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New Analysis from Global Industry Analysts Reveals Steady Growth for Gambling, with the Market to Reach $876 Billion Worldwide by 2026
A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Gambling – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
What’s New for 2022?
- Global competitiveness and key competitor percentage market shares
- Market presence across multiple geographies – Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to our digital archives and MarketGlass Research Platform
- Complimentary updates for one year
Edition: 8; Released: February 2022
Executive Pool: 2109
Companies: 223 – Players covered include 888 Holdings PLC; Bet365 Group Ltd.; Flutter Entertainment plc; Betsoft Gaming, LTD; Betsson AB; Boyd Gaming Corporation; Bwin.Party Digital Entertainment; Caesars Entertainment Corp.; Cherry Spelglädje AB; Chetu Inc.; City of Dreams Manila; Creatiosoft Solutions Private Limited; Crown Resorts Ltd.; Delaware Park; Elaunch Solution Pvt. Ltd; Evolution Gaming; Galaxy Entertainment Group; Golden Entertainment Inc.; Kindred Group PLC; Ladbrokes Coral; Las Vegas Sands Corp.; MGM Resorts International; Microgaming; NetEnt AB; Playson Limited; Scientific Games Corporation; SJM Holdings Limited; William Hill Plc and Others.
Coverage: All major geographies and key segments
Segments: Type (Lottery, Betting, Casino); Platform (Offline, Online)
Geographies: World; USA; Canada; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
Complimentary Project Preview – This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass ABSTRACT- Global Gambling Market to Reach $876 Billion by 2026 Amid the COVID-19 crisis, the global market for Gambling estimated at US$747.9 Billion in year 2022, is projected to reach a revised size of US$876 Billion by 2026, growing at a CAGR of 3.6% over the analysis period. Lottery, one of the segments analyzed in the report, is projected to record a 2.8% CAGR and reach US$372.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Betting segment is readjusted to a revised 4.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $267.5 Billion in 2022, While Asia-Pacific is Forecast to Reach $322.4 Billion by 2026 Gambling market in the U.S. is estimated at US$267.5 Billion in the year 2022. Asia-Pacific (including China) is forecast to reach a projected market size of US$322.4 Billion by the year 2026 trailing a CAGR of 4.4% over the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 3.1% and 3.5% respectively over the analysis period. The post COVID-19 period will offer exciting opportunities for mobile gambling. As mobile devices support advances features and are easy to operate, mobile gambling is an enticing option for gamers. With majority of casino game providers offering plethora of options, it is easier for players to enjoy these platforms anytime, anywhere without waiting to access their personal computers. Advances in the field of mobile technology coupled with better accessibility and connectivity have enabled a large number of players to participate in remote gambling. With rapid transition from console toward mobile, mobile gambling is poised to emerge a rapid growing platform.
Casino Segment to Reach $153.1 Billion by 2026 MarketGlass Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include – enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Gambling has been a main recreational activity for man since time immemorial. The act of gambling releases dopamine in the brain similar to the effect of drugs of abuse substances such as nirvana and heroin. The stimuli, arouses the senses creating a sense of happiness and satisfaction. Also, gambling provides an escape from everyday stress and boredom. In addition to invoking fun and random luck, gambling also offers a sense of collective engagement. The modern of age of glitzy casino environment has additionally morphed gambling into a stylish and fashionable form of entertainment. Legalized gambling also brings economic benefits in the form of tax revenues for the governments and profits for gambling facilities and communities. For this reason, legal gambling has been a growing phenomenon in several countries including in the United States in recent decades. The popularity of gambling in the country can be put into perspective by the fact that over 80% of American adults gamble at least once in their lifetime. As a large number of people spending more time on mobile devices, remote gambling developers and platforms are using the option to expand their customer base. Smart devices available on the market allow users to access comprehensive spectrum of mobile gambling games on the go.
Given that tourists and locals are key revenue contributors for brick and mortar casinos, revenues plummeted significantly. Unemployment and reduced consumer discretionary income also remain key challenges to a speedy recovery. Also, since a significant amount of money spent on gambling is attributed to slot machines at locations such as hotels and airports, the closures of airports and hotels is affecting revenue generation from these areas. Lockdowns have resulted significant revenues losses compared to the previous year. For instance, in New Orleans the gambling market has already witnessed more than 60% decline in revenues during the pandemic when compared to the previous years, due to the closures. The casino industry is also impacted by the fact that tourism and leisure sectors along with air travel, which are vital for the industry growth, have been hit hard by the pandemic.
In the global Casino Segment, USA, Canada, Europe and Asia-Pacific will drive the 3.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$116.3 Billion will reach a projected size of US$149.9 Billion by the close of the analysis period. Asia-Pacific (including China) will remain among the fastest growing in this cluster of regional markets and is forecast to reach US$34.5 Billion by the year 2026.
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The Alcohol and Gaming Commission of Ontario (AGCO) has updated several lottery policies to remove the cap on seller commission for Paper Raffles and Media Bingo, along with removing the prohibition on Catch the Ace paper lotteries, to align with other charitable lottery products.
Licensed charities may now negotiate commissions directly with sellers and determine commissions, provided they are reasonable and tied to the cost of service provided by the seller.
These updates further the AGCO’s commitment to adopt an outcomes-based regulatory approach and reduce burden for the charitable gaming sector. Local charitable organizations will have greater flexibility to make decisions that best serve their fundraising objectives.
Important Reminders
• Charities must still receive approval for other expenses incurred under their licence and retain receipts for seller commission paid.
• Licensing authorities will not require documentation to be submitted as part of the application process, however, charities are still subject to audit to determine compliance.
• Charities are reminded of their legal requirement to meet their obligations under the Criminal Code and with respect to conducting and managing a charitable gaming scheme.
• As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario.
For charitable gaming-related inquiries, email an AGCO Eligibility Officer at [email protected] or call AGCO Customer Service at 1-800-522-2876, Monday to Friday from 8:30 a.m. to 5 p.m.
The post AGCO Removes Cap on Seller Commission for Charitable Lottery Products appeared first on Gaming and Gambling Industry in the Americas.
Leading business, technology, finance, and gaming law firm, Segev LLP, is proud to announce its 10th anniversary. Over the past decade, Segev has evolved from a bold idea into a multi-jurisdictional firm serving clients across Canada, the U.S., and beyond.
Built for innovation-driven industries, the firm is widely recognized for its work with companies at the forefront of gaming, crypto, technology, and emerging sectors. “Our 10-year anniversary is a defining moment,” said Founding Partner, Ron Segev. “It’s a testament to the strength of our team and our culture of teamwork, self-improvement, and growth – all of which is directed at scoring wins for our great clients.”
As industries like fintech, crypto, iGaming, and AI have matured, so has the firm, often in parallel with its clients. “We’ve all grown together with our clients from one success to the next, whether it be helping clients complete financings or helping them close business,” said Managing Partner Alon Segev. “I look forward to continued growth for us and our clients in the next 10 years!”
The firm’s client-first approach has consistently earned recognition from top legal ranking guides. Segev LLP is ranked by Chambers and Partners as a “Leading Firm” and “Band-1” in Canada for Gaming Law and are also recommended by The Legal 500 and Lexology. These rankings reflect the team’s ability to deliver strategic, high-quality legal solutions that align with their clients’ business goals.
Recognized for their unique ability to exceed expectations and deliver out-of-the-box solutions, Segev LLP’s clients have affirmed: “The firm demonstrates its capability not only to understand complex matters, but also to offer solutions that are practical, pragmatic, and value-adding.”
“Segev possesses outstanding resources and maintains global partnerships, enabling it to deliver precise and informed responses to any queries related to the iGaming industry.”
“Epic service, very good, I won the case!”
“Great service, friendly atmosphere, and support.”
Several Segev team members also reflected on the milestone: “There was a moment early in my time here when I realized I wasn’t just being brought in to help; I was expected to contribute, take initiative, and run with big ideas. That stuck with me,” said Negin Alavi.
“Together with our clients, [Segev] has experienced remarkable growth over the past decade. I’m honored to have contributed to this journey and to celebrate these shared successes,” said David McHugh.
“Segev has cultivated a thriving law practice on the principle that challenges are to be embraced as opportunities. The approach has enabled us to grow as lawyers, but more importantly, it has enabled us to ensure the success of our clients,” said Mark Balestra.
“Since joining through Segev’s Ontario expansion, I’ve had the chance to work alongside some of the sharpest and most collaborative lawyers in the gaming space,” added Manav Bhargava. “As a full-service firm and industry leader, Segev stands out for its ability to support innovative businesses with practical, forward-thinking legal advice.”
Segev LLP will commemorate the anniversary with a series of internal and external initiatives throughout the remainder of the year.
The post Segev LLP Celebrates 10 Years of Business-Focused Legal Innovation appeared first on Gaming and Gambling Industry in the Americas.
Incentive Games, a leading B2B games provider, is proud to announce that it has been awarded an Ontario Gaming License by the Alcohol and Gaming Commission of Ontario (AGCO), effective today. This achievement enables the company to offer its portfolio of real-money games to licensed operators and players across the province.
The license underscores the Incentive Games’ commitment to meeting the highest standards of compliance, security, and operational excellence. The rigorous application process demands robust security protocols and comprehensive responsible gaming measures and affirms the company’s readiness to enter one of Canada’s most dynamic iGaming markets.
The North American market is a strategic focus for Incentive Games, and this milestone follows closely on the heels of the company receiving its Provisional Michigan gaming licence from the Michigan Gaming Control Board earlier this month.
Incentive Games will distribute its real-money gaming content in Ontario through Incentive Studios, the company’s dedicated Real-Money Gaming division, ensuring a focused and tailored approach to the market.
“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said John Gordon, Chief Executive Officer at Incentive Games. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”
The post INCENTIVE GAMES SECURES ONTARIO GAMING LICENSE appeared first on Gaming and Gambling Industry in the Americas.
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