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Mobile Gambling Market 2018: Historical Analysis, Opportunities, Latest Innovations, Top Players Forecast 2023
The global online gambling market is expected to grow in the future with increasing smartphone users, rising demand for the internet of things and growth of the mobile gaming.
Mobile gambling offers players an opportunity to gamble at any time and anywhere. The major advantage of the mobile platform is that it attracts many casual gamers, who have no experience of any form of gambling. With the rapid technological advancement in the mobile devices, gambling has become a more immersive and personal experience.
The mobile revolution in sports and casino has offered new platforms to players driving a new technological shift, which changed everything in the industry. For instance, in the recent years, users have been able to notice a growing preference for new gaming experiences conveyed by live sports and live casino environments. For gamblers and players alike, the possibility to have immediate access to the favorite game and obtain instant satisfaction from betting session changed the way operators and software providers approach the mobile gambling market.
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The global online gambling market is expected to grow in the future with increasing smartphone users, rising demand for the internet of things and growth of the mobile gaming. Key trends in this market include growing number of online women gamblers, changing consumer gambling habits, use of alternative cash options, market consolidation, and technological advancement. However, there are some factors, which can hinder the growth of the market including stringent regulations, security issues, and high tax rates.
Europe is the main contributor to the Mobile Gambling Market with increasing disposable income and mobile use. The British mobile betting industry is likely to experience substantial changes in the coming five years due to growth in the mobile betting and gaming, current government plans to introduce a new approach to taxation and industry regulation.
The Asia Pacific has great potential in the years ahead with new technologies and increasing accessibility of the internet. Additionally, easing government regulations would help in fuelling the market growth for online gambling in this region.
Though the U.S. is portrayed to be the hub for gambling world because of the presence of popular gambling hotspots such as Las Vegas and Atlantic City, the country follows some of the most stringent federal laws in the world.
In 2006, the U.S. Federal government passed the Unlawful Internet Gambling and Enforcement Act, which outlawed all forms of online gambling. However, in 2012, a new law was passed that allowed individual states to license online and mobile casinos and sportsbooks and poker sites within their borders. As of 2015, only three states in the country namely Delaware, Nevada, and New Jersey allow online gambling. However, with the Federal government easing laws, more than five states in the U.S. are likely to legalize the online gambling by 2020.
Las Vegas-based Boyd Gaming Corporation announced that it has reached a deal to acquire Valley Forge Casino Resort in King of Prussia, Pennsylvania as online gambling. The acquisition of Valley Forge Casino Resort is another excellent opportunity to grow further and diversify the nationwide portfolio of Boyd Gaming. With this acquisition, Boyd will expand into the second-largest gaming state in the country, establishing a presence in a densely populated, high-traffic area just west of Philadelphia.
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Some of the key players in the market are Betsson AB (Sweden), Kindred Group Plc (Malta), Net Entertainment (Sweden), and Paddy Power Betfair Plc.(Ireland), 888 Holdings PLC (U.K), Ladbrokes Betting & Gaming Ltd. (U.K), Bet-at-home.com (U.K), Bwin.Party Digital Entertainment (Austria), Betfair Group plc.(U.K), Kindred Group (U.K), William Hill Plc (U.K) among others.
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