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Online Gambling & Betting Market Size worth $ 182.2 Billion by 2031 – TMR Study

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Transparency Market Research Inc. – The study analysts observed the growing popularity of online betting games involving of offering real money through online casinos. Online gambling companies are reaping revenue streams from the growing market value of the online gambling & betting, which is forecast to reach US$ 182.2 Bn by 2031. The demand analysis of online gambling & betting market has underscored the growing trend of smartphone-based gaming globally and rapidly increasing adoption of mobile instant messaging.

Many companies engaged in online casinos are keenly looking to leverage recent innovations in gaming technologies in a bid to enchant gamers. Furthermore, most key players in online gambling & betting market are leaning on constantly building up their brand equity through promoting these technologies and various benefits they bring to gamers, such as access to real-time analytics.

Key Findings of Online Gambling & Betting Market Study

  • Growing Popularity of Online Sports Betting Pivots Tremendous Growth OpportunityRising inclination toward online sports betting is expanding the canvas for generating revenues in online gambling & betting market. Growing awareness of the sites that allow online sports betting has catalyzed the expansion of market opportunities.
  • Rising Adoption of Smartphone-Based Gaming Generating Sizable RevenuesPenetration of smartphones and low-cost internet services has enabled online gambling companies to expand their product portfolio notably in emerging economies of Asia Pacific. The popularity of fantasy sports and focus on expanding the reach for audience for football and cricket have led to several profitable avenues for players in the online gambling & betting market.
  • Commercialization of VR-based Headsets and Immersive Technologies Fueling Market ProspectsA slew of products that help gamers to immerse themselves in the activities have been widely commercialized and adopted. Stridently, virtual reality (VR) technology-enabled headsets have gathered traction, thus fueling the prospects of online gambling & betting market. Of note, online poker tournaments are gathering steams, thus expanding profitable avenue.

Online Gambling & Betting Market: Key Drivers

  • Relaxation of laws and regulations on online gambling & betting in several developing and developed nations is a key driver of the expansion of market prospects. Especially online casinos had struck a favorable chord with consumers during the COVID-19 pandemic lockdowns.
  • Cost-effective access to high-speed internet is a key pivot for the online gambling & betting market growth. Rise in popularity of internet-based gambling is invigorating demand.

Online Gambling & Betting Market: Regional Growth Dynamics

  • The TMR study found that Europe led the global market in 2021, as it accounted for a major share. North America has also been a lucrative region in online gambling & betting market. In this regard, growing adoption of immersive technologies for online gambling & betting is boosting the U.S. online gambling market size.
  • Asia Pacific online gambling & betting market is projected to expand at a remarkable growth rate during the forecast period of 2022 – 2031. Favroable legal framework in several economies is a key underpinning for revenue growth in the regional market in recent years. Apart from this, penetration of low-cost internet services in the region has accelerated the prospects of sports betting and gambling for market players.

Online Gambling & Betting Market: Competition Landscape

Firms are increasingly geared toward strengthening their online sports betting platforms reinforced by sponsorship in popular sports, which boosted their online gambling & betting market shares. The competition landscape is now characterized by high consolidation owing to relatively few large players holding majority of the stakes.

Some of the key market players are William Hill plc, Mybet Holding, Betsson AB, Kindred Group, The Betway Group, Betfred Ltd., Bet365 Group Ltd, GVC Holdings Plc, Fortuna Entertainment Group, The Stars Group, and 888 Holdings plc.

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Online Gambling & Betting Market Segmentation

  • Gaming Type
    • Poker
    • Casino
    • Social Gaming
    • Lottery
    • Bingo
    • Fantasy Sports
    • Sports Betting
      • Football
      • Rugby
      • Basketball
      • Hockey
      • Cricket
      • Others (Baseball, Cycling, etc.)
  • Device Type
    • Desktops & Laptops
    • Mobiles & Tablets
  • Gaming Source
    • Foreign Gaming Sources
    • Local Gaming Sources

Regions Covered

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

Consumer Goods Research Reports

Sports Betting Market – The global sports betting market is expected to reach US$ 653.5 Bn by the end of 2031, grow at a CAGR of 9.8% from 2022 to 2031

Internet Sports Betting Market – The Internet sports betting market is projected to expand at CAGR of 12.1% during the forecast period 2021–2031

Sports Betting Kiosk Market – The global sports betting kiosk market is expected to register a CAGR of 7% between 2019 and 2027

Virtual Reality in Gaming Market – The global virtual reality in gaming market is expected to reach US$ 86.22 Bn by the end of 2031, grow at a CAGR of 32.3% from 2022 to 2031

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Smart Card Market- Smart Card Market is expected to reach US$ 33.5 Bn by the end of 2031

Commercial Drones Market- Commercial Drones Market is expected to cross the value of US$ 11.30 Bn by the end of 2031

Smart Toys Market- Smart Toys Market is expected to cross the value of US$ 54.1 Bn by the end of 2031

Adult Entertainment Market- Adult Entertainment Market to reach US$ 300 Bn by 2030

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AGLC

AGLC Announces New Board Chair

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Alberta Gaming, Liquor and Cannabis (AGLC) has announced the appointment of Larry Spagnolo as the new Board Chair, effective August 15, 2025. This announcement follows the official Order in Council issued by the Alberta Government and marks a new chapter in AGLC’s ongoing commitment to support communities, encourage responsible choices and position Alberta as the best place to do business.

Larry brings a wealth of experience in technology and business leadership to the AGLC Board and will play an integral role in guiding AGLC’s strategic direction. He is currently serving as VP and GM of Emerson’s SaaS SCADA business and has held senior roles at Zedi and Telus, driving innovation, growth, and global success.

A strong advocate for education and community, Larry serves as Vice Chair of Athabasca University’s Board of Governors and has held board roles with NAIT and Polytechnics Canada. He was awarded the King Charles III Coronation Medal for his community contributions.

AGLC and the Board of Directors extend their heartfelt thanks to Len Rhodes for his leadership and dedication as Board Chair since August 2019. He decided not to seek a third term and will continue to serve in this role until August 14, 2025. Len led AGLC through some significant milestones, including reducing red tape by 51%, growth of the emerging cannabis industry and ensuring AGLC delivered a balanced approach to business development, social responsibility, and regulatory oversight.

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Bonus Guardian

Pinnacle Ontario live with CasinoEngine in North America debut

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EveryMatrix has expanded its partnership with tier-1 operator Pinnacle powering its new casino in Ontario, Canada, using CasinoEngine platform technology – the first time its platform solution has gone live in North America. 

The latest agreement builds on the two companies’ previous collaboration that saw EveryMatrix’s CasinoEngine productivity platform power the well-known brand’s global casino offering.

The new launch takes the relationship to North America, marking EveryMatrix’s debut CasinoEngine platform integration in that market.

BonusEngine, EveryMatrix’s cross-vertical bonusing tool will be integrated in the second phase of launch. This will equip Pinnacle Ontario with a host of bonus types as well as AI-powered bonus abuse solution Bonus Guardian.

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BonusEngine is the first of multiple engagement tools from EveryMatrix’s EngageSuite that Pinnacle plans to integrate.

With this comprehensive toolkit at its disposal, and the opportunity to add even more casino products in the future, Pinnacle Ontario can tailor campaigns, segment audiences, and reward players more effectively, creating a world-class digital entertainment experience for its customers.

EveryMatrix has more than 300 global customers and holds North American licences in Ontario, New Jersey, Michigan, West Virginia, Connecticut and Pennsylvania.

Stian Enger Petersen, CEO, Casino, EveryMatrix, said: “This launch marks a key milestone for EveryMatrix as we bring our market-leading CasinoEngine platform to Canada for the first time.

“We’re delighted to expand our partnership with Pinnacle and support their ambitions in Ontario with a powerful combination of platform, content, and engagement tools that are proven to drive success.”

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AGCO

Prime Skill Games Inc. Official Response to AGCO Press Release

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As CEO of Prime Skill Games Inc., I feel compelled to address recent comments made by the Alcohol and Gaming Commission of Ontario regarding so-called unapproved gambling machines in convenience stores across the province.

Let me be perfectly clear

Our machines are not gambling devices. They are entirely skill-based, fully compliant with the law, and built on the fundamental idea that players are in control. The outcome of every session is determined solely by the player’s ability, not by random chance.

Prime Skill Games is proud to be the only true skill game operating in Ontario today.

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We categorically reject any suggestion that our products fall under the definition of unregulated gambling. Such statements are inaccurate, misleading, and fail to recognize the critical distinction between games of skill and games of chance.

We stand firmly behind the legality of our machines and the integrity of our operations. We will demonstrate this through every available means, whether through legal documentation, expert analysis, or, if necessary, before the courts. We are prepared and unafraid to defend the truth.

To our players, partners, and business community, we want to reassure you that our mission has not changed. We are committed to offering a responsible, transparent, and innovative entertainment experience. We will not be intimidated by broad and baseless accusations, and we will continue to move forward with strength and clarity.

 

Sincerely

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Matt Zamroźniak

Chief Executive Officer

Prime Skill Games Inc.

The post Prime Skill Games Inc. Official Response to AGCO Press Release appeared first on Gaming and Gambling Industry in the Americas.

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