News
Online Gambling Market is Rising Due to the Fast Internet Connectivity and Usage of Real Money
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According to Market Research Future, the global online gambling market has been segmented based on game type, device type, end-user, and region/country.
Rapid technological advancements and an increase in the number of gambling users across the globe are some of the factors that are influencing the growth of the online gambling market.
The growth in the adoption of smartphones is transforming the online gambling market as most of the betting and casino consumers are using smartphones to play the games and earn real money. In recent years, online gambling service providers have also incorporated social media platforms, such as YouTube, Facebook, and Instagram to attract new customers.
The adoption of virtual currency such as cryptocurrency in the gambling market by gambling vendors is a major trend in the global mobile gambling market. For instance, the mobile gambling market in Nevada accepts cryptocurrency or virtual money from the players. The integration of virtual money in the gambling market has reduced the risk of security concerns related to cash transactions. The online cash transactions help gambling vendors to distribute the prize money in the form of redeemable coupons, which can be used to play other games as well. It also provides customer spending history to gambling providers who help them to customize their marketing strategy.
The increasing interest of mobile gambling among youngsters, development of infrastructure, increasing foreign investments, legalization of mobile gambling in various countries across the world, and relaxation of government regulations and policies are some of the drivers of the growth of the mobile gambling market.
However, security issues related to online payments in mobile gambling and rising addictive behavior which may affect the low-income population as they may not be able to afford losses, are some of the factors which may hinder the growth of the mobile gambling market. The global online gambling market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Segmentation:
By game type, the global gambling market has been segmented into betting, casino, poker, lottery, online bingo, and others. The casino segment accounted for the largest market share in 2018, whereas the poker segment is expected to register the highest CAGR during the forecast period. This is because online poker is preferred by many players as it offers a variety of games for selection, which is not the case in poker rooms. Also, mobile poker is simple and convenient to use as the player can join the game remotely without being physically present in the poker room.
By device type, the global gambling market has been segmented into mobile and desktop. The mobile segment has the highest market share, and it is expected to register the highest CAGR during the forecast period. This is due to the increasing adoption of smartphones.
By end-users, the global gambling market has been segmented into gambling enthusiasts, social exuberant, and dabblers. The gambling enthusiasts segment accounted for the largest market share, whereas the social exuberant segment is projected to register the highest CAGR during the forecast period. The social exuberant segment includes social media influencers and promoters. These players are highly visible on online gambling platforms, exploring new games online and might be a part of paid promotions by online gambling operators. These players often upload pictures or posts regarding mobile or online gambling on social media.
Regional Analysis:
The Global Online Gambling Market is estimated to register a CAGR of 13.2% over the forecast period. The geographic analysis of the global online gambling market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
Europe holds the largest market share as the companies in this region are leading in terms of advanced technologies; furthermore, the region also has favorable government rules and regulations across various countries. Europe has been segmented into the UK, Germany, France, and the rest of Europe. Some of the largest global online gambling companies operating in the market, such as Kindred Group PLC, Bet365, and 888 Holdings have originated in Europe.
The market in Asia-Pacific is expected to register the highest CAGR during the forecasted period (2019–2025) due to the increase in foreign investments and the rising popularity of mobile gambling across this region.
Competitive Dashboard:
The Global Online Gambling Market is witnessing high growth due to the rise in demand from various end-users such as gambling enthusiasts, social exuberant, and dabblers. Major players have opted for partnerships and new product development as their key organic growth strategies and also opted inorganic growth strategies to enhance their positions in the market and cater to the demands of the end-users. In Nov 2017, Stride Gaming PLC, a company based in the UK, acquired an India-based rummy game platform provider, Passion Gaming Private Limited. Stride Gaming, with the advantage of its proprietary technology combined with Passion Gaming, is focusing on creating a highly attractive proposition in the Indian online gambling market. Similarly, in Sep 2018, The Stars Group launched its BetStars online sports betting brand in New Jersey in partnership with resorts, casinos, and hotels. The BetStars platform allows online depositing and withdrawal options, in-game betting, early cash out options, and various bonuses to its users.
Key Players
The Key Players in the Global Online Gambling Market are identified based on their country of origin, presence across different regions, recent developments, product diversification, and industry expertise. These include International Game Technology PLC (US), The Stars Group (Canada), Betsson AB (Sweden), Kindred Group Plc (Malta), Net Entertainment (Sweden), Paddy Power Betfair PLC (Ireland), 888 Holdings PLC (UK), Ladbrokes Betting & Gaming Ltd.(UK), Bet-at-home.com (UK), Bwin. Party Digital Entertainment (Austria), Betfair Group plc. (UK), William Hill Plc (UK), Scientific Games (US), bet365 (UK), VGC Holdings PLC (Isle of Man), Spin Inc. (US), Betway (Europe), and Royal Panda (Europe). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
Source: European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Online Gambling Market is Rising Due to the Fast Internet Connectivity and Usage of Real Money
Latest News
What makes Turbo Games’ provably fair games so special?
A partnership between game developer Turbo Games and iGaming solution provider and aggregator Slotegrator began in November 2022 via the APIgrator game integration solution. Since then, the collaboration has been developing successfully — and now it’s time to analyze what made it successful.
Turbo Games has noticed how the new technologies spreading throughout the industry can work for the good of brand transparency and player loyalty: “We can already see how blockchain technology has made it possible to make betting checks more accessible to players. All you need is a blockchain-hash and a decoder service. We think we will continue to move in this direction. Many traditional online casinos do not offer the possibility to check the bet. Sooner or later we all have to come to this. Perhaps the development of artificial intelligence will help here, because we are already seeing its involvement in all spheres of human life.”
Turbo Games specializes in provably fair games. Provable fairness is a concept where players can verify their wins or losses using blockchain technology — the outcome of the game is dictated by a smart contract and is absolutely random, barring the possibility of any human involvement. Using cryptographic hashing algorithms, the gambling site and the player’s device both generate seeds (random strings of numbers). Players receive a key that allows them to check the results; if the results are the same as the game round they witnessed, it proves that there was no foul play.
According to statistics from Turbo Games, the audience for provably fair games is mostly between 18 and 25 years old. However, there are also players aged 35-40 who prefer traditional games but would like to try something new, and have turned their attention to provably fair games.
There are good odds that the technology of provably fair games will become more popular, if not even commonplace, because it gives players a feeling of transparency and proves that the business is trustworthy without the need to search through dozens of reviews. Whereas many innovations in iGaming simply add entertainment, provable fairness addresses security concerns and reassures players that they’re not being exploited, which is invaluable.
Provably fair games are beneficial for both players and online casinos. Vadim Potapenko, Head of Sales at Turbo Games, comments: “It often happens that the users are not satisfied with the result, because gambling is not only about big wins, but also possible losses. By allowing them to check the fairness of a bet, we make life easier for platforms and players. Of course, this allows us to communicate with partners and users that we work honestly and that’s why they should trust our games.”
Ayvar Gabidullin, Business Development Manager at Slotegrator, adds that “this type of game is now becoming more and more popular and has great potential for both players and game providers in the future. On the part of the player, the advantage is that the player can always be sure that his game is fair and he can independently check any of his bets. And for the game provider, this also simplifies the process of implementing casino games, since now it will not be necessary to obtain the appropriate certificates from independent laboratories before launching new games, they can immediately enter the market with these games and where anyone can check the result and make sure that that there is no cheating with players. Many game providers are starting to look towards this type of game. And as far as I see, many operators are starting to think about adding these games.”
What do players in 2023 need? The iGaming industry is all about reputation and trust. Players have a huge number of platforms to choose from, making them pickier and pickier. There’s an abundance of forums where players leave reviews, so if players view a brand as untrustworthy, there are plenty of places they can share their opinion. Provable fairness not only stops that from happening, it provides evidence to the contrary, giving players something else to talk about.
Slotegrator also recommends investing time and effort into localization and creating an effective and detailed marketing strategy — before trying provably fair technology players need to get to the platform, and there is no acquisition without marketing.
ABOUT SLOTEGRATOR
Since 2012, Slotegrator has been one of the iGaming industry’s leading software and business solution providers for online casino and sportsbook operators.
The company’s main focus is software development and support for online casino platforms, as well as the integration of game content and payment systems.
The company works with licensed game developers and offers a vast portfolio of casino content: slots, live casino games, poker, virtual sports, table games, lotteries, casual games, and data feeds for betting.
Slotegrator also provides consulting services in gambling license acquisition and business incorporation.
More information: https://slotegrator.pro/
ABOUT TURBO GAMES
Turbo Games — a provably fair games provider that belongs to Turbo Stars company — has an ambitious goal to establish widespread recognition throughout the iGaming world. Even though it is young, the company consists of professionals who have been working on the brand for over five years and are even planning to introduce a new brand for a wider audience soon.
Turbo Games also works in Europe, India, and South Africa, where the company sees the most potential and expects the same “hype” as in Brazil.
The portfolio of Turbo Games consists of 21 titles, including well-known games like Mines, Crash X, DoubleRoll, Hi-Lo, and Plinko. The studio releases a game every month. However, not all games are developed from scratch. Wicket Blast and Spin Strike, the last two releases, are based on cricket and the Indian Premier League. Crash X remains the most popular fast game in the Turbo Games portfolio, and the studio reports that crash games enjoy stable levels of popularity. Overall, the main focus of the brand is provably fair games.
More information: https://turbogames.io/
Baltics
Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.
Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.
From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.
Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.
Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.
Participating in the event
As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.
To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair
About Games Factory Talents
A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.
To learn more about Games Factory Talents visit – Games Factory Talents
810 THE SPREAD
Cumulus Media Launches 810 THE SPREAD, the Bay Area’s First Sports Station Focused on Sports Betting
Cumulus Media (NASDAQ: CMLS) announces that it has launched the Bay Area’s first Sports radio station focused on sports betting, 810 THE SPREAD. The new station brings sports and sports betting news, information, and insights to the burgeoning and underserved sports betting audience in San Francisco. 810 THE SPREAD will deliver behind-the-book perspectives from experts in a highly entertaining and engaging format. 810 THE SPREAD goes live today on the legendary 810am frequency that has been the 80-year home of historic Talk Radio KGO-AM. Cumulus San Francisco also launched the station’s new website at www.810thespread.com. Kevin Graham, Program Director of Cumulus’ sister sports stations KNBR 680AM/104.5FM and 1050 KTCT, adds Program Director duties for 810 THE SPREAD.
Larry Blumhagen, Vice President/Market Manager, Cumulus San Francisco, said: “810 THE SPREAD joins our sports brands KNBR 680AM/104.5FM and 1050 KTCT for a trifecta of dynamic sports content across four signals and streaming everywhere. We are excited about this new chapter and look forward to serving the Bay Area’s passionate sports fans in an incomparable way.”
Blumhagen added: “This is a bittersweet day for us, as it’s hard to say goodbye to the legendary KGO, which has been a part of listeners’ lives for so many years. We want to thank all the people who have been a part of KGO’s historic run these many years – and the listeners who loyally tuned in to the station. Times change, and we must change with them.”
Kevin Graham, Program Director, 810 THE SPREAD, said: “810 THE SPREAD will be the Bay Area’s best bet for sports fans and sports betting enthusiasts, and we are pleased to introduce sports-betting radio to our community. The station will feature a lineup of expert personalities that deliver unique sports talk and sports betting insights that entertain, inform, and engage, along with Cal Football and Basketball as well as select professional and college sports play-by-play events. While 810 THE SPREAD will feature specific gambling information, we believe our entertaining presentation will make it a favorite for all Bay area sports fans and a perfect complement to the legendary KNBR and KTCT. With its addition, it truly shows Cumulus’ commitment to the Bay area as ‘The Sports Leader’!”
The weekday programming lineup for 810 THE SPREAD includes:
6am-9am – Bet QL Daily – The must-consume show for sports fans and betting fans alike. Hosted by Joe Ostrowski, Joe Giglio, and Erin Hawksworth.
9am-12pm – Jim Rome - Aggressive, informed sports opinions, rapid-fire dialogue, and plenty of sports smack. As one of the most prolific sports talk hosts in America, Rome draws massive tune-in with legions of fans known as clones, who live for Rome’s take on the day’s largest issues in sports.
12pm-4pm – You Better You Bet – Nick Kostos and Ken Barkley have you covered for the best bets on the biggest matchups, the latest line movement and updates in the futures market. We’ll have up-to-the-minute coverage of backdoor covers and bad beats, and the cheers and tears that come with them. It’s sports betting conversation like you’ve never heard before.
4pm-8pm – Bet MGM Tonight – Live sports betting updates for all the night’s games as they happen – plus live “look-ins” for Major League Baseball games in progress. Get the latest scores, sides, totals, props, parlays, futures, and much more with hosts Quinton Mayo, Trysta Krick, and Ryan Horvat.
8pm-12 Midnight – CBS Sports Radio
BetQL Network programming is provided by Cumulus Media’s Westwood One through a partnership with Audacy.
For more information or to stream 810 THE SPREAD, visit: http://www.810thespread.com.
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