The global online gambling continues to grow at a rapid pace, especially after COVID-19. Both big and small gaming developers and iGaming operators are reporting an increase in revenue boosts. Kambi, a reputed supplier of sports betting technology recently predicted that its revenue will shoot up to $718 million by 2026. The company provided this prediction during a presentation at a virtual event called Capital Markets Day.
The betting supplier estimates that it will achieve the above-mentioned figure provided all its assumptions materialize. Kambi has also provided this prediction that the online betting market could become worth €63 billion in the following five years. And if this happens, Kambi’s revenue will be in the range of €400 million to €600 million.
Kambi’s latest financial reports record a Q1 revenue increase of 55% to €43.2 million. The company owes this success to an action-packed sporting calendar and the rapid growth of the US market.
The company says that locally regulated markets account for 87% of this revenue. The most reliable sources of revenue for the company were the Americas, which contributed more than 60% of the total revenue figure while Europe contributed less than 40% of the revenue.
During the first quarter of 2021, Kambi signed several strategic deals, including a partnership agreement with Racing and Wagering Western Australia and a deal with Casino Magic. As a result, the company launched a new sportsbook in Argentina and extended its partnership deal with Napoleon Sports & Casino.
The company now offers its services in 14 US states. It has seven retail properties and five online skins in Michigan and nine retail properties and seven online skins in Pennsylvania. The biggest contributor to the company’s boosted revenue in the US was college basketball.
After the first quarter of 2021, Kambi assisted in launching a new Casumo Sportsbook in Spain. At the same time, Churchill Downs Incorporated, Kambi’s partner, launched sportsbooks in Indiana, Pennsylvania, and Colorado.
Kristian Nylen, the CEO and co-founder of Kambi, said that the company has demonstrated consistent growth over the past several years, but is still at the beginning of a long and eventful journey will several fabulous opportunities waiting for it in the future. According to Nylen, the company has established itself as one of the trusted sports betting partners of the international betting industry.
Kambi has grown in spite of the fact that its biggest client DraftKings is planning to migrate to the SBTech platform. DraftKings had acquired SBTech in 2020 and plans to migrate to the SBTech platform in the following quarter of this fiscal year.
Online Gambling Industry Expects Revenue Boost in 2021 – 26
The online gambling industry predicts a CAGR of 11.94% during 2021 – 26. Online casino gaming and online sports betting became profitable during the pandemic as social distancing norms and global lockdowns forced people to look for ways to keep themselves occupied and entertained.
According to a research report from Sweden’s Lund University, online gambling platforms became popular when sports events were restricted during lockdowns. During the forecast period of 2021 – 26, online betting is expected to grow at the fastest pace.
The industry has witnessed some interesting developments such as the increase in the number of women players in online casinos and the introduction of cashless payment systems. Moreover, online gambling companies are expected to expand their offerings following the legalization of sports betting in several US states.
How to Find the Best Online Casinos and Bonuses
If you are a US resident looking for the best online casinos and bonuses, we suggest visiting NoDeposit365, a popular bonus site for US players. NoDeposit365, a popular bonus site for US players is committed to bringing players the best no deposit bonuses in the market every single week.
Many US states like Pennsylvania, New Jersey, Delaware, and others offer licensed online casinos, but you have to be physically present in those states to play at these online casinos. US players also have the option of signing up at offshore online casinos that accept them and support play in USD.
As finding safe, secure, and licensed online casinos for US players is difficult, the experts at NoDeposit365 have done the hard work of finding, researching, reviewing, and rating a number of US-friendly online casinos. This makes the task of US players easier as they only have to browse casino lists, read reviews, and sign up at an online casino they like best.
US online casinos are just as good as online casinos catering to players from the rest of the world. They offer amazing welcome bonuses, run lucrative promotions and tournaments, and offer the best games from US-friendly software providers like Real Time Gaming (RTG), Rival, Betsoft and others.
Also, some of the online casinos listed at NoDeposit365 support Bitcoin. Payment options are limited for US players because of legal restrictions. As Bitcoin doesn’t come under the control of any state or financial institution, US-friendly online casinos can legally offer Bitcoin as a casino payment method. In addition, they also reward Bitcoin players with generous Bitcoin bonuses.