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Global Online Gambling Market to Reign in Huge Profits till 2025 with Registering a CAGR of 13.2%

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2020 was a game-changing year online gambling market, mainly due to the online gaming & gambling legalization in the US. Ballot initiatives in the U.S. presidential election from November 2020 added new states to the growing list of U.S. states where online casino betting is legalized, allowing the online gambling market to garner significant revenues. The newly elected government signaled support for opening up the online gambling industry and reducing federal restrictions.

More legal breakthroughs expected in 2021 would become a huge momentum driver in the online gambling industry. Players like Bragg Gaming Group, MGM Resorts International, Wynn Resorts, Flutter Entertainment, and Caesars Entertainment are seeing new opportunities to increase their online footprint into major gaming markets in Europe, North America, and APAC markets that could mean big things in 2021 and beyond.

This also means that online gambling markets worldwide would garner significant traction. According to Market Research Future (MRFR), the global online gambling market size is projected to grow at a 13.2% CAGR during the forecast period (2019–2025).  The market was valued at USD 117.99 billion in 2018. Besides, advances in connectivity and other related technologies are expected to foster the global online gambling market size.

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COVID-19 Impact
The COVID-19 outbreak has positively impacted the already booming online gambling market, increasing public interest in online gaming by almost 52%. The pandemic and subsequent lockdowns worldwide allowed people with more free time to involve in gaming and leisure activities.

Besides, safe distancing mandates are increasing the uptake of online gambling, allowing access to all the games, slots, and sport betting facilities from home comfort. With the increased uses of various cloud gaming services, the online gambling market share is witnessing a constant uptick over the past few months.

Also, increasing investments are seen by the service providers to foster R&D activities to allow slot developers and online casino sites to exploit the online gambling market opportunities, making entertaining gambling programs & games from side project to the next global sensation.

Industry Trends:
Rapid developments in Internet technologies and mobile apps are projected to increase the online gambling market size, registering a significant growth in terms of revenues and the amount of time users spend on such gambling activities. Online poker and casinos are some of the widely played games in the overall online gambling market. With the improving Internet connectivity, online gambling platforms enable gamblers to play with anyone at a time.

Online gambling platforms offer various benefits compared to traditional gambling, such as support with numerous languages and multiple currencies depending upon the gambler’s location. Also, the online gambling platforms use real money, and they’re not required to exchange chips for money, the key feature that is not available in traditional casino games. These are some of the factors significantly boosting the online gambling market growth.

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On the other hand, regulatory norms such as The Information Technology Act in India that have certain provisions to ban foreign websites in the country restrict online gambling market growth. Also, in some countries, the governments have invoked the ban on playing on certain foreign betting sites, which can pose challenges to the growth of the online gambling market.

Segmentation:
The online gambling market is segmented into game type, device type, end users, and regions. The game type segment is sub-segmented into betting, casino, poker, lottery, online bingo, and others. The device type segment is sub-segmented into desktop and mobile. The end-user segment is sub-segmented into gambling enthusiasts, social exuberant, and dabbles.

Regional Segmentation:
By region, the market is bifurcated into the Americas (US, Canada, Mexico, Rest-of-North America) and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), and Rest-of-the-World.

Europe is projected to dominate the global online gambling market. The presence of a large number of online gambling service providers that offer secured gambling platforms, such as Kindred Group PLC, Bet365, and 888 Holdings, drives the growth of the market in the region.

Besides, increased demand for online gambling services and improved Internet connectivity with high reliability in this region boost the market growth. Furthermore, advanced technologies and favorable government rules and regulations across various countries influence the region’s online gambling market share.

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North America is expected to acquire the second position in the global online gambling market. The market rise is predicted to be driven by the rising numbers of gamblers, and gambling platforms in the region contribute to the regional market growth. Current regulatory reforms in the United States are projected to create vast opportunities for new and established companies across the US gaming industry to move into the online space and serve a wider market of customers.

The Asia Pacific region is anticipated to emerge as a profitable market for online gambling globally. Increasing focus on improving internet connectivity and high R&D investment are the major factors projected to influence market growth in the region. Furthermore, technical expertise and the proliferation of smartphones foster the growth of the market. Online gambling platforms in emerging countries such as Indian and China are likely to boost the region’s market share during the assessment period.

Competitive Analysis:
The online gambling market is expected to witness significant product launches and implementations of several strategic approaches, such as expansion, collaboration, mergers & acquisitions, and product launches. Mature industry players are making strategic investments in research and development activities and fostering their expansion plans.

For instance, recently, on Jan. 29, 2021, FOX Bet, along with Pokerstars and Stars Casino, launched its sports betting and online gambling products in Michigan following a major sports-betting app that was approved in the state earlier in January 2021.

In another instance, an online gambling company – Golden Nugget Online Gaming (GNOG), in December 2020, announced the launch of services in New Jersey and is poised for additional expansion with significant investments.

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Key players involved in the online gambling market are:

  • The Stars Group (Canada)
  • International Game Technology PLC (US)
  • Betsson AB (Sweden)
  • Net Entertainment (Sweden)
  • Kindred Group Plc (Malta)
  • Paddy Power Betfair PLC (Ireland)
  • Ladbrokes Betting & Gaming Ltd. (UK)
  • 888 Holdings PLC (UK)
  • Bet-at-home.com (UK)
  • Betfair Group plc. (UK)
  • Bwin. Party Digital Entertainment (Austria)
  • William Hill Plc (UK)
  • bet365 (UK)
  • Scientific Games (US)
  • VGC Holdings PLC (Isle of Man)
  • Betway (Europe)
  • Spin Inc. (US)
  • Royal Panda (Europe)
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SIS and Premier Greyhound Racing reveal improved greyhound race time schedule

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Sports Information Services (SIS), the leading multi-content supplier of 24/7 live betting services, and Premier Greyhound Racing (PGR), the media rights company supplier of greyhound racing to the betting industry and direct to viewers, have collaborated to offer a revised race time schedule starting from 20 May.

Designed to protect the long-term future of UK greyhound racing, the new schedule will see morning fixtures start slightly later – moving from 10.47 to 11.01 and 10.54 to 11.09. Additionally, there will also be a slightly later start time for some evening fixtures aimed at a retail audience, with the first evening fixture now starting at 18.08.

Commenting on the improved schedule, Terry Mahoney, Head of Business Development at ARC, said: “The new race times will help make it easier for customers to navigate busy racing schedules as well as improving operations trackside. We will continue to listen, monitor, and adapt schedules where and when needed as we move forward to deliver the best service possible for betting operators as well as punters.”

Paul Witten, Managing Director at SIS, added: “We are passionate about delivering a greyhound racing service that benefits all of the sport’s stakeholders. Together with Premier Greyhound Raxing, we have introduced a revised racing schedule that benefits operators and their customers.

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“Our approach to greyhound racing is grounded in sustainability and flexibility. This collaboration with fellow service providers allows everyone to enjoy all the high-quality action produced on a daily basis from tracks across the UK and Ireland.”

SIS has long-term agreements in place with bet365, William Hill, Paddy Power and Betfred to deliver its greyhound content across UK and Irish retail and digital channels. SIS also promotes this content across dozens of leading international operators, as well as through SISRacing.tv.

PGR offers greyhound action, cards, video replays, results, news and info on greyhounds.attheraces.com, and regular live broadcasts on Sky Sports Racing. Premier Greyhound Racing is a joint venture between Arena Racing (ARC) and Entain, the global sports betting, gaming and interactive entertainment group. Between them, the two companies own nine of the 20 licensed British greyhound tracks and ARC manage the media rights for five independent tracks.

The post SIS and Premier Greyhound Racing reveal improved greyhound race time schedule appeared first on European Gaming Industry News.

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The Importance of Data Quality Review Checks in the Gaming Industry

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By Lorenzo Nardini, Head of Technical Compliance and Maths Services

In the dynamic world of online gaming, data plays a pivotal role. Databases containing personal and financial information, often referred to as “Safe” databases, serve as the backbone of any gaming platform.

In this short article, I focus on control databases (CDBs) – that is how Safe databases are referred to in the Dutch landscape – and why it is important to ensure their completeness, accuracy, and consistency through continuous data quality review. In any case, the topics here covered apply to most regulated markets.

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Control databases contain critical information related to player accounts, financial transactions, game rules, and security protocols. Essentially, they ensure the smooth functioning of the entire gaming ecosystem. It is no wonder that the Dutch regulator (KSA) enforces specific technical regulations on them and often perform audits on these systems that can result also in fines in cases errors are detected.

Data quality review checks

Data quality review checks play a pivotal role in maintaining the integrity of control databases, ensuring continuous compliance. Here are some key reasons why they are essential:

  1. Accuracy and Consistency: Control databases handle vast amounts of data, including player profiles, game logs, and financial records. Ensuring accurate and consistent data is crucial for fair gameplay, financial transparency, and regulatory compliance.
  2. Player Experience: Imagine a player losing progress due to a database glitch or loss of connectivity. Such incidents can lead to frustration and loss of trust. Data quality checks ensure that the control database is correctly functional, and the information therein contained can be used to handle such incomplete games, enhancing the overall player experience.
  3. Regulatory Compliance: Gaming companies must adhere to strict regulations regarding data privacy, security, and fairness. Regular reviews ensure compliance with industry standards and legal requirements.

Most importantly, regular reviews can help gaming companies reducing the risk of an unsuccessful audit that could typically lead to a fine and negative PR.

Ideally, data quality reviews should be ongoing. Real-time monitoring is crucial for identifying issues promptly. Additionally, scheduled audits—monthly or quarterly—help catch any long-term discrepancies or trends.

Key areas of data quality reviews

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When performing checks on the quality of CDBs, the following are the main areas to consider:

  1. Data Completeness: Ensure that all necessary fields are populated correctly. Missing or incomplete data can lead to errors downstream.
  2. Data Accuracy: Cross-check data against reliable sources. For example, player balances should match financial records.
  3. Data Consistency: Verify consistency across different databases and systems. Inconsistencies can cause confusion and operational inefficiencies.

Starting from the specific Dutch case and then expanding to other markets, here at ComplianceOne Group we have developed a data quality review service using our experience in dealing with this form of analysis. Leveraging feedback obtained directly from regulators, we created a testing procedure that performs the following:

  1. Tests on triggering reports from staging environment. We access the client’s staging environment with test accounts and perform actions that are aimed at triggering specific reports in the control database. We then check that these have been correctly generated and that they contain all necessary information, checking their accuracy against the back-office.
  2. Data quality tests on production environment. We download a large number of reports directly from production and run a battery of tests that we have designed and that is tailored specifically at checking completeness and consistency of the information contained in the control database.

All findings are promptly reported to the client and, if needed, we can assist with solving any issues found.

Conclusion

When I started being exposed to control databases, I understood that for many this is a very technical area and that maintaining this environment functioning correctly can be quite cumbersome. Nevertheless, a commitment to data quality is a necessary for ensuring continuous compliance of gaming platforms. If you are interested in running regular data quality reviews, or even just a one-time overall check, contact me and I will be happy to assist!

 

The post The Importance of Data Quality Review Checks in the Gaming Industry appeared first on European Gaming Industry News.

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7777 gaming signs a strategic iLottery content deal with Scientific Games

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7777 gaming, a leading provider of digital gaming solutions, has announced a significant strategic partnership with Scientific Games a global leader in retail and digital lottery games, technology, analytics and services, to deliver digital lottery games through the SG Content Hub Partner Program.

The SG Content Hub Partner Program is a unique platform and game content partnership program featuring an expanding, highly curated selection of iLottery games from best-in-class, game studios worldwide in a variety of play styles appealing to all player types in multiple languages, as well as access to select licensed properties from the largest licensed brands portfolio in the lottery industry. Scientific Games currently serves 150 lotteries in 50 countries.

 

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Elena Shaterova, Chief Commercial Officer at 7777 gaming, expressed enthusiasm about the partnership: “Partnering with Scientific Games represents a significant milestone for 7777 gaming, solidifying our position as a global leader in digital lottery solutions. Through this collaboration, we are poised to deliver unparalleled gaming experiences to players worldwide, driving innovation and growth in the lottery industry.”

 

Steve Hickson, VP of Digital Games at Scientific Games commented: “We are delighted to welcome yet another top-class lottery game studio to the SG Content Hub Partner Program. The addition of 7777 gaming and their fantastic games aligns perfectly with our goal to make a variety of digital lottery content available to existing and new Scientific Games customers. Our SG Content Hub Partner Program is developing at pace as we continue to provide our customers with frictionless access to the very best content in the industry.”

The SG Content Hub Partner Program offers a one-stop solution for accessing multiple iLottery game studios, seamlessly integrating with a lottery’s existing gaming systems and iLottery technology. It streamlines operations, simplifies tech integrations, and enhances data analytics to drive game development and iLottery portfolio management.

7777 gaming is renowned for its ability to deliver high-quality iLottery games tailored to the unique requirements of different lotteries. The company ensures that its game content meets stringent government regulations and operators’ expectations for customization. With custom-made lottery concepts, 7777 gaming guarantees enhanced player satisfaction and fosters a deeper sense of connection and loyalty to the brand.

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The post 7777 gaming signs a strategic iLottery content deal with Scientific Games appeared first on European Gaming Industry News.

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