Online gambling takes many forms from sports betting, to lotteries, bingo, and even casino-like experiences with slot machines and poker. The British by far dominate the online gambling market right now but other countries are starting to edge their way in. Here are some profiles of 5 of the biggest, most powerful, online gambling companies in the world.
#1. International Game Technology (IGT)
Ranked number 1 in both revenue and in technology, IGT is a Brittish company that offers lottery and online casino gaming solutions. They are currently pulling in an impressive $4.83 billion dollars a year which is competitive with traditional brick and mortar casino companies. The Motley Fool reported that in November of 2019, IGT shares jumped up 23.4% in one day. This speaks to investors seeing the huge potential in the company. At the recent ICE London trade show, IGT won “Slot Provider of the Year” and “Best Slot Game” awards. At the same time, the company was commended by Bloomberg for their gender-equality index. They are committed to advancing women’s equality in the gaming industry. To get ready for the influx of US sports betters, they struck a deal with Delaware North Companies Gaming & Entertainment, Inc. This deal will allow them to power retail and mobile sports better in West Virginia and Arkansas.
Another big player from the United Kingdom, Bet365 is an online gambling company that is killing it in the online casino world. Back in 2018, the Australian company topped 35 million happy and loyal players. They also have yearly revenue of over $4 billion. The founder, Denise Coates, is the highest-paid CEO of any British company. She paid herself a salary of $424 million last year, according to Forbes. Bet365 is privately owned and in addition to online gambling, they also own Stoke City Football Club. The company is not with controversy, however, as they battle in the courts about unpaid winnings to this day. Recently an employee came forward with allegations that Bet365 has backdoor algorithms to block winners from placing bets. The alleged algorithm spots potential profit threads and limits what they can bet or outright blocks them. Bet365 refutes this claim by stating a bet is an agreement between two parties and there is “right” to bet.
#3. Paddy Power (Now Flutter Entertainment)
Flutter Entertainment, formerly well-known as Paddy Power Betfair, is a bookmaking holding company that encompasses several brands now. Paddy Power and Betfair merged in 2015. They then also acquired Draft and FanDuel. FanDuel was the leading fantasy sports operator in the US. Online Casino Gems reported in 2019 that Paddy Power purchased Canadian company Poker Stars, thus creating the world’s largest online gambling community. This is in response to US betting laws being recently relaxed. It’s an exciting merger for the company that sees that the online gambling market could top a net worth of $95 billion by 2024. They for sure want their share of that pie.
#4. Scientific Games
Scientific Games Corporation, the only American-owned company to make this top five list, provides gambling products and services to lottery and gambling organizations all over the world. Their slogan is “reimagine play” and they are top of the class in lottery services and provide a point of sale service for Mega Millions and Powerball. They also own some subsidiaries including Bally Technologies and WMS Industries. Their headquarters is in Las Vegas, Nevada. They have been in business through their acquired companies for 85 years and employees over 10,000 people. Their technology powers many global customers such as commercial and tribal land-based casinos, video lottery operators, licensed betting operators, social sites that offer free-to-play casino games, and others. They have an extended partnership with another online gambling company, William Hill.
#5. GVC Holdings PLC
GVC Holdings PLC is one of the largest sports betting and gaming groups in the world right now. They have their own proprietary technology platform and offer casino games, bingo, and sports betting. This PLC holds a lot of brands under its name, such as Bwin, Ladbrokes, Coral, SportingBet, Betboo, Gamebookers, Foxy Bingo, Foxy Games, Gala Casino, and several more. They recently teamed up with MGM Resorts as well who is licensed to operate online poker and casino games in New Jersey. Reuters reported recently that Major League Soccer (MLS) has entered into a joint venture with GVC and MGM reports to partner for sports betting. This made them the first official gaming partner. This came after a US supreme court ruling that allows for states to legalize, regulate, and tax sports better.
Are you surprised to see only one American company on this list? American anti-gambling laws and bank’s disinterest in allowing online gambling transactions to pass through their institutions have put American companies at a huge disadvantage in the past. Laws like the Wire Act, PASPA, and UIGEA limited the US’s ability to contribute much to the field of online gambling. It was much easier for UK companies where gambling and sports betting are legal and less regulated. Tides are starting to change in American however with PASPA being overturned by the Supreme Court and the Wire Act rewritten to allow states to make their own online gambling rules. We might see more American companies getting in on the action in the near future.
In fact, CNBC reports that we may be looking at a “wild west” situation pertaining to legalized sports betting in the US. Currently, FabDuel and DraftKings have 83% of the market share in sports better in New Jersey and Nevada where it was first legalized. Now that more states are starting to legalize sports betting, they are doing so each with their own set of rules. This is sure to cause confusion and gray areas when it comes to owning and operating online gambling companies in the US. This will be an exciting era for online betting and gambling sites for sure.