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Here’s a Look at the Top Trends Shaping the Online Gambling Market
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
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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BetFury Marks Its 6 Years With the Grand $1.5M+ Furyverse 6.0 Celebration
Year after year, BetFury continues to captivate players and crypto enthusiasts with large-scale events — and this milestone is no exception. To mark its 6th Anniversary, the platform has unveiled Furyverse 6.0 Birthday, a multi-week celebration running until November 14, 2025. Featuring a progressive $1,500,000 prize pool, the campaign offers participants the chance to engage in a series of competitive activities and battles with structured rewards.
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Danko Vukovic Managing Director at Elbet
QTech Games strengthens its elite suite with Elbet’s slots and crash games
Reading Time: 2 minutes
Emerging-markets leader expands its all-encompassing library with exciting new portfolio
QTech Games, the leading game aggregator for all emerging markets, has signed its latest provider partnership with Elbet, enabling its platform customers to access the supplier’s innovative range of crash games and slots.
Elbet has won critical and commercial acclaim in a variety of markets – including Latin America and Africa, key markets for QTech Games – and will now have its spectrum of crash games and broader slots content made available to QTech’s growing group of operator partners in these territories. The deal also organically broadens Elbet’s international footprint across Asia, QTech’s continent of formative growth and dominance.
These popular titles include its flagship crash game Rocketman, alongside Soaring, Soccer Rush and Raccoon Rush, not to mention its wider slots catalogue. More generally, Elbet’s varied content also caters for every player type with fast-paced games across virtual sports, classic casino as well as bingo, instant-win games and these in-demand crash titles.
As the fastest-growing aggregator over the past few years, QTech’s platform offers the most expansive gaming portfolio around, localised for each region, with native mobile apps, powerful reporting and marketing tools, and 24/7 local-language support.
QTech Games CEO, Philip Doftvik, said: “Our ever-growing suite of products has long featured the best slots and crash games from all around the world, and Elbet is the latest impressive exponent in the latter domain. Their focus on this white-hot mini-vertical affords our clients even more engaging content which we’re sure will increase the retention and acquisition of customers.”
“Theirs is a growing and constantly innovating library, delivering consistent support to the growth of our broad gaming-vertical spread, courtesy of some quality graphics, gameplay and unique features.
Danko Vuković, Managing Director at Elbet, added: “This agreement naturally broadens Elbet’s global scope, targeting untapped territories across Asia, alongside our ongoing Africa to Latin America, and creating new revenue streams. We are dedicated to innovation and excellence, continually striving to enhance our offerings and support the growth and success of our partners, and QTech’s expansive distributional influence is second to none.
“Together, we can raise the igaming bar and shape a localised experience for global players. So, we can’t wait to witness how these games perform. Elbet is targeting only the finest content aggregators to improve our visibility and influence in the sector, and QTech Games sets the gold standard for emerging markets.”
The post QTech Games strengthens its elite suite with Elbet’s slots and crash games appeared first on European Gaming Industry News.
Frank Heinänen Executive Managing Director at Together Gaming Solutions
Together Gaming Solutions Chooses Internet Vikings as Hosting Provider for VMware Cloud and Backup Services
Reading Time: < 1 minute
Internet Vikings, a hosting provider for the European and the America’s iGaming and online sports betting industry, announces it entered into an agreement with Together Gaming Solutions, a cloud-based platform provider. Together Gaming Solutions has chosen Internet Vikings as its hosting provider, leveraging VMware cloud services and backup servers in Europe.
Together Gaming Solution’s decision to partner with Internet Vikings was directed by the hosting provider’s established reputation, competitive hosting packages, and personalized account management. Together Gaming Solutions also highlighted Internet Vikings’ customer-centric support and proven reliability in the iGaming industry as determining factors in their choice.
“Internet Vikings stood out for their technical expertise, and experience” said Frank Heinänen, Executive Managing Director, at Together Gaming Solutions. “Their services provide the reliability we need to deliver solutions to our clients. This partnership will enhance our platform’s performance and support our long-term goals.”
Internet Vikings’ backup services ensure business continuity, data security, and compliance with regulatory GDPR requirements, offering Together Gaming Solutions peace of mind as they focus on their core operations.
“We are glad to support Together Gaming Solutions with our reliable hosting,” said Rickard Vikström, CEO, and Founder of Internet Vikings. “We have found that our personalized approach meets the needs of iGaming operators, and we are happy to offer the solutions that meet their requirements.”
The post Together Gaming Solutions Chooses Internet Vikings as Hosting Provider for VMware Cloud and Backup Services appeared first on European Gaming Industry News.
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