Industry News
Why is iGaming one of the most promising niches for a job seeker today?
As of 2023, gambling is considered one of the most popular areas of online marketing. All over the world, the attitude towards the vertical of gambling, as well as towards online casinos, is changing due to many factors, the most important of which is the recognition by many countries of the legality of this way of earning.
In this article, we’ll be discussing why working with a gambling vertical is so profitable and popular on the market. We’ll also discuss why you shouldn’t be afraid to try your hand at working with an online casino.
Online casinos emerge from the shadows
Today, more and more countries are inclined to believe that the legalisation of casinos is more beneficial for the economy than a complete ban. Shady gambling not only deprives players of the protection of the law and provokes the development of crime, but also deprives the treasury of additional income through tax deductions.
Therefore, even conservative countries such as Azerbaijan and Turkmenistan, distinguished by historically strict morals, have adopted a law on the legalisation of online casinos as of 2022.
The following countries are where online casinos are not restricted by law:
- Albania
- Malta
- Andorra
- Faroe islands
- Kosovo
- Liechtenstein
- Belarus
- Isle of Man
- Gibraltar
By 2020, the number of online casinos had grown from 45% to 60%, a number which, according to many forecasts, will continue to grow. This is due to the fact that it has become easier for operators to obtain a licence and play openly than to hide and constantly create new mirrors for the site. More importantly, it can now be done legally.
The popularity of gambling in numbers
The online casino market was formed 5 to 7 years ago and is considered one of the youngest areas of online marketing. According to Gambling.net, about 85% of American adults have played at online casinos at least once in their lives. Almost 26% (1.8 billion) of the world’s population gamble regularly, and roughly 5 billion do it at least once a year.
The 2021 report of the European Gambling and Betting Association states that almost 62% of Europeans have wagered on something during the year, the vast majority doing so at online casinos. In 2021 alone, online casino revenue in the United States amounted to $53 billion, once again proving the massive popularity of the gambling industry.
Gambling is popular not only in Europe, but also in African countries. South Africa, Nigeria, and Kenya are considered the market leaders on the continent.
Reports from the UK Gambling Commission (UKGC) show strong online engagement rates that have continued to rise since the pandemic. It was then that a sharp jump in the popularity of the industry as a whole was recorded. As of 2022, the European online gambling market was 67% of the global one.
According to The Gazette and The Herald, online gambling accounts for 38.8% ($3.4 million) of total gambling revenue in the country. This trend is closely related to the decrease in the popularity of land-based casinos and gambling establishments.
The profit from the online segment in 2021 exceeded $180 billion. Games with elements of augmented reality and improved graphics were especially popular. Advanced gamers trust operators more with the ability to replenish their personal account from the balance of a crypto wallet, proving that online casinos are developing in accordance with current market trends.
Reasons for the development and popularisation of gambling
- Emergence of new regions available for work
Many online marketers contemplating trying their hand at online casino promotion have been intimidated by the amount of upfront costs to enter the vertical. Those regions where promotion is considered the most profitable are distinguished by high rates and, as a result, great competition. The legalisation of casinos in individual countries has provoked the emergence of new countries available for promotion.
Gambling payouts are not tied to the local currency, allowing you to earn money anywhere in the world. Simultaneously, a wide selection of countries and detailed analytics from partner networks help you master new regions and contribute to successful work with them.
- The reality of winning
Contrary to the common misconception that the probability of winning in online slots is extremely small, licensed online casinos are distinguished by a high level of RTP – “return to the player”.
The RTP determines how many bets a player will need in order to return the initial budget in case of a long game. If the RTP is 100%, it means that the chances of winning are equal to the chances of losing funds. The average RTP of licensed online casinos fluctuates around 96% and drops below with rare exceptions.
- Safe gambling
In countries where online casinos are legalised or partially legalised, a licence is required to conduct gambling activities. It allows special commissions to control gambling activities and protect the rights of players on an international level. Licensed online casinos are mistakenly considered as representatives of the grey market. Like any business, they are interested in their players being satisfied with the quality of the services provided, and are therefore focused on cooperation in the long term.
With the advent of legal online casinos, the term “responsible gambling” has become established. The concept of responsible gambling for online casinos means providing access to gambling, including interaction with regulatory authorities in resolving conflict situations. For players, this guarantees the conscientious fulfilment of the obligations undertaken to protect their rights on the part of the operator. In the event of situations that violate the principles of responsible gambling, the online casino licence may be revoked.
- Access to stock exchanges
Every company seeks to attract investors to help develop their business, and the most profitable scaling option is the issuance of shares for circulation on the stock exchange. In the future, trading in brand shares will allow companies to attract the attention of investors and funds for further development.
The IPO process is quite financially expensive. However, with a successful placement of shares, organisations are attracting large sums that contribute to their rapid development in the market. Many casinos have successfully put into circulation the shares of their companies and are continuing to develop. The IPO once again emphasises the legal side of the gambling direction.
- Growing interest in a merger from large corporations
This market development is also proven by the number of M&A transactions in the gambling segment.
At the beginning of 2022, experts said that, as interest rates rise and European economies deteriorate, M&A in the gambling industry would slow down. Today, however, we can see a continuous growth in the activity of these transactions.
The EY Global Consulting report of the first half of 2022 speaks about the sustainability of the global mergers and acquisitions market. Although peak transaction activity fell by 27%, compared to the same period in 2021, it still grew by 35% over the previous 2015-2019 cycle. As of September 2022, more than 2,274 transactions totaling about $2.02 trillion were concluded in the world. At the same time, the technology sector dominated by almost a third.
In early 2022, one of the world’s leading gaming companies, 888 Holdings, which includes brands such as 888, SI Sportsbook, and Mr Green, announced the closing of a deal to acquire William Hill’s non-US assets from Caesars Entertainment in the amount of €2.25 billion, an amount which is not considered a limit. In the middle of the year, the American company, Scientific Games (renamed Light & Wonder) completed the sale of its lottery business to Brookfield Business Partners for a whopping €5.7 billion. Such amounts indicate the scale of the direction, as well as the openness and legal side of doing business
Reasons for the development of gambling as a trend in online marketing
Another trend in the online casino market in 2022 was an increase in the average bet size. The increase in rates began during the pandemic, when the gambling industry experienced a sharp jump in popularity among players.
Despite the fact that the Coronavirus has disappeared from the media field, an increase in the average bet size is still observed today. The average remuneration has increased in direct proportion to the growth of rates. Given the fact that, when working with the gambling vertical, earnings directly depend on the amount of deposits of attracted users, this had a positive effect on the direction as a whole.
- Development of mobile traffic
The development of mobile traffic has been occurring over the past decade. While the lion’s share of the market previously fell on PC users, and browser games confidently occupied the tops, today, more and more players are using mobile applications. There are now many applications for gadgets on the market that allow you to play wherever and whenever it suits you.
In 2020, about 55% of users used mobile devices to play games. Compared to previous years, the impact of mobile traffic on gambling is much stronger. There are new ways to promote applications and measure user behaviour to retain it.
- Implementation of blockchain technologies
The introduction of cryptocurrency as an additional payment method has had a positive impact on increasing the level of attention to the industry from those who store funds in digital currency. The replenishment procedure is not subject to commission for withdrawal and replenishment of funds to the balance of the wallet, and also simplifies the process itself.
Many gamblers who kept their currency in crypto, or played in digital currency markets in addition to slots, now easily replenish their accounts at popular online casinos, which increases the overall amount of traffic. For affiliate marketing representatives, this is an additional trigger that can be used when building a promotion strategy.
Conclusion
The gambling industry continues to evolve. New GEOs, slots, promotion approaches, and even payment methods appear regularly. In addition, more and more countries are reviewing their gambling policies.
Today, gambling continues to occupy top positions among the areas of online marketing available for promotion. Contrary to the established opinion about the taboo of gambling, more and more countries are reviewing their policies and gradually introducing changes to the legislation, allowing players to spend time playing their favourite games without any interference. At the same time, representatives of the digital spheres are also reconsidering their views on the gambling vertical.
As a growing company, DUXGroup is always open for comments and ideas, and, with the rapid development within this gaming niche, we are always looking to add new team members. If you’re interested, go ahead and check out our current vacancies on our website. We hope we will soon have you on board!
Asia
SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’
The fast-growing Boomerang Partners affiliate program continues gaining global recognition, earning a nomination for the prestigious ‘Rising Star Affiliate Program 2024’ category in the Asia region
With a rapidly growing network of over 5,200 affiliates across 70+ countries, the dynamic Boomerang Partners affiliate program has been recognized as a finalist for the ‘Rising Star’ category at the SiGMA Awards Asia 2024. While Asia is not currently the central focus for brand promotion, this prestigious recognition from SiGMA is a notable honor that inspires Boomerang to fortify its global footprint and industry-leading position.
In 2023 alone, Boomerang’s achievements included paying over €50 million to affiliates, creating 22 exclusive branded games, hosting 82 tournaments across 30 regions, and expanding into 31 new markets. This followed prestigious wins like ‘Casino of the Year’ at the SiGMA Balkans/CIS Awards, ‘Commission Offer of the Year’ at the AffPapa iGaming Awards, and ‘Best PPC Affiliate’ at the SiGMA Europe Awards.
This year, Boomerang Partners is highlighting innovations like a worldwide traffic tournament and has already been nominated at the AffPapa, MAC, and AskGamblers Awards – eagerly awaiting the results across these prestigious voting processes and final selections.
“We actively collaborate with SiGMA, having participated in their events and been honored with SiGMA awards in other regions previously,” said Vitalii Prokofev, CEO at Boomerang Partners. “SiGMA sets the standard with premier industry events and accolades worldwide. This nomination at their Asia awards is valuable recognition that fuels our ambition to raise our global profile further.”
Boomerang Partners invites all affiliate managers and industry enthusiasts to learn more about their award-winning program. Voting for the SiGMA Asia Awards runs until May 20th. Winners will be announced at the June 3rd ceremony during the June 2-5 event in Manila.
Support Boomerang in the ‘Rising Star’ category while voting for other favorites at SiGMA.
The post SiGMA Asia Awards 2024: Boomerang Partners Nominated for ‘Rising Star Affiliate Program’ appeared first on European Gaming Industry News.
Hard Rock International
The Mirage Hotel & Casino to Begin Transformation into Hard Rock Las Vegas on July 17, 2024
Hard Rock International (HRI) announced its plans to cease operations of The Mirage Hotel & Casino as of July 17, 2024, to begin the transformation of the property into the highly anticipated Hard Rock Hotel & Casino and Guitar Hotel Las Vegas (HRHCLV).
Hard Rock will develop a new integrated resort featuring a nearly 700 ft. guitar-shaped hotel towering prominently in the center of the famous Las Vegas Strip.
“We’d like to thank the Las Vegas community and team members for warmly welcoming Hard Rock after enjoying 34 years at The Mirage. We’d also like to thank the Unions, community leaders, local and state government organizations and the Gaming Commission for their support and fair negotiations over the past year. Also, we are grateful to MGM for assisting with our transition,” Jim Allen, Chairman of Hard Rock International, said.
“While we pause for the incredible transformation of this iconic property, I’d like to thank all team members at The Mirage for their incredible commitment and helping us provide memorable experiences for our guests. We are planning to host collaborative hiring events with other employers in the Las Vegas community over the coming months. Connecting the thousands of talented Mirage team members who provide outstanding service with new employment opportunities is a top priority,” Joe Lupo, President of The Mirage, said.
HRHCLV is expected to double the current number of jobs at The Mirage for the Las Vegas community, while the renovation of the property will generate over 2500 construction jobs. Hard Rock will pay approximately $80 million in severance packages for eligible union and non-union employees remaining with the property through cessation of operations.
Industry News
IGT Reports First Quarter 2024 Results
International Game Technology PLC has reported financial results for the first quarter ended March 31, 2024.
“Innovative game, hardware, and systems solutions drove better-than-expected Global Lottery and Gaming & Digital performance in the first quarter. As a result, we are upgrading our full-year 2024 revenue and profit goals, which reflect broad-based momentum across key performance indicators in the balance of the year. We continue to make progress on separating Global Lottery from Gaming & Digital and preparing for the proposed transaction with Everi,” Vince Sadusky, CEO of IGT, said.
Key Highlights:
- Announced Gaming & Digital business to be spun off and combined with Everi Holdings Inc.; transaction expected to close in late 2024/early 2025
- Recognised with top honours at ICE London 2024 awards programmes including “Lottery Product of the Year” and “Best Diversity and Inclusion Employer”
- Received a supply contract extension from the UK National Lottery
- Executed licensing agreement with the Maryland Lottery for IGT’s patented Cash Pop draw-based game
- Mystery of the Lamp named “Top Performing New Premium Game” at 2024 EKG Slot Awards Show
- Awarded contract to provide PeakDual 27 video lottery terminals across Quebec
- Launched iGaming content in Rhode Island
- Achieved AAA MSCI ESG rating, the highest rating possible, and earned a gold medal sustainability rating from EcoVadis.
“We delivered a record organic profit performance in the first quarter, if we exclude Separation & divestiture costs. The Company is operating from a position of strength with historically low net debt leverage, ample liquidity, and manageable near-term debt maturities,” Max Chiara, CFO of IGT, said.
The post IGT Reports First Quarter 2024 Results appeared first on European Gaming Industry News.
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