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Sports Betting Market to Rise at a CAGR of 9.8% during Forecast Period 2022-2031, notes TMR Study

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Transparency Market Research Inc. – In 2021, the value of global sports betting market reached US$ 261.6 Bn. The global market is forecasted to rise at a CAGR of 9.8% during the forecast period, from 2022 to 2031. The global sports betting industry value is estimated to attain value of US$ 653.5 Bn by 2031. It is anticipated that the growing popularity of sports across the globe will propel the market for sports betting. In contrast to football betting, which is extremely prevalent in both North and South America, online cricket betting is growing in popularity in the Asia Pacific.

The proliferation of the internet has raised traffic to some of the top sports betting websites across the globe. In order to draw sports fans to betting, businesses in the industry employ aggressive marketing techniques including risk-free wagering for a set amount of time and sign-up bonuses for new customers. In order to help customers make the best wagers, online sports betting guide is gaining popularity. Such promotional measures are expected to fuel sports betting industry growth in the forthcoming years.

Recent developments in the sports betting market indicate that viewers are becoming more and more interested in watching a variety of sports genres on a global scale. A case in the point is when in the 2021–2022 NBA regular season, ESPN averaged 1,401,000 viewers, a 16% rise from the previous season. As a result, the global sports betting market is expected to expand as more people watch sports.

Sports betting is a form of gambling that involves making predictions about sporting events and placing bets on the outcomes. Sports betting is used on events that aren’t athletic, including elections, reality show contests, and contests involving animals like dog and horse races and also illegal cockfighting.

Key Findings of Market Report

  • The number of people using the internet is rising significantly worldwide. Some of the best sports betting sites is becoming more and more popular with both rural and urban people as internet usage increases. The World Bank estimates that 60% of people used the internet in 2020, up from 54% in 2019. Thus, the value of the sports betting market is increasing as internet usage and smartphone adoption rise.
  • The population of cities has significantly increased as a result of rapid urbanization. The World Bank estimates that 56% of the world’s population lived in cities in 2019, up from 55% in 2018. Urban residents have access to tempting sports betting options. Also anticipated to have a beneficial effect on the global sports betting market is the boost in smartphone penetration.
  • Based on platform, in 2021, the offline market category for sports betting accounted for a sizable sports betting market share. The market category is almost certainly going to maintain its market share in the forthcoming years. In contrast to online sports betting, the majority of individuals still prefer the actual human contact of sports betting kiosks. Dealing with instances of fraud or misbehavior is seen to be better handled physically through personal connection, which is also one of the sports betting industry trends.

Global Sports Betting Market: Growth Drivers

  • In terms of game type, football prevailed in the global market in 2021, with far more money being spent on football betting than any other sports. The LaLiga, Premier League, Bundesliga, and FIFA World Cup all are anticipated to have an increase in popularity throughout the forecast period.
  • In 2021, Europe accounted for the lion’s share—roughly 50%—of the sports betting industry. Rugby, football, tennis, and motor racing are just a few of the top sports in Europe that have sizable, devoted fan bases who actively partake in sports betting. Furthermore, the adoption of strict betting laws and guidelines has considerably decreased fraud in Europe, which is expected to benefit expansion of the Europe sports betting market.

Global Sports Betting Market: Key Players

Some of the key market players are

  • Fortuna Entertainment Group
  • GVC Holding plc.
  • Hong Kong Jockey Club
  • Paddy Power Betfair plc.
  • mybet Holding
  • The Stars Group

Global Sports Betting Market: Segmentation

Platform

  • Online
  • Offline

Game Type

  • Football
  • Baseball
  • Basketball
  • Hockey
  • Cricket
  • Tennis
  • Golf
  • Boxing
  • Horse Racing
  • Auto Racing
  • Others

Consumer Goods Research Reports

Industrial Protective Footwear Market – The global industrial protective footwear market is expected to reach US$ 10.87 Bn by the end of 2031, grow at a CAGR of 4.84% from 2022 to 2031

Winter Sports Equipment Market – The global winter sports equipment market is expected to reach a value of US$ 3602.2 Mn by the end of 2031, expand at a CAGR of 4.1% from 2022 to 2031

Asia Pacific Footwear Market – The Asia Pacific footwear market is expected to surpass the value of US$ 846.9 Bn by the end of 2031, expand at a CAGR of 8.7% from 2021 to 2031

Board Games & Puzzles Market – The global board games & puzzles market is expected to surpass the value of US$ 24.5 Bn by the end of 2031, expand at a CAGR of 7% from 2021 to 2031

Golf Rangefinder Market – The global golf rangefinder market is expected to cross the value of US$ 728.3 Mn by the end of 2031, expand at a CAGR of 7.7% from 2021 to 2031

Helmet Market – The global helmet market is estimated to reach a value of US$ 34.2 Bn by 2030, expand at a CAGR 5.7% during the forecast period

Europe Climbing Gym Market – Europe climbing gym market is expected to reach the value of US$ 2 Bn by 2031, expanding at a CAGR of 9.9% during the forecast period

Sports Protective Equipment Market – The global sports protective equipment market is expected to reach US$ 13.35 Bn by the end of 2031, grow at a CAGR of 5.2% from 2022 to 2031

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FANDOM DECODES THE TUG-OF-WAR FOR FAN ATTENTION BETWEEN GAMING & ENTERTAINMENT COMPANIES IN 2024 INSIDE ENTERTAINMENT STUDY

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Study Identifies a New Target Audience – The “Switchers” – and Why Dramas Could Be the Next Big Gaming Franchise

 

Forget the gaming vs. entertainment narrative. Fandom, the world’s largest fan platform, today released its annual Inside Entertainment study which reveals a nuanced reality: fans crave both immersive gaming worlds AND timeless storytelling across tv and film, NOT one or the other. Leveraging first-party data from Fandom’s extensive platform – 350 million monthly unique visitors, 45 million pages of content and 250k fan-powered wikis – coupled with a global study, Inside Entertainment: The Entertainment & Gaming Tug of War goes beyond industry headlines to:

  • Understand the dynamic coexistence between the gaming and TV/film industries
  • Identify a brand new audience – the “Switchers”
  • Detail why dramas and book adaptations present a huge opportunity to be the next hit video game franchise

“Every industry analysis refers to the battle for fans’ attention across entertainment and gaming but we’ve found that it’s not an either or. In fact, combined, entertainment and gaming experiences strengthen fan connection and deliver incremental engagement,” said Stephanie Fried, CMO of Fandom. “Understanding the interplay between these mediums is key to building authentic and enduring fan experiences; and understanding the value and role of each medium is essential for developing powerful marketing messaging to attract and retain fans.”

Key Findings

  • 67% of fans are spending the same or more time consuming content or playing video games, but their behavior is shifting:
  • 33% are spending less time on cable or in theaters – and the number one activity they’re switching to is gaming (59%

Switchers’ refers to the audience moving away from watching movies & binging TV shows in their free time to do other activities. Outside of gaming, switchers are also spending time:

On social media (47%), reading (56%) and doing hobbies (37%)
With 56% of the switcher audience spending time reading, it presents an opportunity to re-engage this audience and pull them back into the ecosystem with new content strategies, like book-to-game or book-to-film cross over adaptations

But don’t worry entertainment companies. Just as gaming is the #1 activity for entertainment fans, watching TV and movies is the #1 activity gamers turn to when taking a break from gaming – which means these industries are inevitably intertwined and could benefit from joint endeavors or conquest/win-back strategies

Drama could be #1 untapped genre for gaming companies to explore when looking for their next big hit. Our data uncovers that drama fans who also game gravitate towards genres like:

  • Role-Playing (RPG): 73%
  • Adventure: 72%,
  • Simulation: 62%,
  • Sandbox/Open World: 62%,
  • Puzzle: 60%

Gaming wins on super serving the emotional needs of fans, identifying a niche area streamers & studios should not only be aware of – but double down on:

  • 82% of gamers think video games are more interactive & engaging than movies and TV
  • 59% feel more accomplished when playing a video game
  • 53% like that they have more control in the story when playing video games
  • 45% feel more invested in the storylines in video games

Top 3 Takeaways For Advertisers and Marketers

1. Gaming is a Friend vs. a Foe

  • Despite common misconceptions, there is a true symbiotic relationship between the gaming and entertainment industries – they both serve different emotional needs for fans and can actually complement each other – with the right fan strategy.
  • Therefore, if studios, networks and streaming companies cater to the distinct emotional desires of their specific audiences, they can successfully influence a fan’s choice between mediums and content types and build out a more robust conquest strategy for both retention and acquisition.

2. Sway the Switchers

  • Switchers are the audience entertainment companies should be first and foremost targeting in this “tug of war” to capture fan attention, because switching to watching TV & movies is the first activity gamers engage in after they stop playing.
  • This underscores the importance for entertainment companies to develop strategies that resonate with these “switchers.”

3. Find your Niche

  • With the growing intersection between gaming and entertainment, it’s crucial for studios, networks, and streamers to align on a gaming strategy that drives viewer engagement and retention.
  • While many entertainment companies know they need a focus on gaming to drive their business forward – how and where are often barriers. Developing a gaming-specific fan strategy by finding niche pockets in the vast ecosystem – like targeting drama fans or creating book adaptations – is key for reaching a high affinity target at scale.

For an interview with a Fandom executive to discuss the study in more detail, please contact Rachelle Savoia at [email protected]

Methodology

The 2024 Inside Entertainment study regionally analyzes the dynamics between diverse forms of entertainment based on a survey of 5,500 entertainment and gaming fans aged 13-54 These insights were validated and deepened through Fandom’s proprietary, first-party data from 2024 – more than 350 million monthly unique visitors, 45 million pages of content across 250,000 wikis. This methodology provides a 360-degree view of franchises and fan interest across the entertainment and gaming landscape through the eyes of Fandom.

 

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BOLDPLAY TITLES DEBUT ON MARATHONBET

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Over 50 innovative titles have been added to the popular online betting platform’s casino game line-up.

Boldplay, the renowned developer of premium online casino content and innovative casino software solutions, has announced that it has formed a new partnership with Marathonbet that will see its full suite of 100+ titles added to the operator’s casino game line-up, with 50+ of those games available now.

As a result of the deal, games from Boldplay’s state-of-the-art slot selection and range of virtual scratch cards have already been added to Marathonbet’s lobbies, but the provider will also be offering table games, virtual bingo and keno releases on the platform going forward.

Marathonbet is currently licensed by both the government of Curaçao and the Directorate General for Gambling Regulation in Spain, with a further internet gaming concession from the Customs and Monopolies Agency (ADM) also enabling it to provide services to Italian players.

As such, the collaboration will now enable Boldplay to offer its titles to audiences in a wide range of global markets, many of whom will not previously have seen the signature range of Boldplay jackpots and engaging free spin features that have made the provider such a huge hit with fans.

Of the Boldplay games now available on Marathonbet, a standout highlight is the MMA themed Brute Force, which offers a choice of two hard-hitting bonuses and currently ranks as one of the studio’s most successful slots to date.
Speaking on the new partnership with Marathonbet, Boldplay Commercial Director Gary Francis said: “We’re very happy to have teamed up with Marathonbet in a move that will see our cutting edge game collection reach new audiences in a number of important markets around the world.

“With a wide range of Boldplay slots, scratch cards, table games and bingo and keno releases now available on the platform, our line-up already has something for everyone and will continue to get even stronger as we announce new releases in 2024. We hope that Marathonbet customers enjoy all that we have to offer and look forward to seeing how our games perform on the platform.”

 

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BMM INNOVATION GROUP TO SHOWCASE COLLABORATION WITH INTERNATIONALLY ACCLAIMED MASTER CHOCTAW ARTIST DG SMALLING AT INDIAN GAMING ASSOCIATION (IGA) TRADE SHOW APRIL 10-11

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The Company to Unveil Original Artwork Focused on BMM’s Mission to Protect Tribal Gaming and All Who Play

BMM Innovation Group (“BIG”, “BIG Group”, or the “Company”), a technology conglomerate providing world-class services and cutting-edge solutions to the global gaming industry through BMM Testlabs, BIG Cyber, and RG24seven Virtual Training, today announced a collaboration with internationally acclaimed Choctaw Nation Master Artist DG Smalling celebrating BMM Innovation Group’s relationship with Tribal suppliers, regulators, and operators. The artwork will be showcased at the IGA tradeshow April 10-11 at the Anaheim Convention Center in BIG’s Booth No. 628.

Smalling is best known for his single-line, continuous drawing technique in which his pen never leaves the paper until the image is complete. The piece he created with BIG is called ‘Hand to Hand’, representing the vital relationship between the BIG Group and Tribal gaming. Smalling will be giving away signed reprints of the piece from 2-4 pm on Wednesday, April 10 in BIG’s Booth No. 628.

BIG’s Chairman and Chief Executive Officer Martin Storm said, “We are honored to be able to work with such an internationally celebrated and recognized Tribal artist, DG Smalling, to create artwork that reflects our deep roots in Tribal gaming and the importance of the BIG companies in protecting Tribal gaming and all who play through best-in-class product testing and certification, cybersecurity protection solutions, and compliance-grade training.

Smalling said, “I was excited to create this piece for the BMM Innovation Group. This artwork depicts the role of BMM as an agency of quality control to protect Tribal sovereignty from outside intervention; the intersection of Tribal nations, Indian Gaming, and BMM as a day-to-day presence securing Indian Gaming integrity, and thereby, its sovereignty.”

Prior to his collaboration with BIG, Smalling had already made a name for himself in the gaming industry. In 2022, he achieved the distinction of being the first artist to fully collaborate with a slot machine manufacturer when he teamed up with Incredible Technologies to launch Class II slot games showcasing his art. In addition, Smalling has played a key role in spearheading a number of corporate-indigenous partnerships with leading companies like Amazon, Gary Platt Manufacturing, Emser Tile Native Narrative Series, and APMEX. Smalling holds the distinction of being authorized by the Delaware Nation of Oklahoma — through statute — to create on their behalf.

Smalling’s art and honors include the Department of the Interior’s Operation Lady Justice; featured artist at Epcot Disney World: State of Oklahoma Centennial Show in 2007; Grand Palais “Salon du Dessin et de la Peinture á l’Eau” in Paris in 2011; and National Museum of the American Indian “Choctaw Codetalkers Celebration” in Washington, DC in 2012. In addition, Smalling has been commissioned to paint several portraits, including U.S. Justice Sandra Day O’Connor, U.S. Congressman Tom Cole, and Sir Tony Blair, the former Prime Minister of the UK, among many other notable dignitaries. Some of Smalling’s notable commissions include APMEX Coins’ Asian Zodiac Series: Year of the Dragon (2024) ; APMEX Coins’ Grand Buffalo (2023); and Lady Justice of California Proclamation (2020). For more information, visit dgsmalling.ai.

 

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