Convenience One of the More Important Factors Contributing to Growth of Online Gambling
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PALM BEACH, Fla., July 7, 2021 /PRNewswire/ -- Online and mobile wagering has grown dramatically during the pandemic and is projected to continue to grow over the several years to come. With the growing use of the internet, the growth rate of online casinos has increased significantly. In addition, growing awareness of the latest technologies and increasing disposable income of individuals are expected to propel market growth. Developments in the online space are parallel to the annual growth of internet casinos. These developments are made to achieve the desired credibility in the gambling zone. Therefore, online casinos are focusing on investing in information solutions that offer continuous support to gamblers, ensure the credibility of the operations, and prevent illegal affairs. Numerous online casinos are offering a free play version of some of their games, which is creating growth opportunities for the market. A report from Grand View said that the global online gambling market size, that was valued at USD 53.7 billion in 2019, is expected to grow at a compound annual growth rate (CAGR) of 11.5% from 2020 to 2027. The high internet penetration and increasing use of mobile phones among individuals for playing online games from their homes and public places are driving the market. In addition, factors such as easy access to online gambling, legalization and cultural approval, corporate sponsorships, and celebrity endorsements are also contributing to market growth. The growing availability of cost-effective mobile applications across the globe is further expected to fuel market growth. Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), Corsair Gaming, Inc. (NASDAQ: CRSR), Golden Nugget Online Gaming (NASDAQ: GNOG), DraftKings Inc. (NASDAQ: DKNG), Penn National Gaming, Inc. (NASDAQ: PENN).
The Grand View report said: "Increasing the development of new technologies such as virtual reality and blockchain is also driving the growth of the industry. This may be attributed to the fact that several companies are now integrating the blockchain technology into their online gambling business. This helps them ensure transparency in gambling activities and offer enhanced user experience. In addition, blockchain-based gambling platforms are completely decentralized and are free of third-party influence. Online poker has garnered attention, particularly from college students. The segment is expected to register a significant CAGR owing to the wide popularity of online card games. Over the years, convenience has been one of the most important factors contributing to online poker's popularity as many sites accept deposits from major credit cards, online wallets, and even virtual currencies such as Bitcoin. The wide range of games available for players to choose from is further driving the segment."
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Accelerates IP Development of Advanced Predictive Gaming Models - Adds Multiple PhDs to World-Class Quant Team -Esports Technologies, a leading global provider of advanced esports wagering products and technology, has established a dedicated quantitative analysis ("quant") team to continue to develop the company's intellectual property, focusing on new esports predictive gaming models and predictive consolidated data feeds. This initiative is designed to allow Esports Technologies to work on developing its cutting-edge wagering platform and products while partnering with B2B customers to generate revenue from the use of its technology.
Jason Finch, who was formerly the company's Director of Research and Technology, has been elevated to Chief Technology Officer and will lead the new team. A veteran of analytics, trading, and modeling, he has previously managed quants to develop real-time models for pricing sports, politics, and other innovative event products. Under Finch's direction, the Esports Technologies quant team now includes:
Brad Cole, an applied mathematician who has developed highly detailed pricing models for esports wagering and competitor talent evaluation, as well as validation of battle royale esports modeling via stochastic graph theory, simulation methods, and big data methods on competitor results.
Dr. Stephan Roberts, a mathematician who carries a wide-ranging expertise in analysis and statistics and the recognition of complex patterns. Dr. Roberts has published academic papers discussing topics of orderings and polynomials.
Dr. Da Xu, a senior machine learning engineer joining Esports Technologies. Dr. Xu has developed forecast models using optimization algorithms and deep learning. He has also performed quantitative research of alpha risks for hedge fund clients using machine learning models.
Dr. Jonathan Pearce, a computational physics Ph.D. joining Esports Technologies. Dr. Pearce specializes in numeric methods, data mining, and the calculation of probabilities. Much of Dr. Pearce's work has involved trend analysis using various data collection and data visualization methods.
Bart Barden, Chief Operating Officer of Esports Technologies, said, "Mr. Finch has done an excellent job leading our research and technology departments, and he is well-prepared to lead our world-class quantitative, platform and data team. We believe the latest additions of Dr. Roberts, Dr. Xu, and Dr. Pearce will accelerate our ability to provide state-of-the-art solutions that enhance the esports wagering experience to our product offerings and those of our partners. Our commitment to quantitative analytics is a strategic move that will have far-reaching effects on our growth and our aggressive acquisition strategy." CONTINUED…READ THIS AND MORE NEWS FOR EBET BY VISITING:https://esportstechnologies.com/news/
In other entertainment and gaming recent news of interest:
Corsair Gaming, Inc. (NASDAQ: CRSR) a world leader in enthusiast components for gamers, creators, and PC builders, recently announced a new series of full-tower ATX cases to accommodate the biggest, most ambitious enthusiast builds: the CORSAIR 7000D AIRFLOW and the CORSAIR iCUE 7000X RGB. Available in black and white, both 7000 Series cases feature a mammoth interior for maximum cooling potential, accommodating multiple radiators – up to three 360mm or two 420mm simultaneously. Exceptional airflow comes courtesy of included 140mm PWM fans featuring CORSAIR AirGuide technology, while the popular CORSAIR RapidRoute cable management system helps you easily create tidy, professional-looking builds.
Choosing from either the 7000D AIRFLOW's perforated steel high-airflow front panel, or the 7000X RGB's three beautiful tempered glass windows to showcase your system and lighting, PC enthusiasts will find the ideal case for their next masterpiece.
Golden Nugget Online Gaming (NASDAQ: GNOG) and Detroit's Rocket Mortgage Classic recently announced a partnership making GoldenNuggetCasino.com the Official National Casino Partner of the 2021 & 2022 tournament. This year's tournament will be held from July 1- 4 at the Detroit Golf Club in Michigan. GNOG will have on-site branding and will be giving away premier golf bags, all-inclusive hospitality upgrades to Club 1899, prizes, Golden Linesodds boosts on wagers placed during the tournament, and an exclusive promotional casino & sportsbook bonus for tournament attendees.
The 2021 Rocket Mortgage Classic has drawn 156 of the world's best golfers including Phil Mickelson, Bryson DeChambeau, Rickie Fowler, Hideki Matsuyama, Webb Simpson, Bubba Watson, and Matthew Wolf, to name a few. The third annual tournament at the historic Detroit Golf Course will be nationally broadcast on PGA Live, Golf Channel, and CBS over the July 4 weekend. GNOG sportsbook will be hosting their Golden Lines odds boosts, featuring the Rocket Mortgage Classic, where wagers placed on the tournament will receive boosted odds.
DraftKings Inc. (NASDAQ: DKNG) recently announced that they have entered into a strategic consulting agreement with the Division on Addiction (Division) at Cambridge Health Alliance, affiliated with Harvard Medical School. In coordination with the DraftKings Responsible Gaming team, the Division will create an innovative systems-based safer play approach to training employees across the business in responsible gaming, including a logic model, conceptual map, needs assessment schedule, and evaluation plan. Systems-based safer play describes a method that includes approaches to training, business practices, and player resources that recognize and respond to the larger context of the gaming environment and its interacting elements.
Penn National Gaming, Inc. (NASDAQ: PENN) recently announced that it has completed the previously announced acquisition of the operations of Hollywood Casino Perryville in Maryland. In December 2020, the Company entered into a definitive agreement with Gaming and Leisure Properties, Inc. (GLPI: Nasdaq) ("GLPI") to acquire the operations of Hollywood Casino Perryville for $31.1 million in cash. Today, the Company entered into a lease with GLPI for the real estate assets associated with the facility, with annual rent of approximately $7.77 million. Penn National's acquisition received final approval from the Maryland Lottery and Gaming Control Commission on May 27, 2021.
"Penn National is excited to re-enter the strong Maryland gaming market and to once again operate Hollywood Casino Perryville, a property we developed in 2010. Today's acquisition of the operations of Hollywood Casino Perryville adds a twentieth gaming jurisdiction to our leading nationwide footprint," said Jay Snowden, President and CEO of Penn National.
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