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Online gambling refers to betting one’s money online, through playing over the internet. The online gambling market comprises of games such as casinos, bingo, lottery, poker, betting, and country-level games. The device type of online gambling is categorized into mobile and desktop gambling games.
The online gambling market comprises revenue generated by remote gaming activities via the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casinos, bingo, lotteries and poker games, among others.
The government of Laos aims to regulate internet gambling and create a structure highly reminiscent of POGOs, allowing it to keep track of gaming money, levy it, and enact rules that safeguard customers.
The government is currently considering adopting regulations that will establish a framework for businesses to submit licence applications. In order to replicate Curacao’s licencing system, the licencing procedure should be divided into two groups: master licences and sub-licenses.
Until recently, Laos mainly relied on its brick-and-mortar industry, but this is changing as the nation deals with the COVID-19 pandemic’s effects, which have had an impact on tourism and the gaming sector.
Online casinos that were operating illegally grew in number, further robbing the federal government of tax money. The shift toward online gambling is essentially a recognition that it is exceedingly difficult and expensive for the government to enforce a ban on the activity, particularly in emergency situations like when a pandemic causes everyone to shut down.
The market is expected to greatly flourish in the forthcoming years owing to the COVID-19 outbreak and people relying more and more on home-based entertainment during these trying times along with rising internet penetration and smartphone usage across the globe.
Artificial intelligence, chatbot, blockchain technology and machine learning have greatly contributed to the evolution of this industry, making it a hit in recent times. The increasing number of participants across the world along with commercialization and an increase in spending ability of end users is driving the online gambling market to success.
Furthermore, change in consumers’ offline casino preferences, the convenience of cashless modes of payment during gaming and the legalisation of betting activities in many countries have further accelerated the growth of the online gambling market on a global level. Rising number of internet users and increase in the time spent on smartphones is creating huge opportunities for the online gambling market.
However, Security and authentication related issues still continue to be barriers in the growth of this market segment as fraudulent practices over the internet is still on the rise, thus presuming the online gambling market to be an unsafe practice by many.
Though internet gambling is no more a new method of gambling, there is still a lack of understanding of its application and impact. Ever-changing preference for online gambling, technology enhancement, innovation, and ever-changing policies has made the process of comprehending the online gambling system at a global level difficult and complex.
Rapid urbanization, along with the increasing penetration of the internet across the globe, is one of the key factors driving the growth of the market. Furthermore, legalization and cultural approval of online betting in various developed countries are also providing a boost to the market growth.
Online sports companies are also attaining high-profile sponsorships with various football and racing clubs, which helps attract new users. In line with this, convenient access to online casinos that can be used through mobile phones is also creating a positive impact on the online gambling industry.
Various technological advancements, such as the development of virtual reality (VR) and blockchain tools, are acting as another growth-inducing factor. These technologies aid in maintaining the transparency of gambling activities and provide an immersive experience to the player. Other factors, including increasing expenditure capacities of the consumers, along with the advent of bitcoin gambling, are expected to drive the market further.
Online betting holds a prominent share: The growing number of sports fanatics all across the globe which in turn has fuelled the demand for sports betting. Esports has been the fastest growing segment gauging huge customer attention and attracting many potential consumers especially in events such as FIFA World Cup and European Championships. Betting on sports like that of boxing, hockey, cricket and baseball is also hugely driving the market.
Ease of sports betting using a computer or a smartphone coupled with increasing ads on the same have proved to be beneficial for agencies globally and is expected to drive the market further in forthcoming years.
Online agencies, networks and exchanges and third-party ad servers are used to advertise gambling websites of various companies, many of the sports betting companies have indulged in sponsorship activities as part of their marketing initiatives and brand awareness and expansion measures. As in the case of Mobil 1 pairing up with Rocket League for mutual benefit in terms of their respective brands.
BETSSON acquired INKABET to strengthen its market position in the western region of South America.
SW NORDIC Ltd. A subsidiary of BETSON AB of (PUBL), has signed an agreement has signed an agreement to acquire INKABET B2C online gambling business. Inkabet offers sportsbook and casino products, targeting western region of South America.
BETSSON granted online gaming licenses in Greece, it gets the licenses for online gaming and betting in Greece and will be launching its flagship brand by late 2021.
BETSSON secures platform technology to continue expansion and support future growth in Latin America.
Betsson perch investments AB,a subsidiary of Betsson AB has acquired 50% of the shares in software development company JDP tech Ltd. consideration payable for the shares amounts to EUR 8.8 million. This allows Betsson to secure customer payment flows for the continued expansion in Latin America.
British online gambling firm 888 Holdings Plc will offer sports betting under the Sports Illustrated brand to U.S. customers later this year.
Kindered have invested heavily in developing technologies to detect and prevent problem gambling. They used their knowledge to create a digital fingerprint of their customers’ behavior. This fingerprint will allow them to monitor, detect and follow up on problem activities. We then provide targeted customer protection, which is a central part of building a safe and responsible gambling environment. Their player monitoring system (PS-EDS) detects early signs of problem gambling and is a major pillar in Kindred’s sustainable gambling approach.
Real time experience due to advancement of new technologies: Developments in the online space runs parallel to the annual growth of online casinos. Increasing popularity of new technologies like that of virtual reality and blockchain is also greatly contributing to the growth of this industry.
As many companies are integrating the new blockchain technology into their gambling business, this in turn ensures transparency in gambling activities and offers enhanced user experiences. This practise has also helped more consumers to trust the company’s legitimacy and indulge in gambling activities more freely, thus building customer loyalty in the form of game rewards. In addition, blockchain gambling platforms are free of third-party influencers further making it a more preferred choice among gamers.
Electronic Gambling Devices are inexpensive to run and easily accessible to the masses. These devices have a built-in software that mimics the experience of a real time casino. For example, electronic slot machines, video slot machines, electronic poker machines and spinning reel slot machines have seen a subsequent increase in demand globally. This has fostered its recent popularity thus ensuring a lucrative market ahead for the online gambling industry.
There were concerns with online casinos not being transparent and hiding their workings and dealing, which has been resolved by blockchain technology. With the features of blockchain used, everyone can see exactly what is happening behind the screens, thus preventing various kinds of fraud maintaining trust and transparency among the players during online gambling.
With technology enhancement, easy access to websites and software applications has improved. For example, with technology advancement, Video Lottery Terminal has the potential to get customized to video slot machines and poker games electronically.
Moreover, the relaxation in government policies and guidelines concerning online gambling has given a significant boost in the online gambling market.
Based on different types of online gambling which include casinos, bingo, poker, and sports betting, sports betting is expected to dominate the market. With the right combination of technological advancement and widespread access to mobile phones with the internet, the online gaming segment is assumed to grow rapidly in the next few years.
In various games like FIFA World Cup, European Championship and greyhound racing are gaining vast popularity. Moreover, increased adoption of smartphones coupled with the influence gained through sports ads at a global level has further boosted the growth of sports betting in the upcoming years.
Based on the type of device used, the average use of the mobile devices as compared to desktop is significantly greater due to the increased adoption of smartphones coupled with easy access to the internet and mobile game applications.
In most of the regions, the share of mobile users holds 80% of all the users in the online gambling industry. But at the same time, desktop gaming is expected to dominate due to the big display giving a better playing experience with large graphic visuals. These features are further backed up by high storage, sound quality giving preference and inclination towards desktop gaming. At the same time, the average use of the mobile devices as compared to the desktop is significantly greater due to the increased adoption of smartphones with easy access to the internet and mobile applications.
Regulation of Gambling Laws: Laws regarding online gambling vary from one region to another. The established and reputed licensing authorities in different locations have imposed a strict code of conduct concerning licenses in this segment which needs to be strictly adhered to by the licensees. However, numerous countries are now regulating laws and restrictions related to online gambling as it is known to generate lucrative revenue and offer employment opportunities to many.
Online casinos are also trying to focus more on investing in information solutions to ensure a continuing support to online gamblers, ensure the credibility of such activities and prevent illegal affairs. Many casinos in turn, are offering a free play version for some of their games, which is creating great market opportunities for growth.
Europe is expected to continue its dominance over the online gambling market owing to legalization of gambling activities in countries such as the United Kingdom, Germany, Malta, France and Italy.
Meanwhile, the growing use of internet services and smartphones in the Asia pacific region looks like a promising market for Online gambling in the coming years. High economic growth and Increasing popularity of these betting websites is further expected to drive the market in this region and showcase a staggering growth rate.
As per the regional analysis, the laws associated with online gambling vary from region to region. Some of the countries have their own policies and rules, responsible for dealing with relevant legal and relevant issues. While countries like the United States have their gambling regulatory process very complex.
The online gambling is practiced majorly in South America, North America, Europe, Asia-Pacific, and Africa, Europe is dominating the market and is expected to dominate in the coming year as well. The policy framework providing relaxation is the primary factor for the adoption of increased online gambling on a large scale.
Due to the adoption of innovation, product development backend by technology and collaborations, some of the leading players are Bet365 Group Ltd., William Hill PLC, and Paddy Power Betfair PLC.
Third-party ad servers and online agencies are responsible for promoting the gambling websites of various companies. Also, the online gambling service providers can get into mutual agreements with customers/players for providing additional and better services in exchange for real money, which in turn is generating more game obsessed customers, giving a boost to the market growth of online gambling.
The online gambling market in India is still at its early stages but shows great potential with the rise in internet and smartphone penetration and a growing interest among players regarding online gaming and gambling websites. India has seen one of the fastest growing gambling markets despite apps operating in the grey area of the law.
Although gambling activities are heavily restricted under the Indian laws except for horse racing and lotteries, many global companies and regional players have been successful in targeting the Indian audience and garnering a market for the same.
Real money gambling games such as Adda 52, Poker stars, Junglee rummy in India continues to grow at a considerable rate with sports betting being the most popular choice among the audience.
India is one of the largest countries with its younger population largely invested in sports, especially cricket. Games like Dream 11 and Mobile Premier League which lets the players form their own teams and practise sports betting on various tournaments have been quick to attract the crowd and are only expected to see further growth in the market.
Currently, the state of Sikkim and Goa are the only two places which allow some regulations in gambling practices, with a little ease in government regulations related to such practices, Indian market is sure to attract many foreign players into the industry.
The pandemic led to the closure of casinos, gambling venues like bars, breweries, bingo halls, horse racing, and others, as well as lottery outlets. A suspension of sporting events also affected the gambling industry worldwide which in turn opened ne doors for Online gambling platforms to flourish in the period.
The online gambling market increased exponentially due to the outbreak of COVID-19. The social distancing norms had to lead a huge population to get confined in their homes, with a lot of leisure time to participate and engage in online activities, including online gambling. Many tried their hands at playing online slots or other live dealer games.
Many online casino sites found new subscribers, while the regular players also made it a point to play online, marking a paradigm shift in the way the traditional gambling industry used to function. Gambling business owners want to match the new generation of players who don’t go to mainstream casinos and clubs but prefer to play from their gadgets or home PCs.
Benefitting from condensed football fixtures, favourable sports results and ongoing resilience of live gaming and events, many of these companies witnessed an influx of revenue with growing traction among customers. However, the outlook remains highly uncertain, due to potential further Covid-19 related disruption and possible regulatory change across various markets.
Many Gambling operators have quickly tried to make a shift into online versions of their product as gambling rapidly moves into the virtual space in order to grab this newly found opportunity and be able to enjoy its benefits while it lasts.
The addictive nature of online betting games such as rummy, poker, their increased incidence, cases of innocent people being cheated and suicides. People caught in wagers or bets in cyberspace using any communication device or any other instrument of gaming by playing rummy, poker or any other game or facilitates or organises such wager being subject to serious consequences have been a hindrance for the industry in many countries with varying laws over the matter.
Due to Covid-19 land-based gambling accessibility decreased, online gambling sites continued to operate. The business had in fact, flourished and that the pandemic served to promote this increasingly popular gambling format. Online gambling sites typically include the full range of types of gambling, including lottery ticket sales, casino table games such a roulette, blackjack and craps, slot machines, online poker and sports betting.
With the exception of sports betting, which was affected by the cessation or reduction of professional sports worldwide, all other types have been continuously available from both legally regulated and unregulated site operators. Some jurisdictions, however, have taken steps such as limiting advertising and imposing a daily betting cap to minimize potential harms during the pandemic.
To know more about Asia Pacific Online Gambling Market, read our report
The possible variants of virtual contests are only limited by one’s imagination and, to a certain extent, by technology. This means that the number of potential virtual contest formats is infinite.
Engaging sports fans is the USP of fantasy sports. They have been able to increase the salience of and interest in various sports that have otherwise struggled to garner public attention.
A fantasy sports contest is a separate, derivative strategy contest that is based on but distinct from the real-world sports match. Users stake on their own ability to research, plan, draft, select and assemble a virtual team from available players, within the rule constraints of the contest, in an attempt to outwit other users and win, at times, cash prizes. It is in some ways akin to professionally managing a virtual sports team and being compensated for good performance.
Fantasy sports do not involve staking on the results of the underlying real-world sports match or, for that matter, directly on the performance of the participating athletes.
The judicial clarity acted as a fillip for the fantasy sports industry, changing the risk profile of the sector and attracting entrepreneurial interest and venture funding. Practically all of the 100+ fantasy sports operators began offering more-or-less the same judicially-endorsed format. Instead of differentiating on product, the operators focused on highly visible marketing campaigns to attract new users.
The ongoing trajectory of events suggests that it is time to put in place a mechanism that insulates legitimate fantasy sports operators from criminal liability and recognises fantasy sports as a cross-border activity deserving immunity from the vagaries of variable state-by-state treatment.
While freeing innovation and creativity from their current dependence on judicial permission, this can be done by recognising an independent administrative forum where operators can test new formats and have them evaluated and endorsed prior to their safe and protected roll out to the public. Passing the legal threshold and finding the right balance between innovation, integrity and legality must form a key component of empowered self-regulation of the sector.
Market leaders in this segment have relied on mergers to increase their market shares and expand globally. The key players in the online gambling market include Leo Vegas International, Betfair, 888 Holdings Inc, William Hill, Onisac Ltd and Kindred Group among others.
Companies are focusing on consistent innovations in order to personalise and differentiate their service offerings from its competitors, relying on marketing strategies. Product launches, mergers, Collaborations and acquisitions are some of the key strategies adopted by the players to gain a competitive edge in the market.
Flutter Entertainment, the parent company of Paddy Power Betfair and FanDuel, has announced the completion of its acquisition of and merger with The Stars Group (TSG). The mega-merger, saw Flutter purchase all of the shares in TSG and join together with the operator to create a combined operation with annual revenue of £3.8bn. It enhanced the Group’s brand portfolio, adding high quality consumer-facing names such as Sky Bet, Sky Vegas and PokerStars to the Flutter stable.
On 30 September 2020, the boards of William Hill, Caesars UK Bidco Limited and Caesars Entertainment, Inc. announced that they had reached agreement on the terms of a recommended cash acquisition pursuant to which Caesars UK Bidco shall acquire the entire issued and to be issued share capital of William Hill not already owned by or on behalf of the Caesars Group for a cash price of 272p per share.
Gambling-related harm consultancy Epic Risk Management has become the gambling awareness partner of the Counter-Strike Professional Players’ Association (CSPPA), the global association for Counter-Strike: Global Offensive players.
The Malta Gaming Authority (MGA) has revealed that it cancelled seven licences in the first half of 2020, while it contacted a number of other gambling operators in relation to breaches of its rules and regulations.
William Hill US went live in five new states and launched mobile in five states, leading to 121% net revenue growth in the fourth quarter. William Hill’s sports betting apps and sports book odds are now featured on both ESPN and CBS Sports, two of America’s leading sports media brands, as a result of agreements entered into during the year.
William Hill’s Q2 group revenue was SEK 1,751.6(1,532.8). Q2 operating income (EBIT) was SEK 383.4(217.7) million. Q2 EBIT margin was 21.9% (14.2%). Q2 Casino revenue decreased by 5% . Q2 sportsbook revenue increased by 125%.
888 holding plc 2020 revenue of £1,157m (Online £803m; Retail £354m) and adjusted EBITDA of £157m (Online £176m; Retail £15m) The retail estate was closed for a significant portion of 2020, reflecting disruption from COVID-19. Recent product improvements have driven a significant acceleration of growth, with H1-2021 online revenue growth of 38%, including 56% growth in the Q2 2021 performance, Group Net Revenue of $5.6 billion improved relative to $1.2 billion in Q2 2020 and $5.1 billion in Q1 2021. Group Adjusted EBITDA of $1.1 billion also grew vs the $1.4 billion loss in Q2 2020 and was up 32% quarter-on-quarter.
Kindered Number of active customers were 1,907,276, and the result for the quarter has been impacted by M&A costs of GBP 3.7 million connected to the acquisition of Relax Gaming and a credit of GBP 4.2 million following a reduction of the disputed regulatory sanction from the SGA , Gross winnings revenue increased by 55 per cent to GBP 363.7 (235.1) million. Underlying EBITDA was GBP 114.3 (51.7) million.
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