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TBRC Report Insights: Free Time due to Coronavirus Lockdown is Increasing the Demand for Online Gambling

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The global online gambling market is expected to grow from $58.9 billion in 2019 to $66.7 billion in 2020 at a compound annual growth rate (CAGR) of 13.2%. The growth is mainly attributed to COVID-19 due to which large population is confined to their homes during the lockdown and have free time to participate in several free and paid leisure activities, including online gambling. The market is then expected to reach $92.9 billion in 2023 at CAGR of 11.64%.

The online gambling market comprises of revenue generated by remote gaming activities by means of the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casino, bingo, lotteries, and poker games, among others.

Mobile Users Account For About 80% Of All Users In The Online Gambling Industry

Increasing adoption of smartphones with improved internet accessibility is also driving the online gambling market. Globally, the average use of mobile devices compared to desktop computers or laptops is significantly greater. In most countries, mobile users account for about 80% of all users in the online gambling industry. According to a study published on the Rub90 portal, the share of gamblers preferring smartphones to participate in gambling grew by 117% between 2012 and 2018. The significant growth can be attributed to the availability of smartphones with online gambling apps, coupled with high-speed mobile Internet coverage. The users need not attend computer clubs to play video slots or bet on sports events, but can obtain access to a gambling platform at any convenient place. According to Cisco’s company annual report, globally, the total number of Internet users is projected to grow from 3.9 billion in 2018 to 5.3 billion by 2023 at a CAGR of 6%, and Smartphones will grow at a 7% CAGR. This in turn is expected to drive the global online gambling market.

Complex And Varying Gambling Regulations Inhibit Market Growth

Online gambling laws vary significantly from one region to other. Most countries have their own local laws that deal with the relevant legal and regulatory issues. Countries such as the United States have a much more complex gambling regulatory process. Also, in countries like India, gambling is under strict control. With each individual country enacting particular gambling laws, it is tough to be familiar with them all. Nevertheless, all gambling sites should be compliant with any laws that they are subject to, to ensure gambling sites are operated lawfully, ethically, and are safe. The established and reputable licensing authorities impose a strict code of conduct on the licensees, who have to adhere to the necessary regulations if they are to maintain their licenses. The strict and varying laws across the countries are likely to challenge the online gambling market growth.

Blockchain, Internet Of Things (IoT) And Virtual Reality (VR) In Online Gambling

Technologies such as Blockchain, Internet of Things (IoT) and virtual reality (VR) are changing the scenario of how one can gamble in an online casino. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are a revolutionary addition to the world of online gambling. With VR, one can actually enter into a virtual casino and play all the games without having to travel. However, fraud and cheating were a major concern with the users in online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. This will help in preventing fraud and greatly increasing the trust people have in these online gambling sites. These technologies, therefore, have a big impact on the online gambling market.

 

SOURCE The Business Research Company

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Flexion Reports Revenue Increase of 9% for 2024

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Flexion, the games marketing company, has announced that its revenue grew 9% to year-end December 2024. The growth is attributed to the Company’s success in the alternative app store market.

Since its IPO in 2018, the company has built a well-positioned games marketing business around the alternative stores and grown annual revenue 50-fold to almost US$100 million. Its game portfolio represents several billion US$ in gaming IP for alternative market partners like Samsung, Amazon, Huawei, OneStore and Xiaomi.

“With the Digital Markets Act (DMA) coming into force in Europe and recent legal actions in the US, mobile game developers have felt a new-found freedom to explore their market options. We’ve already moved beyond the era when Google and Apple controlled everything. Developers are looking for alternatives that offer better margins, and additional audiences and revenue. Partnering with Flexion opens up a range of market channels with very little up-front investment,” said Jens Lauritzson, CEO of Flexion.

Flexion currently distributes more than 30 high-profile titles on the alternative stores. Top-tier games in the Flexion portfolio make on average US$ 10 million a year based on Q4 2024 run rate. That’s income in addition to their Google and Apple revenue with a business model that adds little to their costs.

In Q4 2024, Flexion-serviced games were, on average, generating 9.3% through the alternative stores of the revenue they made on Google Play. This is a significant boost for Flexion’s partners without major costs or effort.

“If you scale for the size of the stores, the alternatives massively out-performed Google in Q4 for our games. This is exciting both for Flexion’s business and for the future of the games industry as a whole. We’re seeing the beginning of a sea change in games marketing,” Jens said.

“We’re seeing just the beginnings of a major shift in how top-tier developers address their markets. Using Flexion to access alternative stores is an easy first step into the post- Google and Apple world. Many developers are already looking at their options beyond that and Flexion will be right there with them providing the technology and expertise they need to maximise the potential of their games,” Jens added.

The post Flexion Reports Revenue Increase of 9% for 2024 appeared first on European Gaming Industry News.

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Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024

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The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.

In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.

Dijana Radunović, General Manager at AskGamblers, said: “It’s amazing to see the trust players put in us year after year, and we’re able to repay them by helping them recover their funds from operators or solve other related issues. We’ve had another successful year, with a few records broken and amazing milestones achieved and we can’t wait to see what lies in store in the years ahead.”

The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.

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SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025

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SlotsCalendar, a leading name and tastemaker in iGaming, has announced the second edition of the SlotsCalendar Awards. Winners will be announced during the iGC Malaga event in May 2025.

These awards are rapidly gaining significance in the iGaming world as SlotsCalendar’s steady growth, success, and player-centric mentality represent the community’s interest.

Players have approximately a month to vote between the 10th of April and the 12th of May.

For its 2025 edition, the SlotsCalendar Awards Gala returns to the iGaming Club Conference in Malaga, happening on May 28th. The Awards categories for this year are as follows:

• Game Studio of the Year

• The Slot Everyone’s Talking About

• Star Slot in the Making

• Casino of the Year

• Excellence in Bonus Variety

• Industry Standard in Responsible Gambling

• Live Casino of the Year

• Best Sports Betting Platform

• Best New Casino

• Best Crypto Casino

While the idea of iGaming Awards is not new to the industry, the SlotsCalendar Awards are unique for a simple reason: winners are voted by players from the entire iGaming community.

The uniqueness of these awards makes them particularly important in iGaming. Placing the decision-making strictly in the hands of the player is a fundamental shift in the iGaming community.

SlotsCalendar CEO Viorel Stan said: “It’s truly an honor and a privilege to see how our SlotsCalendar Awards have evolved. Last year’s inaugural edition was a crowning achievement for us. It proved how vast and involved our community is, creating a level of engagement that made us incredibly proud. Being able to return to the iGC and reward some of iGaming’s luminaries in the name of the SlotsCalendar Community is beyond gratifying.”

The post SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025 appeared first on European Gaming Industry News.

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