Online Casino Market

Posted on 7/29/202222.08.2017by admin

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Global Online Casino Market is segmented into type such as Download- based Casinos, Live Dealer Casinos, Web Based Online Casinos, and Virtual Casino Games, by device such as Tablet, Laptop, PC, and Desktop. Further, market is segmented into end user such as Gambling Enthusiasts, Social Exuberant, Dabblers, Lottery Loyalists, and Unengaged. To play Online Casino New Casino In Buffalo Ny games for real money you will need to sign up for a PlayNow.com account. Registering for an account on PlayNow is safe, secure and easy. Once your account is set up, you can place bets with Online Casino New Casino In Buffalo Ny games just like in a real casino. Let the fun begin! Online Casino Market would be the safe choice for everyone who intends to buy online casino business. Though being narrowly specialized this company has an extensive knowledge of industry and a wide range of services it has been providing to customers for many years. You are guaranteed the full pack of features a successful online casino should.

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Online casinos target Asian Market
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.

E-mail: news@ogpaper.com

The Top Online Casino Companies In The United States

by Matias Dorta / October 21st, 2020

Picture By Morning Brew

This blog is not a recommendation to buy or sell securities.

What is iGaming?

iGaming, otherwise known as online gambling, consists primarily of two sectors, sportsbook and online casino. Placing a bet online on the outcome of a sports match, playing online poker with friends, or trying your luck at a virtual craps table would all fall under the category of iGaming, with the first example categorized as “sportsbook” and the last two examples categorized as “online casino”.

Needham sees the U.S. online sports betting and gambling opportunity between $42 and $58 billion annually longer-term. Grand View Research expects a CAGR of 11.25% for iGaming leading into 2025. Why is the industry experiencing explosive growth?

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The rapid expansion of smartphones and tablets have made internet gaming more accessible.
Many states within the U.S. have either legalized online gaming or are on the path towards legalization.
Online gaming brings the excitement of a casino directly to the user’s home. Morgan Stanley expects over 75% of U.S. sports bets to be placed online based (versus land-based) by 2025.

As previously mentioned, iGaming consists of two sectors, sportsbook and online casino. In the second quarter of this year, online casino revenues tripled from the prior year with revenues surpassing $400 million. The growth in online casinos is primarily due to user demand for a digital experience, COVID-19 complications around brick and mortar casinos, and new states legalizing online gambling products.

source: PlayUSA.com

At the moment, online casinos are legal in New Jersey, Pennsylvania, West Virginia and Delaware. Early results from legalization highlight that user demand is strong:

West Virginians placed nearly $50 million in legal online wagers within the first four weeks of legislation.
Online casinos brought in over $81 million in June 2020 in New Jersey alone.
In Pennsylvania, online casinos saw revenues of $51 million in July 2020 and total wagers on slots surpassed $1 billion for the third consecutive month.

The U.S. opportunity for online casinos is significant. Despite strict regulations, the legacy US gambling industry still makes a total contribution of around $137.5 billion to the U.S economy annually and directly employs more than 730 thousand people (according to Statista). This figure also doesn’t take into account the assumed $150 billion wagered off-shore due to legal complications in the United States. As regulations improve, online casinos are well positioned to attract users and take market share in this growing industry.

Top U.S. Online Casinos

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 between the amount of money players wager minus the amount that they win. This is a key metric for the gaming industry and reflects the “sales” or “revenues” for online casinos.

The rankings below are based on data from Eilers & Krejcik Gaming on U.S. online casino operations. The rankings only reflect GGR market share from U.S. online casino operations three months ended October 31st 2020 and do not include data from sportsbook operations.

1. DraftKings

DraftKings is number one on the list with 16% of the U.S. online casino GGR market share. DraftKings, famously known for daily fantasy sports, is also becoming a dominant player in the U.S. online casino market. The company operates online casinos in New Jersey, Pennsylvania, and West Virginia. In its first month of business in West Virginia, DraftKings Casino brought in 75% of the $50 million in total online wagers for the state. According to DraftKings IR, their online casino app now offers over 360 different games.

Related Companies: DraftKings

2. SugarHouse-Rivers

SugarHouse-Rivers is number two on the list with 16% of the US online casino GGR market share. Sugarhouse-Rivers Casino is owned by Rush Street Interactive. The company operates online casinos in Pennsylvania and New Jersey. SugarHouse Casino was one of the first casinos to apply for an online gambling license in PA. The Pennsylvania Gaming Control Board approved the license in 2018, allowing SugarHouse to offer online slots, tables games, and poker for Pennsylvania residents and visitors.

Related Companies: Rush Street Interactive

3. Betfair-FanDuel

Betfair-Fanduel is number three on the list with 15% of the U.S. online casino GGR market share. In 2018, Paddy Power Betfair and FanDuel merged their U.S. businesses. Together, they operate online casinos in Pennsylvania (FanDuel operation) and New Jersey (Betfair operation). Both companies are owned by their parent company, Flutter Entertainment. Flutter is an online gaming powerhouse with over 13 million customers worldwide. Other notable brands under the Flutter umbrella include Full Tilt Poker, PokerStars, SkyBet, and FOXBet.

Related Companies: Flutter Entertainment

4. ROAR

ROAR is number four on the list with 13% of the US online casino GGR market share. ROAR Digital is a joint venture between MGM Resorts International and GVC Holdings and consists of the BetMGM, Borgata, PartyCasino, and PartyPoker brands. According to ROAR Digital’s CEO, BetMGM is on track to generate over $130 million of net revenues this year, predominantly from iGaming (online casino) in New Jersey, given the impact of COVID-19 (i.e. lack of live sports). ROAR Digital has live online casinos in New Jersey and West Virginia under the BetMGM brand and plans to enter the Pennsylvania market this year.

Related Companies: MGM, GVC

5. Golden Nugget

Tilman Fertitta’s Golden Nugget online casino comes in at 5th place. At the moment, Golden Nugget operates its online casino exclusively in New Jersey, where they are a market leader. The company saw record high user activity in the third quarter and may surpass $100 million in GGR in New Jersey in 2020. The company recently received approval from the New Jersey Casino Control Commision to complete its merger with the SPAC Landcadia Holdings II.

6. PokerStars

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PokerStars is number six on the list with 5% of the U.S. online casino GGR market share. Like BetFair-FanDuel in the number two spot, PokerStars is under the Flutter Entertainment umbrella. The popular European poker website launched in New Jersey in 2016. PokerStars offers users access to online poker, slots, and casino games in New Jersey.