LONDON--(BUSINESS WIRE)--Technavio has announced the top nine leading vendors in their recent global gambling market report until 2020. This research report also lists nine other prominent vendors that are expected to impact the market during the forecast period.
|In 2015, the global gambling market generated a revenue of USD 689.7 billion and it is expected to generate USD 1,009 billion by 2020, growing at a CAGR of 7.91%.|
One of the most attractive features offered by online gambling is its higher reach among the players. Web-based gambling does not require the physical presence of the players at the venue, allowing the players to gamble at their convenience. Gambling on computing and mobile devices is further increasing the reach of the games among the youngsters.
The mobile ad, which is one of the strongest mediums of advertising, reaches out to those untapped group of the population who refrain from going to betting venue and encourage them to try the game online.
Competitive vendor landscape
The global gambling market is highly competitive. The presence of numerous vendors implies a fragmented market. Intense competition, rapid advances in technology, and frequent changes in consumer preferences present a significant risk to vendors. Many casinos are investing in rebuilding and expanding existing facilities, acquiring new players in the market, and building new facilities to attract more customers and gain a larger market share.
Ujjwal Doshi, a lead analyst at Technavio for research on gaming, says, “Most leading players are adopting aggressive promotional strategies, thereby increasing the competition in the market. There is also an influx of private labels in the market. Therefore, to survive and succeed in this competitive environment, it becomes imperative for vendors to distinguish their product and service offerings through clear and unique value propositions.”
Vendors have started to offer a variety of add-on services to their loyal customers such as free stay in hotels, travel packages, and other leisure services. To remain competitive in the market, vendors not only need to develop new technologies but also stay up-to-date with the emerging technologies that could influence their product lines.
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Top nine gambling market vendors are as follows:
888 Holdings provides online gaming products and operates in B2B and B2C segments. Its products include PacificPoker.com, 888poker.com, ReefClubCasino.com, Casino-on-Net.com, and 888casino.com.
Betfair Group is a provider of sports betting and gaming products in the UK. Some of its major products include betting exchange and sportsbook. While, the betting exchange allows the customers to bet against each other with varied pricing, the sportsbook, which is a fixed-odds game, allows the customers to bet directly against Betfair on outcomes of sports events.
Caesars Entertainment, along with its subsidiaries (Caesars Entertainment Operating Company, Caesars Entertainment Resort Properties, and Caesars Growth Partners), owns, operates, and manages 52 land-based and riverboat casinos in 13 states of the US and five foreign countries under the brand names Caesars, Harrah’s, and Horseshoe. It also operates hotel and convention space, restaurants, and non-gaming entertainment facilities.
Camelot runs national lotteries that continue to be truly life-changing for both many winners and the countless individuals and communities that benefit from National Lottery funding.
The company offers consulting and management services that include iLottery channel management, responsible gaming, product portfolio development, retail management and execution, technology strategy, and implementation and marketing strategies designed to maximize participation and net returns to beneficiaries.
INTRALOT is a supplier of innovative game content, sports betting and racing management, integrated gaming, and transaction processing systems, and interactive gaming services. It caters to the state-licensed gaming organizations worldwide.
Las Vegas Sands
Las Vegas Sands is one of the world's leading developers of destination properties. The company owns and operates integrated resorts featuring premium accommodation, world-class gaming facilities, entertainment and retail centers, convention and exhibition facilities, celebrity chef restaurants, and other amenities. It generates its revenue from gaming facilities, food and beverage services, and retail tenants (leasing mall space to third-parties).
MGM Resorts develops, builds, and operates unique destination resorts designed to provide a total resort experience, including first-class accommodations and dining, state-of-the-art meeting and convention facilities, world-class entertainment, and high-quality retail and gaming experiences.
Its gaming operations include VIP table gaming, slot machines, and mass market table gaming. The casinos are located at prime locations on Taipa Island and the Macau Peninsula. The company's hotels include Grand Lisboa Hotel and Sofitel Macau.
William Hill is one of the most trusted and popular sports betting provider that has a strong foothold in the land-based sports betting. The company attracts millions of customers from around the world and employs more than 16,000 individuals in nine countries. Apart from the UK, William Hill's online gambling business is headquartered in Gibraltar with its marketing and customer service centers in Israel, Bulgaria, and the Philippines.
Browse Related Reports:
- Online Gambling Market in the US 2016-2020
- Global Online Gambling Market 2016-2020
- Casino Gaming Market in the US 2016-2020
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