- Physical casino visits never recovered from COVID-19 restrictions
- Online gambling industry growing rapidly at CAGR of 11.7 percent from 2022 to 2030, expected to reach $153.6 billion by 2030
- Esports, social gaming, online poker tournaments, relaxed legislation driving user growth
- GMGI offers B2B partners access to 10,000+ games from over 25 leading game providers, aims to launch Esports betting platform
Recent technological advances have made online gambling easier, more convenient, and more enjoyable for some users when compared to a physical casino experience. Golden Matrix Group (NASDAQ: GMGI), a developer and licensor of online gaming platforms, systems, and gaming content, continues to leverage technological advances and incorporate them into its turnkey B2B solutions for online gambling operators.
GMGI appears to be on trend with the movement of users online, and away from physical gambling which has not recovered from COVID-19 business restrictions. According to a recent report by the Las Vegas Convention and Visitors Authority, visitor numbers grew by roughly 69.4 percent between 2020 and 2021, however are still down 24.2 percent when compared to 2019 (https://ibn.fm/rLen1). Several factors aside from COVID-19 shutdowns drove the trend, including the release of new iGaming offerings, increased sports betting, online poker tournament participation, mobile device proliferation, and widespread legalization throughout the world.
Grand View Research expects the trend to continue at a CAGR of 11.7 percent from 2022 to 2030 (https://ibn.fm/W4rFo). Analysts at the consulting and research firm pegged the industry at $65.53 billion in 2022 and expect revenues to reach $153.6 billion by 2030. Legalization of gambling in countries such as Germany, Italy, France, Spain, and Malta led to Europe’s 41 percent market dominance in 2021, however Asian countries such as Japan are rapidly taking market share as regulations relax throughout the world.
Besides emerging technological trends, the industry is maturing to offer an exciting experience unique to the online world, exemplified by the growth of Esports. Organized Esports competitions featuring professional players give audiences the thrill of live video game action while offering gamblers opportunities to bet on outcomes via secure platforms. Along with Esports, other offerings like social gaming are emerging, offering users opportunities to play online, win prizes, gain points, and earn virtual currency.
Golden Matrix leads the industry in providing turnkey B2B iGaming and Esports solutions for operators looking to enter the sector. Easily customized and highly modular, the company’s solutions are compatible with all major browsers, operating systems, and devices. In addition to offering B2B partners access to 10,000+ games from over 25 leading game providers, CEO Brian Goodman recently revealed the company’s plans to launch an Esports platform on Benzinga’s Esports Listmakers Series (https://ibn.fm/6WEbP).
Based in Las Vegas, Nevada, Golden Matrix develops and owns online gaming intellectual property that includes configurable, modular, and scalable white-label B2B gaming platforms used by 600+ unique global casino operations. With critical IP that includes AI-optimized tools to retain and monetize users, GMGI is positioned to lead the industry in offering profit-maximizing solutions for its B2B partners.
For more information, visit the company’s website at www.GoldenMatrix.com.
NOTE TO INVESTORS: The latest news and updates relating to GMGI are available in the company’s newsroom at https://ibn.fm/GMGI