Canada

Casino Market to Touch USD 480 Million at 7% CAGR by 2026 – Report by Market Research Future (MRFR)

Published

3 years ago

August 18, 2021

According to a comprehensive research report by Market Research Future (MRFR), “Global Casino Market information by Type and Region – forecast to 2027” the market size is anticipated to reach USD 480 million with CAGR of 7% by 2026.

Casino Market Scope:

A casino, simply put, is a room or building where people play gambling games like slot machines, roulette, poker, lottery, craps, and blackjack, among others.

Dominant Key Players on Casino Market Covered Are:

Addison Global Limited (UK)
Creatiosoft (India)
Chetu, Inc. (US)
Evolution Gaming (Latvia)
Microgaming (Isle of Man)
NetEnt AB (Sweden)
Kindred Group PLC (UK)
Betsson AB (Sweden)
Betsoft (Malta)
Playson (Malta)
Elaunch Solution Pvt. Ltd (India)
Ladbrokes (UK)
Scientific Games (US)
The 888 Group (Europort)
Paddy Power Betfair PLC (Ireland)

Market Drivers:
Attractive Features that Bolster Market Growth
According to the MRFR report, there are numerous factors that are propelling the global casino market growth. Some of these entail increasing gaming licenses, boost to tourism it offers to domestic economies, increasing investments in developed economies, customers’ increasing affluent lifestyle, high internet penetration, increasing use of mobile phones to play online games from public places and homes, easy access to online gambling, cultural approval and legalization, celebrity endorsements and corporate sponsorships, and the growing accessibility of cost-effective mobile applications. The additional factors adding market growth include changing lifestyle, demand for leisure time, increase in tourism, rising standard of living, customer’s growing spending capability, rising commercialization and urbanization, rapid growth in technology, change in consumer’s offline casino preference, blockchain based online casinos, and VR based gaming.

On the contrary, cyberattacks during online gaming, security and authentication related issues and legal hurdles are factors that may limit the global casino market growth over the forecast period.

Segmentation of Market Covered in the Research:
The MRFR report highlights on an inclusive analysis of the global casino market based on type.
By type, the global casino market is segmented into slot machines, roulette, poker, lottery, craps, and blackjack. Of these, the lottery segment will command the largest share in the market over the forecast period as more people buy online and offline lottery tickets. In casinos, the integration of video lottery terminal is increasing participation among customers and drive revenues which in turn is adding to the segmental growth.

Regional Analysis
APAC to Have Lions Share in Casino Market
Geographically, the global casino market is bifurcated into Europe, the Asia Pacific (APAC), the Middle East and Africa (MEA), North America, and Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. Investments by overseas gambling companies, the large appetite of online gamblers, approval of licenses in certain states, large potential in China and India, demand for blockchain based online casinos, and the popularity of cricket betting are adding to the global casino market growth over the forecast period. The additional factors adding market growth include the increasing use of internet services, relaxation of regulations pertaining to online casinos, high economic growth, and increased spending on leisure activities.

North America to Have Healthy Growth in Casino Market
In North America, the global casino market is predicted to have healthy growth over the forecast period. Approval of online gambling, legalization of sports betting, rise in female customers, convenience of cashless modes of payment, push for legal betting in the US, and increasing use of cryptocurrencies are adding to the global casino market growth in the region.

Europe to Have Notable Growth in Casino Market
The global casino market in Europe is predicted to have notable growth over the forecast period. Legalization of casinos in Italy, Malta, Spain, Germany, and France, growing popularity of online casinos, the availability of high-speed internet, and rising use of smartphones are adding to the global casino market growth in the region.
In RoW, the global casino market is predicted to have sound growth over the forecast period.

COVID-19 Impact on the Global Casino Market
The deadly COVID-19 outbreak has brought all operations and activities in casinos to a standstill. They were opened after implementing the use of sanitizers and masks and social distancing measures to curb the spread of the virus. Social distancing points between slot machines and non-invasive tests at entry points are likely to drive customers and also ensure their safety. On the contrary, the crisis has restricted construction projects and renovation projects with the biggest casinos halting their plans.

Entertainment options are restricted yet are being offered at much selected venues. California’s Fantasy Spring Resort offers music on Sundays by Latin artists during the outbreak. The dining services provided at these venues with food being served at the customers’ tables and buffets being scrapped. Yet the impact of cardrooms can impact the profit margins of casinos at this period.

The pandemic on the other hand is favorably impacting the online casino market. To curtail the spread of the virus, countries across the world have imposed tight restrictions and promoted social distancing. Stringent restrictions on the movement of the people had a noteworthy impact on casino operations that are land-based. As a result most players have shifted focus to online casinos due to land-based gambling lockdown.

Industry Updates
Esports Technologies has joined hands with Spinomenal, a leading casino games provider. The game provider agreement will enable Esports Technologies in offering casino games with the high opportunity of winning real money on Gogawi.com, its international direct-to-consumer platform. The expanded offerings will allow sports bettors as well as esports in placing wagers on both casino games as well as leading esports matches and tournaments on just any device, on the go or at home.

AGCO

AGCO Requires Ontario Gaming Operators to Stop Offering WBA Bets Due to Integrity Concerns

Published

2 days ago

April 22, 2024

GamingAmericas.com

agco-requires-ontario-gaming-operators-to-stop-offering-wba-bets-due-to-integrity-concerns

The Alcohol and Gaming Commission of Ontario (AGCO) has mandated all Ontario-registered sportsbook operators to halt offering and accepting wagers on World Boxing Association (WBA) events immediately. This measure is being taken to protect the Ontario betting public following concerns that WBA-sanctioned boxing matches are not adequately being safeguarded against match-fixing and insider betting.

Since December 2023, the AGCO has been conducting a comprehensive review of suspicious wagering activity on a WBA-sanctioned title fight between Yoenis Tellez and Livan Navarro that was held in Orlando, Florida. Suspicious betting patterns on the bout lasting over 5.5 rounds were reported to the AGCO by two registered independent integrity monitors and detected in Ontario by a registered igaming operator. Media reports also alleged that Tellez’s Manager placed $110,000 on the match lasting longer than 5.5 rounds at a Florida casino. The bout ended with Tellez knocking out Navarro in the 10th round.

Following an intensive review that included outreach to the WBA, Ontario-registered gaming operators, independent integrity monitors, and regulators in other jurisdictions, the AGCO has concluded that bets related to WBA events do not currently meet the Registrar’s Standards for Internet Gaming.

The AGCO requires all Ontario-registered gaming operators to ensure the sport betting products they offer are on events that are effectively supervised by a sport governing body. At a minimum, the sport governing body must have and enforce codes of conduct that prohibit betting by insiders.

Registered gaming operators were unable to demonstrate to the AGCO that the WBA prohibits betting from insiders, which could include an athlete’s coaches, managers, handlers, athletic trainers, medical professionals, or others with access to non-public information. Further, registered gaming operators were unable to demonstrate that the WBA took any action to investigate or enforce the allegations of potential match-fixing and insider wagering.

The AGCO has indicated to registered operators that in order for WBA betting products to be reinstated in Ontario, operators must demonstrate that the WBA effectively supervises its events, thus bringing them into compliance with the Registrar’s Standards. In December 2022, the AGCO required gaming operators to stop offering bets on UFC events for similar issues related to insider betting safeguards. Within a month, UFC amended its policies and implemented new protocols that allowed the AGCO to reinstate betting on UFC events in the province.

“Ontarians who wish to bet on sporting events need to be confident that those events are fairly run, and that clear integrity safeguards are in place and enforced by an effective sport governing body. Knowing the popularity of boxing in Ontario, we look forward to reinstating betting on WBA events once appropriate safeguards against possible match-fixing and insider betting have been confirmed,” Dr. Karin Schnarr, Registrar and CEO of AGCO, said.

Andrew Cochrane Chief Business Officer of GiG

GiG increases Ontario market presence, powering the launch of Casino Time

Published

6 days ago

April 18, 2024

GamingAmericas.com

gig-increases-ontario-market-presence,-powering-the-launch-of-casino-time

Gaming Innovation Group Inc. (GiG), has announced the launch of Casino Time, powered by its award winning iGaming platform and pioneering real-time rules engine LogicX, with revolutionary sportsbook, SportX soon to follow, to further extend its footprint in the regulated Canadian province of Ontario.

The launch of Casino Time carries extra significance, marking only the second time that on-demand, regulated online Bingo has been made available in Ontario. The new Bingo product vertical, launched alongside a strong Casino offering, will be boosted by GiG’s new sportsbook, SportX, as part of a planned release later this year.

GiG has focused its solutions on driving exponential growth in revenue for operators with its highly scalable iGaming platform, offering localised third party content and leading suppliers for the Ontarian market. GiGs peerless gamification layer creates an optimised and immersive casino experience tailored to regional preferences, swelling client retention and player engagement.

Canadian owned and operated, Casino Time is a joint venture amongst leading retail operators in Ontario’s Charitable Gaming sector, delivering Bingo, Slots and Live Dealer Casino Games. Promising a personalised service and community experience, Casino Time is continuing its long-standing partnership with local charities, introducing its joint fundraising model into the iGaming space for the first time.

Now coming towards the end of its second year of licensed operations, Ontario has emerged as one of the largest iGaming markets in North America, second only to New Jersey according to data supplied by Vixio. The first and as yet only Canadian province to launch a regulated market, Ontario boasts more than 1.6 million active player accounts spread over 40 plus operators, generating €1.3 billion in Gross Gaming Revenue (GGR) in its first year of trading, with this data supplied by iGaming Ontario.

Andrew Cochrane, Chief Business Officer of GiG, said: “GiG continues to set the pace with a strong cadence of brand launches in 2024, and I’m pleased that when operators are seeking platform solutions in regulated markets, GiG is leading the pack. Our partnership with Casino Time, will help deliver something new and exciting to the Ontarian market, and further helps to demonstrate the flexibility of our solutions, adapting to match the regional aspirations of our partners to deliver growth.”

D’Arcy Stuart, CEO of Casino Time, said: “We are thrilled to partner with GiG as the core technology provider of our iGaming platform. Their powerful suite of player engagement tools, as well as diverse content and regulatory integrations, underpin our ability to serve and delight our player community. Our hybrid online and offline customer network, as well as unique bingo offerings, will drive exciting opportunities as the platform and the marketplace continues to grow.”

Canada

Glitnor Group expands IBIA’s betting integrity presence in Ontario

Published

2 weeks ago

April 10, 2024

Adrienn Sarkany

glitnor-group-expands-ibia’s-betting-integrity-presence-in-ontario

Reading Time: 2 minutes

Glitnor Group, operating under the LCKY Group in Ontario, has joined the International Betting Integrity Association (IBIA). Glitnor Group’s luckycasino.ca brand sportsbook will feed into IBIA’s world leading betting integrity monitoring platform. The operator joins over 50 companies and 125 leading sports betting brands in IBIA and further cements the association’s position as the leading sports betting integrity monitoring body in Ontario and globally.

David Schwieler LCKY Group CEO, said: “At Glitnor Group, we’re dead serious about keeping our betting games fair and square. That’s why teaming up with IBIA is a big deal for us. We know how crucial it is to protect the spirit of sports, and we’re ready to roll up our sleeves and work closely with the IBIA to make sure sports betting stays exciting, speedy, and above all, fair.”

Khalid Ali, CEO of IBIA, said: “I am delighted to welcome Glitnor Group as IBIA’s latest member in Ontario. Glitnor and IBIA share a common goal to maintain the integrity of the sports betting marketplace and to protecting consumers and sports from match-fixing. Ensuring product integrity is paramount to our approach and we look forward to integrating Glitnor within our leading global sports betting integrity monitoring system.”

IBIA is a not-for-profit body that has no competing conflicts with the delivery of commercial services to other sectors and is run by operators for operators to protect regulated sports betting markets from match-fixing. IBIA’s global monitoring network is a highly effective anti-corruption tool, detecting and reporting suspicious activity in regulated betting markets.

Through the IBIA global monitoring network it is possible to track transactional activities linked to individual customer accounts. IBIA members have over $300bn per annum in betting turnover (handle), accounting for approximately 50% of the global commercial regulated land-based and online sports betting sector, and in excess of 50% for online alone.

IBIA recently released a report on the Availability of Sports Betting Products which highlighted Ontario as a leading regulated gambling jurisdiction, with an expected onshore channelisation for sports betting of 92% in 2024 forecast to rise to 97% in 2028. IBIA currently represents over 60% of the private sports betting operators licensed in the province. All online sports betting operators licensed in Ontario are required to be part of a betting integrity monitoring body.

IBIA’s 2023 annual integrity report detailed 184 alerts reported in the year, which represents a decrease of 101 (or 35%) on the revised 2022 figure of 285 alerts. IBIA alerts contributed to the investigations and subsequent successful sanctioning of 21 clubs, players and officials in 2023, an increase on the 15 sanctioned in 2022.

The post Glitnor Group expands IBIA’s betting integrity presence in Ontario appeared first on European Gaming Industry News.