Latest News
Video Game Loot Boxes to Generate over $20 Billion in Revenue by 2025, but Tightening Legislation Will Slow Growth
A new report from Juniper Research has found that revenue generated from loot boxes used in video games will exceed $20 billion by 2025, up from an estimated $15 billion in 2020. However, growth, averaging 5% per year, will be slower than previous years, as consumers become fatigued with loot boxes and legislative constraints limiting the market.
Loot Boxes Legislative Scrutiny Increasing
The report, In-game Gambling & Loot Boxes: Legislation, Market Evolution & Forecasts 2021-2025 Report, expects more than 230 million gamers will buy loot boxes in 2025. Mobile gamers will make up the majority of these, as alternative forms of in-game monetisation, like battle passes and downloadable content packs, are less common in mobile gaming. Overall, we expect approximately 5% of gamers will buy loot boxes that year.
Juniper Research notes that legislation restricting loot boxes, by either classifying them as a form of gambling or banning them outright, will become more prevalent, particularly in Europe. This is leading several publishers to develop new ways of using loot boxes, ranging from ‘transparent’ loot boxes to changing how they are purchased, in order to bypass legislation.
‘Loot boxes in their traditional form are often considered exploitative; leading to increased legislative scrutiny,’ remarked research co-author Nick Hunt. ‘We expect to see game publishers react to this in future by changing loot box formats, in order to keep them compelling and outside the legal realms of gambling.’
Skins Gambling an Ongoing Feature
The report also found that skins gambling, where in-game items are wagered on games of chance or the outcome of eSports matches, will have total wagers worth $321 million in 2025; $100 million more than in 2020, but down from a market high in 2016, due largely to the majority of skins gambling sites being blocked in many countries. Juniper Research expects that gambling will continue until trading platforms prohibit these practices outright, rather than merely limiting them.
Whitepaper download: https://www.juniperresearch.com/document-library/white-papers/loot-boxes-levelling-up-for-new-legislation
Powered by WPeMatico
Angela Bernhard Thomas
CAPCOM’S STREET FIGHTERTM 6 GOING TO COLLEGE THIS FALL
- CSMG will create and operate College Street FighterTM Tour in North America for the 2024-25 academic year
- College conference Street Fighter 6 champions will punch their ticket to the national Collegiate Esports Commissioner’s Cup (CECC) & May Madness in 2025
Clark County
Clark County residents can bring a friend for free to next week’s Super Bingo $160,000 tournament at the Plaza Hotel & Casino, May 6-8
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino is offering Clark County, Nevada residents who register to play in next week’s Super Bingo tournament the opportunity to bring a friend for free.
Happening Monday, May 6 through Wednesday, May 8 in the Plaza’s expansive ballroom, Super Bingo is expected to draw nearly 1,000 people from the local Las Vegas valley and across the country and Canada for the opportunity to win big playing fun-filled games of bingo over two days, with a $50,000 super coverall both days while socializing with like-minded bingo players.
Bingo-only registration is $160 per person, and Clark County residents who register can bring a friend for free. Registration is available online at https://www.plazahotelcasino.com/bingo/super-bingo-registration/. Hotel-and-bingo packages start at $300 for a four-night stay with no resort fee.
All Super Bingo players receive one 6-on paper pack for both days, two daubers, free drinks via an open bar at all sessions, boxed lunch both days, and $10 in free slot play after the first day’s session.
The Plaza’s Bingo room offers six daily bingo sessions at 11 a.m., 1 p.m., 3 p.m., 5 p.m., 7 p.m. and 9 p.m. and is located on the 3rd floor. By parking on the third floor of the Plaza’s self-parking garage, guests have convenient and direct access to the Plaza’s bingo room and parking is validated for bingo players.
Gambling in the USA
Kambi Group plc extends Mohegan partnership with on-property sports betting agreement in Pennsylvania
Kambi Group plc (“Kambi”), the world’s trusted sports betting partner, has agreed a long-term on-property sportsbook partnership with Mohegan to provide its award-winning sportsbook at two retail locations in the state of Pennsylvania.
The partnership will see Mohegan utilise Kambi’s cutting-edge retail sportsbook offering across more than 20 kiosks in sportsbook locations at Mohegan Pennsylvania and Mohegan Pennsylvania at Lehigh Valley Race and Sportsbook.
The deal further strengthens Kambi’s relationship with Mohegan, which already utilises Kambi’s suite of sports betting products at ilani in Washington, as well as online and on-property in the Canadian province of Ontario at Fallsview Casino Resort and Casino Niagara.
Kristian Nylén, Kambi CEO and Co-founder, said: “With several successful partnerships with Mohegan already in place, we are pleased to agree this new partnership as we continue to build on our strong relationship.
“This latest deal further reinforces Kambi’s position as the sportsbook provider of choice for tribes across North America, and we look forward to our ongoing collaboration with Mohegan.”
Tony Carlucci, President & GM of Mohegan Pennsylvania, said: “Mohegan Pennsylvania is excited to continue utilising the same Kambi technology platform that existed under our Kindred partnership, which will help to create a seamless process as the Sportsbook at Mohegan Pennsylvania fully rebrands later this Spring.”
-
Balkans6 days ago
CT Gaming to Showcase its Latest Products at the Belgrade Future Gaming Exhibition
-
Australia6 days ago
Nerida O’Loughlin Reappointed as ACMA Chair
-
Latest News6 days ago
NetBet Casino Joins Forces with Habanero
-
British Columbia Lottery Corporation6 days ago
SCCG Management Signs Contract with British Columbia Lottery Corporation
-
Asia6 days ago
Indonesia Establishes Task Force to Combat Online Gambling
-
Latest News6 days ago
PRAGMATIC PLAY DROPS CANDY BLITZ BOMBS
-
BiS SiGMA Americas5 days ago
Sportingtech Places New Local Talent Front and Center at BiS SiGMA Americas
-
Africa5 days ago
Kiron Interactive strengthens Ethiopian performance with Hulu Sport deal