Blockchain
Online Gambling Market Size & Share | North America, Europe, & APAC Industry Forecasts 2026: Graphical Research
The global online gambling market size is poised to rise substantially during the forecast timeframe owing to the potential for financial rewards, along with the penetration of the internet. With growing betting opportunities, industry players have also prioritized the advertisement of promotion of codes. Cloud providers are seeking solutions in unlimited computing and storage capabilities to help online gambling companies expand their penetration. Trends that are expected to influence online betting business are elucidated below:
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- Expansion of casinos in the U.S. bodes well
Casinos are cashing in on the prospect of online gambling through the integration of AI to assess customer behavior and boost personalization. The technology has become trendier to analyze and bolster customer experience. Online casinos will further gain impetus with technological advancements, ease of playing for newbies, promotions and bonuses. With the future of casinos slated to be virtual, major casino platforms are likely to invest in online channels. North America online gambling market size is likely to surpass USD 20 billion by 2026.
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- Online betting to gain ground across North America
Expanding prominence of e-sports, football, horse racing and tennis has fared well for the prominence of online betting. The growth of sports leagues, coupled with the integration of local sportsbooks, has fueled the penetration in the U.S. and Canada. Prominently, the rising presence of legal sports betting has helped governments explore opportunities in the form of tax revenue and job opportunities.
It is pertinent to mention that the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act (PASPA) in 2018 that limited sports betting. Moreover, the expansion of leading sports leagues, such as NBL and NHL will also boost the business outlook.
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- Europe poised to be the hub for eSports
At the time when Europe’s tech hubs are pushing eSports to the next level, businesses are flocking to the trend in the midst of the COVID-19 outbreak. The exposure of esports could be pronounced in Italy, Spain, France, the U.K. and Germany. Millennials and the Gen Z population have shown traction for a host of offerings, including live streams, pay- and free- TV, and video-on-demand.
E-sports has become a force to reckon with as companies strive to leverage brand power across the region. Europe online gambling market size could surpass USD 70 billion by 2026. The robust outlook is attributed largely to the arrival of new game formats, the uptake of content rights sales and convergence among entertainment, telecom and sports companies.
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- Exploring opportunities in mobile gambling in Europe
With online gambling entering a new phase towards becoming a lucrative market, the next few years will shape the global market on multiple revenue sources—mobile devices being one of them. Notably, the emergence of 5G networks played a monumental role to bolster the rise of mobile gambling. Smartphone technology has brought a paradigm shift and played a major role in resisting the challenges of 2020. The prevalence of a large number of people, proximity, cash changing hands in an enclosed environment became a major factor shifting attention from brick-and-mortar to mobile gambling.
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- Poker thrives in Asia Pacific market
Several online gambling sites have shown an increased inclination for poker underpinned by the use of mobile wallets. Prominently, referral-based currency and free joining bonuses have become the go-to business model. The trend for online poker is mainly down to the fact that customers are not confined by geography, are spoilt for choices and can play 24/7 on any device. Besides, poker rooms in China, Japan and Australia have followed the suit of online bingo rooms and casino games, offering slots and more choices and opportunities to gamble. Asia Pacific online gambling market share is forecast to exceed USD 50 billion by 2026.
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- Desktop gambling sought-after in China and India
Over the years, desktop gambling has thrived and is striving to withstand challenges emanating from the rise of smartphone technology. Given the significance of convenience, several players prefer gambling on a PC. Not to mention, gambling on a computer has seemingly outnumbered mobile gambling in emerging economies, including India and China. Desktop could contribute a notable share towards global online gambling market by 2026, partly due to the demand for improved picture quality and storage capacity.
The interest of leagues, sports personalities and clubs, and agencies will expedite the growth of global online betting. Agencies are expected to bring their experience in sports marketing, while the inclusion of sports teams will provide an impetus to the acceptance and awareness of esports, for instance.
Strategic partners are likely to add revenue, capital and know-how to the online betting ecosystem. In a bid to stay ahead of the trends and keep up with the demands of stakeholders, blockchain, VR and IoT are expected to be sought globally. While there’s no denying that the pandemic put the industry to the test, a high proportion of newbies and a surged consumption compared to the pre-COVID levels fared well for the global forecast.
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Blockchain
JuicyBet Launches Its Innovative GambleFi Platform
JuicyBet, a Web3 startup, announced the launch of its GambleFi platform. This platform combines finance technology and gambling via blockchain to create unique opportunities and experiences for users. The company strives to revolutionize the principles of the online betting industry and the interaction between platforms and users in this market.
What is GambleFi?
GambleFi uses blockchain technology to ensure the fairness and transparency of games and betting outcomes and for players to get their share of the platform’s earnings and participate in its governance and day-to-day by holding its tokens.
How JuicyBet works
JuicyBet fully utilizes blockchain technology to establish a new ecosystem that has never been seen in the gambling industry. It is centered around user participation and transparency while providing gambling thrills and quality entertainment.
All game records on the platform are kept in a public blockchain, while a set of smart contracts automates gaming outcomes and payouts and provides for the platform governance via the DAO model. This reduces fraud risks and operational costs, making JuicyBet a more efficient platform.
However, the platform’s main feature is the unprecedented level of user engagement via the platform’s native tokens.
- First, the tokens provide access to betting.
- Second, token holders get their share of the platform’s profit.
- Third, token holders can vote on key decisions on the platform’s development in JuicyBet DAO.
- And finally, DAO participants can also perform the role of oracles for bets and earn rewards.
In other words, JuicyBet doesn’t try to be just another gambling platform. It establishes a new ecosystem where users are in control of the platform and bets and are the beneficiaries of the platform.
In addition, JuicyBet offers additional earning opportunities, such as Double Farming and staking for token holders.
JuicyBet has already been noticed by users and investors – the platform’s 3-month turnover has exceeded $1,5 million, according to on-chain data available via Dune, and multiple centralized exchanges and launchpads have listed it.
Blockchain
Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity
Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.
This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.
Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”
This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.
The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.
Blockchain
HIPTHER Announces Major Expansion into Fintech, Blockchain, and AI, Reinforcing Its Position as a Diverse Industry News Leader
Building on its established success in the gambling and iGaming sectors, HIPTHER Agency is excited to announce a significant expansion of its editorial focus into three dynamic industries: fintech, blockchain, and artificial intelligence. This strategic move is part of HIPTHER’s ongoing commitment to providing comprehensive, in-depth coverage across a spectrum of industries, including virtual reality, esports, and official global government releases.
Focused Expansion for a Diverse Audience
The expansion into fintech, blockchain, and AI represents HIPTHER’s dedication to staying at the forefront of technological and financial advancements. By integrating these sectors into the HIPTHER .com platform, the agency offers its audience a rich, diverse content experience, positioning itself as a one-stop destination for insights across these cutting-edge fields.
Enhanced Digital Presence and Accessibility
Complementing this expansion, HIPTHER continues to enhance its digital footprint. The agency’s Android app has already established a strong user base, and with the anticipation of an iOS app in 2024, HIPTHER is set to broaden its reach and accessibility. The agency’s social media channels are also being rebranded to reflect this expanded focus, ensuring a cohesive and comprehensive digital experience.
Unwavering Commitment to Quality and Insight
HIPTHER, known for its high-quality content in the gambling industry, extends this commitment to its new sectors. The agency’s team of experts and seasoned journalists is dedicated to delivering insightful, accurate, and timely information, catering to the needs of a diverse, global audience.
Zoltan Tundik, Co-Founder and Head of Business at HIPTHER, states, “Our expansion into fintech, blockchain, and AI is a natural progression of our mission to provide diverse, in-depth industry news. We’re excited to bring our expertise and quality content to these vibrant sectors, while continuing to serve our existing audiences with the coverage they trust.”
For more information, please visit HIPTHER.com
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