Daily Archives: February 24, 2022

The Online Gambling Game Software market research report provides an in-depth analysis of the currents trends, latest developments, scenario, market size, various drivers, restraints, and major players along with their profile details. Research report offers the major data for year 2021 and 2027 and also provides the forecast data from year 2021 to 2027 which is rested on revenue. With the help of all these information research report helps the market participators to grow market positions. With the help of all these insights Online Gambling Game Software market research report recommends a business strategy for present market participants to strengthen their position in the market.

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Key Players mentioned in the report:

Online Casino

Sports Betting

ESports Betting

Online Lottery

Others

The up-to- date report of Online Gambling Game Software market presents a detailed representation of growth line of the industry, including all the important aspects similar as primary growth drivers, impediments, and opportunities. Also, it elaborates on the sizes and shares of the market segments, including the product types and application diapason, along with a grainy evaluation of the indigenous markets and competitive arena. The research literature emphasizes on the fate of COVID-19 Impact on this perpendicular and puts forth strategies for effective threat management and robust earnings in the ensuing years.

Product Segment Analysis:

Online Casino

Sports Betting

ESports Betting

Online Lottery

Others

Application Analysis:

Client

Mobile Installation

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Regions and countries mentioned in the report:

United States, Europe, Japan, China, India, Southeast Asia

Key Questions In This Report:

The Online Gambling Game Software market report also examines the various growth trends, upcoming prospects and regulations that will dominate the industry over the coming years. Our experts have also added leading players in their field to calculate industry share and major players. This report describes technological developments in the industry as well as future areas in the industry that can attract significant investments.

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Online Gambling Game Software Market Potential Growth, Size, Share, Demand And Analysis Of Key Players Research Forecasts To 2028 ZNews Africa -...

SHUTTERSTOCK/VECTORPIXELSTAR

DraftKings stock dropped nearly 22% on Friday, after the companys Q4 2021 earnings call. Investors werent happy that the companys leadership intends to continue spending heavily on marketing and promotion while the business has yet to achieve profitability.

Chatter began immediately on social media about which online gambling operator will replace DraftKings at the top of the heap.

As is often the case, there has been a partial rebound since the drop. Markets were closed on Monday, but DraftKings rose nearly 8% in Tuesday trading, and has made smaller gains today.

Online Poker Reporthas often referred to DraftKings as a member of theBig Three.By this, were placing it alongside US online casino market leader BetMGM and Americas online sportsbook heavyweight FanDuel. With DraftKings now trading at less than one-third of its March 2021 high, theres a temptation to remove it from that elite group. However, that would be premature.

Other than BetMGM, which started its marketing and promo race with competitors at a significant brand recognition advantage, most viable competitors are spending at a rate almost as high as DraftKings. Somewhat smaller competitors, like Rush Street Interactive (RSI) of BetRivers fame, may spend more rationally and were favored by social media commenters. However, almost no US iGaming stocks have been untouched by recent corrections, as investors have been spooked across the board.

Meanwhile during last months investor update filled with similar questions from analysts, even BetMGM didnt promise to become profitable until 2023.

Sure, Jason Robins DraftKings co-founder, CEO and board chairman sounded a bit like actor Michael J. Foxs character in the 1987 hit movie, The Secret of My Success. Protagonist Brantley Foster embodied the 80s zen with: We gotta expand!

On Friday, Robins said DraftKings is spending a lot, but pointed out that it has also doubled in size.

The 2021 annual report shows revenue more than doubled vs. 2020. DraftKings sales and marketing expenditures nearly doubled, as well.

In 2021, DraftKings revenue of nearly $1.3 billion exceeded its sales and marketing expenditures by $314.5 million, according to the annual report. In Q4 2021 alone, DraftKings generated $473 million in revenue.

Still, the online gambling leader spent $981.5 million on sales and marketing during 2021.

So on Fridays earnings call, analysts kept asking when DraftKings will be profitable. The answer they got was that DraftKings will keep doing what its doing.

DraftKings CFO Jason Park said:

It is clear that the business model is working.

So, is DraftKings resisting calls to change? Yes and no. Robins and Park said theyre sticking to their business model, but that its built to accept change. That is, their strategy will change over time, because the model evolves along with the market.

By their reasoning, if DraftKings were to curtail marketing and promotional spending at this point, it wouldnt be responding to changes in the landscape.

Robins insisted that the company would be on course for profitability by Q4 this year, if no further states were opening up.

However, DraftKings cant stand still just to rein in spending, he said. It also means DraftKings has to spend money to acquire customers in new markets, as well as retain gamblers in mature markets, Robins said.

So last month, DraftKings Sportsbook launched in Louisiana and New York. This month, its commercials aired throughout the Super Bowl, with an actor wearing somewhat 80s goth fashion.

On April 4, DraftKings plans to enter the Ontario iGaming space when that Canadian province allows private operators to launch. Later this year, the company is looking to launch online sportsbooks inMaryland, Puerto Rico and Ohio.

That will add to the online casinos DraftKings now operates in five states and the mobile sports betting it has in 17.

Meanwhile, new states take two to three years to pay back startup expenses, he said.

Park added:

As a reminder, our primary use of capital is to fund state launches.

Indeed, the highest costs come at the brand awareness and customer acquisition stage in each new state. Local advertising costs more than national commercials, but needs to happen in new states, Robins said. Those customers are worth the money, though, because theyre the strongest cohort, he said.

Then once markets mature, costs lower. Park says states where DraftKings launched between 2018 and 2020 will become profitable during 2022.

DraftKings can then move to national ads for continued brand awareness and retention efforts, can lower customer acquisition costs and is able to use player data in its customer relationship management (CRM) system to cross-sell its products to existing users, they said.

DraftKings wont have the costs it incurred to onboard tech talent in order to compete on product with international online gambling operators. Those personnel created products in-house that are already making DraftKings more efficient, Robins said. He added that another reason DraftKings can evolve products quickly is that its focused almost exclusively on the US.

Park noted that the in-house betting engine has already helped the bottom line.

The DraftKings Casino game built in-house, Rocket, is performing well in Connecticut, Michigan and New Jersey, Robins said.

Plus, the $1.6 billion Golden Nugget Online Gaming (GNOG) acquisition is slated to close this quarter, Park said.

Additionally, if New York doesnt lower its 51% tax rate on online sportsbooks, DraftKings may lower spending in the state so that it becomes profitable for the company in the usual two to three years, Robins said. PlayNY reported on Thursday that DraftKings Sportsbook came in third in gross gaming revenue during January, behind Caesars Sportsbook and FanDuel Sportsbook.

DraftKings provided itself with an excuse if it fails to become profitable.

On page 20 of its annual report, DraftKings included a lengthy series of caveats, beginning:

DraftKings has a history of losses and we may continue to incur losses in the future. Since DraftKings was incorporated in 2011, it has experienced net losses and negative cash flows from operations. We experienced net losses in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) of $1,523.2 million and $1,231.8 million in the years ended December 31, 2021 and 2020, respectively. We may continue to experience losses in the future, and we cannot assure you that we will achieve profitability.

The text goes on to caution that the company may continue to lose money in future periods and for many reasons, both foreseeable and not. It then concludes on a rather grim note:

If our expenses exceed our revenue, our business may be negatively impacted and we may never achieve or maintain profitability.

Read more:

Are Investors Overreacting To DraftKings' Continued Unprofitability? - OnlinePokerReport.com

The province of Ontario has allowed sports betting in some form to take place legally within its borders since August 2021, regulated via the government agency iGaming Ontario that conducts and manages internet gaming in the province when provided through private gaming operators, although currently online sports betting is still unavailable, which may be set to change later this year.

Indeed, there is a lot of movement in regard to making this available at the moment, with it claimed that there is some push by sportsbooks and senior officials looking to make the activity fully legal by April 2022.

In contrast, online gambling via the use of casino platforms is already permitted legally and has already seen a huge amount of success, with one of the very best online casinos in Canada already establishing itself amongst the leaders within the market in the country.

However, what impact will the introduction of fully legalised sports betting within Ontario have on the online casino scene within the province? Lets explore some of the potential outcomes that could be experienced soon:

Decline in numbers

One possible outcome that could be experienced by online casinos is that operators could start to see visitor numbers go on a decline, as players will be able to have more choices compared to before.

Sports fans who may not have been happy with the current regulations that only allow for single sports bets may have already turned to use virtual casinos as an alternative to satisfy any hunger they may have for gambling, however the introduction of sports betting within Ontario might see those players looking to move to a sportsbook that fully allows them to achieve what they want.

More potential customers

In complete contrast, the legalisation of sports betting within the province could actually have a positive effect on online casinos, as more may actually be inclined to bet on some of the games that are available.

Indeed, many may have decided to wait for sports betting to become legal because that is the type of wagering that they want to participate in. However, those that then enjoy it and wish to explore new opportunities may decide that going to an online casino could be the next move for them.

This would then allow for online casino platforms to be able to increase their customer numbers, which would then help the industry to thrive and grow further, therefore enjoying a positive impact.

Revenue generated could be extremely different

The amount of revenue could potentially increase or decrease with the pending introduction of sports betting within Ontario, Canada, especially if one of the above factors were to come true.

Indeed, if more options become available as likely as it looks at this stage, there could be less money available to online casinos to try and generate from potential customers as players will be able to choose with whom they spend their cash. As mentioned, some may have decided to use an online casino platform to quench their thirst for their hobby as a substitute, however the availability of a sportsbook could make them move.

However, the introduction of sportsbooks could benefit virtual platforms, too, as players who wager on sports may look for several alternatives to further enhance their overall gambling experience.

Conclusion

At the moment, it could be rather hard to try and predict successfully what kind of impact the introduction of sports betting in Ontario will have on online casinos, however it is certainly something that will need to be planned for. It could be good, it could be bad, but it might be something where only time will tell.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes

Originally posted here:

What impact will the impending sports betting in Ontario have on online casinos in Canada? - EconoTimes

A ground-breaking deal between an active National Hockey League (NHL) player and an online gambling brand has been signed in Canada, SportsHandle reported.

Toronto Maple Leaves center and alternate captain Auston Matthews signed a partnership agreement with Bet99, an online betting and gaming operator that is yet to get licensed for sports betting operations in Ontario, Canada, to promote the brands free-to-play website, Bet99.net. Ontario is set to launch regulated online casino gaming in April this year.

The online gaming brand is licensed by the tribal authority of Quebec, the Kahnawake Gaming Commission, as well as the Malta Gaming Authority (MGA), and is not clear whether applications for sports betting and iGaming licenses have been filed with the provinces regulators, the Alcohol and Gaming Commission of Ontario and iGaming Ontario.

Matthews, a promising ice hockey star who has started on the high with the Maple Leaves having scored over 30 goals in his first five seasons with the NHL outfit and is currently on the path of surpassing the 50-goal threshold for the first time in his career, is believed to have signed a three-year contract with Bet99.

I am proud to announce my partnership with Bet99.net and am excited to explore and develop opportunities in this space alongside their team, Matthews commented on his Twitter profile.

Matthews partnership with Bet99 was made possible due to the deal signed between the National Hockey League Players Association and the NHL in October that allowed players to pursue advertising and promotional opportunities with sportsbooks.

Unlike Canadian Ultimate Fighting Championship star George St-Pierre who is also an ambassador of the Bet99 brand, promoting its real-money gambling services, Matthews will be promoting the free-to-play website of the brand.

Bet99 also has partnerships with Canadian Football League Montreal Alouettes and Canadian soccer club CF Montreal while Matthews is regularly engaging in charities and other social activities outside of his professional player duties.

The player of the Maple Leaves is following in the footsteps of NHL legend Wayne Gretzky, who became a brand ambassador of another sports betting and gaming brand, BetMGM, last June.

BetMGM, which is usually among the first to launch operations in jurisdictions that legalize online sports betting or online casino games, is expected to receive its iGaming license in Ontario shortly.

Go here to read the rest:

Auston Mattews Signed Three-Year Partnership with Bet99 - GamblingNews.com

According to the Statista site, online gambling is one of the 10 most growing industries in 2022 2023 with an annual rate of close to 15%. Certainly, this percentage is very high considering that the shipping industry across the world, the backbone of global trade, will achieve a growth of 12.1%! If you watch a cricket match in any of the lower-followed or high-profile leagues, youll find ads from sports betting sites filling the stadiums. If you browse any website on the internet you will find it full of ads for gambling brands. So you have multiple motives to try these games to win, enjoy weekend nights, have fun, or challenge your friends. However, you may lack the basic info you need to start playing, so on this page, we will provide you with all the details you need to have an enjoyable gaming experience at trusted online cricket betting sites outside GamStop.

It may sound like a banal question at first, but on closer inspection, the answer is not so obvious. Gambling is a dictum, but it also has a very specific meaning. What is meant is primarily that winning depends largely on chance and not on the skill of the player. While this does not mean that the skill of the player does not also have an influence, the element of chance in gambling is very high. In this case, the skills lie more in the fact that the player can assess the probabilities and random moments well in order to play bets at the appropriate places.

Gambling works with bets that are multiplied in case of a win. Probabilities play a big part in this. The rule of thumb is the more improbable an event, the higher the profit can be. The RTP (payout ratio) also decides what percentage of the income, e.g. from a slot machine, is paid back and should therefore not be ignored.

As the name suggests, an online casino can be found on the Internet and is therefore different from the local gambling halls and land based casinos that have a classic tradition. There are definitely providers who have casinos in cities as well as operate online casinos. Basically, the offers are structured similarly.

There are table games and slot machines, but online they no longer have any mechanical components. The games in the online casino are purely programmed software. In principle, you can play at any time and any place, as long as the internet is available and playing is legal in your own country.

The meaning of the casinos presence outside the GamStop is that it simply does not have a British Gaming Commission license! It is therefore able to provide its services to self-excluded players using GamStop, GamBan or any other self-exclusion program. Certainly, this casino can offer its games to players who are not self-excluded. When you compare the UK based sites to casinos outside GamStop, you will find that the first group excel with a lot of great features including offering multiple bonuses to players, a rich gaming package, and the ability to play on smartphones and tablets efficiently.

The live casino is a special form of online gambling game and is usually part of it, while pure software is used in regular casino games, the live casino is played via video transmission at real tables. This gives a more realistic casino feel and is mostly used for table games like blackjack and roulette. Since live casinos are generally related to the normal ones, you do not need to register separately.

If you feel like gambling, the Internet is the place to go. There are numerous online casinos where you can register with. The selection is so large and sometimes unmanageable that it is worth getting an overview first. Therefore, it is important that you rely on trusted review sites in order to be able to choose the best casino outside GamStop!

Even if online casinos are gambling, the choice should not be. There are fixed criteria that can be used to compare the many different non GamStop casinos. Such a casino comparison is based on different tests and parameters. These include the odds, the range of games, the payment methods, customer service, the user-friendliness of the site, the bonus programmes, security and also experiences. Based on the individual ratings, you can get a good overview of the market and where it might be worth registering.

Even if the non GamStop online casinos can be used at any time and in principle from any place with an Internet connection, it is not always easy to register. First, the offer must be legal in the country. As a rule, however, registrations will not work anyway if there are country restrictions. In addition, you must meet certain requirements yourself.

In the UK and most other countries, you must be at least 18 years old. Then you can register. Your own data including payment options are given. The account must then be verified with an ID document (e.g. ID card). After that, you can start playing.

Basically, gambling is allowed in the UK. However, this does not mean that anyone can offer gambling at will, or simply that anyone can gamble as they wish. Must be 18 or older to play. Providers must have licenses that are specified by the UKGC. The offer is only legal with state licensing and can then be used accordingly without hesitation. However, all players can freely sign up and play at offshore gambling sites. Under the Free Trade Act, all British players can choose and play any overseas site with complete freedom.

A casino bonus is generally spoken of when a provider has a specific promotion in its program. This means that you can get free spins, for example, but also general bonus credit that can be used in the online casino. There are often offers especially for new customers, which of course also have the purpose of advertising, but can actually also offer an advantage. Existing customers can also often enjoy bonus promotions.

The welcome bonus is a promotion in an online casino without GamStop that is specifically aimed at new customers only. If you register in an online casino, there is usually a bonus to tap. In most cases, this consists of an increase in the first deposit. For example, you deposit 200 and get another 200 with the 100% bonus. This should make the first steps easier. However, it should be noted that no new customer bonus can simply be paid out and that there are often certain bonus provisions. Also, no welcome bonus can be used if you already have an account with the provider.

Read the rest here:

Guide to Online Cricket Betting and Casino Sites in the UK - Cricket Addictor

Despite the great effort, the Florida Casino Gaming Expansion Initiative will not be on the ballot in Florida as an initiated constitutional amendment on November 8th, 2022, as it didnt get enough signatures. Of the required 891 586 signatures by 5 pm on February 1st, 814 212 signatures were obtained.

A now failed initiative was originally designed to expand casino gaming in Florida by allowing businesses with proper licenses to offer casino gaming as long as they are located 130 miles in a straight line away from any of the seven Seminole tribal casinos.

Luckily, the failed mission to expand casinos in Florida didnt disrupt gambler enthusiasts in this state much as they have a total of 77 casinos spread out across 31 cities at their disposal. If interested, you can find the map of Florida casinos at Casinos.us writers.

Generally, the Sunshine State makes a clear distinction between traditional casinos and online gambling. Whilst land-based gambling laws are clear, online betting rules are not.

The States legislators have been working hard to introduce a legal framework for betting apps and online sports betting in the last couple of years. However, due to the filing of several lawsuits, this process has been stalled.

Meanwhile, Florida gambling laws regulating online casino sites are still far from becoming a reality. This inconvenience has made a lot of Florida residents turn to the alternative of gambling at offshore casino sites.

If theres one thing that can be said with certainty, its that Florida gambling has always been a hotly debated subject. Even though online gambling is not legal in the Sunshine State, that is not due to the lack of effort. In fact, the Florida legislature has been trying to legalize both sports betting and online casinos for years now, and the push for legalization is continuing in 2022.

Given that Florida is the tourism capital of the United States, theres no doubt that a lot of people from all over the world would partake in online gambling when they visit if they had the opportunity to do so.

Perhaps the biggest hurdle with online gambling is the Seminole Tribe in southern Florida which has a monopoly on all casino card games. If online gambling were to become legal, a new tribal compact would need to be negotiated to ensure that the tribe and state are both benefiting.

Sports betting has been legal in Florida since May 2021, when the Florida House of Representatives signed a gaming compact with the Seminole Tribe. The first sports betting mobile app was launched on November 1st; however, unfortunately, Seminole Tribe was forced to take down Hard Rocks sportsbook app one month later, after seeing their appeal turned down.

The latest sports betting initiative, one that was supported by both DraftKings and FanDuel, failed to reach the number of signatures required to be placed into the November 2022 ballot. With that being said, mobile sports betting wont be going live in the Sunshine state until 2023 at the very earliest.

Given the circumstances, it is totally understandable if residents of the Sunshine state are eager to place their sporting bets. While it is recommended to sit tight and be patient for mobile sports betting apps to appear in Florida, you can always go with an alternative and place your wagers on offshore casino sites.

Due to the accessibility of offshore websites, online gambling as well as sports betting in Florida has been thriving. However, if you opt for this solution, you must be extra careful on which sites you gamble as there are a lot of scamming and unregulated casino sites out there. Cybersecurity should be at the top of your priorities.

When you are looking to make an account on an offshore casino site, the first thing you need to do is make sure that the site is licensed and regulated. Take some time to research and read reviews. Also, make sure to carefully read the terms and conditions.

The variety of games available, the number of deposit and withdrawal methods as well as generous and fair bonuses are the main things you should look for in an offshore casino site.

Read this article:

What is the Current State of the Florida Casino Drive - South Florida Caribbean News