Online Gambling Industry Projected to Reach an Astonishing $565 Billion Value in 2022

The online gambling industry is constantly evolving and catching up with technological trends, aiming to ensure the ultimate gambling experience for all players. Ever since the global pandemic began, the majority of the players were forced to switch from traditional brick-and-mortar casinos to their online counterparts.

Even today when many casinos are re-opened, countless players have chosen to remain to play online, and this is one of the main reasons why it’s estimated that by the year 2022, the whole industry of online gambling is going to reach an astonishing $565 billion according to a recent article by Auralcrave.

The article said: “Casino game developers are continuously improving their games to contend with huge competition. One of the most consequential trends of 2021 was enhanced visual quality that matches modern screen resolutions implemented by the current devices. This trend will resume in 2022, in which the visual quality of games will keep improving even further, aiming to present the players with a genuine online gambling experience that nearly resembles traditional gambling.  Ever since VR devices became broadly available to consumers, online casino companies have recognized the potential of VR and started implementing it in casino games.

Similarly, augmented reality became more widespread in the last couple of years as well. These two technologies allow the players to fully immerse themselves in casino games and experience almost real-life gambling. For instance, players can play at the virtual tables with real people and dealers, using the VR devices while AR allows players to “create” a roulette table on any surface. The sky is a limit when it comes to VR and AR technology, and fortunately, compatible devices are becoming less expensive.” 


Active companies in the markets today include:  Esports Technologies, SharpLink Gaming Ltd., Activision Blizzard, Inc., Las Vegas Sands Corp., Zynga Inc..

Auralcrave concluded: “Although online casinos have been accepting cryptocurrencies as a payment method for some time and it’s not a new thing, it is expected that more and more casinos will adapt to the current trend of cryptocurrencies and begin accepting Bitcoin, Ethereum, and such, as the payment methods. Making transactions using cryptocurrencies makes it so much more straightforward and faster for both players and casinos while maintaining a high level of security and anonymity, so it’s a win-win situation that works for everyone. The online gambling industry has significantly progressed and transformed in the last two decades, and it’s never going to stop evolving and adjusting to players’ interests. 2022 will certainly be the year of many improvements in the online gambling industry, as online casino competition is bigger than ever in history, so many online casinos will do their best to get noticed.”

 

Esports Technologies Files Patent for a Performance-Based Betting System to Facilitate Wagering on Fluctuations in Financial Instruments Online Gambling Industry 

Esports Technologies, a leading global provider of award-winning advanced esports wagering products and technologies, announced today the filing of a new patent application for a “Financial Instrument Performance-Based Pari-Mutuel Betting System and Method.” The system and method implements an electronic betting experience for an event that is comparable to horse racing, but using a group of financial instruments.

The system and method allows bettors to place bets on which “participant” from the pool of financial instruments will win (i.e., experience the largest gain or the smallest drop) over a fixed period of time. Bets can be placed through the system up until a set time endpoint. The system places all the wagers in a pari-mutuel pool and calculates new odds based on the size of each bet. The system pays out based on the finishing position of each item in the pool.

The same method could also be used for any group of items that have a price or index or other numerical value that fluctuates over time.

Bart Barden, COO, Esports Technologies, said, “This concept for pari-mutuel betting on price fluctuations in financial instruments and other assets creates an exciting new wagering experience. This technology would deliver fast-paced action and drive strong engagement among bettors.”

This filing is yet another addition to the portfolio of groundbreaking intellectual property Esports Technologies has built in less than a year. In August 2021, the company filed a provisional patent application for a technology that uses artificial intelligence to generate odds models for use in a betting algorithm for esports tournaments and various stages of a tournament. For this innovative use of technology, Esports Technologies was selected as a finalist in the 2021 Tempest Esports Business Awards.

In June 2021, the company filed a patent covering a proprietary live streaming technology that layers sports and esports wagering across many of the most popular streaming platforms, including Twitch, YouTube, Facebook Gaming, and Hulu, among others.  Online Gambling Industry 

In other technology recent news of interest:

SharpLink Gaming Ltd., a pioneer of game-changing technological solutions and experienced-based services for the U.S. online sports betting industry, recently announced that it has acquired certain assets of FourCubed Management, LLC and 6t4 Company (collectively, “FourCubed”), including FourCubed’s iGaming and affiliate marketing network focused on delivering quality traffic and player acquisitions, retention and conversions to iGaming operator partners worldwide.

SharpLink has acquired certain assets of FourCubed for total consideration of $8.15 million, which consists of $6.5 million in cash and the issuance of approximately 600,000 restricted ordinary shares of SharpLink. The transaction also provides for an earn-out payment of up to approximately 600,000 additional restricted ordinary shares based on the acquired business achieving specific agreed-upon performance benchmarks.

Las Vegas Sands Corp., the world’s leading developer and operator of convention-based Integrated Resorts, recently reported financial results for the quarter ended September 30, 2021.  “While heightened pandemic-related restrictions impacted our financial results this quarter, we were able to generate positive EBITDA in each of our markets. We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are eventually able to travel to Macao and Singapore,” said Robert G. Goldstein, chairman and chief executive officer. “We also remain deeply committed to supporting our team members and to helping those in need in each of our local communities as they recover from the impact of the COVID-19 pandemic.”

We remain confident in the eventual recovery in travel and tourism spending across our markets. Demand for our offerings from customers who have been able to visit remains strong, but pandemic-related travel restrictions in both Macao and Singapore continue to limit visitation and hinder our current financial performance.”

Zynga Inc., a global leader in interactive entertainment, and Forte, a leading developer of blockchain solutions for game publishers, recently announced they have formed a strategic alliance to promote and pursue the exciting opportunities in the blockchain games market, including leveraging Zynga’s intellectual property, brand and community to develop blockchain games that are fun and enduring.

The games industry today is the largest form of entertainment globally—larger than film and music combined—entertaining nearly 3 billion players and generating over $180 billion in annual revenue. Zynga and Forte believe that the evolution of blockchain technology and non-fungible tokens (NFTs) is creating new economic and creative opportunities for game developers, their partners and players.

“Our goal is to bring a new level of quality and fun into Web3 and blockchain games, while also providing a safe and trusted ecosystem that will keep our valued players and communities entertained for years to come,” said Matt Wolf, Vice President of Blockchain Gaming at Zynga. “We’re excited to partner with Forte because of the team’s long–term vision and approach to blockchain solutions and web3 development.”Online Gambling Industry 

 

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