Showing No Signs of Slowing Down, Global Online Gambling Market Expected To Reach A Total Market Size Of $66 Billion In 2025
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PALM BEACH, Fla., Sept. 21, 2021 /PRNewswire/ -- The Global Online Gambling Market is another survivor that thrived in during the COVID-19 pandemic. The recent COVID-19 pandemic has led to a sudden rise in the revenues of online gambling service providers, thus positively impacting the overall market growth. According to Google Trends, gambling has moved online amid the closure of physical gambling venues coupled with cancellation of various sports events and tournaments. According to ResearchAndMarkets, the figures show that the online gambling has emerged as one of the biggest winners during the shutdown alongside services such as online retail, food delivery, and subscription services. The report also said, "Increasing number of cost-effective mobile applications to play different online gambling games on smartphones is also contributing to the market growth of online gambling worldwide. Ease of sports betting using a portable connected device such as smartphone, laptop, and tablet has increased the number of players in the online gambling industry. The report projected that the global online gambling market, which was valued at US$44.317 billion in 2019, is expected to grow at a CAGR of 7.13% over the forecast period to reach a total market size of US$66.994 billion in 2025. Active gaming and tech companies in the markets today include: Esports Technologies (NASDAQ: EBET), NeoGames S.A., (NASDAQ: NGMS), Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR), Boyd Gaming Corporation (NYSE: BYD), Penn National Gaming, Inc. (NASDAQ: PENN).
ResearchAndMarkets continued saying, "Growing popularity of betting across different regions around the globe is significantly driving the global online gambling market. According to the American Gaming Association (AGA), around 2,800 sites are active online and offer games and activities such as poker, lottery, and bingo, as of 2018. Growing adoption of smartphones coupled with rapid penetration of better internet connectivity across various regions/countries is supporting the easy access to various online gambling platforms. With companies offering freemium model to their customers, the number of people engaged in various types of online gambling is rising at a considerable rate which, in turn, is boosting the growth of global online gambling market. Moreover, proliferation of sports betting along with other online gambling ads is further attracting people to try online gambling, thus positively impacting the market growth during the forecast period."
Esports Technologies (NASDAQ: EBET) – BREAKING NEWS - Esports Technologies Odds Modeling and Wagering Technology to Integrate with Aspire Global's Platform - Esports Technologies Signs Strategic Deal with Aspire Global-Esports Technologies, a leading global provider of advanced esports wagering products and technology, announced today a strategic license agreement with Aspire Global (STO: ASPIRE) to integrate Esports Technologies proprietary odds modeling, market creation, and trading feed into Aspire's esports platform. Through this agreement, Esports Technologies will have access to Aspire's range of offerings and managed services.
Aspire Global is a leading B2B-provider of iGaming solutions, comprising a robust technical platform, proprietary casino games, a proprietary sportsbook, and a game aggregator. Aspire also operates several B2C brands, including Karamba, the premier showcase of its B2B offering.
Tsachi Maimon, Aspire Global's CEO, said, "We are happy to welcome Esports Technologies as an esports partner. We look forward to providing the esports proprietary solutions for iGaming operators. We are also thrilled to integrate Esports Technologies groundbreaking and engaging wagering products on our platform."
Bart Barden, COO, Esports Technologies, said, "We are at an exciting rapid growth phase, expanding our business across multiple markets and service offerings. When executing on our plan to expand our presence in key markets, Esports Technologies searched for a solution that would allow us to further differentiate ourselves in our goal of becoming a leader in esports wagering and technology. In Aspire Global, we have found a long-term partner that meets our high demands." CONTINUED…READ THIS AND MORE NEWS FOR EBET BY VISITING:https://esportstechnologies.com/news/
In other entertainment and gaming recent news of interest:
NeoGames S.A., (NASDAQ: NGMS), a technology-driven provider of end-to-end iLottery solutions, recently announced the rollout of a multi-game progressive jackpot feature in selected eInstant games to be rolled out across its customer base.
NeoGames Studio's progressive jackpot can be implemented flexibly across clusters of eInstant games. The greater chance to win in a shared progressive jackpot heightens the attraction for players, increases overall player engagement and accelerates jackpot growth.
Score Media and Gaming Inc. (NASDAQ: SCR) (TSX: SCR) recently announced that its wholly-owned subsidiary, Score Digital Sports Ventures (Canada) Inc. ("theScore Bet"), has entered into a multiyear agreement with Golf Canada to become its Official Gaming Partner. The exclusive partnership makes theScore Bet the first ever gaming partner for Golf Canada and its prestigious National Open Golf Championships - the CP Women's Open and the RBC Canadian Open.
The partnership, which begins in 2022, provides theScore Bet with access to activate across Golf Canada's high-profile events and large digital footprint. As an exclusive gaming partner of the RBC Canadian Open and the CP Women's Open, theScore Bet will be able to engage fans through a variety of on-site activations, including creating members club experiences for theScore Bet users, as well as digital activations through both tournaments and Golf Canada's channels.
Boyd Gaming Corporation (NYSE: BYD) recently reported financial results for the second quarter ended June 30, 2021.
Keith Smith, President and Chief Executive Officer of Boyd Gaming, said, "Our second-quarter results reflect the strength of our operating strategy as our streamlined cost structure, enhanced capabilities, and focus on our core customers all continue to drive strong results throughout our portfolio. We achieved record results for Adjusted EBITDAR and operating margins, with Companywide margins exceeding 43% and Las Vegas Locals margins approaching 57%. During the quarter our business continued to strengthen, as gaming revenues surpassed 2019 levels. We are encouraged that the strength from the first half of the year has carried into July and are confident in our ability to continue delivering robust levels of EBITDAR and margin performance. These outstanding results are a tribute to the hard work of the entire Boyd Gaming team and their shared dedication to our transformed operating model, which will continue to create long-term value for our stakeholders."
Penn National Gaming, Inc. (NASDAQ: PENN) recently announced that it has opened a career center and is accepting applications for approximately 375 new positions at Hollywood Casino Morgantown, which is expected to open by the end of 2021, pending customary regulatory approvals. The career center is located at the Holiday Inn Morgantown at 6170 Morgantown Road. In addition, the Company will be hosting a number of Table Games Dealer School Open House hiring events over the next two weeks at the career center.
"We are thrilled to begin accepting applications for our newest property from residents of Berks, Lancaster, and Montgomery counties, and other neighboring communities," said Erin Chamberlin, Senior Vice President of Regional Operations for Penn National. "We look forward to interviewing candidates for the vast array of jobs that will support our expected grand opening later this year."
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