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Online Gambling Market to Touch USD 158.20 Billion by 2028; Soaring Popularity of Virtual Gaming Platforms to Catalyze Market Growth: Fortune Business Insights™

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The global online gambling market size is projected to reach USD 158.20 billion by 2028, exhibiting a CAGR of 11.4% during the forecast period. This information is given by Fortune Business Insights in a new report, titled, “Online Gambling Market, 2021-2028.”  As per the report, the market was USD 66.72 billion in 2020.

Quick Adoption of Online Gambling amid COVID-19 to Boost the Market

The global health and economic crisis triggered by the COVID-19 pandemic forced governments in several countries to impose strict lockdowns and social distancing measures. Companies rapidly adopted remote working models, leading to huge portions of working populations working from home. With most non-essential services and places, including casinos, being closed down, gamers and gamblers have swiftly shifted to virtual platforms, boosting the online gambling market growth in the process. For example, an article published by New York University revealed that digital gambling platforms have gained speedy momentum in Canada after the coronavirus broke out. In Australia, according to a report by Concordia University, Canada, spending on online casinos rose sharply by 67% in April 2020. The coronavirus pandemic has, thus, proved favorable for this market, enabling it to register a healthy CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.

Market Segments

Based on type, the market has been classified into sports betting, casinos, poker, lottery, bingo, and others, with the lottery segment holding a share of 15.1% in the global market and a share of 15.4% in the UK market in 2020.

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On the basis of devices, the market segments include desktop, mobile, and others. By region, the market has been divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Highlights of the Report

The report offers a granular examination of the various factors shaping the growth trajectory of the market, as well as a holistic analysis of the hindrances obstructing the market. Furthermore, a microscopic study of the regional and competitive dynamics influencing the market has also been provided in the report, along with an in-depth assessment of the individual market segments. The insights contained in the report are based on industry-leading research conducted through primary, secondary, and tertiary sources.

Driving Factor

Introduction of Sophisticated Technologies in Virtual Gambling to Fuel the Market

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Advanced, intelligent technologies, such as artificial intelligence (AI) and blockchain, are being increasingly employed by online gambling platforms to ensure a secure and safe space for enthusiasts. Heralding this trend are startups that are developing and offering novel gambling platforms powered by smart technologies. For example, Edgeless, which was started in 2018, became the first Ethereum-based virtual casino that uses distributed ledger technology to ensure payouts. Similarly, Tombola is a popular lottery and gambling platform driven by cryptocurrency and other blockchain-enabled tools. Another example is the Canada-based startup, Quarter4, which leverages AI to offer simulations, content, and predictions for sports bettors. The incorporation of new-age solutions in digital gambling is, thus, opening new pathways of development for this market.

Regional Insights

Europe to Headline the Global Market, Forecasts Fortune Business Insights

Europe is expected to dictate the online gambling market share during the forecast period on account of the heavy investments being made by sports enthusiasts across the continent in online sports betting. Moreover, a healthy betting culture in Europe will further bolster the prospects of the market in the region. In 2020, the Europe market size stood at USD 30.92 billion.

The presence of secure connectivity infrastructure and strong gambling regulations will propel North America in the second-leading position in the market in terms of revenue generation. On the other hand, growing investments in online gambling in South America, driven by regulations in Colombia and Argentina, are anticipated to speed up the expansion of the market in this region.

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Competitive Landscape

Key Players to Strengthen Businesses through Innovative Collaborations

With online gaming picking up pace amid the COVID-19 pandemic, key players in this market are entering into strategic collaborations with gambling industry giants to deepen their market footprint. These companies are engaging in developing innovative online gambling platforms to attract gamblers and gain momentum in this rapidly evolving market space.

Industry Developments:

  • December 2020: BetMGM launched the BetMGM Casino in Pennsylvania, with an aim to bring its online gambling portfolio to players in the state. The platform will offer sophisticated mobile casino games, which will be available on iOS, Android, and desktops.
  • February 2020: CBS Sports and William Hill inked a deal under which William Hill will become the exclusive provider of Wagering Data and Sports Book across all CBS Sports platforms. The partnership will integrate sports betting, media, and technology to enhance fan engagement.

List of Key Players Covered in this Market Report:

  • Slots Heaven Casino (Slots Heaven Casino)
  • Sky Betting & Gaming (Leeds, United Kingdom)
  • SPIN Casino (Canada)
  • DraftKings Inc. (Massachusetts, United States)
  • Betfred (Warrington, United Kingdom)
  • BetAmerica (California, United States)
  • LeoVegas AB (Stockholm, Sweden)
  • Betsson AB (Stockholm, Sweden)
  • StarsGroup.com (Ontario, Canada)
  • Kindred Group Plc. (Valletta, Malta)
  • Mansion Casino (Gibraltar)
  • Evolution Gaming AB (British Columbia, Canada)
  • Scientific Games Corporation (Nevada, United States)
  • Buffalo Partners (New York, United States)
  • bet-at-home.com AG (Germany)
  • 888 Holdings PLC (Gibraltar)
  • Bet365 (Stoke-on-Trent, United Kingdom)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • William Hill Plc. (London, United Kingdom)
  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)

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Spinomenal grows UK presence with Lottomart collaboration

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Spinomenal, the leading iGaming content provider, has grown its UK presence following a collaboration with casino and lottery betting operator Lottomart.

Thanks to this partnership, Lottomart players can now enjoy Spinomenal’s library of captivating and engaging online slot games. These include popular hits such as Majestic King, Buffalo Rampage, Trout’s Treasure – Fishing Season and more. The games will be integrated into Lottomart’s casino lobby via the Aristocrat Interactive platform.

This latest move from Spinomenal will consolidate its reputation as one of the esteemed online casino content providers in the UK as it continues to build a strong presence in 2025.

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Yossi Shayovits, Head of Business Development for Spinomenal commented: “The UK continues to be a key part of our growth strategy, and partnering with Lottomart – a respected and innovative operator – allows us to bring our games to an even broader and esteemed audience in this important market.”

Chris Ruddock, Commercial Director at Lottomart added: “We’re always on the lookout for exciting content that adds something fresh to our portfolio, and Spinomenal’s titles do exactly that. Their distinctive style, engaging features, and wide range of themes make them a fantastic addition to our casino. We’re really looking forward to seeing how our players respond.”

The post Spinomenal grows UK presence with Lottomart collaboration appeared first on European Gaming Industry News.

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SOFTSWISS Joins Forces with TechIsland to Support Fire-Affected Areas in Cyprus

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During a challenging time for Cyprus, which is currently facing the devastating consequences of recent wildfires, SOFTSWISS, the global tech company providing software for iGaming, stands in solidarity with local communities. The company is actively participating in TechIsland’s fundraising initiative, aimed at providing immediate relief to those affected and supporting recovery efforts.

As a member of the local tech ecosystem, SOFTSWISS is contributing to the broader TechIsland initiative, which brings together Cyprus’s IT and innovation community to provide immediate emergency relief and long-term recovery support.

The company has made a financial donation, which will be directed toward three key areas:

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  • Wildfire prevention and fire protection infrastructure;

  • Installation of early warning systems;

  • Urgent assistance for families impacted by the fires.

This initiative reflects a broader pattern of social responsibility. SOFTSWISS consistently responds promptly to natural disasters, especially in countries where its employees, clients, or partners are based. In 2023, the company launched the HELP Brazil campaign following catastrophic floods and also supported a charitable initiative in Poland under similar circumstances.

Through these efforts – from Latin America to Europe and now Cyprus – SOFTSWISS reinforces its commitment to standing with communities in times of crisis. The company continues to lead not only as a tech innovator, but as a responsible global citizen.

“Supporting the country that hosts our employees and partners is not just a responsibility – it is a moral commitment. We have been closely monitoring the situation with deep concern and wanted to provide tangible aid to the fire-stricken areas, beyond words of solidarity. We are proud to be part of the TechIsland initiative and remain open to offering further support wherever it is needed,”  stated Ivan Montik, Founder of SOFTSWISS.

With its contribution, SOFTSWISS hopes to inspire more companies within and beyond the tech industry to act swiftly and decisively in times of crisis. Supporting the communities we live and work in is not just a responsibility – it’s a core part of who we are.

 

About SOFTSWISS

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SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 35,000 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.

The post SOFTSWISS Joins Forces with TechIsland to Support Fire-Affected Areas in Cyprus appeared first on European Gaming Industry News.

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Conferences in Europe

SBC Summit 2025 to Tackle Regulation and Retention in Europe’s Most Competitive Gaming Markets

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SBC Summit 2025 will sharpen its focus on one of the world’s most tightly regulated and commercially significant regions with the launch of the Global Markets – Western Europe track.

Taking place on Wednesday, 17 September at Lisbon’s Feira Internacional de Lisboa (FIL), the track will deliver strategic insights into how major operators are navigating escalating compliance demands, shifting player expectations, and intensifying global competition.

As part of the summit’s broader Global Markets programme, the Western Europe track will equip delegates with actionable strategies for thriving in regulation-heavy markets like Italy, the Nordics, the Netherlands, and Portugal. From revised licensing frameworks to new consumer protection mandates, the sessions will unpack the real-world challenges and opportunities facing operators on the ground. Whether expanding regionally or maintaining position in legacy markets, attendees will gain critical tools to drive innovation, compliance, and player retention in a changing European landscape.

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Rasmus Sojmark, Founder and CEO of SBC, said: “Western Europe has long set the standard for gambling regulation, but the landscape continues to evolve. Today’s leading operators must build strong relationships with regulators, drive responsible innovation, and retain customers in an increasingly complex global environment. This track provides the practical insight and expert guidance delegates need to succeed in Western Europe.”

The track will open with the European Leaders Panel: Old World, New Way Forward How the Most Established Brands Are Rethinking Regulation and Retention, bringing together some of the industry’s most prominent voices to discuss how operators can navigate tightening regulations, foster player loyalty, and remain competitive. Pascal Chaffard (CFO & Strategy Officer, FDJ), Axel Hefer (CEO, Tipico), Vlad Kaltenieks (CEO, BoyleSports), Mattias Wedar (CEO, LeoVegas), and moderator Martin Collins (Chief Business Development Officer, Soft2bet) will share their strategies for maintaining compliance while continuing to innovate, engage players, and thrive in Western Europe’s highly regulated markets.

Conversation will then turn to Italy’s post-licensing landscape in Italy’s New Online Gambling Regime: A Game-Changer for the Industry. The session will explore how stricter regulations, higher licensing fees, and enhanced player protection measures are reshaping the market. Industry leaders Fabio A. Bufalini (Country Director Italy, Stake), Marco Castaldo (CEO, Microgame), Will Shuckburgh (CEO, eCogra), Nicola Tani (Chief Editor, Agipro), Stefano Tino (Managing Director Italy, Betsson), and Marco Tiso (Managing Director, Sisal), will examine whether this transition has the potential to strengthen market sustainability or create unforeseen roadblocks, as they offer delegates practical strategies for navigating Italy’s new framework.

The session Portugal: Smooth Sailing or Danger Ahead? will bring together Tiago Bessa (Partner, Vieira de Almeida), Tomas Goncalves (Managing Director, Apostas Sociais (Santa Casa)), Americo Loureiro (Director, Solverde), Rui Magalhães (CEO, Estoril Sol Digital), Bernardo Neves (Secretary General, APAJO), and Tiago Pereira (Head of Portugal, LeBull.pt) to examine the current state of Portugal’s sports betting and iGaming market. With iCasino activity growing while sports betting declines, the panel will consider whether this could signal tighter regulation.

Other sessions featured in the track include Over the Finnish Line: Regulation in the Nordics, which will analyse Finland’s upcoming move to open its market to private operators, and Dutch Courage: Collaboration in the Changing Face of Regulations, which will look at Dutch proposals to raise the age threshold for online slots and introduce stricter deposit limits.

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The Global Markets – Western Europe track forms part of SBC Summit 2025’s Global Markets series. Other markets explored across 16–18 September include Global Markets – Latin America and Brazil, and Global Markets – North America, each offering delegates region-specific insights to support international growth and strategic market entry.

Secure your ticket to SBC Summit 2025 today.

The post SBC Summit 2025 to Tackle Regulation and Retention in Europe’s Most Competitive Gaming Markets appeared first on European Gaming Industry News.

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