Global Online Gambling Market Size Expected To Reach $127 Billion By 2027

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Sep 22, 2021, 08:45 ET

PALM BEACH, Fla., Sept. 22, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - The Global Online Gambling Market is projected to continue to grow over the next several years. Increasing adoption of smartphones and easy access to casino gaming platforms are currently driving the market. Factors such as increasing internet penetration and availability of cost-effective mobile applications for betting are also expected to contribute to market growth over the forecast period. According to the American Gaming Association (AGA), as of 2018, approximately 2,800 sites are active online and offer activities including bingo, poker, and lottery. According to a report from Grand View Research, the global online gambling market size is expected to reach USD 127.3 billion by 2027, registering a CAGR of 11.5% from 2020 to 2027. The report said that the market is expected to gain traction over the forecast period. Growing popularity of betting across the globe and freemium model in online gambling are among the potential opportunities likely to unfold in the next few years. Some of the highlights of the report were that: "The ease of sports betting using a computer or smartphone coupled with the proliferation of sports betting ads across the globe is expected to propel segment growth over the forecast period… A large number of customers are using desktops for betting as downloading and installing casino software proves to be easier on desktops. This, in turn, is expected to propel the growth of the desktop segment." Active Companies in the markets today include Winners, Inc. (OTCPK: WNRS), Engine Media Holdings, Inc. (NASDAQ: GAME), DraftKings Inc. (NASDAQ: DKNG), Elys Game Technology, Corp. (NASDAQ: ELYS), SharpLink Gaming Ltd. (NASDAQ: SBET).

Grand View Research added: "Europe is expected to continue its dominance over the forecast period. In U.K., online gambling is legalized owing to safe practices and stringent regulations laid down by the government… Asia Pacific is anticipated to register the highest growth rate owing to the increased adoption of smartphones, larger proportion of younger population, and legalization of online gambling in the region. The market size is largely influenced by the size of betting and pertinent outcome. Electronic Gambling Devices (EGDs) are inexpensive to run and easily available. These devices have an in-built software that mimics the experience of a local casino. For instance, a Video Lottery Terminal (VLT) uses advancing technology and can also be customized to electronic slot machines, spinning reel slot machines, video slot machines, and electronic poker games."

Winners, Inc. (OTCPK: WNRS) BREAKING NEWS: Winners, Inc. Subsidiary VegasWINNERS Launches State of Art Sports Gaming Advice and Information Website to Coincide with Football Season 2021 - Featuring Elite Lineup of Sports Betting Experts with more than 21 Professional Handicappers - Winners, Inc. (OTCPK: WNRS) subsidiary VegasWINNERS Inc., which provides sports betting enthusiasts with high quality content, analysis, research, data, guidance and professional advice, unveiled today the company's new website, www.vegaswinners.com.

The website now features new functionality and expert advice from an unparalleled lineup of over 21 professional handicappers. The site was built to keep up with the explosive growth of the online sports betting industry and has been designed using feedback directly from both amateur and serious professional sports bettors.

Wayne Allyn Root, VegasWINNERS CEO stated, "Sports gambling revenues are exploding and setting records every month. Over half the states in America now have legalized sports gambling, with many more to come. But all these millions of new amateur sports bettors need quality research, analysis, information, stats and winning point spread advice. That's what we provide. We do the homework for sports bettors. 45 million Americans say they will bet on the NFL this season. That's our audience. This site was designed for them."

The new website features weekly Krush House video content co-hosted by Frank Nicotero, former NFL quarterback, ESPN NFL analyst Sean Salisbury and Wayne Allyn Root who is known as "The King of Vegas sports gambling" and "America's oddsmaker". It also includes daily sports handicapping selections from the expert handicappers and showcases categories such as: The Best Picks, Free Picks, Yesterday Results, The Leader Board and more.

"We are so excited to offer the revamped website to all our sports fans and there are both premium and free sections. We're partnered with bookmakers and registered in states that sports betting is legal. Now betting on your favorite game has never been made easier," said Root.

Some of the handicappers who will provide their expertise include TV and radio veterans Larry Ness, Chip Chirimbes, Al McMordie, and Ross Benjamin.

Chip Chirimbes, VegasWinners Handicapper stated "We've been picking games for over 20 years and have been right more time than we've been wrong when it comes to picking the winner. There has been such an explosion in online sports betting and sports fans now more than ever need our guidance and VegasWINNERS makes it's really simple to find all the best information all in one place."

VegasWINNERS is celebrating the launch of its new website by providing coupons to first-time registrants, and substantial discounts on long-term subscriptions. More information is available on www.vegaswinners.com. Recently, VegasWINNERS announced a new loyalty rewards and cryptocurrency launchthat includes a points system and cryptocurrency redemption marketplace. Points are earned based upon interaction on the VegasWINNERS and Krush House websites, or other websites based upon predefined actions and rewards. They can then be converted to Krush Coin, a tokenized currency using the blockchain network. CONTINUED… Read this full release for Winners, Inc. at: https://www.financialnewsmedia.com/news-wnrs/

Other recent developments in the markets of note include:

Engine Media Holdings, Inc. (NASDAQ: GAME), an esports/sports gaming and next-generation media solutions company, recently announced that its wholly owned subsidiary, WinView Games ("WinView") has entered into a partnership with 680 The Fan, Atlanta's preeminent sports radio station, to elevate listener engagement with live games of skill that test the audience's sports IQ for cash or fun. The partnership consists of exclusive WinView contests and promotions that are synchronized to 680 The Fan's broadcast and website. These contests will allow people to play along while they listen or watch a game, which will span Braves, Hawks, Falcons, Bulldogs, and Yellow Jackets games. These games will be produced in both live and pregame modes, which will allow users to constantly engage with the events.

This partnership illustrates Engine's unique position in the skills-based gaming market and its ability to combine media solutions with social gaming experiences to create truly one-of-a-kind experiences. 680 The Fan has worked with Engine's wholly-owned subsidiary, Frankly Media ("Frankly"), to develop and manage its digital sports destination, including leveraging its live streaming audio and video platform. WinView's newly announced partnership with 680 The Fan is a perfect compliment.

DraftKings Inc. (NASDAQ: DKNG) recently announced the launch of DraftKings' online Sportsbook in Arizona, marking the 14^th state in which the top-rated mobile sportsbook is available. Arizona sports fans age 21 and over are now able to place wagers on a variety of betting markets across professional, collegiate and other sports leagues via the DraftKings Sportsbook app. The announcement comes following a successful launch of DraftKings' daily fantasy product which experienced more than 90,000 contest entries in the first 12 days.

"With the launch of our digital sportsbook coinciding with NFL kickoff, the busiest and most exciting time of the year for our company, we could not have imagined a better time to introduce Arizona's sports fans to the DraftKings experience," said Matt Kalish, co-founder and president of DraftKings North America. "We would also like to thank the PGA TOUR, TPC Scottsdale, as well as Governor Doug Ducey and his team, Representative Jeff Weninger, Senator T.J. Shope, the Arizona state legislature, and the Arizona Department of Gaming for working together to further fan engagement across sports. We look forward to becoming the sportsbook of choice for Arizonans across the state."

Elys Game Technology, Corp. (NASDAQ: ELYS), an interactive gaming and sports betting technology company, and Grand Central LLC ("Grand Central"), an independently owned operator of the Grand Central Restaurant & Bar located in the Adams Morgan area of Washington, D.C., recently announced the grant by the District of Columbia's Office of Lottery and Gaming (OLG) of a Class B Operator license to Grand Central to operate a sportsbook within the Grand Central Restaurant & Bar and of a provisional Class B Standard Management Services Provider License to the Company in conjunction with management services to be provided to Grand Central.

The Grand Central venue will offer sports betting alongside food and beverages providing a unique customer experience and is believed to be the first sportsbook of its kind to be operated within an independently owned business establishment in the U.S. The Class B license allows a full-service sportsbook with no restrictions on maximum bets to be wagered and where all winnings can be redeemed on-site. Elys will provide Grand Central with the turn-key retail betting solution on POS and kiosk hardware as well as managed services to operate the sportsbook, including back-office and business intelligence, odds and event offerings, risk management and trading services, while both Elys and Grand Central will collaborate on customer-engagement campaigns, marketing, and any co-branding ventures. To allow sufficient time for staff training and hardware installation, it is expected that wagering on sports will be offered at Grand Central in or around October 2021 with the on-premise mobile app to be launched in 2022.

SharpLink Gaming Ltd. (NASDAQ: SBET), a pioneer of game-changing technological solutions and experience-based services for the U.S. online sports betting industry, recently announced that the Company is teaming with NBC Sports to launch a new, interactive, free-to-play online game for the 43^rd Ryder Cup to be held at Whistling Straits in Kohler, Wisconsin from September 24-26, 2021. Established in 1927, the Ryder Cup is a major golf competition that occurs every two years and pits 24 of the world's best golfers comprising Team USA and Team Europe in a head-to-head match play competition.

The Ryder Cup Fantasy online game will be available on RyderCuo.com and the official Ryder Cup mobile apps for iOS and Android, providing golf fans in the U.S. and Europe with a fun, even more immersive Ryder Cup experience. Fans will be challenged to choose six golfers from either the U.S. or European teams and earn points the same way the professional golfers will earn points in the Ryder Cup matches. For instance, if a fan's golfer is part of a winning match/pair, one point is awarded; or if there is tie, the fan earns a half point. The goal is to earn as many fantasy points, as possible. Players will be competing for an ultimate prize pack filled with Ryder Cup gear.

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