Connect with us

Latest News

Online Gambling Market to Touch USD 158.20 Billion by 2028; Soaring Popularity of Virtual Gaming Platforms to Catalyze Market Growth: Fortune Business Insights™

Published

on

Reading Time: 3 minutes

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 in a new report, titled, “Online Gambling Market, 2021-2028.”  As per the report, the market was USD 66.72 billion in 2020.

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:

  • December 2020: BetMGM launched the BetMGM Casino in Pennsylvania, with an aim to bring its online gambling portfolio to players in the state. The platform will offer sophisticated mobile casino games, which will be available on iOS, Android, and desktops.
  • February 2020: CBS Sports and William Hill inked a deal under which William Hill will become the exclusive provider of Wagering Data and Sports Book across all CBS Sports platforms. The partnership will integrate sports betting, media, and technology to enhance fan engagement.

List of Key Players Covered in this Market Report:

  • Slots Heaven Casino (Slots Heaven Casino)
  • Sky Betting & Gaming (Leeds, United Kingdom)
  • SPIN Casino (Canada)
  • DraftKings Inc. (Massachusetts, United States)
  • Betfred (Warrington, United Kingdom)
  • BetAmerica (California, United States)
  • LeoVegas AB (Stockholm, Sweden)
  • Betsson AB (Stockholm, Sweden)
  • StarsGroup.com (Ontario, Canada)
  • Kindred Group Plc. (Valletta, Malta)
  • Mansion Casino (Gibraltar)
  • Evolution Gaming AB (British Columbia, Canada)
  • Scientific Games Corporation (Nevada, United States)
  • Buffalo Partners (New York, United States)
  • bet-at-home.com AG (Germany)
  • 888 Holdings PLC (Gibraltar)
  • Bet365 (Stoke-on-Trent, United Kingdom)
  • Flutter Entertainment Plc. (Dublin, Ireland)
  • William Hill Plc. (London, United Kingdom)
  • Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
Continue Reading
Advertisement

Latest News

Sweet Fortune Megaways: A Sweet Slot with Free Spins and Expanding, Multiplying Wilds

Published

on

sweet-fortune-megaways:-a-sweet-slot-with-free-spins-and-expanding,-multiplying-wilds
Reading Time: < 1 minute

 

MGA Games has announced the launch of its new slot, Sweet Fortune Megaways, in the .com markets on August 25th. This game transports players to Sugarland, a magical universe made of sweets and candy. Set in the city of Candyville, where chocolate rivers and caramel streets create a unique atmosphere, the title features the Megaways mechanic and promises a memorable experience.

The gameplay is full of surprises. Players can enter a majestic candy palace through the Free Spins screen, where prizes multiply and a mini game is activated inside the Grand Prize Hall. This combination of mechanics, setting, and interactive elements has been designed to maximize user engagement.

Among its main innovations are random multiplying Wilds (x2, x3), expanding Wilds, and the Megaways structure, which allows for thousands of possible combinations with each spin. Additionally, this marks the first time MGA Games has embraced a candy-themed slot, aligning with the most popular trends in the gaming and entertainment sectors.

The game will also be available in Spain starting September 1st under the name Dulce Fortuna Megaways, and in Portugal beginning October 27th under the title Doce Fortuna Megaways. With this launch, MGA Games continues its international expansion strategy, offering localized, high-performance products for online casino operators.

The post Sweet Fortune Megaways: A Sweet Slot with Free Spins and Expanding, Multiplying Wilds appeared first on European Gaming Industry News.

Continue Reading

ELA Games

ELA Games at SBC Lisbon: New Games, Market Growth, and Awards Night

Published

on

ela-games-at-sbc-lisbon:-new-games,-market-growth,-and-awards-night

 

The ELA Games team is attending the event to demonstrate new developments

ELA Games, a dynamic game development studio, announces its attendance at SBC Lisbon, set to take place at the Feira Internacional de Lisboa & Meo Arena from 16 – 18 September.

Attending the event will be:

  • Marharyta Yerina, Managing Director
  • Oleksii Shulhin, Head of ELA Games
  • Yaroslav Soloshenko, Team Lead Business Development Manager
  • Petr Vonarshenko, Business Development Manager
  • Sadaf Ali, Senior Account Manager

SBC Lisbon is a key annual gathering in the online gaming and betting industry, welcoming over 30,000 delegates to experience innovations, cutting-edge products, and networking opportunities. The ELA Games team will take the global stage to connect with partners, demonstrate its casino-and-player-centric development approach, and reveal new roadmap developments.

At the event, ELA Games will highlight its diverse portfolio, including recent hits from the Winpot series (Joker Winpot, Zeus Winpot, Rabbit Winpot Deluxe), visually rich classics like Juicy Crystal and Flame Fruits Frenzy, and innovative new releases such as Shoot Happens. The team will also preview upcoming titles and discuss recent expansions into important growing markets like Denmark, Sweden, Greece, and more.

Adding to the studio’s momentum, the SBC Awards have nominated ELA Games in the “Innovation in Casino Entertainment (Supplier)” category. The award ceremony will take place on September 18 for a night celebrating excellence and forward-thinking solutions. This shortlisting highlights ELA Games’ ongoing efforts to push the boundaries of online gaming and create new experiences for both operators and players.

Marharyta Yerina, ELA Games’ Managing Director, commented, “We’re always excited to attend SBC events as they’re one of the biggest gatherings of the year where we’re able to see many of our partners and make new meaningful connections. This year, ELA Games has plenty to show the world, as we’ve made numerous additions to our portfolio, developed new mechanics, and pushed ourselves creatively. The team is looking forward to sharing all we’ve been up to, and equally excited to attend the award ceremony!”

ELA Games invites all attendees to visit Stand B350 to chat with the team, explore creative solutions to bolster your content library, and find new ways to engage your player base.

📅 Dates: 16–18 September

📍 Location: Stand B350, Feira Internacional de Lisboa & Meo Arena

Book a meeting to secure a spot!

The post ELA Games at SBC Lisbon: New Games, Market Growth, and Awards Night appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Latest News

EGT Digital’s games are available to Bangbet’s customers in Tanzania

Published

on

egt-digital’s-games-are-available-to-bangbet’s-customers-in-tanzania
Reading Time: < 1 minute

 

EGT Digital and Bangbet have once again strengthened their collaboration. After the impressive results in Kenya and Nigeria, the customers of the popular operator in Tanzania can now enjoy the Bulgarian provider’s gaming content. Players are able to choose among more than 150 in-house developed slot titles, the crash game xRide, as well as the jackpot bestsellers Bell Link, High Cash, Clover Chance, Single Progressive Jackpot, and Gods & Kings Link.

I am very happy that our games are already live in another key market for Bangbet,” commented Zsuzsanna Zeibig, Sales Manager for Africa at EGT Digital. “By extending our reach to Tanzania, one of East Africa’s fastest-growing iGaming markets, we expand our brand visibility and further strengthen our strategic position on the continent. Each new step with Bangbet confirms our role as a trusted partner and supports our long-term growth ambitions to reach more players across Sub-Saharan Africa.

David Kabue Gichuhi, Director of Bangbet, also expressed his satisfaction with the partnership: “EGT Digital’s gaming products continue to demonstrate remarkable performance in all markets where we have integrated them to date, becoming our clients’ absolute favorites. The strong results in Kenya and Nigeria gave us the confidence to bring their content to Tanzania as well, and we are already seeing the same positive impact. This partnership is an important part of our business strategy and we look forward to introducing EGT Digital’s portfolio to players in Ghana and Uganda in the coming months.”

The post EGT Digital’s games are available to Bangbet’s customers in Tanzania appeared first on European Gaming Industry News.

Continue Reading

Trending