Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Canada

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

Published

on

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

BetConstruct

BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity

Published

on

betconstruct-becomes-the-first-igaming-company-to-offer-both-b2b-and-b2c-licenses-in-canada-through-affiliate-entity

 

BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

The post BetConstruct Becomes the First iGaming Company to Offer Both B2B and B2C Licenses in Canada through Affiliate Entity appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Canada

Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria

Published

on

great-canadian-entertainment-and-petroglyph-development-group-announce-closing-of-the-acquisition-of-casino-nanaimo-and-elements-casino-victoria

 

Great Canadian Entertainment and Petroglyph Development Group Ltd. announced that PDG has closed the previously announced acquisitions of Casino Nanaimo and Elements Casino Victoria from Great Canadian, in historic transactions for both parties. PDG is a wholly owned corporation of Snuneymuxw First Nation (the “Nation”) and is dedicated to realizing the economic potential of the Nation.

The transactions, originally announced on June 24, 2024, for Casino Nanaimo and September 10, 2024, for Elements Casino Victoria, have received all required approvals from the regulatory authorities.

“We are thrilled to have completed these transactions. An incredible amount of work has been undertaken by our corporate team, our on-site teams at both properties, and PDG to achieve this successful closing. I am grateful for their efforts, as well as everyone at the B.C. Lottery Corporation and the Gaming Policy Enforcement Branch, who were thoughtful, diligent, and thorough in facilitating these closings,” said Matt Anfinson, Chief Executive Officer of Great Canadian.

“We look forward to working closely with PDG during the transition period to support the continued successful operation of Casino Nanaimo and Elements Casino Victoria,” Anfinson added.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“We celebrate the closing of our two casino acquisitions and our continued progress toward building a strong Snuneymuxw economy. For decades, Snuneymuxw leadership has worked tirelessly toward this moment, recognizing the connection between a strong economy, self-determination, and the foundation of nationhood. Today, we honour the achievements of those who came before us by securing businesses that will strengthen our Nation for generations to come. Thank you to the PDG and Great Canadian teams for your exceptional work. We look forward to a rewarding partnership with the B.C. Lottery Corporation, driving economic growth for the Nation and Province,” said Chief Mike Wyse.

Erralyn Joseph, President of PDG, said: “This measured acquisition marks an important milestone for PDG as we continue growing a corporate enterprise that reinvests directly into the prosperity of our Nation. With a strong operating plan focused on risk mitigation and yielding sizable returns, PDG continues to generate sustainable wealth for Snuneymuxw. With every step we are realizing our socio-economic potential and influence at a local, national, and global level. On behalf of the Board of Directors, we are pleased to share this news and remain committed to advancing economic growth in support of all residents connected to Snuneymuxw territory.”

“Acquiring these assets marks a pivotal shift for Snuneymuxw and Vancouver Island. This transition will fuel the Island’s economy, strengthening the Snuneymuxw Nation and ensuring the benefits stay local,” said Ian Simpson, Chief Executive Officer of PDG.

The post Great Canadian Entertainment and Petroglyph Development Group Announce Closing of the Acquisition of Casino Nanaimo and Elements Casino Victoria appeared first on Gaming and Gambling Industry in the Americas.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Canada

Ottawa Black Bears Announce Partnership Deal with PowerPlay

Published

on

ottawa-black-bears-announce-partnership-deal-with-powerplay

 

The Ottawa Black Bears announced an extensive partnership agreement with PowerPlay Online Sportsbook and Casino that will see the company’s logo featured on the club’s home and away jerseys.

In addition to the jersey partnership, PowerPlay will also have branding elements inside the goal crease, behind the bench, on the LED display ring, and along the rinkboards for Black Bears home games at Canadian Tire Centre. As part of the deal, PowerPlay also becomes the exclusive sportsbook and online casino partner for the Ottawa Black Bears.

“We are thrilled to have PowerPlay on board for our inaugural season with such a comprehensive partnership agreement. Their investment with the Black Bears represents a foundational agreement for our lacrosse club. And we’re proud to wear their logo alongside ours as we launch our franchise,” said Chelsea McDermott, Vice President of Business Operations for the Ottawa Black Bears.

“We are excited to bring PowerPlay’s bold, community-driven spirit to Ottawa-Gatineau, partnering with the Black Bears as they establish themselves as a force in lacrosse. This partnership celebrates a sport deeply tied to Canada’s heritage and competitive energy. Together, we’ll ignite passion, energize fans, and deliver excitement all season long,” said Thomas Vermeulen, Marketing Director for PowerPlay.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Ottawa Black Bears Announce Partnership Deal with PowerPlay appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending