Global iGaming Platform and Sportsbook Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global iGaming Platform and Sportsbook Software Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

iGaming is any type of online betting and gambling activity that involves betting on the future outcome of a game or event. iGaming typically includes online casino games and other skill-based games. Sports betting, online casinos, poker, and eSports all fall under the purview of iGaming. iGaming software is responsible for powering online casinos and has virtual game creation capabilities. The iGaming industry ranges from businesses that create online casino games to software providers that provide operators with ready-made casino software solutions, sports betting platforms, management tools, and more.

Sportsbook software is used to manage online bets on a variety of different sports. Expanded features include matches, games, odds, and more, as well as real-time monitoring of betting trends and potential liabilities. Sportsbook software can be used as a standalone solution or integrated into an existing iGaming platform.

Market Overview:

The latest research study on the global iGaming Platform and Sportsbook Software market finds that the global iGaming Platform and Sportsbook Software market reached a value of USD 5839.31 million in 2023. It’s expected that the market will achieve USD 14692.07 million by 2029, exhibiting a CAGR of 16.62% during the forecast period.

Advantages of iGaming Platform and Sportsbook Software

iGaming platforms and sportsbook software providers are responsible for creating games, maintaining infrastructure, processing bets, determining outcomes, and upholding the fair competition protocols required in the gambling industry, ensuring a seamless and secure gaming experience. Modern iGaming platforms typically integrate seamlessly with all external systems, and its benefits include a wide selection of games; fast time-to-market; centralized management of player funds and information; and cross-domain integration. Operators have access to a wide range of high-quality games made by reputable developers. Using the iGaming platform and sportsbook software, casinos and mobile device operators have access to a wide range of high-quality games made by reputable developers, benefiting over the long term from regular updates and new game launches driven by the software provider. Leveraging existing software speeds up time to market because the software is pre-developed and rigorously tested. The provider provides ongoing technical support and maintenance to ensure a smooth gaming experience. The iGaming platform can be easily integrated with different gaming sectors, including sports betting, online lotteries, and live casinos. Sports betting solutions allow for extensive customization and offer options that include additional features and payment methods. Backend management tools enable efficient management of player accounts, promotions, and other key components. Sportsbook software often includes live betting features and real-time data, enhancing player engagement and decision-making. With a powerful API gateway that allows seamless integration with a variety of third-party services, including data source providers, league/sports providers, payment systems, and other back-end services, casinos can easily integrate the software with a variety of third-party instances. Therefore, the advantages offered by iGaming platforms and sportsbook software have led to increasing demand from downstream consumers.

The growth of consumer spending power and the pursuit of leisure and entertainment

The growth in consumer spending power has significantly boosted the growth of the casino games market. In the United States, dual-income households are increasingly common, rising from 51.9% in 2010 to 53.3% in 2019. Dual-income households can be an important source of financial stability and security, and the increase in the number of dual-income households reflects high levels of per capita disposable income. A huge increase in the number of working women globally has led to higher personal income levels, and the combination of longer working hours and higher wages has enabled middle-class families to succeed, so they can spend more on leisure activities such as sports betting. This has increased the affordability and purchasing power of high-end services such as casino games among customers in developed countries. Gambling tourism is becoming more and more popular as busy lifestyles lead to an increased demand for leisure time among modern consumers. Casino hotel resorts have been attracting tourists to areas like Las Vegas since the 1930s. Casinos offer the opportunity to earn serious cash while participating in people's favorite pastimes. Professional players prefer to travel to casinos around the world to showcase their skills and make money along the way. In recent years, travel companies have included casino tours as part of their tour packages, and vibrant new casinos, lively atmospheres, and luxurious resorts have attracted many tourists to casinos as holiday destinations. Overall, the growth of consumer spending power and the pursuit of leisure and entertainment have driven the development of the casino and gaming industry. This has led to increased demand for iGaming platforms and sportsbook software from casinos.

Region Overview:

In 2022, the share of the iGaming Platform and Sportsbook Software market in Europe stood at 47.04%.

Company Overview:

The major players operating in the iGaming Platform and Sportsbook Software market include Playtech plc, Digitain LLC, SoftSwiss Group, Aspire Global, Kambi, etc. Among which, Playtech plc ranked top in terms of sales and revenue in 2023.

Playtech is the world's largest online gaming software supplier traded on the London Stock Exchange Main Market, offering cutting-edge, value added solutions to the industry's leading operators. Since Playtech's inception in 1999, its approach has been centred on the continual development of best-of-breed gaming products and content, and its success built upon strong partnerships with our licensees.

Segmentation Overview:

By type, B2B segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Mobile Devices segment occupied the biggest share from 2018 to 2022.

Key Companies in the global iGaming Platform and Sportsbook Software market covered in Chapter 3:

SoftSwiss Group
Gaming Innovation Group
EveryMatrix Software Limited
OpenBet
Sportingtech Ltd
Kambi
BetConstruct
Aspire Global
Bet Studios Ltd.
BOOKIE.CH
SBTech Malta Limited
Playtech plc
Betlogik ltd
Digitain LLC
Lion Gaming
BetRadar 

In Chapter 4 and Chapter 14.2, on the basis of types, the iGaming Platform and Sportsbook Software market from 2019 to 2030 is primarily split into:

B2B
B2C

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the iGaming Platform and Sportsbook Software market from 2019 to 2030 covers:

Web
Mobile Devices

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)