Connect with us

Latest News

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

Published

on

Reading Time: 3 minutes

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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)

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Latest News

The Free Bet Wheel: Betting.bet Increases Player Engagement with New Gamification Tool

Published

on

the-free-bet-wheel:-betting.bet-increases-player-engagement-with-new-gamification-tool
Reading Time: 2 minutes

 

One of the UK’s leading betting aggregators, betting.bet, has introduced the Free Bet Wheel, a new free-to-play tool designed to increase user retention and interaction. Tied to the weekend’s Premier League football, this gamified feature offers users the opportunity to earn free bets and a weekly £100 cash reward.

At a time when most iGaming affiliates are focused on developing foreign markets such as Latin America and Africa, the function illustrates betting.bet’s ongoing commitment to the UK.

About the Free Bet Wheel

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Weekend Availability: The Free Bet Wheel runs every weekend, aligned with major Premier League and international football matches.

  • Multiple Chances to Win: Players receive up to four spins to try their luck each weekend.

  • Winning Free Bets: Match three free bet colours within five spins to win a free bet on the featured match.

  • £100 Cash Jackpot: Land on the jackpot segment five times consecutively to win £100 in cash.

  • Loyalty Rewards: Players also collect bCoins, Betting.bet’s exclusive loyalty currency, which can be redeemed for a range of prizes, vouchers and rewards.

Strengthening Operator Partnerships Through Enhanced User Experience

By launching the Free Bet Wheel, betting.bet is not only elevating the player experience but also delivering tangible benefits to its network of partner operators. The feature offers a new avenue to profile selected betting partners, direct qualified traffic to safe free bets and reinforce affiliate partnerships through increased user activity and conversions.

Steve Gummer, Director of Betting.bet, stated: “We at betting.bet are dedicated to developing products and experiences that not only interest players but also provide clear value to our partners. Designed to benefit our UK community in a fun, frictionless manner, the Free Bet Wheel also supports important weekend traffic and sportsbook conversions.”

Driving Retention Through Gamification

This launch is part of a broader strategic focus on gamification and loyalty at betting.bet, aligning user enjoyment with commercial objectives. As the UK version of the platform continues to grow, features like the Free Bet Wheel are designed to support player acquisition, maximise LTV and drive weekend re-engagement.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The Free Bet Wheel is now live at betting.bet and available to all UK users aged 18+,

The post The Free Bet Wheel: Betting.bet Increases Player Engagement with New Gamification Tool appeared first on European Gaming Industry News.

Continue Reading

Latest News

GR8 Tech Powers Smarter Betting with New Match Trackers

Published

on

gr8-tech-powers-smarter-betting-with-new-match-trackers
Reading Time: < 1 minute

 

GR8 Tech has unveiled a powerful new upgrade to its high-performance sportsbook platform: high-quality, real-time Match Trackers—designed to bring more action, insight, and excitement to players. Match Trackers are available across all of GR8 Tech’s sportsbook solutions, including iFrame and the Hyper Turnkey.

We’re always looking for ways to elevate the player experience and give our partners a competitive edge,” said Denys Parkhomenko, CPO at GR8 Tech. “Match Trackers have smart features that drive engagement, boost retention, and power faster betting decisions in real-time.

With broad coverage across football, basketball, tennis, hockey, volleyball, and handball, the trackers are live for pre-match analytics and in-game updates. Key features include:

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
  • Detailed Stats: From xG in football to rebounds in basketball and aces in tennis, players get live and historical stats tailored to each sport.
  • Key Moments & Summaries: Goals, assists, red cards, substitutions, and more delivered in real-time.
  • Pitch Animation: A dynamic, visual alternative to video streaming, showing key moments as they unfold on the field.
  • Lineups & Live Updates: Full team sheets, coaches, and live substitutions, so players are always in the know.
  • Live Standings: Updated rankings and tournament tables across all supported sports.

By providing operators with the tools to deliver everything players need in one place, GR8 Tech enhances the sportsbook user experience, enabling more confident betting and driving longer player sessions.

The launch of Match Trackers marks another step in the company’s long-term strategy to deliver a best-in-class, sportsbook-driven platform and become the leading sportsbook provider by 2028. Coverage will soon expand to even more sports to meet operators’ needs.

The post GR8 Tech Powers Smarter Betting with New Match Trackers appeared first on European Gaming Industry News.

Continue Reading

Latest News

Midnite creates free limited-edition beer for fans to enjoy at World Snooker Championship

Published

on

midnite-creates-free-limited-edition-beer-for-fans-to-enjoy-at-world-snooker-championship
Reading Time: < 1 minute

 

Midnite is the new official UK betting and casino partner of the World Championship, Snooker’s greatest event, which will run from April 19 to May 5.

To celebrate the partnership, Midnite has created a FREE limited edition lager – with one free beer available per person – which will be served at a local pub throughout the tournament.

The one-off lager will be served at The Graduate, an iconic Sheffield pub a short walk from The Crucible, with fans able to enjoy a new beer on tap while the World Championship comes to the city.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Midnite has partnered with London-based brewery Drop Project to bring the concept to life. Drop Project creates the freshest, premium flavoursome beers with consistent high-quality results, and pushes creative boundaries and brews the beers that both inspire their passions for the industry and our lifestyles.

A Midnite spokesperson, commented: “We have worked with Drop Project to bring fans a Midnite lager that they can enjoy throughout the whole tournament. We wanted to create something tangible that snooker fans can enjoy throughout, and to have been able to create our own beer is something we’re pleased with.

“The World Snooker Championship brings real excitement to the city, and fans can head straight from The Crucible, to The Graduate and enjoy a pint or two of our specially brewed lager, just for the occasion.”

Midnite is providing the beer free of charge – one free drink per person of Midnite Lager Only and for ticket holders to the Snooker World Championship (18+). Redeem by showing your matchday ticket at The Graduate. While stock lasts.

The post Midnite creates free limited-edition beer for fans to enjoy at World Snooker Championship appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania