Online Gambling Market Europe

Earlier this year, experts made numerous predictions on the future of the gambling industry. Life, however, since stepped in and had its say, and the COVID-19 pandemic introduced itself to the world in the spring of 2020.

The differences between the European and Asian gambling markets - EU Today. Politics; Business & Economy. Renew Europe calls for a peaceful and constitutional. The global sports betting sector occupies the major market share in the overall online gambling industry accounting for more than 40% of the worldwide gambling revenue generation. According to the Technavio’s market analysts, the sports betting market will grow at an impressive CAGR, with the global sports betting market revenue expected to.

And now, forced quarantines continue to severely affect the income of casinos and sports bookmakers.

In any negative scenario, however, it is important to look for a silver lining. And we have already seen that the pandemic has created increased demand in some industries. The gambling industry, for example, is one that has seen more popularity than ever before. Even before the pandemic, there has been opportunities for recent developments in the online gambling industry to gain more exposure. One example of these developments has been live casino games, with live croupiers dealing and spinning the action from a real-world casino streamed directly to your computer.

The Effect of COVID-19 on the Online Gambling Scene

When the pandemic shook the world in March of this year, and numerous sporting events were cancelled, the online gambling industry began to see a change, i.e., a trend had occurred in that there was a rising statistic in new online casino players every week. This was brought about by the fact that sports betting fans had fewer events to bet on.

UK Online Casinos Leading the Charge

The UK has seen a paradigm shift, with the crossover from offline to online gambling given a huge boost to popular UK gawking sites. While many were enjoying gambling on their mobile devices, many who were stuck at home during the pandemic turned to their laptops and desktops. With no sign of the pandemic ending soon, we will likely see a greater number of gamblers satisfying their craving for casinos online.

Reports from UK Gambling Commission

Reports from the United Kingdom Gambling Commission (UKGC) verified a significant increase in those playing online. These reports claim a 25 per cent increase in people playing slots and a 38 per cent increase in poker playing. These numbers are for the first two months of COVID-19.

Online Migration at Peak

Of course, it isn’t just gambling that’s been affected by the pandemic. People are working more at home, and even shopping and socialising more in front of their computer screen. Whether this is a sign of things to come remains to be seen. It will likely ensure, however, that people are more digitally aware and more comfortable interacting with the Internet than ever before.

The Future of Online Gambling in Europe

There is currently a boom in online gambling in Europe. This growth is often associated with “soft” zones, which is essentially a lighter tax regime with operators. These are regions such as the Isle of Man, Malta, and Gibraltar. Not only that, but the EU is also seeing positive development in virtual technologies: e-sports, VR gambling, VR slots, and VR casinos. Business owners in the gambling industry want to serve the contemporary player who do not visit mainstream clubs and casinos but instead prefer to use personal computers or gadgets.

As sports betting came to a partial standstill, bettors were looking for alternative methods to flex their gambling and entertainment muscles. This saw more people playing online slots or table games like poker.

The Final Word

The increased popularity of the online gambling industry and the restrictions on land-based casino activities as a result of the pandemic have led to offline establishments losing their appeal among players. Experts have argued that gambling operators who failed to bother to establish an online version of their products will struggle. Gambling is becoming an increasingly online activity, and that’s just a fact.

Dublin, Nov. 10, 2020 (GLOBE NEWSWIRE) -- The 'Europe Online Gambling Market - Growth, Trends, and Forecast (2020-2025)' report has been added to ResearchAndMarkets.com's offering.
The European online gambling market is projected to grow, witnessing a CAGR of 9.20% during the forecast period (2020-2025).
Growing hardware and software innovations and the rising popularity of casino and sports betting gambling, along with enhanced internet penetration, are expected to drive the growth of the European online gambling market.
The dominating players have been focusing on mergers over the past few years, primarily to increase their stake in the market and to improve profit margins. For instance, Paddy Power PLC and Bet fair PLC merged to form Paddy Power Betfair PLC.
In order to gain a competitive advantage and compete with the established players, companies are developing innovative offerings in the region. For instance, in April 2019, one of the UK's leading casino companies, 888 Holdings, had signed up a new gaming partnership with software maker, Microgaming.
Key Market Trends
Desktop Devices Holding The Major Share
Online gaming started on desktop computers, and many online casinos still focus most of their development on making sure that players get a smooth and well-presented user-interface experience. Desktops and laptops are considered to be the most convenient devices for online gambling owing to their bigger screen size. This factor provides the gamer with the ultimate online gaming experience.
One of the major benefits of using the desktop as an option to play online casino is that the number of mobile casino games on offer is significantly fewer than desktop gaming. Moreover, some of the mobile casino games only offer a few selections of the deposit options as compared to a desktop site. However, rising penetration of smartphones, owing to its convenience, is affecting the growth and demand for the gambling market operated through desktops/laptops.
United Kingdom Leading The Market
Sports betting in the United Kingdom is provided by the private sector and is conducted within a very competitive market. Online gambling is legal and regulated in the country by the Gambling Commission, which was formed by the Gambling Act of 2005. Online poker, sports betting, casino games, bingo, and lottery-style games all fall under the purview of the Gambling Commission.
As per the data published by OfCom (The Office of Communications, United Kingdom) in 2015, 6% of the users aged between 25-34 and 45-54 years engaged themselves in online gambling at least once in every three months. The second highest age group was between 16 and 24 years, which accounted for 4%. Rizk Casino, 888 Holdings, Casumo Casino, bet365, and LeoVegas are some of the prominent players operating in the UK online gambling market.
Competitive Landscape
Bet365, 888 Holdings Plc, GVC Holdings PLC, Kindred Group PLC, William Hill PLC, and Betsson AB are some of the major players having a significant presence across Europe. nMany online gambling companies rely on third-party providers, such as Playtech, for software solutions. However, some companies choose to backward integrate with technology providers.
For instance, 888 poker heavily invested in developing its own software and online gaming technology, primarily not to rely on suppliers. Similarly, William Hill, a bookmaker company located in the United Kingdom, was focused on backward integration, and thus, acquired Grand Parade, a software development company, in 2016.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Game Type
5.1.1 Sports Betting
5.1.1.1 Football
5.1.1.2 Horse Racing
5.1.1.3 E-Sports
5.1.1.4 Other Sports
5.1.2 Casino
5.1.2.1 Live Casino
5.1.2.2 Baccarat
5.1.2.3 Blackjack
5.1.2.4 Poker
5.1.2.5 Slots
5.1.2.6 Other Casino Games
5.1.3 Lottery
5.1.4 Bingo
5.2 By End-use
5.2.1 Desktop
5.2.2 Mobile
5.3 By Geography
6 COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Betsson AB
6.4.2 888 Holdings PLC
6.4.3 The Stars Group Inc.
6.4.4 The Kindered Group
6.4.5 GVC Holdings
6.4.6 William Hill PLC
6.4.7 Bet365 Group Ltd
6.4.8 LeoVegas AB
6.4.9 Flutter Entertainment
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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Online Gambling Market Europe 2020