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A Swell of Support Helps Expand the Online Betting Industry
The sports betting market continues to gain popularity among people of all generations, especially as online betting is gradually becoming more mainstream. To illustrate the importance of this segment, data provided by a Zion Market Research report indicates that sports betting holds about 70% of the global gambling revenue, which is more than any other sectors, including those of lotteries, casinos, and poker, among other forms of gambling. As for which sports are the most popular, various games around the world are common among the sport betters, but European football attracts the greatest betting revenue, and is then closely followed by baseball. Of course, it has to be noted that numerous technological developments have helped propel the market to new highs. The stronger presence of online betting has completely transformed the process of sports betting, making it easier, faster and more convenient to place bets. On the other hand, the strict regulations by various governments are still an obstacle for the online market. Nevertheless, according to the report, the global sports betting market was valued at around USD 104.31 Billion in 2017 and is expected to reach approximately USD 155.49 Billion by 2024 while growing at a healthy CAGR of 8.83% between 2018 to 2024. FansUnite Entertainment Inc. (CSE: FANS), GAN Limited (NASDAQ: GAN), Boyd Gaming Corporation (NYSE: BYD), International Game Technology PLC (NYSE: IGT), Scientific Games Corporation (NASDAQ: SGMS)
Despite legal restrictions, regionally and country wise, in 2018 the market had already produced more than USD 48.9 Billion in worldwide revenue and is projected to expand past USD 134.5 Billion by 2027, according to data provided by Transparency Market Research. After the landmark Supreme Court ruling in 2018, in which the court struck down the ban on sports betting, all states got the option to pursue legalization. The state of New Jersey was the first to make sports betting legal. Other states followed, but California remains a legal battle ground for this gambling segment. However, a change might be possible this November. State Senator Bill Dodd (D-Napa) and Assembly Member Adam Gray (D-Merced) have been working on an amendment to the state’s constitution that will go on the ballot in November, if it can get through both houses. “I think the leagues themselves are really the experts when it comes to keeping integrity of the games,” Assembly Member Gray explained in a report by NBC Sports Bay Area. “Obviously, in our proposal we’ve banned any high school sports betting and as we put the finishing details on this over the next few weeks it’s going to be important that those leagues engage with us on those final details to make sure that we have the highest quality product with the highest quality standards. And although they have been a little timid, I know that many out there in the sports world know that the future of the sports economy could be integrally tied to the success of sports wagering, fantasy sports and other activities.
FansUnite Entertainment Inc. (CSE: FANS) and Askott Entertainment Inc. just announced breaking news that two companies, “have entered into a definitive amalgamation agreement (the “Agreement”) to create one of Canada’s leading online gaming companies, focused on sports betting, esports wagering and casino games. Under the terms of the Agreement, FansUnite will acquire all of the outstanding securities of Askott by way of a three-cornered amalgamation (the “Transaction”) pursuant to which Askott and a newly incorporated subsidiary of FansUnite will amalgamate under the Business Corporations Act (British Columbia) and continue as one corporation.
Combined Company Highlights
Expanded Consumer Base. The combined FansUnite and Askott will have four live business-to-consumer (“B2C”) platforms that have generated over CDN$350 million in wagers since inception and will have over 300,000 registered members;
Expanded Business Base. FansUnite and Askott will have four executed business-to-business (“B2B”) contracts, two of which are currently live and generating revenue with leading esports companies;
Expanded Betting Offerings. Two esports themed casino games which will be released on multiple casino games aggregators platforms this year with more games currently in development;
Increased Gaming Licenses: Applications have been completed for gaming licenses for B2C and B2B;
Established History of Operations: Askott has been in business since 2013, working closely with tier 1 partners around the world; and
Highly Accomplished and Experienced Team: The completion of the Transaction will add a team with decades of experience in esports, sports betting, casino, poker, licensing, government relationships and transactions to develop shareholder value.
According to a recent report by Grandview Research1, the global online gambling market size was valued at USD 53.7 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027.
‘As the online gambling market continues to grow, the amalgamation with Askott is a significant milestone and transforms us into one of Canada’s premier iGaming companies,’ said Darius Eghdami, CEO of FansUnite Entertainment. ‘Combining with Askott provides us with a fully integrated gaming asset that offers multiple B2C platforms for users in a variety of betting offerings, B2B technology that can be licensed to all types of sportsbooks, and a seasoned team of executives that have led and grown multiple organizations on a global scale. This combination creates a leading online igaming company, and positions us strongly for significant growth with new offerings and market opportunities.’
‘We are recognized globally as a leader and pioneer in esports betting technology,’ said Scott Burton, CEO of Askott Entertainment. ‘As an early entrant in the sector we have already had a number of milestones, including, the launch of the first ever daily fantasy site dedicated to esports, the first esports betting site to receive an Isle of Man license gaming license in 2017 and more recently being shortlisted by EGR Magazine for the Esports Betting Supplier of the Year Award. This year, part of our growth strategy was to round out our offering with traditional sports and casinos to make us a complete iGaming solution. Merging with FansUnite accelerates our growth strategy and will bring us the scale and offerings to make our combined group the leading iGaming entity in the Canadian public markets.’…
GAN Limited (NASDAQ: GAN) is a business-to-business supplier of internet gambling software-as-a-service solutions to the U.S. land-based casino industry. The Company has developed a proprietary internet gambling enterprise software system, GameSTACK Boyd Gaming Corporation (NYSE: BYD) and FanDuel Group recently announced the debut of FanDuel Sportsbooks at four Boyd Gaming properties: Blue Chip Casino Hotel and Spa in Michigan City, Indiana; Diamond Jo Casino in Dubuque, Iowa; Diamond Jo Casino in Northwood, Iowa; and Belterra Casino Resort in Florence, Indiana. “Together, Boyd Gaming and FanDuel Group continue to successfully capitalize on the historic opportunity afforded by the legalization and expansion of sports betting in new states across the country,” said Keith Smith, President and Chief Executive Officer of Boyd Gaming. “The FanDuel Sportsbook is off to a great start in Pennsylvania, contributing to solid growth in visitation and profitability at our Valley Forge Casino Resort near Philadelphia. We are confident our partners at FanDuel will deliver excellent results in Iowa and Indiana as well, further expanding Boyd Gaming’s customer base and enhancing our long-term competitive appeal.”
International Game Technology PLC (NYSE: IGT) announced earlier this month that its PlaySports platform will power retail and mobile sports betting at Wild Card Saloon and Sasquatch Casino in Black Hawk, Colo. Owned and operated by privately held gaming company, Ed & Shirley’s Inc., both casinos will leverage IGT PlaySports kiosks, platform and mobile technologies to give their patrons choice and convenience for how, when and where they place sports bets. “Offering omni-channel sports betting via the IGT PlaySports solution will introduce an exciting new dimension of gaming to Wild Card Saloon and Sasquatch Casino that sports fans throughout Colorado are ready to embrace,” said Ed Smith, Ed & Shirley’s Inc. President.
“We’ve leveraged IGT’s expertise and trusted technology to create a sports betting program that gives players choice and convenience for wagering on their favorite teams.”
Scientific Games Corporation (NASDAQ: SGMS) announced earlier in March that it had partnered with Vaix.ai to offer sports bettors personalized recommendations and tailored betting choices through the OpenMarket product suite. Vaix.ai will offer an Artificial Intelligence (AI) model through OpenSports that enhances the sports betting experience. By providing sports, league, team, event, and market recommendations to bettors in real-time, the companies aim to further personalize sports betting through Scientific Games’ OpenMarket solution. OpenMarket is the industry’s first one-stop content marketplace, giving Scientific Games’ partners access to top-tier sports betting intelligence, data feeds and tools without the need for complex integrations and financial agreements. About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
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Brian Goodman CEO of Golden Matrix
Golden Matrix Group Inc. Reports Strong Q3 2024 Earnings and Continued Operational Growth
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Revenue Growth: Q3 2024 consolidated revenue increased by 85% to $41 million, with year-to-date revenue up 55% to $105.3 million, driven by consistent performance across key markets.
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Gross Profit Increase: Gross profit grew 39% in Q3 to $22.4 million, with year-to-date gross profit rising 24% to $61.8 million, reflecting improvements in operational efficiency and product margins.
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AEBITDA: Adjusted EBITDA for Q3 reached $4.3 million, reflecting resilient performance across multiple revenue channels with marginal impacts from currency fluctuations across subsidiaries.
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Balance Sheet Strength: As of September 30, 2024, Golden Matrix maintained a robust financial position with over $38.4 million in cash and equivalents and short-term debt of $17.5 million. Shareholder equity also grew 60% to $94 million, reinforcing the Companyâs ability to pursue strategic growth initiatives.
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Meridianbet Strong Growth Continues: Meridianbetâs Q3 revenue grew 16% YoY, led by a 19% online increase and 6% in retail. Deposits rose to $61.9M (+13% QoQ), with new registrations up 23% to 125K. Online casino GGR margin hit 3.37% (+21% turnover), sports betting rose 7.4% YoY with GGR at 9.5%, retail sports GGR at 10.3% (record 14.1% in August), and retail slots up 17.5% YoY.
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Expansion of GMAG Platform: The GMAG B2B aggregator platform saw substantial growth, with wagering volume increasing 84% to $1.4 billion. Enhanced customer retention tools and the addition of high-margin games have driven engagement and profitability.
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Classics for a Cause Acquisition: This newly acquired Australian business added $2.1 million in revenue and $503,000 in EBITDA within two months, expanding Golden Matrixâs market reach and contributing to overall profitability.
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Mexplay Growth: Mexplay, the Companyâs online casino in Mexico, reported a 56% increase in active players and a rise in gross gaming revenue to $15 million, underscoring growth potential in Latin America.
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As esports and digital entertainment surge forward, driven by tech innovations, global reach, and shifting user preferences, weâre seeing a redefined gaming landscape with unprecedented growth opportunities. Although recent regulatory shifts and the impact on live events have temporarily slowed growth, the future of esports remains incredibly promising. Key revenue drivers, including sponsorships, advertising, merchandise, ticket sales, and streaming, are expected to continue propelling the industry forward.
Betting options have also transformed, expanding well beyond traditional sports to embrace esports. This new category, focused on top video games, is drawing in players eager for engaging betting experiences on local sportsbooks that cater to their interests with a diverse array of games, leagues, and tournaments. Atlaslive iGaming Platform and Sportsbook rise to this challenge, offering a rich catalog of esports betting options. Within the âSportsâ section, fans can back their favorite teams across leading games like Dota 2, Counter-Strike, Valorant, League of Legends, Fortnite, and Call of Duty.
With a seamless registration and verification process, Atlaslive brings fans closer to the action. The platform provides a vast array of betting options across multiple games, with fan favorites like League of Legends and Counter-Strike: Global Offensive (CS) attracting enthusiastic participation. The live betting section is crafted for maximum engagement, allowing fans to place wagers tailored to each gameâs unique competitive elements.
Backed by comprehensive market research, Atlaslive identifies emerging trends in gaming and esports revenue, particularly across the top six revenue-generating regions. With a commitment to innovation, Atlaslive continues to enhance its iGaming platform, blending high-quality gaming content with adaptable, real-time technology to offer an unparalleled experience for players worldwide.
Esports Market in Focus: Global Statistics and Emerging Trends
Competitive gaming, or esports, has skyrocketed into a global phenomenon, where pro players and teams battle it out in popular multiplayer games through structured leagues, tournaments, and major events. With devoted fans, substantial sponsorships, and an enthusiastic community, esports is more profitable and visible than ever. But what factors are powering this explosive growth, and what lies ahead?
One major accelerator is the worldwide accessibility of high-speed internet and mobile technology. With mobile devices now in nearly every pocket, esports can reach a truly global audience. Atlasliveâs analytics reveal that over 90% of players prefer mobile gaming, a trend that highlights the ease of access for fans to engage with esports anytime, anywhere. This mobile-friendly environment also makes it seamless for fans to place bets on the go, keeping engagement high.
Another driving force is the impact of streaming services like Twitch, Kick, and YouTube, which collectively attract millions of viewers every month. Twitch alone garners over 240 million unique visitors monthly, demonstrating how integral streaming is to the esports community. These platforms not only allow fans to watch games live but also encourage connections between streamers and viewers, creating an interactive and immersive experience that brings fans closer to their favorite players and teams. The professionalization of esports, with structured leagues, big sponsorships, and marquee events, has cemented its place as a mainstream entertainment option.
As the industryâs momentum builds, Atlaslive is positioned to elevate the esports betting experience, enhancing accessibility and engagement in this fast-evolving digital arena. With such strong community support and technological innovation, esports is set to reach even greater heights in the years to come.
Source: Statista 2024
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The global esports market has evolved remarkably, expanding from $1.2 billion in 2017 to an anticipated $6.1 billion by 2029, boasting a strong CAGR of 14.5%. This impressive rise reflects esportsâ journey from a specialized interest to a mainstream entertainment force, fueled by increasing investments and a widening international audience.
Esports revenue is driven by six primary streams:
- Sponsorship and Advertising: Brand deals and advertisements associated with tournaments and events.
- Merchandise and Ticket Sales: Earnings from event tickets and esports-themed merchandise.
- Streaming, Media Rights, and Publisher Fees: Revenue from broadcasting on platforms like Twitch and YouTube.
- Esports Betting: Wagers placed on esports outcomes, adding a dynamic element of fan engagement.
Together, these streams create a substantial revenue foundation, underscoring the industryâs growth potential.
Average revenue per user (ARPU) in esports is on a steady incline. Currently, esports betting ARPU sits at around $33 for 2024, contributing to broader sports betting ARPU exceeding $300. Although modest, the esports ARPU indicates a growing appeal among new audiences, with demand surging for platforms that offer a wide range of games tailored to market needs.
Both merchandise and ticket sales are experiencing steady increases, highlighting fansâ enthusiasm for esports, both in live and virtual formats. While streaming revenue remains a smaller segment, it is on a gradual rise, signaling that esports content monetization is expanding, though at a gentler pace compared to other revenue channels.
This upward trajectory underscores esports as a thriving market, with continuous growth opportunities across diverse revenue streams.
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Source: Statista 2024
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The global reach of esports has skyrocketed, growing from 386 million users in 2017 to a projected 896.1 million by 2029, marking its shift from niche to mainstream. By 2025, esports is set to reach 772 million users, almost quadruple iGamingâs 211 million, with the market penetration of 12.6% compared to iGamingâs 2.7%. This growth reflects rising engagement among players and bettors, drawn by the excitement of competition and easy online access. For brands, this young, tech-savvy audience offers a prime opportunity to connect in a rapidly expanding market.
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Source: Statista 2024
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The esports market could reach a remarkable $8.3 billion by 2029 in a best-case scenario, fueled by expanding internet access, community support, and advancing technology. Moderate forecasts, however, suggest potential market sizes of $4.7 billion or $6.4 billion, depending on these influences.
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These projections illustrate the range of possibilities for esports growth. While the optimistic scenario forecasts rapid expansion, even conservative estimates indicate steady progress, underscoring the marketâs resilience and potential.
Global Leaders in the Esports Landscape
As one quote goes, âThe aim is to convert data into information, and information into great thoughts.â This approach is crucial for success in esports, as data reveals how various regions drive the global rise of esports. Established markets continue expanding while emerging regions promise future growth, showing where engagement is strongest today and where the next opportunities may emerge.
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Source: Statista 2024
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Europe, North America, and Asia lead the esports market, generating the majority of industry revenue, thanks to strong infrastructure and significant investments in key hubs like the U.S., South Korea, and Germany. Asia, with gaming-driven cultures and government backing in countries like China and South Korea, sees robust growth. Meanwhile, South America faces economic and infrastructure challenges, slowing its progress, though interest in esports is on the rise. Australia also holds a modest share, reflecting a smaller population but a dedicated esports community.
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Source: Statista 2024
Europe currently leads the esports market and is set for steady growth, though North Americaâs strong 10% growth rate could close the gap with strategic investments and expansion. Asia, with a 6.9% growth rate, remains a key region due to its large audience and gaming culture, yet North Americaâs rapid growth could soon push it ahead in revenue.
Regions like South America, Africa, and Australia & Oceania, though smaller, show strong potential. South America, growing at 8.1% annually, stands out for investment opportunities, while Africa and Australia & Oceania hint at future development possibilities.
Unlock New Betting Possibilities in Esports with Atlaslive
The growth of esports has driven betting operators to expand beyond traditional pre-match bets. With Atlaslive, users experience the excitement of live betting as events unfold, enjoying competitive odds and dynamic options for in-play predictions. From pre-tournament wagers to real-time betting, Atlaslive provides a seamless and engaging betting journey.
Recognizing the importance of mobile accessibility, Atlaslive Platform offers optimized mobile solutions, allowing players to bet on their favorite esports events anytime, anywhere. The platform also delivers comprehensive stats, featuring both real-time and historical data, empowering users with valuable insights into team performance and past results for smarter betting choices.
Backed by advanced technology, Atlaslive offers esports fans an immersive live betting experience while partners benefit from increased engagement, access to vibrant player communities, and enriched iGaming options.
Lead the game with Atlaslive.
The post Esports Market Growth and the Atlaslive Advantage in Betting Innovation appeared first on European Gaming Industry News.
MGM National Harbor is kicking off November with a big jackpot. A lucky guest was playing Ultimate Texas Holdâem on November 3 when he was dealt a Royal Flush of diamonds, winning $961,428.50.
âWhat an incredible way to kick off the holidays,â said Alex Alvarado, MGM National Harborâs Vice President of Casino Operations. âWe take great pride in offering the premier selection of table games in an industry where anything is possible. Today, that possibility became a reality with a life-changing win for our guest.â
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