Online Casino Market
As regulations improve, online casinos are well positioned to attract users and take market share in this growing industry. Let’s look into the biggest players in the U.S. Online casino market based off of GGR market share from the three months ending October 31st, 2020. GGR, or gross gaming revenue, is the difference. Online Casino Market. Online Casino Market has more than 10 years of experience, hundreds of. Successful projects and a large-scale distribution network. Is considered one of the best iGaming software providers. Developing and expanding the boundaries of the gambling industry.
Online casinos have enjoyed unbelievable growth on the Internet in recent years, and this explosive expansion has come with much scrutiny and has created an incredibly crowded marketplace, as online casinos spring up left and right. But the current state of online casinos is healthy and ripe with new developments and news. The industry is always exciting despite mainstream society’s recent reservations.The latest research on online casinos shows that there are still substantial growth opportunities in the online casinos industry in months and years to come. The potential growth of online casinos is great because of the Asian market.
New studies study estimated that worldwide online casinos and gambling revenues were $11 billion in 2005, up from about $8.5 billion in 2004. Online casinos should get even bigger and better, as more in Asia begin to play. After all, like online casinos, land based casinos have targeted the Asian market for a long time.
So have the mass media and the common man or common woman in Asia embraced the legitimacy of online casinos due to these great revenues and the industry’s increasing popularity? Only time will tell. If online casinos are as popular with the Asian market as land based casinos, then the online casinos industry will be strong.
Asian customers are aggressively being courted by online casinos and land based casinos around the country.
Every day, Foxwoods and nearby rival Mohegan Sun combined send more than 100 buses to predominantly Asian neighborhoods in Boston and New York. The number of buses doubles on Chinese New Year, and on Thanksgiving and Christmas.
Foxwoods, the biggest casino in the world based on gambling floor space, estimates that at least one-third of its 40,000 customers per day are Asian. Mohegan Sun says Asian spending makes up a fifth of its business and has increased 12 percent during the first half of this year alone.
The number of Asians in the United States increased by 17 percent between 2000 and 2004, the fastest growth of any ethnic group during that period, according to the U.S. Census Bureau. And few industries have catered to the Asian boom with as much cultural competency as the $75 billion U.S. gaming industry.
In 2000, Foxwoods, which is run by the Mashantucket Pequot tribe, hired a vice president specifically in charge of Asian marketing. In 2005, Mohegan Sun, owned by the Mohegan tribe, hired an international marketing executive who would target the Asian demographic.
'Our Asian blood loves to feel the luck,' said Ernie Wu, director of Asian marketing at Foxwoods. 'We call it entertainment, we don't say it's 'gambling.'
The two casinos target Asian customers with ads in ethnic media and sponsoring community activities such as the Boston Dragon Boat Festival, the Toronto Asian Beauty Pageant, and the Southeast Asian Water Festival in Lowell, Mass.
Online casinos look to expand to Asia and, like their land based counter-parts, continue the great gaming surge of 2006 and for years to come.
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Casino Gaming Industry
Online casino is commonly known as virtual casino. Online casino is an advance version of traditional casino. These casino includes games such as baccarat, poker, bingo, slot machines, keno, blackjack, and roulette. As compared to offline casinos, online casinos offer higher payback percentage and better odds of winning to its players. Online casinos offer various gifts and bonuses which include welcome bonuses, cashback or insurance bonuses, non-cashable bonuses, referral bonuses, compensatory points, and no deposit bonuses. These offers help vendors increase the number of visitors and players to their website. These advantages are expected to propel the global online casino market. There are various regulatory bodies present across the region who permit the legality, and licensing or authorization to online casino vendors. Some policies or Acts include Interactive Gambling Act 2001, The Belgian Gaming Act, Online Casino Legislative 2012, the Gambling Act of 2014, The Unlawful Internet Gambling Enforcement Act of 2006 and others. The above mentioned acts might hinder the growth of the online casino market.
There are various factors present in the market which plays an important role in driving the global Online casino market such as increasing number of participants across the world, rising standard of living, increasing spending capability of customer, growing urbanization and commercialization are projected to boost the global online casino market. The major factor which is driving the online casino market is the high adoption rate of mobile phone across the region. Furthermore, rapid growth in technology and change in consumer’s offline casino preference are expected to drive the online casino market. Rising number of internet users is creating huge opportunities for the online casino market globally. However, security and authentication related issues is likely to restrain the online casino market and affecting the growth of the market.
The online casino market has been segmented based on type, device, end-user, and geography. In terms of device, the online casino market has been divided into smartphones, laptop, tablet, PC (Personal Computer), and desktop. Based on end-user, the market has been bifurcated into men and women. Based on type, the online casino market has been classified into download-based online casinos, live dealer casino games, web-based online casinos, and virtual casino games. In terms of geography, the global online casino market has been categorized into Europe, Asia Pacific, Middle East & Africa, North America, and South America. Europe holds a major share of the market. Governments are implementing favorable rules and regulations for online casino in countries such as the U.K, Germany, and Italy. This is expected to propel the market in the Europe during the forecast period. The market in North America, followed by Asia Pacific, is anticipated to expand at a healthy growth rate during the forecast period.
Key players operating in the global online casino market includes 888 Holdings (Gibraltar), Bet-at-home.com, Ladbrokes (U.K), Bwin.Party (Gibraltar), Betfair Online Casino (U.K), Draft Kings (United States), GVC Holdings ( Douglas), MGM Resorts (Las Vegas), Unibet Group (G?ira), NetEnt (Sweden), Paddy Powe ( London), The Stars Group (Canada), William Hill.( United Kingdom), Microgaming (Douglas), Camelot Group (United Kingdom), Rank Group (United Kingdom), Playtech ( Douglas), Gala Coral, Amaya (England), Fan Duel (United States), International Game Technology (England), and Realtime Gaming (Georgia). In the current market scenario, competition among these market players is very high. In order to gain a competitive advantage in the industry, the companies are focused toward technology adoptions and development of their offering. These strategies are expected to help them to get an edge over their competition during the forecasted period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Europe
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
Us Casino Industry Growth
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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Online Casino Market