According to the Courier, one of the world’s top repository research companies, Big Market Research, has published a detailed analysis of the online gambling and betting operations industries in 2020.
A forecast of the gambling industry in the next five years is also part of the report. By the way, the Big Market Research report is titled the “Online Gambling and Betting Market – 2020”.
You will also discover the top garners in the South Africa online gambling market after reading the report. The prospect of the online gambling market between now and 2027 was also highlighted.
The 2020 Online Gambling and Betting Market Report
The online gambling market report by Big Market Research outlined various key aspects of the market that stakeholders must take note of. More so, the report is divided into segments such as:
- Regional outlook
- Company profiles
- By type
- Major garners
- Share and Revenue by Manufacturers
Also, the report listed the online gambling companies that made huge profits in 2020. According to the report, the key players and top gainers are Betway, Royal Panda, Betwinner, LeoVegas, Bet365, Unibet.
Besides, the report analyzes the present market data using primarily secondary authoritative sources. Furthermore, the report tracks the latest market dynamics like restraining factors, mergers, acquisitions, investments, etc. The market size, volume, growth rate, and qualitative and quantitative methods are also outlined therein. Consequently, this report provides an in-depth analysis of the market’s activities and operations in 2020.
Overview of Big Market Research
Big Market Research was established in 2013 to offer qualitative and quantitative analysis about various markets in the world. Also, Big Market Research prides itself as the world’s largest repository research report publisher.
Big Market Research is a private company headquartered in Portland, Oregon, United States. The company has more than 100 employees with offices in India and Canada. Similarly, Big Market Research specializes in the following:
- Global Market Intelligence
- Consulting Services
- Market Forecast
- Market Research Reports
- Business Intelligence
- Syndicated Research
- Industry analysis
It appears that Big Market Research has earned itself a good reputation with its comprehensive research and reporting of various markets over the years. Big Market Research has earned about 78 million in revenue since 2013.
The Effect of COVID-19 on the Online Gambling and Betting Market in 2020
The pandemic halted several sporting effects that were supposed to hold in 2020. Most major sporting events billed to hold around the world were canceled. For instance, the Euro 2020 tournament was canceled and positioned for June 2021. Most bookmakers would have made some profits from bettors if the Euro 2020 tournament took place. Another significant effect that suffered the same fate was the Japan Olympics.
Aside from that, other analysts have argued that 2020 is the best year for the online gambling and betting market. Most gamblers opted for online gambling during the lockdown since the regular land-based casinos were not available. Based on this, most gambling online industries across the world recorded a lot of patronages. The most significant achievements by the online gambling and betting industry include:
- Increased revenue
Reasons to Check the 2020 Online Gambling and Betting Report
Frankly, the report by Big Market Research is comprehensive and apt. In addition, it portends a lot of potential for stakeholders in the industry to improve on their achievements. Below are some of the reasons you need to read the Big Market research:
- It gives stakeholders an idea of what the market will look like in the next five years
- You will understand the key product segments and their prospects
- It will help you understand how to stay ahead of the competition
- Provides in-depth insight into how to make an informed business decision about the online gambling and betting market
Considering the online gambling and betting market’s dynamic nature, stakeholders need high-yielding analysis to develop new market strategies. No doubt, the Big Market Research would provide you with all the details needed to succeed in the online gaming world in the next few years.
Factors Expected to Drive the Online Gambling Growth
No doubt, the COVID-19 pandemic played a significant role in the growth of the industry. More so, the lockdown and various restrictions on land-based casinos also propelled the growth witnessed in 2020. However, other factors that will likely drive the expected growth in the gambling industry are:
- Increased adoption of smartphones
- Availability of cost-effective mobile applications
- Enhanced internet connection
Finally, the gambling market in 2020 witnessed a lot of growth. But to maintain the growth, stakeholders must ensure that most of the factors outlined in the report are followed. Don’t forget, this report includes a market forecast till 2027.