a CAGR of 11.4% during the forecast period. This information is given by Fortune Business Insights™ in a new report, titled, “Online Gambling Market, 2021-2028.”  As per the report, the market was USD 66.72 billion in 2020.

Quick Adoption of Online Gambling amid COVID-19 to Boost the Market

The global health and economic crisis triggered by the COVID-19 pandemic forced governments in several countries to impose strict lockdowns and social distancing measures. Companies rapidly adopted remote working models, leading to huge portions of working populations working from home. With most non-essential services and places, including casinos, being closed down, gamers and gamblers have swiftly shifted to virtual platforms, boosting the online gambling market growth in the process. For example, an article published by New York University revealed that digital gambling platforms have gained speedy momentum in Canada after the coronavirus broke out. In Australia, according to a report by Concordia University, Canada, spending on online casinos rose sharply by 67% in April 2020. The coronavirus pandemic has, thus, proved favorable for this market, enabling it to register a healthy CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.

Market Segments

Based on type, the market has been classified into sports betting, casinos, poker, lottery, bingo, and others, with the lottery segment holding a share of 15.1% in the global market and a share of 15.4% in the UK market in 2020.

On the basis of devices, the market segments include desktop, mobile, and others. By region, the market has been divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Highlights of the Report

The report offers a granular examination of the various factors shaping the growth trajectory of the market, as well as a holistic analysis of the hindrances obstructing the market. Furthermore, a microscopic study of the regional and competitive dynamics influencing the market has also been provided in the report, along with an in-depth assessment of the individual market segments. The insights contained in the report are based on industry-leading research conducted through primary, secondary, and tertiary sources.

Driving Factor

Introduction of Sophisticated Technologies in Virtual Gambling to Fuel the Market

Advanced, intelligent technologies, such as artificial intelligence (AI) and blockchain, are being increasingly employed by online gambling platforms to ensure a secure and safe space for enthusiasts. Heralding this trend are startups that are developing and offering novel gambling platforms powered by smart technologies. For example, Edgeless, which was started in 2018, became the first Ethereum-based virtual casino that uses distributed ledger technology to ensure payouts. Similarly, Tombola is a popular lottery and gambling platform driven by cryptocurrency and other blockchain-enabled tools. Another example is the Canada-based startup, Quarter4, which leverages AI to offer simulations, content, and predictions for sports bettors. The incorporation of new-age solutions in digital gambling is, thus, opening new pathways of development for this market.

Regional Insights

Europe to Headline the Global Market, Forecasts Fortune Business Insights™

Europe is expected to dictate the online gambling market share during the forecast period on account of the heavy investments being made by sports enthusiasts across the continent in online sports betting. Moreover, a healthy betting culture in Europe will further bolster the prospects of the market in the region. In 2020, the Europe market size stood at USD 30.92 billion.

The presence of secure connectivity infrastructure and strong gambling regulations will propel North America in the second-leading position in the market in terms of revenue generation. On the other hand, growing investments in online gambling in South America, driven by regulations in Colombia and Argentina, are anticipated to speed up the expansion of the market in this region.

Competitive Landscape

Key Players to Strengthen Businesses through Innovative Collaborations

With online gaming picking up pace amid the COVID-19 pandemic, key players in this market are entering into strategic collaborations with gambling industry giants to deepen their market footprint. These companies are engaging in developing innovative online gambling platforms to attract gamblers and gain momentum in this rapidly evolving market space.

Industry Developments:

  • December 2020: BetMGM launched the BetMGM Casino in Pennsylvania, with an aim to bring its online gambling portfolio to players in the state. The platform will offer sophisticated mobile casino games, which will be available on iOS, Android, and desktops.
  • February 2020: CBS Sports and William Hill inked a deal under which William Hill will become the exclusive provider of Wagering Data and Sports Book across all CBS Sports platforms. The partnership will integrate sports betting, media, and technology to enhance fan engagement.

List of Key Players Covered in this Market Report:

  • Slots Heaven Casino (Slots Heaven Casino)
  • Sky Betting & Gaming (Leeds, United Kingdom)
  • SPIN Casino (Canada)
  • DraftKings Inc. (Massachusetts, United States)
  • Betfred (Warrington, United Kingdom)
  • BetAmerica (California, United States)
  • LeoVegas AB (Stockholm, Sweden)
  • Betsson AB (Stockholm, Sweden)
  • StarsGroup.com (Ontario, Canada)
  • Kindred Group Plc. (Valletta, Malta)
  • Mansion Casino (Gibraltar)
  • Evolution Gaming AB (British Columbia, Canada)
  • Scientific Games Corporation (Nevada, United States)
  • Buffalo Partners (New York, United States)
  • bet-at-home.com AG (Germany)
  • 888 Holdings PLC (Gibraltar)
  • Bet365 (Stoke-on-Trent, United Kingdom)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • William Hill Plc. (London, United Kingdom)
  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)

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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Betandyou shortlisted for three international awards

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Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.

Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.

Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.

The Betandyou team commented on these nominations:

“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.

The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.

Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.

The post Betandyou shortlisted for three international awards appeared first on Gaming and Gambling Industry Newsroom.

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Latest News

Betandyou shortlisted for three international awards

Published

on

Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.

Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.

Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.

The Betandyou team commented on these nominations:

“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.

The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.

Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.

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MENA Emerges as Global Growth Engine for Blockchain Gaming, BGA 2025 Report Finds

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The Middle East and North Africa (MENA) has emerged as the fastest-rising region in blockchain gaming, now representing nearly one-fifth of all industry professionals surveyed by the Blockchain Game Alliance (BGA), according to the newly released 2025 BGA State of the Industry Report.

The findings were unveiled on stage at the Global Blockchain Show Abu Dhabi 2025 by Sebastien Borget, Co-President of the BGA and Co-Founder of The Sandbox, during a panel discussion titled ‘Web3 Gaming’s Big Bet’ with Yat Siu, Chairman of Animoca Brands, and Cathy Hackl, CEO of Future Dynamics, moderated by Wissam Younane, CEO, Entrepreneur Middle East.

“Sharing this year’s BGA State of the Industry Report in Abu Dhabi shows the promise and huge potential of blockchain gaming’s next phase, and MENA’s rapid growth is a big signal that new regions around the world are stepping into leadership roles,” said Borget. “What we’re seeing in the data is an industry becoming more global, more disciplined, and more focused on building great games for real players.”

MENA’s representation has surged from virtually no presence in the survey sample just five years ago — under 1% in 2021 — to 19.8% of respondents in 2025, marking the most pronounced regional shift since the survey began. When combined with Africa’s steady growth, rising from 0.5% in 2021 to 5.5% in 2025, the two regions now account for more than a quarter of all global responses to the survey.

This momentum reflects a broader realignment in the gaming and technology landscape. MENA has become one of the world’s fastest-growing gaming markets, underpinned by a youthful, digitally-native population and extensive government investment into gaming, esports, and digital infrastructure. As global capital increasingly flows into the region through strategic acquisitions, large-scale development initiatives, and major esports events, blockchain gaming’s rising professional footprint signals that MENA is actively shaping the future of the sector.

The BGA’s growth across MENA and Africa has been strongly attributed to the leadership and regional advocacy of Yasmina Kazitani, who was elected by the BGA membership as the organization’s first female Co-President in March 2025.

An Algerian-born ecosystem builder with deep ties across both regions, Kazitani has focused on community partnerships and grassroots outreach in emerging markets, broadening participation while championing access for previously underrepresented groups. She is also a long-standing advocate for gender diversity and inclusion as Co-Founder of the Women in Web3 Alliance, working to reduce barriers to entry and elevate female leadership within the industry.

“The survey results reflect what we see on the ground: new communities with new talent and stewardship,” said Kazitani. “With more voices entering the conversation, we are reminded that diverse representation is essential because this is what influences the ideas, products, and priorities that will define our industry’s next phase. A broader range of perspectives strengthens decision-making, contributes to a more resilient ecosystem, and ultimately underpins a global industry that better reflects its players and creates games that resonate across cultures.”

This increasing focus on diversity and broader participation was reflected directly in the survey methodology itself. For the first time, the BGA survey was offered in multiple languages beyond English, resulting in nearly a quarter of responses being submitted in other languages including French, Spanish, Portuguese, and Japanese, with the majority received in Arabic. This expansion has provided a more accurate picture of industry participation while lowering barriers to inclusion in non-English-speaking markets.

Beyond its geographic findings, the report provides a comprehensive snapshot of a maturing industry navigating a challenging market environment. Respondents highlight rising confidence in regulatory clarity as a key driver of growth, alongside an increasing focus on high-quality game development and sustainable business models. At the same time, industry professionals identify scams and fraud as the greatest threats to credibility, funding scarcity as the most pressing operational constraint, and AI-enabled exploitation as a growing concern.

 

Key takeaways from the BGA 2025 State of the Industry Report are highlighted below:

Respondent Demographics

  1. 19.8% of respondents come from the Middle East and North Africa (MENA), up from under 1% in 2021.

  2. 22.7% female participation marks the highest level recorded in the survey’s history.

  3. 32.6% of respondents work in studios or publishing, dominating industry representation.

Industry Drivers

  1. 64.4% expect policy and regulation to have a positive impact on industry development.

  2. 29.5% cite high-quality game launches as the primary driver of future industry success.

  3. 27.5% point to sustainable, revenue-driven business models as a key growth factor.

Industry Challenges

  1. 36.0% view scams and fraud as the greatest threat to industry credibility.

  2. 32.6% report lack of funding or investment as their company’s biggest operational challenge.

  3. 38.9% fear AI-enabled cheating, bots, and exploits as the largest risk of AI adoption.

The post MENA Emerges as Global Growth Engine for Blockchain Gaming, BGA 2025 Report Finds appeared first on Gaming and Gambling Industry Newsroom.

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