Gaming

In-game Gambling and Loot Boxes Market is expected to expand its roots at an average CAGR of 5.6 % between 2022 and 2032

Published

2 years ago

April 7, 2022

Reading Time: 3 minutes

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.

Gaming

FANDOM EXPLORES THE GROWING IMPORTANCE OF GAMING & SELF-EXPRESSION IN 2024 INSIDE GAMING REPORT

Published

7 hours ago

May 21, 2024

GamingAmericas.com

fandom-explores-the-growing-importance-of-gaming-&-self-expression-in-2024-inside-gaming-report

Study Provides New Insights Into How Brands Can Authentically Engage With Gamers to Help Them Express Their Best Selves Off-Screen.

KEY FINDINGS

Gaming has exploded over the past decade, becoming one of the most dynamic and expansive industries across the globe. Fandom, the world’s largest fan platform, dives into the heart of the gaming community to uncover the evolving motivations behind why people game in its 4th annual Inside Gaming report. The 2024 Inside Gaming report – a proprietary study coupled with Fandom’s first-party data from its 350 million monthly unique visitors, 45 million pages of content and 250k fan-powered wikis – captures a notable shift: gaming is increasingly seen as a means for personal expression, exploring one’s identity and providing empowerment and confidence in one’s real life.

Dominant Gaming Motivations

While stress relief remains the top reason people turn to games, a striking 46% of gamers list creation, imagination, and self-expression as their main motivations for gaming, up 10% from last year.

Influence on Gaming Habits

People who are gaming for self-expression, creation & imagination are 30% more likely to increase their gaming time, feeling more drawn to the gaming world than ever before.

Games Driving Self-Expression

60% of gamers claim that self-expression through gameplay is more important to them than ever before. Titles like Minecraft, Fortnite, and Roblox lead in enabling personal expression through extensive customization options, open-world exploration, and other game updates

Exploring Gamer Identity

The report also highlights a significant gap between players’ in-game identities versus their real-life personas, with 80% of respondents feeling their gaming identity differs from their real-life identity.
However, half of respondents claim they’d prefer to be more like their in-game personality IRL and 72% would feel more favorably towards brands that help them achieve this.
This is especially true of 18-34 year olds, multicultural (specifically African American & Hispanic) audiences as well as women and non-binary audiences.

OPPORTUNITIES FOR MARKETERS

Emphasize Self-Expression:

Self-expression is a key driver for gaming engagement. In fact, 32% of gamers want their physical appearance to be more like their in-game appearance.
Brands that align with this motivation can enhance their connection with gamers. For example, this represents an opportunity for fashion & beauty brands to explore dedicated product extensions for gamers looking to explore this self-expression.

Create Brand Safe Spaces:

64% believe that gaming communities are vital safe spaces where they can truly be themselves, presenting opportunities for brands to foster and cater to these communities.

Align with Gamers’ IRL Aspirations

Many gamers wish to integrate their gaming and real-life personas. Brands that help facilitate this integration can achieve deeper consumer relationships.
The study found that 48% of gamers want their IRL skills to be as strong as their gaming skills, opening up an opportunity for brands to explore how they can create ways to provide gamers with products that enhance IRL skills and provide a sense of accomplishment & achievement they get while playing.

“From character customization to cosplay and content creation, video games have empowered gamers to explore, express and enhance their identity – nearly two thirds of gamers claim it’s easier to be themselves with a controller in their hands,” said Stephanie Fried, CMO of Fandom. “With the growing significance of gaming as a means for self-expression and personal evolution, it’s crucial for brands to connect to these motivators to help players bring their gaming personas to life in the real world.”

For an interview with a Fandom executive to discuss the study in more detail, please contact Rachelle Savoia at [email protected].

Methodology:

Fandom surveyed 5,000 entertainment and gaming fans globally to understand the ever changing entertainment landscape. The insights from the study were joined with proprietary insights from Fandom’s first-party platform data of over 350MM users, 45MM content pages across 250K wikis.

Gaming

Flexion Enters into Partnership with Jam City

Published

2 weeks ago

May 9, 2024

Niji Narayan

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Reading Time: < 1 minute

Flexion, the games marketing company, has partnered with Jam City, a leading mobile entertainment company behind some of the world’s highest-grossing and most enduring mobile games, to bring a selection of the publisher’s best-in-class games to the Alternative App Stores: Amazon Appstore, Huawei App Gallery, Aptoide, ONE store, Samsung Galaxy Store, DT Hub and Xiaomi GetApps.

“We are always looking for new opportunities to build our network of global players, and Flexion is a proven partner that will help introduce our award-winning titles to new audiences in the alternative stores,” Curtis Barnes, Senior Director of Publishing Operations for Jam City, said.

“We’re all about helping developers like Jam City reach the full potential of their games. We’re delighted they have chosen us to add revenue and audiences for their games on the alternative app stores,” Jens Lauritzson, CEO of Flexion, said.

The post Flexion Enters into Partnership with Jam City appeared first on European Gaming Industry News.

Gaming

Mobile Games Index: Analysis of 95M Game Interactions Reveals Shifting Engagement Trends, Available Now

Published

2 weeks ago

May 7, 2024

George Miller

mobile-games-index:-analysis-of-95m-game-interactions-reveals-shifting-engagement-trends,-available-now

Reading Time: 2 minutes

The anticipated fourth edition of the annual Mobile Games Index, powered by adjoe and Statista, is now available.

The latest report offers a clear look into the current state of the mobile gaming sector, analyzing the past 12 months of the first-party data from 95 million app interactions across 27 million users. The MGI 2024 reveals what people choose to play on their mobile devices, filling the gap in industry knowledge and enabling game developers and user acquisition specialists to benchmark their products and ultimately target the right audiences with the right content.

Moving forward, it is up to the industry decision-makers to analyze the findings and promptly adapt to the newly-emerged engagement trends from MGI 2024, effectively engaging desired audiences.

A Peek at Shifting Engagement Trends to Capitalize on

Based on predictions from Statista, the overarching trend in the market is its robust growth with a forecasted expansion from $166.1 billion in 2024 to $227 billion by 2028.

Remarkably, Card games are expected to grow the most dramatically at 13.8% a year, nearly doubling their global revenue by 2028. Judging from the engagement charts of MGI 2024, the main driver of growth in this category is Solitaire games. The audience is showing a clear preference for Solitaire – these games hold 7 out of 10 positions in the top list of card games worldwide by time spent with titles from MobilityWare, Gimica, Scopely, and Playvalve, among others.

What allows the market to show revenue growth is the positive changes in global daily time spent. After the dip in engagement highlighted by the last year’s Index, adjoe confirms that average daily sessions have rebounded to 21.5 minutes from 17.3 minutes reported last year, marking a 22% increase.

The most engaged demographic of mobile gamers globally is the 40-49 age group, which has experienced a remarkable 33% increase in daily gaming time, now at 23 minutes daily. The strategies targeted at older demographics over the past 12 months can be deemed successful. However, this has led to a loss of focus on engaging Gen-Z, which has shown only modest growth in time spent.

The MGI also reveals that women are outpacing men in daily gaming time across most genres – as reported for the 4th edition in a row. This consistent and high performance makes the female audience a continuously safer bet when it comes to user targeting.

Another continued trend is the dominance of top publishers such as Supercell, Garena, King, and Playrix, while there’s still space to occupy for smaller publishers. For instance, ForgeGames tops the engagement charts with their game Special Forces Group 2 – capturing over 43 minutes of average daily engagement.

The insights continue in the MGI 2024, going granular to segment and visualize global mobile game engagement data from adjoe by genre, region, and demographic. At the same time, Statista’s extensive market research provides a macro-view of the current and future industry, offering figures for global downloads and revenues with forecasts extending to 2028.

Mobile Games Index 2024 Is Available in Open Access

The MGI 2024 goes deep below the surface of market data and creates a comprehensive snapshot of the mobile gaming industry today. Inside are

For developers and marketers, this report is the green light to benchmark performance against industry leaders and align their products with the rising expectations of mobile gamers. This comprehensive tool is now available for free to inform decision-making and help optimize strategies for short- and long-term actions.

The post Mobile Games Index: Analysis of 95M Game Interactions Reveals Shifting Engagement Trends, Available Now appeared first on European Gaming Industry News.