Latest News

Here’s a Look at the Top Trends Shaping the Online Gambling Market

Published

3 years ago

August 9, 2021

Reading Time: 4 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.

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)

REPORT SCOPE & SEGMENTATION:

Report Coverage	Details
Forecast Period	2021 to 2028
Forecast Period 2021 to 2028 CAGR	11.4%
2028 Value Projection	USD 158.20 Billion
Base Year	2020
Market Size in 2020	USD 66.72 Billion
Historical Data for	2017 to 2019
No. of Pages	130
Tables, Charts & Figures	92
Segments covered	Type; Devices; and Region
Growth Drivers	Ease of Online Payment to Drive Online Gambling Market Growth
	Restrictions of COVID-19 on Land-based Casinos to Boost Demand for Online Gambling
	Rapid Adoption of Smartphones to Fuel Demand for Mobile Gambling
Pitfalls & Challenges	Rising Adverse Impacts on Mental Health and Bans on Online Gambling May Impede Market Growth

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.

Latest News

Push Gaming and Jokerstar.de partner in Germany

Published

22 mins ago

May 21, 2024

George Miller

Reading Time: < 1 minute

B2B gaming supplier Push Gaming has marked its latest European growth via a partnership with Jokerstar.de in Germany.

A selection of 20 titles from Push’s slot portfolio is now available to the brand’s players, including Jammin’ Jars, Big Bamboo and the iconic hit Razor Shark.

The hugely popular aquatic-themed original, which recently saw the release of a sequel, Razor Returns, still attracts a huge player following in Germany. Razor Shark continues to return incredibly strong numbers at Jokerstar.de and sits at the top of the operator’s most-played chart.

Jokerstar.de is the iGaming arm of established operator The Kling Group. It uses its heritage to curate nearly 200 locations across its home market to establish itself at the forefront of the online sector.

This new partnership with Push is the latest European deal for the studio, which maintains its growth ambitions and raises its profile in one of the continent’s largest gaming markets.

Fiona Hickey, Chief Business Development Officer at Push Gaming, said: “Jokerstar.de is an up-and-coming brand in Germany enjoying ever-increasing success. This growing customer base is ideal to introduce to the Push Gaming portfolio and we’re confident the wide selection of game types and themes will resonate with them.

“Partnering with another important brand in Germany is also a boost to our growth strategy as we look to enhance our standing there and across Europe.”

Nico Müller, Project Manager at Jokerstar.de, added: “Push Gaming’s content is well known among player communities and is in great demand, so it was important for us to offer its incredible games on our platform.

“We’re all about quality at Jokerstar.de and this is personified perfectly in this new partnership. Our players will be impressed with the new titles they can now get their hands on.”

The post Push Gaming and Jokerstar.de partner in Germany appeared first on European Gaming Industry News.

Latest News

Evoplay presents an inferno of blazing riches in Belfry Bliss

Published

22 mins ago

May 21, 2024

George Miller

Reading Time: < 1 minute

Evoplay has rolled out its latest release Belfry Bliss, a sizzling feature-rich slot that showcases the Hells Bells round, awarding multiple money values in conjunction with the hell-raising Dante symbol.

The Devil’s Luck feature comes into play in the base game and free spins as two to three random icons can be replaced by Scatters should just one of them land on a spin. Five Scatters award the maximum of 18 free spins, with four granting 12, and three triggering eight.

Once the free spins bonus is unlocked, the grid changes shape as the five reels are formed by six cells in the middle three rows and three in the outside two, increasing the number of Win Ways from 576 to 1,944.

As free spins progress, the chances of uncovering the Hells Bells mode increase as the Dante symbol makes further appearances, whilst extra free spins are rewarded when more Scatters land.

The Bonus Buy feature is also available in certain regions, allowing players to purchase 8, 12 or 18 free spins from the start of the game.

Ivan Kravchuk, CEO at Evoplay, said: “Belfry Bliss takes players on a voyage to the abyss, where a plethora of features can massively boost win potential on this engaging slot.

“This slot is stacked with multiple ways to win and its vibrant graphics and dramatic gameplay make it a great addition to our portfolio.”

The post Evoplay presents an inferno of blazing riches in Belfry Bliss appeared first on European Gaming Industry News.

Latest News

Relax Gaming levels up with the release of arcade-inspired Line Busters Dream Drop

Published

22 mins ago

May 21, 2024

George Miller

Reading Time: 2 minutes

Relax Gaming is bringing classic 8-bit sprites to the reels in its brand-new arcade-themed release, Line Busters Dream Drop.

This high volatility three-reel slot allows players a chance to win a maximum of 5,000x their stake through a lucrative free spins bonus. The legendary Dream Drop Jackpot can also be triggered at any moment, potentially landing players the €3,000,000 Mega Jackpot.

This super-fast title sees players trigger the free spins bonus whenever arrows on reels one and two are connected with a free spins symbol on reel three. Multipliers on the arrows will multiply and apply to the number of free spins received. During the bonus symbols can be stacked up to five.

The Dream Drop Jackpot is triggered randomly at the start of any spin. Once in the Dream Drop bonus two symbols landing on reels one and two will guarantee a prize. The jackpot level will be determined by the symbol that lands on the third reel.

Those wishing to jump straight into the bonus action can do so by utilising the Buy Feature for the cost of a standard spin. Players can opt to receive extra free spins, or a mystery prize.

Shelley Hannah, CPO at Relax Gaming, said: “We’re excited to add another fast-paced slot to our successful Dream Drop collection. Retro-style slots are hugely popular with players right now, and over the years we’ve delivered some wonderful old-school titles that appeal to players.

“The release of Line Busters Dream Drop is the latest in a line of top-quality themed games and we are confident that this game will be a huge hit thanks to its epic features and strong win potential.”

Established as one of the industry’s leading B2B suppliers, Relax Gaming was awarded GGA’s Product Launch of the Year in February 2023 for Dream Drop Jackpots. Money Train 3 names the 2023 CasinoBeats Game Developer Awards amongst its 6 Slot of the Year titles, while the brand also won the award for Skill Games Supplier at the 2023 EGR B2B Awards along with the Innovation in Mobile award at the 2023 SBC Awards.

Relax Gaming provides more than 4,000 online casino games, from its high-performing proprietary slots to a significant, varied library of content from hand-picked third-party studios via its partnership programmes.

The post Relax Gaming levels up with the release of arcade-inspired Line Busters Dream Drop appeared first on European Gaming Industry News.