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Global Online Gambling Market Trends, Growth, and Forecasts Report 2023-2028: Various Sponsorships and Convenient Payment Options Driving the Market
The “Online Gambling Market – Growth, Trends, and Forecasts (2023-2028)” report has been added to ResearchAndMarkets’s offering.
The Online Gambling Market is projected to record a CAGR of 11.49% over the next five years.
There has been a rise in the popularity of draw-based and scratch-off instant games, especially across European countries, which may positively impact the growth of the market studied. The increased penetration of smartphones is leading to an increase in several mobile application-based lottery games.
The end-user has the convenience and comfort of gambling within the comfort of their own space, which is one of the major drivers of the segment. Casino gambling has been one of the rapidly growing gambling categories, owing to the convenience of usage and optimal user experience.
With the advent of technology, virtual reality, blockchain, and mobile platforms have been widely implemented in the gambling industry worldwide. Owing to this factor, the vendors are utilizing software suppliers, such as NetEntand Evolution Gaming, to integrate and develop the gaming experience of consumers.
Furthermore, various companies are concentrating on advancing innovative platforms to cater to several requirements and needs of customers to achieve a competitive edge in the market. For instance, in 2021, Entain PLC declared the launch of Gambling Responsibly America in the United States, a dedicated gaming app.
This app has a tool to assist and support consumers. It also has educational resources to help consumers if they face any gambling issues. The above-mentioned factors are expected to benefit the market positively.
Online Gambling Market Trends
Various Sponsorships and Convenient Payment Options Driving the Market
The rising adoption of mobile and online payment gateways made payment options convenient for consumers and online players. Online payment provides a safe and secure mode of transaction, which is accepted by the online gaming industry. This factor is boosting the growth of the online gambling market.
The online betting segment is predominantly rising with the online sports category, especially in football events, such as the FIFA World Cup and the European championships. Many online sports betting companies are sponsoring different teams as a part of their marketing initiatives by acquiring or merging with several companies for strategic expansions.
North America Remains the Fastest-growing Region
The current legislative framework for online betting in the United States allows only bookmakers licensed in Nevada, Pennsylvania, and New Jersey to operate legally, as these are the three states where online betting is regulated.
Pennsylvania is the fourth and biggest state to legalize and regulate online gambling. There are various types of online casinos, sportsbooks, and online sports betting apps live in New Jersey. New Jersey’s Division of Gaming Enforcement oversees and regulates New Jersey’s online gaming sites. It handles site licensing, tax revenue collection, and game testing and approval.
New Jersey is currently the largest market for regulated online gambling in the United States. Canada is largely an unregulated country in terms of online gaming. At the same time, Mexico is reviewing its gambling laws intending to regulate the online gambling sector to align with the rest of the nation’s gambling industry.
Therefore, the increasing regularization of online gambling in the North American countries and their respective states is expected to drive the market further.
Online Gambling Market Competitor Analysis
The casino gambling market is highly fragmented and comprises regional and global players. Key players like Bet365, Entain PLC, Flutter Entertainment PLC, and Kindred Group PLC dominate the market.
Major players are focusing on mergers and acquisitions, partnerships, and product innovations to expand their presence in the market and enhance their brand portfolio to cater to consumer preferences. Merger and acquisition is the most preferred strategy in the online gambling market, followed by expansion.
Key players compete on various factors, including offerings, quality of gambling content, user experience, brand equity, personalized payoffs, and access to various platforms. Advanced distribution networks and manufacturing expertise give an upper edge to the manufacturers to expand their range of products worldwide.
Key Topics Covered:
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 Game Type
5.1.1 Sports Betting
5.1.1.1 Football
5.1.1.2 Horse Racing
5.1.1.3 E-sports
5.1.1.4 Other Sports
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Baccarat
5.1.2.3 Blackjack
5.1.2.4 Poker
5.1.2.5 Slots
5.1.2.6 Others Casino Games
5.1.3 Lottery
5.1.4 Bingo
5.2 End User
5.2.1 Desktop
5.2.2 Mobile
5.3 Geography
6 COMPETITIVE LANDSCAPE
6.1 Strategies Adopted by Players
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Betsson AB
6.3.2 888 Holdings PLC
6.3.3 Sport Pesa
6.3.4 Kindred Group PLC
6.3.5 Entain PLC
6.3.6 William Hill PLC
6.3.7 Bet365
6.3.8 LeoVegas AB
6.3.9 Flutter Entertainment PLC
6.3.10 1X Corp. NV
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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