Latest News

Global Gambling Market Report 2022: Market to Reach $876 Billion by 2026 – Blockchain Emerges to Change the Tide of Fortune for Gambling

Published

2 years ago

September 28, 2022

George Miller

Reading Time: 4 minutes

The “Gambling – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets .com’s offering.

Global Gambling Market to Reach $876 Billion by 2026

The global market for Gambling estimated at US$747.9 Billion in year 2022, is projected to reach a revised size of US$876 Billion by 2026, growing at a CAGR of 3.6% over the analysis period.

The popularity of gambling in the country can be put into perspective by the fact that over 80% of American adults gamble at least once in their lifetime. As a large number of people spending more time on mobile devices, remote gambling developers and platforms are using the option to expand their customer base. Smart devices available on the market allow users to access comprehensive spectrum of mobile gambling games on the go.

Lottery, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach US$372.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Betting segment is readjusted to a revised 4.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $267.5 Billion in 2022, While Asia-Pacific is Forecast to Reach $322.4 Billion by 2026

Given that tourists and locals are key revenue contributors for brick and mortar casinos, revenues plummeted significantly. Unemployment and reduced consumer discretionary income also remain key challenges to a speedy recovery. Also, since a significant amount of money spent on gambling is attributed to slot machines at locations such as hotels and airports, the closures of airports and hotels is affecting revenue generation from these areas.

Lockdowns have resulted significant revenues losses compared to the previous year. For instance, in New Orleans the gambling market has already witnessed more than 60% decline in revenues during the pandemic when compared to the previous years, due to the closures. The casino industry is also impacted by the fact that tourism and leisure sectors along with air travel, which are vital for the industry growth, have been hit hard by the pandemic.

Gambling market in the U.S. is estimated at US$267.5 Billion in the year 2022. Asia-Pacific (including China) is forecast to reach a projected market size of US$322.4 Billion by the year 2026 trailing a CAGR of 4.4% over the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 3.1% and 3.5% respectively over the analysis period.

The post COVID-19 period will offer exciting opportunities for mobile gambling. As mobile devices support advances features and are easy to operate, mobile gambling is an enticing option for gamers. With majority of casino game providers offering plethora of options, it is easier for players to enjoy these platforms anytime, anywhere without waiting to access their personal computers.

Advances in the field of mobile technology coupled with better accessibility and connectivity have enabled a large number of players to participate in remote gambling. With rapid transition from console toward mobile, mobile gambling is poised to emerge a rapid growing platform.

Casino Segment to Reach $153.1 Billion by 2026

In the global Casino Segment, USA, Canada, Europe and Asia-Pacific will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$116.3 Billion will reach a projected size of US$149.9 Billion by the close of the analysis period.

Asia-Pacific (including China) will remain among the fastest growing in this cluster of regional markets and is forecast to reach US$34.5 Billion by the year 2026.

What`s New for 2022?

Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies – Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the digital archives
Complimentary updates for one year

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Influencer Market Insights
Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Gambling: An Accepted & Fundamental Part of Human Culture
% Share of Top Destinations for Gambling Based on Visitor Influx
How the Gaming & Gambling Industries Are Impacted by the Pandemic & What’s the New Normal?
The Gaming Industry Finds Opportunity in Crisis
Gambling is One Segment of the Gaming Industry That is Experiencing Negative Impact of the COVID-19 Crisis. Here’s Why
The Close Relation Between Casinos & Tourism Sharpens the COVID-19 Blow on the Gambling Industry
COVID-19 Impact on Tourism Industry Affects Casino Revenues
Gambling: Definition, Scope & Types
Recent Market Activity
World Brands

2. FOCUS ON SELECT PLAYERS (Total 223 Featured)

888 Holdings PLC
Bet365 Group Ltd.
Flutter Entertainment plc
Betsoft Gaming, LTD
Betsson AB
Boyd Gaming Corporation
Bwin.Party Digital Entertainment
Caesars Entertainment Corp.
Cherry Spelgladje AB
Chetu Inc.
City of Dreams Manila
Creatiosoft Solutions Private Limited
Crown Resorts Ltd.
Delaware Park
Elaunch Solution Pvt. Ltd
Evolution Gaming
Galaxy Entertainment Group
Golden Entertainment Inc.
Kindred Group PLC
Ladbrokes Coral
Las Vegas Sands Corp.
MGM Resorts International
Microgaming
NetEnt AB
Playson Limited
Scientific Games Corporation
SJM Holdings Limited
William Hill Plc

3. MARKET TRENDS & DRIVERS

Mobile Gambling Takes Center Stage
COVID-19 Accelerates the Evolution of Online Casinos
% Share Gross Gambling Yields (GGY) by Type of Gambling
Gambling Apps Contribute to the Rising Popularity of Online Casinos
Online Casinos Attract Broader Demographics
Demographic Structure of Online Casino Players
Cyberattacks Emerge as a Key Concern for Online Casinos
Use of Smartwatches for Placing Bets and Improve iGaming Experience Gains Traction
New Table Games Expand the Consumer Base at Casinos
Blockchain Emerges to Change the Tide of Fortune for Gambling
Big Data & IoT to Transform the Gambling Industry
VR Based Gambling, A Game Changer for the Gambling Sport
5G to Revolutionize the Gambling Industry
5G Emerges With the Promise to Transform the Gaming Experience: 5G’s Contribution to Global GDP (In US$ Trillion) for Years 2020, 2025 & 2030
Crypto Currency Based Gambling Rises in Popularity
Stricter Gambling Regulations Around the Globe Encourages Legal Gambling

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/kai1qu

Latest News

Push Gaming releases a sugary sequel in Retro Sweets

Published

57 mins ago

May 2, 2024

George Miller

Reading Time: 2 minutes

B2B gaming supplier Push Gaming returns to the nostalgic aesthetic of one of 2023’s biggest hits with its latest sequel, Retro Sweets.

Building from the success of Retro Tapes, the slot is again played across a 6×9 matrix but this time swaps audio cassettes with various tasty treats and instant win coins to represent its symbols in this cluster pay outing.

Wild candies make it easier to create winning clusters and also bring the game’s intuitive use of multipliers into play. For each successive win that a wild is a part of, its multiplier increases by 1x while multiplier symbols further increase win potential and provide a progression loop.

Elevating the gameplay further, Retro Sweets introduces the Instant Prize Multiplier which gives regular Instant Prize symbols the potential to form crazy winning clusters.

The now synonymous Cluster Links mechanic also benefits from the sweet collector feature, an augmented version of Retro Tapes’ Magnet mechanic, which gathers all non-clustered coins, symbols and wilds into the same part of the gameboard.

Providing increased player personalisation and amplified replayability, the Push Bet feature allows players to have one or two guaranteed wild candy symbols land on each spin with three needed to enter the bonus round.

Not only does this make entry to the bonus easier, but raises the potential of landing a greater number of wilds – more wilds mean more spins, opportunities to form connecting coins clusters and more maximum wins – continuing the Retro franchise’s synonymity with big prizes.

Retro Sweets blends nostalgic iconography and sound design with innovative mechanics that made the original title a multi-award winner. It follows other notable hits from the studio, including DJ Cat, Samuari’s Katana and Wild Swarm 2.

Senior Game Producer, Ihor Lozinskiy at Push Gaming, said: “Retro Sweets is a mouth-watering, mechanically rich title that amplifies the use of multipliers and offers more ways to win big. The evolved features are set to engage players and allow them to enjoy the slot in a variety of ways, tailored to their play style.

“We’re excited to be expanding upon the success of Retro Tapes and returning to the Cluster Link mechanic for one of our sweetest releases of the year.”

The post Push Gaming releases a sugary sequel in Retro Sweets appeared first on European Gaming Industry News.

Latest News

Department of Trust set to meet challenges of new affordability checks

Published

2 hours ago

May 2, 2024

George Miller

Reading Time: 2 minutes

Department of Trust (dotrust.co.uk), the award-winning provider of financial risk assessments for safer gambling is poised to meet the challenges of the newly announced regulations on frictionless financial checks by the UK Gambling Commission and Betting and Gaming Council.

Under the new rules published by the Gambling Commission, operators have until August 30^th to implement frictionless checks on all customers making £500 net deposits in any rolling 30-day period. These frictionless checks form part of a new regime designed to protect players at risk of financial harm and replace the current ad hoc approach to affordability checks.

Department of Trust also welcomes the interim voluntary code published today by the Betting and Gaming Council (BGC), the standards body representing over 90% of UK-regulated market operators. This code focuses on how responsible operators should support customers spending above the lower threshold set out by the Gambling Commission.

The supplier’s DoTrust Complete solution offers an integrated suite of frictionless and enhanced financial risk checks with a high level of automation capability -the only such tool built solely for safer gambling – and is perfectly positioned to help businesses navigate the newly regulated waters.

Charles Cohen, CEO of Department of Trust, said: “These important announcements flag the end of gambling’s ‘sus law’ where players faced seemingly arbitrary requests for personal information, operators were placed under a significant burden, and no one won

“We now know that in 120 days, every operator will need to perform frictionless checks on all players with net deposits in a 30-day rolling period of £500. A few months later this will fall to a much lower level.

“If operators want to protect their business, keep their customers and reduce costs, smart automation is the only answer.

“Department of Trust has spent over two years building the leading plug-and-play solution specifically for the gambling industry. Complete already automates over 90% of the processes required in both the new LCCP and BGC code. Now we know what the requirement will be, we are today committing to the goal of 100%. We want every operator and player to have instant assessments and sensible decisions cost-effectively. No one needs to lose sleep over this.”.

The post Department of Trust set to meet challenges of new affordability checks appeared first on European Gaming Industry News.

Latest News

Energame appoints Nicholas Tymoshchuk as CEO

Published

2 hours ago

May 2, 2024

George Miller

Reading Time: < 1 minute

Energame, a global business consultancy and investment firm in online entertainment, announces the appointment of Chief Executive Officer Nicholas Tymoshchuk who will provide strategic direction for the company at an exciting time of growth and expansion for Energame and the iGaming industry.

Nicholas’s background includes 15 years of managerial experience and 6 years as a CEO. His career in business spans multiple sectors: energy, tech, real estate and investment management. He has represented international majors, built asset managers from the ground up, scaled up businesses and overseen international M&A.

Nicholas was previously Energame’s Corporate Affairs Director, a role in which he built Energame’s relationships with stakeholders worldwide, helping to steer the company through the industry’s rapidly changing landscape and playing an integral role in strategy, and business development.

Nicholas Tymoshchuk, CEO of Energame said: “Energame has an amazing team and a great entrepreneurial culture. We work across four continents and in some of the most dynamic and fast growing markets in the world. iGaming is one of the largest yet undiscovered industries in the global economy, and we at Energame believe it has an enormous potential. I’m very lucky to be leading our team into our exciting future.”

The post Energame appoints Nicholas Tymoshchuk as CEO appeared first on European Gaming Industry News.