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Online Gambling Market Size to Achieve USD 172 Billion by 2030 growing at 11.6% CAGR due to the Increasing Penetration of Mobile Phones Globally – Exclusive Report by Acumen Research and Consulting

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The Global Online Gambling Market Size is expected to reach a market value of around USD 172 billion by 2030 growing with a CAGR of 11.6% over the forecast timeframe, as reported by Acumen Research & Consulting

Online gambling has become one of the world’s fastest-growing sectors in the past 20 years. Every day, millions of people gamble on various platforms. As a result, the revenue generated by these websites is massive, increasing the global online gambling market value. Online gambling which is also known as internet gambling or e-gambling is witnessing a massive demand on account of the growing mobile gambling applications.

Online gambling has changed the industry landscape owing to the rising number of existing as well as new gamblers shifting towards online platforms. The ease of access, convenience, and corporate sponsorship are just a few of the factors that have shifted the focus of gamblers from offline gambling to online gambling. This factor is also expected to boost the worldwide online gambling market growth.

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Report Coverage:

Market Online Gambling Market
Market Size 2021 USD 65 Billion
Market Forecast 2030 USD 172 Billion
CAGR During 2022 – 2030 11.6%
Analysis Period 2018 – 2030
Base Year 2021
Forecast Data 2022 – 2030
Segments Covered By Type, By Device, And By Geography
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Key Companies Profiled 888 Holdings PLC, Bet365, Betsson AB, GVC Holdings PLC, Kindred Group PLC, Ladbrokes Coral Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming, The Stars Group Inc., and William Hill.
Report Coverage Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Customization Scope 10 hrs of free customization and expert consultation

COVID-19 Impact on the Global Online Gambling Market Value

The COVID-19 pandemic had a positive impact on the market, as consumers turned more to the online platform during lockdowns to overcome their financial, psychological, and social crises. Because of the lockdown measures and work-from-home culture, it was one of the industries that thrived during the COVID-19 pandemic. In addition to that, the various countries’ and governments’ lockdown and social distancing regulations have had an impact on land-based casino operations. As a result, regular traditional gamblers shifted their focus towards online gambling, which again fueled the market demand during the COVID-19 period.

Global Online Gambling Market Growth Aspects

Increasing penetration of Smartphone’s will fuel the global online gambling market share

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Mobile gambling is becoming increasingly popular around the world. Although it is constrained alongside online gambling in some states, the mobile gambling market is expected to grow significantly in the coming years. According to gambling regulators, mobile gambling is frequently conducted by younger individuals, who are more susceptible to addiction. Sports betting is the most common form of mobile gambling; despite its association with gambling-related harm, live-action betting is aggressively marketed on mobile gambling applications in areas where betting regulation is more permissive. The introduction of payment options such as Apple Pay, Pay by Phone, and others have made a significant difference. Their withdrawal and deposit times are much shorter. Furthermore, various statistics show that mobile casinos grew in popularity during the lockdown. In some countries, the increase was nearly 100%.

Sports betting will generate the biggest online gambling market revenue in the coming years

According to our sports betting industry analysis, the market is expected to reach around USD 139 billion by 2028, growing at a CAGR of more than 10% between 2021 and 2028. Some of the online gambling market trends include increased connected device penetration and varying regulatory scenarios for the overall gambling industry. Additionally, the introduction of 5G networks, as well as the growing application of artificial intelligence and block chain technologies in the sports betting industry, is expected to generate a variety of growth opportunities over the forecast years. Furthermore, the rising popularity of sports betting gambling on games such as football, cricket, and easy understanding of these gambling among millennials are some of the leading aspects driving the market growth.

Online Gambling Market Segmentation

The global market has been divided into three sections: type, device, and region. The market is divided into five types: casinos, bingo, poker, sports betting, and others. Based on our analysis, the sports betting segment is anticipated to lead the market during the forecasted timeframe from 2022 to 2030. On the other hand, the online casino segment will achieve a substantial share in the coming years.

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Furthermore, the device segment is split into desktop, mobile, and others. The desktop segment generated a significant online gambling market share in 2021, owing to the larger screens and easy visibility to enjoy their betting events. However, mobile gambling will grow at the fastest rate due to the increasing global penetration of Smartphone’s and their ease of access to online gambling apps.

Online Gambling Market Regional Outlook

North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa are the regional classification of the global online gambling market. Among all the regions, the Europe region leads the online gambling market with the majority of the share during the forecast timeframe. This could be attributed to the growing sports industry, the presence of leading players, and the ease of regulations.

On the other hand, the Asia-Pacific region is anticipated to attain the fastest growth rate from 2022 to 2030. This is ascribed to the increasing number of Smartphone users in countries such as China and India. Additionally, rapid urbanization, increasing internet penetration, and increasing adoption of crypto currency in online gambling are some of the factors that are supporting the Asia-Pacific online gambling market.

Online Gambling Market Players

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Some key online gambling companies covered in the industry include 888 Holdings PLC, Bet365, Betsson AB, GVC Holdings PLC, Kindred Group PLC, Ladbrokes Coral Group PLC, Paddy Power Betfair PLC, Sky Betting and Gaming, The Stars Group Inc., and William Hill.

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Week 17/2024 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Belatra Games, the specialist online slots developer, is on point with its latest sharply designed game, Golden øks. This Norse-inspired adventure carries on from the popular Axe of Fortune title that hit the market at the turn of the year. Golden øks is set against a 5×3 layout and is brought to life with a powerful soundtrack to heighten the atmosphere.

Belatra grows games portfolio with Golden øks title

Endorphina, has announced the release of its brand-new title, Jolly Queen, which will join its portfolio on April 27th. Jolly Queen is a 5-reel, 5-row fruit slot with 50 fixed paylines, introducing players to the lifestyle of the nobles. On top of the aristocratic ambiance, Jolly Queen provides players with Free Games, allowing them to master the reels.

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Endorphina releases its newest title - Jolly Queen!

Evoplay has released Candy Craze, a vibrant slot stacked with features and modifiers, including the powerful Gum Drop Multiplier which boosts win potential. Set amidst the backdrop of sumptuous sweets within a cloudy landscape, the 5×5 cascading reels title gives players a sugary rush when the Gum Drop Multiplier activates, revealing a mystery value at the end of each winning spin up to x100, enhancing the chance for wins during the main game and Free Spins.

Yggdrasil, a leading iGaming publisher, has revived the gold rush in a jackpot-filled game that embodies the spirit of old west prospecting in Gold Frontier Jackpots FastPot5™. Fans of lower volatility slots with straightforward mechanics that get fortune seekers right to the heart of the action are tasked with gathering keys to enter the treasure bonus game.

Relax Gaming is offering players some opulence in its latest release Sultan Spins. This high volatility slot sees its gold-trimmed reels set against a sprawling desert metropolis. Players have the chance to rack up riches via an entertaining free spins feature and lucrative local jackpot.

Greentube has introduced its latest title in the popular Diamond Link ™ series, Diamond Link ™: Mighty Dwarves Inc. Set deep in underground mines, this adventurous 5×3 slot is packed with innovative features for ample chance to win across its 25 paylines when players spin the reels adorned with hammers, hard hats and laser symbols.

Get your eyes ready because it’s time to take a trip to the pet centre to meet the ugliest, quirkiest, wildest-looking pets you’ve ever seen in the brand new slot, Fugly Pets, from Stakelogic. Fugly Pets takes players to a banged-up old pet store to explore its collection of weird and charming, downright ugly pets. Meet a scruffy parrot, a catnip crazed kitty, and an unfortunate-looking little dog.

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Load your tackle box, bait your hook and get ready to reel in the catch of the day in Fishin’ The Biggest from Apparat Gaming, the in-demand German software provider’s latest splash hit slot that sees players trawl the sea for free spins and massively multiplied prizes. Played over five reels, three rows and ten fixed paylines, Fishin’ The Biggest is a highly-volatile title with an outdoor angling theme.

Thunderkick has announced the launch of Midas Golden Touch 2, the highly-anticipated sequel to the acclaimed 2019 original. This latest release invites players to rediscover an enchanted realm where everything King Midas touches turns to gold. The 3×5 video slot boasts 15 paylines and showcases Thunderkick’s signature high-quality design and innovative features.

Belatra Games, the specialist online slots developer, has served up another classic with its tasty Chef’s Sticky Fruits slot. This latest release from Belatra’s studio  is a vibrant and juicy addition to its renowned catalogue of slots. It’s a 5×4 slot game bursting with colour that’s heightened with an upbeat, retro soundtrack that perfectly captures the essence of fun at the heart of every play.

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Belatra serves up tasty Chef’s Sticky Fruits slot

3 Oaks Gaming has launched 3 China Pots: Hold and Win, the first time the company has integrated the popular 3 Pots mechanic within a Far East-themed title. The latest instalment from 3 Oaks to incorporate the 3 Pots functionality sees players transported to the allure of the Orient, where the Extra, Double and Multi modifiers influence the Bonus Game once activated.

3 Oaks Gaming presents a feature-rich trip to the Far East in 3 China Pots: Hold and Win

Pragmatic Play has unleashed roaming wild re-spins and random guaranteed wins in Release the Bison. Symbols of the American frontier abound in this 5×4 slot, where hitting four or more rampaging bison triggers the wild re-spin feature, during which all wilds roam the reels to boost win potential.

Blueprint Gaming’s latest slot release tasks players to look for the leprechaun’s pot of gold under the water rather than at the end of the rainbow in Plenty O’ Fish, a 6×4 hybrid of sea creatures and shimmering rewards. Players must look to unlock a tackle box of treasure with a jaunty leprechaun being the key to wins, lurking behind a dynamically coloured underwater background that changes when the bonus game is triggered.

Booming Games has launched its latest sweet sensation to its collection of engaging slot games – Fruit Heaven Hold and Win™. This is a deliciously designed 5×3 slot game with 25 paylines, which promises players an exciting experience full of fantastic fruity features and Stacked Wilds.

Wazdan is multiplying jackpots in the follow-up to its top-performing game Mighty Wild™: Panther Grand Gold Edition. Venturing to the depths of the jungle where a black panther rules the reels on a 5×3 gameboard, the new edition provides even larger win potential. With the increased value of the Cash symbols and Cash Infinity™ symbols, there is also a more lucrative Grand Jackpot of 1500x the base bet.

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The post Week 17/2024 slot games releases appeared first on European Gaming Industry News.

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BiS SiGMA Americas

GR8 Tech Brings “Best Workplace 2024” and Fresh LatAm Insights from BIS SiGMA Americas

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GR8 Tech’s participation at the recent BIS SiGMA Americas event held in São Paulo was quite successful, highlighted by winning the ‘BEST WORKPLACE 2024’ award at the SiGMA Americas Awards and holding over 150 meetings with operators and other stakeholders. These interactions have laid a solid foundation for GR8 Tech’s strategic expansion in the region and provided the team with significant insights into the evolving Latin American iGaming market.

A Closer Look at the Brazilian Market and Wider LatAm

Brazil is not synonymous with Latin America. Each country on the continent has its own unique characteristics,Evgen Belousov, GR8 Tech CEO.

The most important thing to understand in the LatAm region is that it’s very diverse. There are significant cultural and operational differences that necessitate a localized approach. For example, “Brazil’s rhythm is distinct; life starts in the afternoon, and business interactions reflect this laid-back pace. To thrive here, understanding and integrating into the local lifestyle is essential.

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Belousov further discussed the Brazilian market’s competitive nature, highlighting retention strategies’ crucial role. “The churn rate is high as players frequently shift between operators lured by aggressive marketing. Hence, having robust retention mechanisms, such as real-time tools and enticing bonus mechanics, is crucial to maintaining a loyal customer base,” he added.

Yevhen Krazhan, CBDO, addressed trending compliance and market preferences. “Regulation is a hot topic, with a keen focus on product compliance. Moreover, while classic sportsbooks saturate the market, emerging interests lie in areas like fantasy sports and social gaming, which present new opportunities for differentiation and growth.”

Thomas Carvalhaes, Senior Business Development Manager for the Latin America region, provided his expertise during the panel discussion “Understanding the demands and evolution of the B2B market”, highlighting the demand for localization and intuitive technology. “In Latin America, where many markets are still learning the ropes of iGaming, the simplicity of the technology is key. Products need to be user-friendly to ensure they meet the expectations of a clientele that values straightforward and engaging gaming experiences,” Carvalhaes explained.

Future Directions and Engagements

Building on the insights and achievements from BIS SiGMA Americas, GR8 Tech is actively expanding its presence in Brazil and LatAm, establishing its reputation as a key player in the region. The company is also exploring opportunities in other global markets, with Asia as the next target at SiGMA Asia, scheduled for June 3-6 in Manila, Philippines. This upcoming event presents another fantastic opportunity for GR8 Tech to demonstrate the capabilities of its flagship GR8 Sportsbook platform and forge new partnerships in another exciting and diverse region. We invite all our partners and clients to stay tuned, following our updates at https://gr8.tech/.

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EL Executive Committee Names Mr Ionut-Valeriu Andrei as New Member

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The EL Executive Committee has named Mr. Ionut-Valeriu Andrei as its newest member during its meeting on April 5. Mr. Andrei is the General Manager of Loteria Română since 2022, and succeeds Mr. Olgierd Cieslik, whose term as CEO of Totalisator Sportowy (Poland) has concluded.

”It is with great pleasure to welcome Mr Ionut-Valeriu Andrei as a new Executive Committee member. As an experienced executive, Mr Andrei has already contributed in various ways to our Association and the EL Executive Committee members trust he will continue to do so in the future,” Arjan van ‘t Veer, Secretary General of EL, said.

Mr Andrei will oversee the learning and development activities of EL. His appointment underscores the further commitment of the European Lotteries to inclusivity and collaboration among its members.

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”I am honoured to join the EL Executive Committee and look forward to working closely with my colleagues to advance the mission and values of the Association,” Ionut-Valeriu Andrei said.

Mr Andrei’s co-optation will be formalised during the upcoming EL General Assembly in Salzburg (Austria) on 17 June 2024.

The post EL Executive Committee Names Mr Ionut-Valeriu Andrei as New Member appeared first on European Gaming Industry News.

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