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In-game Gambling and Loot Boxes Market is expected to expand its roots at an average CAGR of 5.6 % between 2022 and 2032
The global in-game gambling and loot boxes market is expected to grow at a CAGR of 5.6% throughout the forecast period. The valuation of the industry is projected to reach US$ 32.7 Mn by 2032, from US$ 18.9 Mn in 2022.
The growing desire for high-end real-life sports gaming experiences around the globe is driving the demand for in-game gambling and loot boxes. Furthermore, in the near future, new trends and advancements in the sports and gaming industries are projected to stimulate the rise of the in-game gambling markets. However, payment data security concerns may stifle the in-game gambling and loot boxes market share expansion.
The gambling market is made up of firms (organizations, sole traders, and partnerships) that run gambling facilities such as casinos, bingo halls, video gaming terminals, lotteries, and off-track sports betting that provide gambling services and related items.
The major drivers encouraging in-game gambling and loot boxes market size expansion include factors such as expanding digital transformation among businesses and rising internet and mobile device usage around the world.
The creation of the next-generation gaming experience will be cloud-enhanced, and an ultimate fantasy gaming experience is expected to necessitate the use of a cloud platform.
As per the in-game gambling and loot boxes market study, the deployment of IoT, edge computing, 5G, and real-time analytics enabled by Artificial Intelligence (AI) and Machine Learning (ML) is expected to improve the in-game gambling markets.
Consumers went more to the internet platform to bridge their financial, social, and psychological crises during lockdowns as a result of the COVID-19 pandemic, which had a beneficial impact on the in-game gambling and loot boxes market.
Consumer interest in online gambling platforms has increased as a result of restrictions in sporting events owing to lockdowns, according to a study done by Lund University in Sweden. In addition, numerous operators turned digital in response to the closing of many gaming venues. Many players increased their online gambling services, and bingo providers transferred their operations online, resulting in a beneficial market impact.
Online betting is likely to be the fastest-growing market in the medium term. The market has been taken over by artificial intelligence and machine learning.
During the projection period, the online gambling industry is expected to benefit from an increase in the female population in casinos, as well as the convenience of using a cashless means of payment when gaming. In addition, operators are providing a number of exciting tournaments and promos that newbies may find appealing. Every day, fresh bonus programmes and betting options are added to the mix.
Key Takeaways
- The changing gaming behaviours of consumers are projected to drive demand for gambling. The rising popularity of gambling applications and social gaming is projected to fuel the in-game gambling and loot boxes market’s growth in the future.
- In 2020, Asia Pacific was the largest region in the worldwide gambling market, accounting for 38% of the total. The second largest region, North America, accounted for 29% of the worldwide gaming market. In the worldwide gaming market, the Middle East was the tiniest region.
- Football betting has a substantial market share. Companies are concentrating their efforts on establishing novel platforms to meet a wide range of client needs and gain a competitive advantage in a crowded market.
- The mobile segment of the in-game gambling and loot boxes market is projected to grow at a CAGR of 4.8% during the forecast period.
Competitive Landscape
The worldwide casino gambling market is highly fragmented, with regional and international companies. Bet365, Entain PLC, The Flutter Entertainment PLC, and Kindred Group PLC are among the market’s major participants.
To increase their presence in the worldwide in-game gambling and loot boxes market and to develop their brand portfolio to cater to varied customer tastes, major firms are focusing on mergers and acquisitions, collaborations, and product innovation.
In the global online gaming market, mergers and acquisitions are the most popular approach, followed by expansion. Offerings, quality of gambling material, user experience, brand equity, customized payoffs, and access to numerous platforms are all criteria that key players compete on.
Recent Developments
LeoVegas Group unveiled a new layer of AI-powered messaging in September 2021 to expand the Group’s Safer Gambling service. Customers in the United Kingdom will be the first to get personalized onsite messages based on their behaviour and risk profile that educate and advise them about safer gaming.
DraftKings Inc. and Golden Nugget Online Gaming Inc. signed a formal agreement in August 2021, with DraftKings acquiring Golden Nugget Online Gaming in an all-stock deal. DraftKings was able to make use of Golden Nugget’s well-known brand, iGaming product experience, and combined database of more than 5 million customers as a result of the acquisition.
FanDuel Group, a subsidiary of Flutter Entertainment PLC, debuted its FanDuel Casino in New Jersey and Michigan in July 2021. Customers may now play live dealer blackjack, roulette, and baccarat at FanDuel Casino.
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Bulletin from Kambi Group plc’s Annual General Meeting 2024
Kambi Group plc (Company Registration Number C49768) having its registered address situated at Avenue 77 Complex, A4, Triq in-Negozju, Zone 3, Central Business District, Birkirkara, CBD3010, Malta (the “Company”) held its Annual General Meeting on 21 May 2024 at its registered office (the “Meeting”).
Fourteen resolutions were presented to the Meeting. Twelve ordinary resolutions (resolutions a – l) were approved:
- Annual Report and the Financial Statements of the Company for the year ended 31 December 2023 were approved
- Remuneration report for the year ended 31 December 2023 was approved
- Number of Board Members 2024 was approved
- Board Members’ fees 2024 were approved
- Anders Ström, Patrick Clase and Marlene Forsell were re-elected as Directors
- Kristian Nylén and Benjie Cherniak were appointed as additional new Directors
- Anders Ström was appointed Chairman
- Guidelines on the appointment and composition of the Nomination Committee were approved
- Mazars Malta were re-appointed as external auditors
All two extraordinary resolutions, resolutions m and n, obtained one majority of two required in terms of Clause 135 of the Companies Act (Chapter 386 of the Laws of Malta), and in terms of Articles 48B.2(b) of the Articles of Association of the Company. To this end, an Extraordinary General Meeting is being convened within 30 days of today’s Annual General Meeting, as per proviso in same Clause and Articles, to take a fresh vote on the proposed resolutions.
The Board extends its gratitude to Lars Stugemo and Cecilia de Leeuw for their dedicated service and contributions.
By order of the Board
Sarah Fenech
Company Secretary
The post Bulletin from Kambi Group plc’s Annual General Meeting 2024 appeared first on European Gaming Industry News.
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UK fans able to bet on OKTAGON MMA with SkyBet after betting market debut on William Hill
UK fans are now able to get even more involved with OKTAGON MMA, after news broke that fans can bet on Europe’s leading MMA promotion with SkyBet.
Although fans can already bet in the UK via William Hill, the move to SkyBet opens up the market even further for fans wishing to get involved with the action.
OKTAGON has made significant strides to get more involved with its ever-growing UK fanbase, with the first ever show on these shores in November 2023 at the AO Arena in Manchester.
On the back of that success, OKTAGON returned twice in 2024; the first coming at the Utilita Arena in Newcastle in January, before an enthralling night at the Resorts World Arena in Birmingham in April.
OKTAGON MMA co-owner Pavol Neruda commented: “We are really pleased that our fanbase in the UK and Ireland can now engage even further with OKTAGON MMA.
“SkyBet is an extremely well-respected platform, and this exemplifies the growth of OKTAGON MMA in the UK and Ireland, a market where we have dedicated significant effort to expand, and shine a light on up-and-coming MMA talent.”
UK fans can place their first bet via SkyBet for the next OKTAGON tournament, when the organisation lands in Prague at the spectacular Fortuna Arena for OKTAGON 58 for the blockbuster rematch between Karlos Vemola and Attila Vegh in front of 27,000 fans.
The post UK fans able to bet on OKTAGON MMA with SkyBet after betting market debut on William Hill appeared first on European Gaming Industry News.
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BF Group Launches Enhanced Platform for Sports Betting and Casino Operators
BF Group, a leading innovator in the gaming and betting industry, proudly announces the launch of the latest version of their comprehensive platform designed for sports betting and casino operators. This new iteration stands out with its cutting-edge design solutions, leveraging a headless approach to ensure seamless and modern operations.
The platform is already live with BF Group’s clients, including the leading Polish sportsbook operator, LV BET.
Marcin Doszczecko, CEO of LV BET Poland and Latvia, shared his enthusiasm: “After the initial tests, we are thrilled to be part of the pilot phase of BF Group’s new platform. We’ve observed significant improvements in operational flow and profitability. The feedback from our VIP players has been overwhelmingly positive, underscoring the platform’s quality and effectiveness.”
Wiktor Grabarczyk, CEO of BF Group, commented: “We continually develop our platforms and other products, but the improvements in this iteration are so significant that we present it as a new stage in our product evolution. We are pleased to provide our partners with an even better tool, ensuring operators and their players have a comfortable and enhanced experience with our sports betting products.”
The post BF Group Launches Enhanced Platform for Sports Betting and Casino Operators appeared first on European Gaming Industry News.
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