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Online Gambling Market is Projected to Reach USD 160 Billion by 2026

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According to a recent study from market research firm Global Market Insights, The global online gambling market is estimated to witness tremendous revenue growth over the coming years due to an upsurge in smartphone adoption and improving internet infrastructure across the world. Additionally, convenient and easy accessibility to online casino gaming platforms would also complement the overall market outlook over the analysis time period.

Gambling is termed as risking money or anything which is of material value for uncertain results. The initial purpose is of winning an additional amount or material goods. Online gambling also known as internet gambling is basically betting on sports type games or casino done over the internet. Bingo, slots, roulette, keno, poker, lotteries are some of the examples of online gambling.

In addition, various new features introduced by gambling platforms by leveraging technological advancements to attract more customers. This new trend is anticipated to majorly foster the industry size in forthcoming years. Various new technologies like Virtual Reality, 3D Animation, Live Table Games, and convenient as well as mobile-friendly gaming are majorly propelling the market outlook over the coming years.

As per a research report by Global Market Insights Inc., the online gambling market would likely exceed a valuation of $160 billion by the end of 2026.

In terms of type, the online gambling market is bifurcated into bingo, lottery, poker, casino, and betting. The betting segment is further classified into tennis, horse racing, Formula 1, football, esports, and boxing & UFC. Among the other segments, the online betting is the fastest growing segment over the forecast period. In fact, Chabot, machine learning, and AI (Artificial intelligence) have substantially taken over the market. Further, the convenience of cashless payment methods during gaming and increase in the number of female populations in casinos are likely to drive the online gambling industry.

Talking of the lottery segment, though lotteries are still very popular in Colombia, their revenues have progressively diminished as a result of competition from modern games, such as Baloto, which is an electronic lottery game managed by Coljuegos. With the popularity of modern games, the lottery segment might witness slow growth over the coming years.

Based on device type, the online gambling market is classified into desktop and mobile. The desktop device type segment will witness substantial growth over the coming years. The proliferation of sports betting ads across the world and ease of sports betting using desktop is expected to propel segment growth.

On the regional front, the Asia Pacific online gambling industry witnessed a significant upsurge in the industry recently due to the coronavirus pandemic. The strict lockdowns imposed by regional government authorities were responsible for majorly driving the adoption of online betting among APAC customers. In fact, according to the reports of illion Australia and AiphaBeta Australia, Australia witnessed a tremendous 67% rise in online gambling back in April 2020, after the country closed every non-essential service in Australia to keep the case count low. Likewise, the closing of land-based casinos has further resulted in a significant upsurge in the players using online casinos in countries like India.

Similarly, even Global Poker, the US-facing online poker room, reported a tremendous 43% growth in the adoption of online poker platforms across the United States after the lockdowns and social distancing mandates took effect. Additionally, the region observed an immense 255% rise in first-time players. Moreover, a lot of free time in the lockdown has compelled people to use online gambling platforms to pass time, which is majorly pushing the market landscape.

Key Companies covered in online gambling market are 888 Holdings PLC, Bet365 Group Ltd., BetAmerica, bet-at-home.com AG, Betfred, Betsson AB, Buffalo Partners, DraftKings Inc., Flutter Entertainment, GVC Holdings PLC, International Games Technology, Kindred Group PLC, Playtech PLC, Scientific Games, Sky Betting and Gaming, The Stars Group Inc., William Hill PLC.

 

Source: https://www.gminsights.com/pressrelease/online-gambling-market

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Booming Games launches Berserkin’ Buffalo Power Hit slot

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Booming Games has launched Berserkin’ Buffalo Power Hit, a new buffalo-themed slot that adds the supplier’s Power Hit mechanic to its Buffalo Series.

The game uses a 6×4 grid with 4,096 ways to win and a stated maximum win potential of 5,000x. Booming Games said the title is set on a buffalo backdrop and is built around the Power Hit feature.

According to the company, Buffalo Collect symbols can land on reels 1 and 6 to collect Coin Prizes in view, including Mini, Minor, Major and Grand Prize Pots, which “instantly charges up the Power Hit feature.” In the base game, Bonus symbols collect to the Buffalo pot above the reels and can trigger a Berserkin’ Bonus on any spin, while landing 3+ Bonus symbols can award up to nine Berserkin’ Bonus Spins.

Booming Games said the Berserkin’ Bonus free spins run with only the Power Hit feature active and “guaranteeing a win on every spin,” with prize pots “awarding up to 2000x” during the feature. The title also includes a Buy Bonus option priced at 75x, 100x, 150x or 200x the bet for 3, 5, 7 or 9 Berserkin’ Bonus spins, and a Boost+ toggle designed to increase feature chances.

Craig Asling, Director of Games at Booming Games, said: “Berserkin’ Buffalo Power Hit is packed with innovative bonus features that we’re confident will be a hit among players. Our Buffalo games have been among our best performers, and we are delighted to be adding a new game to the Series. The all-new Power Hit feature is the latest example of our commitment to delivering an ultimate gameplay experience that provides high-stakes thrills. Play Berserkin’ Buffalo Power Hit now!”

The post Booming Games launches Berserkin’ Buffalo Power Hit slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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DATA.BET adds Infront official tennis data to sportsbook feed

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DATA.BET has partnered with Infront to integrate official tennis data into its sportsbook offering, expanding its tennis coverage for operator clients.

DATA.BET said the integration will allow clients to add more tennis events and markets, with the aim of maintaining consistent coverage during peak periods and across different competition levels.

“Tennis is among the top five most popular sports for our clients, which makes expanding coverage in this discipline a clear priority for DATA.BET,” said Otto Bonning, Head of Sales at DATA.BET. “By expanding our tennis coverage, we provide operators with deeper, year-round tennis coverage.”

“Our collaboration with DATA.BET is part of our strategy to make sure that the whole betting market has access to official data, reaching as many sportsbooks as possible and making sure that their customers have a great offer in front of them, whilst also being protected by the usage of live fast-path official data from the umpire`s chair” said Diogo Almeida, Head of Sales at Infront Bettor.

DATA.BET positioned the agreement as part of its longer-term strategy to build a scalable sportsbook solution across major sports using official data and content.

The post DATA.BET adds Infront official tennis data to sportsbook feed appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Compliance Updates

Endorphina secures UAE Gaming-Related Vendor License (Tier II) from GCGRA

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Endorphina Limited has been granted a Gaming-Related Vendor License (Tier II) by the UAE’s General Commercial Gaming Regulatory Authority (GCGRA), positioning the supplier to operate in the country’s newly regulated commercial gaming market.

The company said it is among the early licensed entities in the UAE. It added that the license is granted subject to ongoing compliance with GCGRA regulations, conditions, and directives.

Džangar Jesenov, Head of Compliance at Endorphina, said:

“Over the past years, Endorphina has grown into a truly reputable, internationally recognized supplier, following a principle of gradual and sustainable development. Today, in terms of the number of jurisdictions where we are authorized to operate, we are proud to be ranked among the Тop providers worldwide. Receiving this license in the early stages of the UAE’s regulated gaming market is both an honor and a responsibility. We are excited to contribute to shaping a sustainable and innovative industry under the guidance of the GCGRA.”

Endorphina said the UAE approval supports its broader strategy of expanding across regulated markets.

The post Endorphina secures UAE Gaming-Related Vendor License (Tier II) from GCGRA appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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