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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™
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.
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
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.
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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Sportsbook provider builds on commitment to local sporting initiatives by extending sponsorship deal to 2027
Altenar, a leading sportsbook and iGaming software provider, has agreed to sponsor the 2025 Isle of Man Marathon and Half Marathon for another three years, taking its agreement up to 2027.
This year’s edition of the popular event will take place on 10th August and will mark the third year of the provider’s sponsorship deal, which forms part of its broader strategy to invest in the Isle of Man community.
At the heart of the action, Altenar’s Chief Financial Officer (CFO) John Quaye will once again take to the undulating course, reinforcing the provider’s dedication to hands-on local engagement. This year, participants will also receive newly designed medals, t-shirts, and trophies, while extra medals will be awarded to winners of the Isle of Man Marathon Championships.
Fundamental to Altenar’s strategy is forging successful ties with Isle of Man locals and finding proactive ways to reinforce its affinity with the area. As part of its wider CSR goals, Altenar has also signed a new deal to sponsor the island’s Gran Fondo cycling race, further expanding its presence in the sporting scene.
John Quaye, CFO at Altenar, said: “We are delighted to support the Isle of Man Marathon and Half Marathon for a third year. It has been such a rewarding journey, and we’ve thoroughly enjoyed being part of such a meaningful local tradition. We are also pleased to announce that Altenar will remain the official sponsor for another two years at least.
“Being able to actively support our community and engage in events like this is something we take great pride in at Altenar.”
The post Altenar agrees sponsorship extension for Isle of Man Marathon appeared first on European Gaming Industry News.
Darwin Filho CEO of Esportes Gaming Brasil
Esportes Gaming Brasil announces Rita Cunha as Chief Growth Officer
Esportes Gaming Brasil, the group behind the brands Esportes da Sorte and Onabet, has appointed Rita Cunha as Chief Growth Officer (CGO). In her role, she will focus on driving the group’s organic growth, boosting commercial performance, and consolidating data-driven, customer-centric initiatives.
“The iGaming sector is undergoing a period of rapid and highly competitive expansion,” notes Rita Cunha. “I’m excited to join Esportes Gaming Brasil with the mission of transforming data into agile decision-making, strengthening our owned channels, and creating experiences that maximize user value—from the first interaction to long-term relationships,” she explains.
With over 20 years of experience in e-commerce and technology, Rita has built a career leading growth and marketplace strategies at companies such as PicPay—where she led PicPay Shop—as well as stints at Mosaico (Buscapé), Zoom, Passei Direto, and Match.com. Known for her data-driven business mindset, she brings acquisition, retention, and engagement strategies that have consistently delivered exponential results for high-traffic digital companies.
“Rita’s arrival reinforces our strong growth strategy grounded in technology, without compromising the user experience,” says Darwin Filho, CEO of Esportes Gaming Brasil. “Her experience with digital operations, combined with a 360° view of the customer journey, will be essential as we expand our market share in Brazil’s regulated environment.”
The post Esportes Gaming Brasil announces Rita Cunha as Chief Growth Officer appeared first on Gaming and Gambling Industry in the Americas.
PG Soft, a world-class digital mobile games company, has unveiled its fantasy-fueled video slot, Dragon’s Treasure Quest. The game is presented within a 5-reel, 3-row frame and features expanding reels and multipliers.Players must track down hidden treasures while navigating through legendary lore to find Wilds and Scatters, represented by a dragon eye and treasure chest respectively.
The Dragon Wild symbol only appears on reels two, three, four and five, and substitutes for all symbols except the Scatter symbol. Four Scatter symbols found anywhere will trigger the Free Spins Feature with 15 free spins – each additional Scatter symbol will trigger two more free spins. It’s possible to retrigger Free Spins.
At the end of every winning free spin, the total win for that spin is multiplied by both the multiplier at the bottom of the reels and the combined multipliers from the multiplier symbols on
the reels. Any multipliers collected during free spins will be accumulated and will remain at the bottom until the end of the Free Spins Feature.
Players can also take advantage of the Expanding Reel Window feature in Dragon’s Treasure Quest. At the start of each spin, all reels begin with three large reel windows. After each cascade, any reel window involved in a winning combination is split into two smaller windows—boosting the number of ways to win with every round.
A final element is the Multiplier symbol which is in play for any spin within the main game. One or more Multiplier symbols with values ranging from x2 to x100 may appear on the reels. At the end of the spin, all multipliers from the Multiplier symbols on the reels will be added together, and the total win for that spin will be multiplied by the total multiplier. The Treasure Chest may randomly add additional Scatter symbols if there are 1, 2 or 3 Scatter symbols present.
PG Soft’s spokesperson commented: “Dragon’s Treasure Quest delivers an action-packed reels adventure packed with exciting moments as players spin through a magical realm. Dragon’s Treasure Quest captures the spirit of heroic quests and the fiery power of dragons, keeping the adrenaline red hot with every spin.”
The post PG Soft releases fantasy-fueled Dragon’s Treasure Quest appeared first on European Gaming Industry News.
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