This Week's Top iGaming News, March 31
Get your fill of this week’s iGaming action with our weekly round-up of news from across the iGaming world. All the hottest iGaming news that’s not to be missed right here each week.
Things are moving in the right direction for potential iGaming businesses in India as the Indian Government starts making moves towards reforming the outdated Public Gaming Act (1867) and the Information Technology Act (2000) that doesn’t cover online wagering whatsoever. Trends in growth show annual rates of over 20% increase with over 370 million active bettors in the country, with cricket betting alone estimated to be worth in the region of €139.30 billion.
One area showing big promise in the subcontinent is fantasy sports betting, with a jaw-dropping 160 million active fantasy sports players. Indians are also high rollers at live casino with regional favourites being Teen Patti and Andar Bahar, as well as the usual suspects of blackjack, poker, and roulette. With the population of India being close to 1.5 billion people, there is plenty of room yet for growth in this exciting emerging market.
Followers of all things eSports can now take a peek at iGB’s annual Esports Report 2023. It makes very interesting reading for those interested in the growing eSports market. While financial pressures have impacted many business sectors, eSports has continued to grow. Even the impact of the pandemic was not enough to halt the progress.
Brazil is one of the main markets that has continued to grow in the eSports sector, making it more attractive now than ever before with prospective new businesses. Asia, Europe and North America, however, continue to be front-runners and the biggest eSports fans. In 2022, the global eSports audience reached a staggering estimate of over 532 million, an increase of 8.7% year on year. Whilst the estimated global eSports revenue for 2022 is a jaw-dropping $1.38 billion, up 21.8% year on year. The bottom is not likely to drop out of the eSports market any time soon, it seems.
Everyone loves a great deal. So it may come as no surprise that the Betting and Gaming Council (BGC), the single industry body for UK betting and gambling, released the results of a survey recently that shows that the vast majority of bettors (over 80%) support promotions like free bets. The trade association found that 82% of players agreed that promotions such as free bets should be allowed.
Anyone in the iGaming sector would probably agree that promotions and offers are a key element in iGaming marketing. All verticals in the sector offer unique deals, promotions, tournaments and offers to increase acquisition and retention. The key is to Know Your Customer. Emerging markets, like Brazil, Nigeria and India, favour different verticals, games, offers and interests to their counterparts around the world, so it’s important for clients to use experts, like WeAreGame who know how each different demographic works. It seems the world hasn’t fallen out of love with offers yet.
Sport has always been a huge part of Brazilian culture, so it should come as no surprise that more officials are championing the increase in sports betting in Brazil since changes in sports legislation came into force in 2018. The change is easy to see with the last five years showing massive growth in iGaming and increased transparency of sports betting advertising at top-level events and leagues.
Pedro Duarte, a councillor in Rio de Janeiro, recently gave instructions on preparations needed for cities to receive bookmakers. Currently worth in the region of R$12 billion a year in Brazil, the success is easy to see with each of the twenty clubs in Serie A of the Brasileirão having some form of sponsorship from the sector. The sports betting market is anticipated to reach US$140 billion in the next five years. Things are certainly looking ‘Hot, Hot, Hot’ in Brazil for iGaming!
If you’re not aware of the All-In Diversity Project and its annual All-Index Report, you’re not alone. So, what exactly is it? The project was set up in 2017 by Christina Thakor-Rankin, Principal Consultant at 1710 Gaming Ltd, and Kelly Kehn, Global Relationships Director at SBC Sports Betting Community. The non-profit initiative aims to improve diversity, equality and inclusion in the betting and gaming sector worldwide. The annual survey is open to any business in the sector, and participants get a baseline score of up to 100 upon completion that can be used to identify company objectives moving forward.
The All-Index Report 2021/22 makes for very interesting reading and shows most companies still have some way to go. Visitors to the website can see the annual leaderboard, with the top five organisations given credit for their progress. The deadline to submit a response to the All-Index Diversity, Equality & Inclusion Survey 2023 is 15th April, which means there’s still time to get involved and for companies to earn a place in the coveted ‘Top 5’. We look forward to the publication of the report which is anticipated to be in the summer.
Don’t forget, come back each week for your latest fill of iGaming news, facts, fun and gossip! We’ll bring you your latest news snippets, in brief, every single week.