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Here’s a Look at the Top Trends Shaping the Online Gambling Market
The global online gambling market size is projected to reach USD 158.20 billion by 2028, exhibiting a CAGR of 11.4% during the forecast period. This information is given by Fortune Business Insights List of Key Players Covered in this Market Report:
REPORT SCOPE & SEGMENTATION:
Quick Adoption of Online Gambling amid COVID-19 to Boost the Market The global health and economic crisis triggered by the COVID-19 pandemic forced governments in several countries to impose strict lockdowns and social distancing measures. Companies rapidly adopted remote working models, leading to huge portions of working populations working from home. With most non-essential services and places, including casinos, being closed down, gamers and gamblers have swiftly shifted to virtual platforms, boosting the online gambling market growth in the process. For example, an article published by New York University revealed that digital gambling platforms have gained speedy momentum in Canada after the coronavirus broke out. In Australia, according to a report by Concordia University, Canada, spending on online casinos rose sharply by 67% in April 2020. The coronavirus pandemic has, thus, proved favorable for this market, enabling it to register a healthy CAGR of 11.2% and reach a value of USD 74.17 billion in 2021.
Market Segments
Based on type, the market has been classified into sports betting, casinos, poker, lottery, bingo, and others, with the lottery segment holding a share of 15.1% in the global market and a share of 15.4% in the UK market in 2020.
On the basis of devices, the market segments include desktop, mobile, and others. By region, the market has been divided into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Highlights of the Report The report offers a granular examination of the various factors shaping the growth trajectory of the market, as well as a holistic analysis of the hindrances obstructing the market. Furthermore, a microscopic study of the regional and competitive dynamics influencing the market has also been provided in the report, along with an in-depth assessment of the individual market segments. The insights contained in the report are based on industry-leading research conducted through primary, secondary, and tertiary sources.
Driving Factor
Introduction of Sophisticated Technologies in Virtual Gambling to Fuel the Market
Advanced, intelligent technologies, such as artificial intelligence (AI) and blockchain, are being increasingly employed by online gambling platforms to ensure a secure and safe space for enthusiasts. Heralding this trend are startups that are developing and offering novel gambling platforms powered by smart technologies. For example, Edgeless, which was started in 2018, became the first Ethereum-based virtual casino that uses distributed ledger technology to ensure payouts. Similarly, Tombola is a popular lottery and gambling platform driven by cryptocurrency and other blockchain-enabled tools. Another example is the Canada-based startup, Quarter4, which leverages AI to offer simulations, content, and predictions for sports bettors. The incorporation of new-age solutions in digital gambling is, thus, opening new pathways of development for this market.
Regional Insights Europe to Headline the Global Market, Forecasts Fortune Business Insights Europe is expected to dictate the online gambling market share during the forecast period on account of the heavy investments being made by sports enthusiasts across the continent in online sports betting. Moreover, a healthy betting culture in Europe will further bolster the prospects of the market in the region. In 2020, the Europe market size stood at USD 30.92 billion.
The presence of secure connectivity infrastructure and strong gambling regulations will propel North America in the second-leading position in the market in terms of revenue generation. On the other hand, growing investments in online gambling in South America, driven by regulations in Colombia and Argentina, are anticipated to speed up the expansion of the market in this region.
Competitive Landscape
Key Players to Strengthen Businesses through Innovative Collaborations With online gaming picking up pace amid the COVID-19 pandemic, key players in this market are entering into strategic collaborations with gambling industry giants to deepen their market footprint. These companies are engaging in developing innovative online gambling platforms to attract gamblers and gain momentum in this rapidly evolving market space.
Industry Developments:
Report Coverage
Details
Forecast Period
2021 to 2028
Forecast Period 2021 to 2028 CAGR
11.4%
2028 Value Projection
USD 158.20 Billion
Base Year
2020
Market Size in 2020
USD 66.72 Billion
Historical Data for
2017 to 2019
No. of Pages
130
Tables, Charts & Figures
92
Segments covered
Type; Devices; and Region
Growth Drivers
Ease of Online Payment to Drive Online Gambling Market Growth
Restrictions of COVID-19 on Land-based Casinos to Boost Demand for Online Gambling
Rapid Adoption of Smartphones to Fuel Demand for Mobile Gambling
Pitfalls & Challenges
Rising Adverse Impacts on Mental Health and Bans on Online Gambling May Impede Market Growth
Find out more about the career vacancies in the international iGaming holding PIN-UP Global during the ICE conference, which will be held from January 20 to 22 in Barcelona, where everyone will be able to talk to the recruitment team, and even have an interview right at the PIN-UP stand.
A separate HirePoint by PIN-UP will be set up at stand 5G31, where the holding company’s recruiters will conduct quick interviews and collect references. It will be possible to make an appointment in a few seconds using a special interactive screen, and there will be nice incentive gifts for participation.
“In just a few minutes it will be possible to book your appointment by completing an application form, present your skills, discuss opportunities and take the first step towards a career at PIN-UP Global. The interactive screen will showcase current vacancies with a quick response option. This is a unique opportunity to learn about career prospects in an international holding company with a strong value system”, says Oksana Izmailova, Chief Human Resources Officer at PIN-UP Global.
PIN-UP Global continues to scale rapidly: in 2024 alone, the holding company’s team has grown by more than 1,400 people to almost 4,000. Such rapid business development every day opens up new opportunities and prospects for both existing team members and those wishing to become part of it. PIN-UP Global regularly conducts employee satisfaction surveys and pays special attention to the development of all team members.
PIN-UP Global is an international iGaming holding company specializing in the development and implementation of advanced technologies, B2B solutions and innovative products for the iGaming industry. PIN-UP Global has offices in Cyprus, Ukraine, Poland, Kazakhstan and Armenia and a team of over 20 nationalities. In 2024, PIN-UP Global received the prestigious “Best Workplace” award from SIGMA, confirming its status as the best employer in the iGaming industry for the second consecutive year.
The post PIN-UP Global invites to join the team of professionals at ICE appeared first on European Gaming Industry News.
FBC Melgar has proudly confirmed Stake as its new Official Sponsor for the 2025 season. This strategic alliance strengthens the club’s commitment to growth and success, marking a significant milestone in the history of “El Dominó.”
Stake, recognised as one of the world’s leading online betting platforms, will feature its logo exclusively on the chest of the men’s first team jerseys.
Additionally, Stake will also appear on the chest of the women’s team and Liga 3 jerseys, marking a historic milestone for the club as it is the first time FBC Melgar’s Official Sponsor has supported all these categories comprehensively.
This agreement highlights Stake’s commitment to FBC Melgar and its support for the club’s growth across all its categories.
Ricardo Bettocchi, Administrator of FBC Melgar said: “This alliance with Stake reinforces our commitment to keep FBC Melgar as a reference in Peruvian and South American football. Having the support of an international brand that trusts our project is a great step to continue strengthening all our categories. We are excited about the benefits that this collaboration will bring to our institution and to the entire ‘rojinegra’ family.”
The partnership includes various initiatives aimed at enriching the fan experience, both at the stadium and through special activations and exclusive benefits. With this sponsorship, Stake and FBC Melgar strengthen a bond that promises great achievements both on and off the field.
Stake expanded its regulated market footprint by securing casino and sportsbook licences to launch in Peru’s online gaming market last year. The operator also has a strong regulated presence in Latam through Stake Colombia, and Stake Brazil.
Diana Otálora, Latam Manager at Stake, stated: “At Stake, we are proud to partner with FBC Melgar, a historic club that represents passion and excellence, reinforcing our vision of connecting with sports communities in Latin America and actively contributing to their success. This agreement, in the context of the growing regulated market in Peru, reflects our intention to contribute to the development of football at all levels and our presence in the region.”
As part of this collaboration, Stake Peru is launching unique promotions for “rojinegros” fans. Users can register at stake.pe using the affiliate code DOMINO to receive a free bet of S/20 to enjoy a complimentary wager and experience the excitement of football with even more passion.
The post Stake Peru secures official sponsorship of FBC Melgar appeared first on Gaming and Gambling Industry in the Americas.
Million Games is excited to present its first-ever RNG table games: Million Baccarat and Million Blackjack. These timeless casino staples, enjoyed in both brick-and-mortar and online casinos around the world, offering players a thrilling and authentic experience right at their fingertips. With a focus on delivering fun and exciting entertainment, these classic games give players the opportunity to enjoy the excitement and suspense of table games!
Million Baccarat brings the excitement of this global favourite straight to your screen. Players are invited to place their bets as they predict whether the banker or the player will win, or if it’ll end in a tie. With its elegant design and smooth gameplay, Million Baccarat offers an immersive experience that replicates the refined thrill of the casino floor.
For those who love the suspense of Blackjack, Million Blackjack lets players experience the high-stakes game in a RNG format. Fans of the game will enjoy its classic rules – get as close to 21 as possible without going bust, and outsmart the dealer to claim the prize. This version perfectly captures the thrill, where every hand keeps you on the edge of your seat.
With these two releases, Million Games introduces its first RNG table games, bringing a taste of real casino action into the online gaming world. Whether you’re a seasoned player or a newcomer, Million Baccarat and Million Blackjack offer an authentic, thrilling experience where the cards are always in your hands.
Million Games CEO, Thomas Nimstad, commented: “We’ve always aimed to bring innovation and creativity to our games, but with Million Baccarat and Million Blackjack, we wanted to stick to the classics. These games have stood the test of time, and now, we’re excited to bring them to the Million Games audience in an engaging and exiting way. We believe that players will enjoy these experiences in a Million ways!”
Both games will be launched later on in January. Looking ahead, Million Games has an exciting lineup of launches scheduled in the coming 6 months. Alongside their own game releases, they will also introduce fresh content from partner studios under the Million Stars program. With more online slots, table games, and innovative gaming experiences on the horizon, Million Games is eager to expand its portfolio and bring even more entertainment to players worldwide.
The post Million Games Launches First RNG Table Games: Million Baccarat and Million Blackjack appeared first on European Gaming Industry News.
PIN-UP Global invites to join the team of professionals at ICE
Stake Peru secures official sponsorship of FBC Melgar
Million Games Launches First RNG Table Games: Million Baccarat and Million Blackjack
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