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Here’s a Look at the Top Trends Shaping the Online Gambling Market

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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.

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)

REPORT SCOPE & SEGMENTATION:

Report Coverage Details
Forecast Period 2021 to 2028
Forecast Period 2021 to 2028 CAGR 11.4%
2028 Value Projection USD 158.20 Billion
Base Year 2020
Market Size in 2020 USD 66.72 Billion
Historical Data for 2017 to 2019
No. of Pages 130
Tables, Charts & Figures 92
Segments covered Type;  Devices; and Region
Growth Drivers Ease of Online Payment to Drive Online Gambling Market Growth
Restrictions of COVID-19 on Land-based Casinos to Boost Demand for Online Gambling
Rapid Adoption of Smartphones to Fuel Demand for Mobile Gambling
Pitfalls & Challenges Rising Adverse Impacts on Mental Health and Bans on Online Gambling May Impede Market Growth

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.

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Spinomenal releases 3 Magical Genies slot with Hold & Hit bonus

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Spinomenal has released a new slot title, 3 Magical Genies, expanding its content portfolio with an Arabian-themed game built around a Hold & Hit-style Bonus Game.

The supplier said the game’s Wild symbol substitutes for all symbols except the Bonus, Boost, Collect, Multi and Jackpot symbols, with five Wilds on a winning line paying x10 the bet.

3 Magical Genies includes four Special Bonus symbols—Bonus, Boost, Multi and Collect—designed to affect symbol values during the Bonus Game. Spinomenal said a Mystery symbol can also appear in the feature, transforming into a Boost, Multi, Collect or Jackpot symbol.

According to the company, landing six or more qualifying symbols triggers the Bonus Game with three bonus spins and locked triggering symbols. During the feature, prizes can range from x1 to x10 multipliers of the total bet, alongside a Mini Jackpot (x20), Minor Jackpot (x50) or Major Jackpot (x150). Filling the grid awards the Grand Jackpot, set at x3,000 the total bet, Spinomenal said.

Spinomenal CO-CEO, Omer Henya commented: “3 Magical Genies brings the magic of the Arabian world to life, where riches are within reach for those with luck on their side. The Hold & Hit mechanic, alongside the four Special Bonus symbols, makes this a magical ride full of golden promise.”

The post Spinomenal releases 3 Magical Genies slot with Hold & Hit bonus appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Predictor by Slotegrator, a prediction market engine for iGaming brands, available for pre-order

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Predictor by Slotegrator is a prediction market engine packaged for iGaming operators that will bring the booming trend of event betting to any platform. Currently available for pre-order to a select group of Slotegrator’s clients, Predictor is a true prediction market, using a P2P model and updating odds after every bet. This model captures the appeal of the vertical while protecting operators’ margins.

Predictor by Slotegrator, a prediction market engine developed by leading iGaming software and business solution provider Slotegrator, is available for pre-order. By integrating Predictor, operators will allow their players to buy binary contracts on real-world events using a P2P exchange model. Odds are updated automatically, and operators earn a fixed commission on bets, providing zero-risk revenue.

“Predictor is a natural extension of our product philosophy. At Slotegrator, we believe that technology doesn’t follow trends but shapes them,” said Olga Ivanchik, COO. “The prediction market model is still in its early stages in iGaming, and we are among the first to package this mechanism for casino and sportsbook operators in a scalable, product-ready format. It marks a step toward a more adaptive and diversified operator offering.”

Prediction markets are a massive global trend. Bloomberg reported in February that Kalshi was handling more than $2 billion per week in bets, with Polymarket close behind. Players can bet on everything from sporting events to politics, the price of crypto, and celebrity tweets.

Sportsbook operators who are losing bettors to Polymarket, and want to bring them back by offering unorthodox bets, have the perfect solution in Predictor. Additionally, while classic sportsbooks carry risk on every bet, the P2P exchange model means they will earn on commission. It’s also fast and flexible, with new bets going live in 30 seconds.

Predictor is also ideal for online casino operators looking to increase retention by offering their players betting opportunities beyond traditional casino games, and new operators seeking to capitalize on the global prediction market trend will also benefit from the solution.

Predictor operates on an AMM/LMSR protocol, making it a true prediction market. The pressure created when increasing numbers of bettors select “yes” or “no” directly influences the odds, just like major platforms like Polymarket or Kalshi — and quite different from fixed-odds betting.

Prediction markets are popular not only for the vast array of bets available, but for their real-time data collection; more often than not, the favored outcome on Polymarket or Kalshi in fact comes to pass. This so-called “wisdom of the crowd” has a huge draw for bettors, and carries a huge part of prediction markets’ appeal.

“With Predictor, we are going beyond the usual ways of betting to a model where users actively shape the market. We are giving operators a new way to offer dynamic, event-driven experiences via a single iframe, and completely risk-free,” explained Product Owner Maksym Shtun. “Operators can also create completely unique betting experiences tailored to their own platform — the possibilities are endless.”

Slotegrator will present a demo of the solution at this year’s iGB L!VE, on 1-2 July.

ABOUT THE COMPANY

Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.

The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.

The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.

Slotegrator also provides consulting services in gambling license acquisition and business incorporation.

The post Predictor by Slotegrator, a prediction market engine for iGaming brands, available for pre-order appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ATG Casino goes live with Fantasma Games slots via EveryMatrix in Sweden

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ATG Casino has gone live in Sweden with slots from Fantasma Games via EveryMatrix, extending an earlier agreement to integrate aggregated content from the supplier.

ATG’s Swedish customers now have access to Fantasma titles including Explosive Banana X, Thundra Hydra Coins Max and Mission Coinplete, among others. Fantasma Games is part of the EveryMatrix Group.

The rollout includes EngageSuite Jackpots. EveryMatrix said the product uses real-time, customisable in-game widgets and allows operators to configure up to four jackpots per game without impacting base bets, with built-in simulation tools to estimate win frequency.

Carl Gatt Baldacchino, Account Management Casino, EveryMatrix, said: “Expanding the ATG® Casino deal with Fantasma Games titles was the natural next step of our partnership. By combining our aggregated and in-house content with our premium jackpot solution, ATG® will deliver a more engaging and differentiated experience to its players.”

Jan Sonnevi, Head of Casino, ATG, said: “Partnering with EveryMatrix has allowed us to introduce high-quality content and innovative engagement features to our players. We already saw how successful these additions were thanks to the record-breaking win registered by one of our players in January.” EveryMatrix noted ATG previously recorded a 1.4 million MEGA Jackpot win earlier this year using EngageSuite Jackpots.

The post ATG Casino goes live with Fantasma Games slots via EveryMatrix in Sweden appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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