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Online Gambling Global Market Report 2022: Implementation of Blockchain, IoT and VR Technology Presents Lucrative Opportunities
The “Online Gambling Global Market Report 2022, By Game Type, Device, Component” report has been added to ResearchAndMarket’s offering.
The global online gambling market is expected grow from $73.42 billion in 2021 to $81.08billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The market is expected to reach $115.13 billion in 2026 at a CAGR of 9.2%.
The online gambling market comprises of revenue generated by remote gaming activities by means of the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casino, bingo, lotteries, and poker games, among others.
The main game types of online gambling are betting, casino, lottery, poker, online bingo and others. A lottery is a type of gambling in which numbers are drawn at random for a prize. The games are played in various devices such as desktop, mobile and others. The different components include software, services.
Asia Pacific was the largest region in the online gambling market in 2021. Eastern Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the online gambling market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing adoption of smartphones with improved internet accessibility is driving the online gambling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, the mobile users account for about 80% of all users in the online gambling industry. According to the study published by the Gambling Commission, in 2020, the most common method of accessing online gambling remained mobile phones, particularly among younger people.
The online gambling laws vary wildly from one region to other. Most countries have their own local laws that deal with the relevant legal and regulatory issues. Countries such as the USA, have much more complex gambling regulatory process. Moreover, in countries like India, gambling is under strict control. With each individual country enacting different gambling laws, it’s tough to be familiar with them all.
Nevertheless, all gambling sites should be compliant with any laws that they are subject to, to ensure gambling sites are operated lawfully, ethically, and are safe. The established and reputable licensing authorities impose a strict code of conduct on the licensees, who have to adhere to the necessary regulations if they are to maintain their licenses. The strict and varying laws across the countries are likely to challenge the market growth.
Technologies such as Blockchain, IoT and VR are changing everything in every field including online gambling. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are revolutionary addition to the world of online gambling. With VR, one can actually enter into a virtual casino and play all the games without having to travel. However, fraud and cheating were majorly concerning the users in online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes.
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Alex Scott Chief Product Officer at Tequity
Q&A with Tequity’s new Chief Product Officer Alex Scott
Following his appointment as Chief Product Officer at iGaming software pioneer Tequity, industry veteran Alex Scott outlines his vision for the company’s expanding product suite. With over 20 years of leadership experience, including driving WPT Global to become the world’s second-largest online poker room, he shares his insights on how Tequity’s approach is redefining both the games players enjoy and the way they are distributed.
You have held senior leadership roles at major operators and suppliers. What convinced you to join Tequity, and what are your main priorities as CPO?
Tequity is a business that I’ve admired since I first became aware of it. In that time I’ve heard so many positive things about how the company is able to move very quickly and decisively, while still delivering ultra high quality products for its partners. When I started interviewing for the position and meeting the people involved, that only reinforced the positive impression I had. It was clear to me that this was a company that is at the forefront of innovation in the iGaming space, creating and delivering content that is fresh and exciting.
My priority as CPO is to further accelerate the development of top-quality products that are highly relevant to today’s players. I’m excited to roll up my sleeves and get stuck in – there are so many possibilities!
Tequity recently secured BMM Testlabs certification for its RNG and the first batch of Originals titles. How does that accelerate your product roadmap?
This certification will open up many more potential customers for Tequity, and therefore many more opportunities for businesses to take advantage of Tequity’s services, like our bespoke Exclusives and our top-performing Originals. Operators fighting for market share are always looking for those added-value elements that can set them apart from the competition and our fully brandable, customisable and feature-packed content offers that key point of difference.
It will also enable the studios using our RGS and Publishing solutions to widen their own distribution and reach many more potential customers as well – just another reason to choose our RGS. We have seen the strong demand for our games and solutions from partners all over the world, and we believe that this appetite will be more than matched by operators in the regulated market space.
Finally, it represents s a step towards a wider regulated market expansion which I am excited to be involved in.
Player preferences are moving decisively toward fast-paced, community-driven experiences. How do Tequity’s game divisions cater to this next generation of player engagement?
One of the things that sets Tequity apart is that the company truly understands what the modern generation of players are looking for. They are discovering online casino in a very different way to past generations, and require simpler, easier to understand, more socially-driven content if you want their full attention. Today’s players expect instant gratification and seamless, mobile-first experiences that fit into their fast-paced lifestyles. They also want gameplay to feel like less of a solitary activity and more of a shared event.
Having spent recent months immersed in casino game development for the crypto generation, I’m really looking forward to contributing to these efforts and having an impact of my own.
You will be joining the Tequity team at iGB Live in London next month. What is the key takeaway you want operators and studios to leave with?
As the newest Tequity signing, I’m looking forward to meeting the rest of the team and many of our partners and customers at iGB Live.
Tequity is an extremely fast and capable company that builds high-quality, interesting products at the cutting-edge of the industry. My hope is that operators and studios leave the event understanding our expertise and capabilities. But I also want them to leave with a sense of the enthusiasm and passion that we have for building great games that stand out from the crowd.
The post Q&A with Tequity’s new Chief Product Officer Alex Scott appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Ariel Reem CEO at Games Valley
Games Valley adds SPRIBE’s Aviator crash game to aggregation platform
Deal adds the flagship crash title to Games Valley’s operator distribution network via a single integration.
Games Valley has added SPRIBE’s crash game Aviator to its aggregation platform, extending operator access to the supplier’s flagship title.
Under the agreement, Aviator will be distributed through Games Valley’s platform to its network of operators across regulated and emerging markets.
SPRIBE said Aviator reaches more than 77 million monthly active players, processes over 400,000 bets per minute, and accounts for more than 90% of the global crash-game market.
Ariel Reem, CEO at Games Valley, said: “Aviator is one of those rare games that has become a category-defining product. For operators, this is exactly the kind of content that can make an immediate impact. At Games Valley, we’re focused on giving operators access to the games players already know and trust, while helping them maximise performance through a fast, flexible aggregation platform.”
Giorgi Tsutskiridze, CCO at SPRIBE, said: “Games Valley has built a strong reputation as a modern aggregation partner for operators that want access to premium casino content quickly, efficiently and reliably. Through this partnership, we are able to bring Aviator to a wider network of operators through a platform that understands the value of proven, high-performing content in both established and fast-growing markets.”
The post Games Valley adds SPRIBE’s Aviator crash game to aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
Microgaming expands Playboy-branded live casino and adds new slot
Playboy Gems and Desires launches 10 June as the supplier highlights roulette and faster baccarat formats in Microgaming Live.
Microgaming is spotlighting its official Playboy partnership across live casino and slots, as it continues to build a portfolio of Playboy-branded content for operators. The company said its latest slot, Playboy Gems and Desires, launched on 10 June.
In live casino, Microgaming said Playboy Roulette is positioned as the core title within a wider Playboy-branded suite available through Microgaming Live. The supplier said the live range includes multiple table formats presented in a branded studio environment.
Microgaming also pointed to Playboy Speed Baccarat, which it said runs rounds 30% faster than standard baccarat and includes features such as multi-table mode, side bets, statistics and racetrack bets.
Across the live product line-up, the company said the Playboy branding extends to elements including Playboy Bunny presenters, branded tables and live chat, alongside operator-facing marketing options. On slots, Microgaming said Playboy Gems and Desires includes Wild stacks, B-U-N-N-Y-triggered Free Spins, a Jackpot Wheel and a top win potential of up to 5,000x the bet.
A Microgaming spokesperson said: “Playboy is a brand with a unique place in popular culture, and our official partnership gives us the opportunity to build something that feels much broader than a single table or title. What makes this relationship so exciting is the ability to bring that unmistakable sense of style and premium entertainment to life across various formats. Playboy Gems and Desires is the latest chapter in that story, and a strong example of how the Playboy identity can continue to evolve across both slots and live casino.”
The post Microgaming expands Playboy-branded live casino and adds new slot appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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