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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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Akne Fruits: Redefining the Future of iGaming

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Tom Horn Gaming and AKNEYE, the innovative art initiative by AKN, have joined forces to launch a unique project, Akne Fruits. More than just a slot game, Akne Fruits fuses online casino gaming, traditional sculpture, and NFT technology to redefine the iGaming ecosystem and the future of iGaming.

A Visionary Blend of Art, Technology, and iGaming

Akne Fruits is groundbreaking in its exploration of the intersection between the physical and digital worlds in an entirely new way. Inspired by AKN’s signature AKN EYE motif, the game is accompanied by nine exclusive artefacts meticulously hand-painted by Rafayel Nersesyan, a famous Armenian artist, who also played a role in shaping the game’s visuality. Each object mirrors the fruit symbols from the game and serves as a tangible representation of AKN EYE’s iconic aesthetic.

Own and Share in the Success of Akne Fruits

Available globally, Akne Fruits invites players to connect with the game on multiple levels – enjoy it in their favourite casino, invest in its digital assets, or own their own piece of its physical representation.

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Through NFTs offered via the Ortak marketplace, players can acquire game-inspired NFTs and become stakeholders in the game’s ongoing success. This experience is further expanded by the introduction of nine exclusive sculptures and their NFTs. These one-of-a-kind pieces allow players and art collectors to own a physical piece of the game and gain a significant share in its financial achievements.

Official Launch and Sell-Out at Harmony VI

The exclusive physical NFT collection of Akne Fruits made its debut at BetConstruct’s prestigious Harmony VI Meetup in Ras Al Khaimah, UAE. In addition to the game’s digital collection available on ortak.me, art lovers and gaming enthusiasts had the chance to purchase one of nine exclusive physical representations of the Akne Fruits game on the spot. The response was overwhelming, with all physical NFTs selling out within just one hour of the official announcement – a historic milestone for Tom Horn Gaming and Ortak.

Pushing the Boundaries of iGaming

The partnership between Tom Horn Gaming and Ortak is redefining how the supplier perceives the future of iGaming. Akne Fruits goes beyond being just a slot game. It delivers an immersive experience that connects players and art enthusiasts with the game and its artistic assets on different levels.

This collaboration is a perfect synergy of two innovative companies, combining our strengths to introduce new products, redefine iGaming, and multiply the success of our innovative approach to entertainment. With Akne Fruits, we’re not just delivering a game. We’re shaping the future of how players experience iGaming,” said Ondrej Lapides, CEO of Tom Horn Gaming.

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Explore the Future with Akne Fruits

Players and art lovers are invited to discover the Akne Fruits experience by visiting the Ortak NFT marketplace and becoming part of this exciting journey. Whether through owning a digital NFT or acquiring a stunning physical sculpture, the possibilities are as limitless as the creativity behind the project.

By transcending the concept of a traditional slot game and embracing new technologies, Tom Horn Gaming continues to lead the iGaming industry into new frontiers, offering unique opportunities for players to engage with games and their creators.

The post Akne Fruits: Redefining the Future of iGaming appeared first on European Gaming Industry News.

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SOFTSWISS Game Aggregator Certified for Peru Market

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SOFTSWISS has successfully obtained compliance certification for the Peruvian market for its Game Aggregator, the largest content hub in the iGaming sector. This milestone solidifies the company’s position as one of the first technology providers ready to work under the country’s new regulatory framework.

As part of Peru’s revised Regulatory Framework, initiated in February 2024, all operators, platforms, game providers, and technical suppliers are required to obtain certification by 1 January 2025 to legally operate in the market. SOFTSWISS achieved this certification through GLI, an accredited testing laboratory, ensuring that its product meets all technical and legal requirements set by Peruvian authorities.

The Peruvian gambling market is among the fastest-growing and most promising in Latin America, with projections estimating a CAGR of 5.97% and a market volume of USD 420.60 million by 2029. Furthermore, smartphone penetration is expected to hit 77.78% by the same year, providing significant opportunities for the iGaming industry.

“The newly regulated framework is set to attract international gaming companies and investors, paving the way for further expansion in the iGaming sector,” said Max Trafimovich, CCO at SOFTSWISS. “We’re proud to be among the first companies to complete the necessary procedures and be fully prepared for this promising market.”

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This achievement comes shortly after the SOFTSWISS Game Aggregator’s certification in Brazil, showcasing the company’s ambitious plans to expand and strengthen its leadership across the Latin American region.

Currently, the SOFTSWISS Game Aggregator boasts the largest game portfolio in the market, offering over 27,000 titles, alongside consistent 99.999% uptime and top-tier services. According to a recent Kantar survey conducted in November 2024, the product received an overall satisfaction score of 8.1 out of 10 from its clients, underscoring its reputation as a reliable and industry-leading solution.

By obtaining certification in Peru, SOFTSWISS continues to demonstrate its commitment to compliance, innovation, and delivering premium services in rapidly evolving markets.

The SOFTSWISS team will be available to discuss partnerships in Brazil and other markets at the first major iGaming event of 2025 – ICE Barcelona, taking place on 20–22 January, at stand 2G42.

 

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About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in 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 23,500 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, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Game Aggregator Certified for Peru Market appeared first on European Gaming Industry News.

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New Zealand Thoroughbred Racing and 1/ST Unveil Partnership to Elevate Global Thoroughbred Racing

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New Zealand Thoroughbred Racing (NZTR) is excited to announce a transformative partnership with 1/ST, the premier North American Thoroughbred racing, gaming and entertainment company. Known for its iconic venues, including Santa Anita Park (California) and Gulfstream Park (Florida), 1/ST is a leader in modernizing horse racing by blending live racing with innovative gaming, hospitality and lifestyle experiences.

As leaders of world-class racing, hospitality and entertainment events, 1/ST is also committed to advancing racing’s global profile through cutting-edge technology and international collaboration. This partnership brings a unique opportunity to connect three prestigious racedays: Auckland Thoroughbred Racing’s Champions Day (March 8 – featuring The G1 Bonecrusher New Zealand Stakes, named after legendary 1987 Australian Horse of The Year Champion and NZ Hall of Famer, Bonecrusher) alongside 1/ST’s Pegasus World Cup (January 25) and California Crown (September 27).

This collaboration will introduce “Golden Ticket” pathways, offering the winning horses direct entry into marquee races including:

From the Pegasus World Cup (25 January 2025) to Champions Day (8 March 2025):

  • The US$500,000 Group 2 Pegasus World Cup Filly & Mare Turf (1600m) winner earns entry to the NZ$600,000 Group 1 World Pool New Zealand Thoroughbred Breeders’ Stakes (1600m).
  • The US$1,000,000 Group 1 Pegasus World Cup Turf (1800m) winner gains entry to the NZ$1,000,000 Group 1 Bonecrusher New Zealand Stakes (2000m).

From Champions Day (8 March 2025) to California Crown (27 September 2025):

  • The NZ$500,000 Rich Hill Stud Champion Middle Distance Series winner secures a Golden Ticket to the US$750,000 Group 1 California Crown John Henry Turf (2000m).
  • The NZ$500,000 Sport Nation Champion Sprint Series winner earns entry to the US$750,000 Group 2 California Crown US$750,000 Eddie D Turf Sprint (1300m).

To further enhance the partnership, NZTR and 1/ST will cover travel and freight costs for Golden Ticket-winning horses travelling internationally to compete in the respective countries.

“This partnership marks an exciting milestone in showcasing New Zealand racing on the world stage,” commented Chief Operating Officer of NZTR, Darin Balcombe. “The Golden Ticket concept creates a unique pathway for international competition, enriching the experience for racing participants and fans alike.”

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Aidan Butler, President of 1/ST, added: “This partnership with NZTR exemplifies our commitment to elevating Thoroughbred racing globally. By linking these iconic racedays and supporting international competition, we’re looking to drive innovation, collaboration and global excitement in the sport.”

Lachlan Fitt, Deputy CEO of Entain Australia and New Zealand, operators of the NZ TAB, also welcomed the announcement:

“Congratulations to NZTR and 1/ST on reaching this exciting outcome. The partnership will continue the opportunity for NZ racing to be showcased to racing fans globally and is another new pathway for NZ racing participants to consider. And through our Trackside and Sport Nation media brands, we look forward to bringing the best of US racing to our wagering customers in NZ.”

This partnership paves the way for significant growth in Thoroughbred racing across both regions, with both NZTR and 1/ST excited to build on this promising foundation moving forward.

For more information about the partnership and Golden Ticket races, contact NZTR’s Head Handicapper Bruce Sherwin by emailing [email protected].

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The post New Zealand Thoroughbred Racing and 1/ST Unveil Partnership to Elevate Global Thoroughbred Racing appeared first on Gaming and Gambling Industry in the Americas.

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