Fortune Business Insights (FBI) contend that Europe will headline massive growth of the iGaming market, forecasted to hit $158B by 2028
A report by Fortune Business Insights (FBI) projects the iGaming market to be worth over $158 billion by 2028, with Europe headlining the iGaming market. Undeniably, the pandemic has acted as a catalyst for the online gambling market, as customers sought out alternatives to traditional land-based offerings which were forced shut.
Titled Online Gambling Market, 2021-2028, Fortune Business Insights (FBI) backs its findings by highlighting the market variants on a granular level for sports betting, casinos, poker, lottery, bingo, and others. This was separated by region and, given our focus on Europe, referenced: Germany, the UK, France, Italy, Russia, Spain, Netherlands, Turkey, and Switzerland.
The report finds Europe’s market size, currently standing at $30.92B, will be maintained going forward by sustaining a healthy betting culture. Moreover, the introduction of innovative technologies in online gambling has fueled continuous market growth. Europe has the competitive advantage of advanced technology in terms of hardware and software. This paired with the rising popularity of online gambling in the region is forecasted to drive Europe’s penetration into the iGaming market.
Fortune Business Insights (FBI) adds that one of the key factors to Europe’s domination are the sports enthusiasts investing large amounts into sponsoring online sports betting. This is echoed through companies such as William Hill and Casers Entertainment who in October 2020, signed a National Football League (NFL) team sponsorship to the excitement of customers. The key players in the European market were highlighted as:
- Slots Heaven Casino (Slots Heaven Casino)
- Sky Betting & Gaming (Leeds, United Kingdom)
- Betfred (Warrington, United Kingdom)
- LeoVegas AB (Stockholm, Sweden)
- Betsson AB (Stockholm, Sweden)
- Kindred Group Plc. (Valletta, Malta)
- Mansion Casino (Gibraltar)
- bet-at-home.com AG (Germany)
- 888 Holdings PLC (Gibraltar)
- Bet365 (Stoke-on-Trent, United Kingdom)
- Flutter Entertainment Plc. (Dublin, Ireland)
- William Hill Plc. (London, United Kingdom)
- Entain plc (GVC Holdings Plc.) (Douglas, Isle of Man)
In similar news, given the monumental growth of iGaming over the past year, iGaming stock has caught the attention of investors as stocks like Draft Kings (DKNG) have in fact been some of the best-performing in 2020. Furthermore, Morgan Stanley recommends buying these online sports wager stocks ahead of the curb.
Source: Calvin Ayre
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