The iGaming market has grown twofold. On one hand, we have an increased number of online players who enjoy the convenience that iGaming provides. And on the other hand, we have an increased number of online casino real money sites that provide the said services to the players. Combine these two developments, and you have a multi-billion-dollar industry. But as you may very well know, in every market, some companies take the lion’s share because of their competitive advantage. We look at the top iGaming companies based on revenue growth and what makes them stand out from the rest.
Which iGaming Companies Take the Cake?
Thanks to the low barriers of entry in iGaming, more companies are coming up as more investors seek to take advantage of its lucrative opportunities. As such, the competition is quite stiff. Even so, some companies manage to top the ranks when it comes to revenue. Which are these companies and why?
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Flutter Entertainment PLC.
This company wins when it comes to portfolio diversification. After all, it has invested in online casinos, sports betting, daily fantasy sports, and more, which are all spread across various sites, including:
- Paddy Power.
- Betfair.
- FanDuel.
- PokerStars.
As you can imagine, this diversification has enabled it to serve a wide audience as it caters to varying needs. What’s more, it also diversifies where it operates, ranging from Europe to Australia. And now, with the US market opening up, this company has already established roots in this emerging market.
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DraftKings.
While other companies are still testing the waters in the US market, whose gambling laws are changing in favor of iGaming companies, DraftKings has already established a fan base in the region. Thanks to its aggressive marketing approach, coupled with diversification into both casino games and sports bets, it already has a lead in the race for numbers.
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Entain PLC.
This company’s edge lies in its strong footing in well-developed and regulated iGaming companies, more so in Europe, which has enabled it to enjoy sustainable revenue over the years. Just like with the other two iGaming companies covered, it also has the following advantages:
- It has invested in the US iGaming market.
- It has diversified its services to include sports betting and casinos.
It also has several brands under its wings, including household names like Ladbrokes.
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Evolution Gaming Group AB.
By using strategic acquisitions to its advantage, this company has slowly but surely expanded its brands to serve the international market. But that’s not all. It has invested quite a lot in live casino technology, making it the go-to for B2B live casino and slot development, which are highly sought-after in the current market.
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Bet365.
A list without this giant would be incomplete. After all, it excels in online sports betting, online casinos, and bingo, all of which are housed within its Bet365 platform. But besides diversification, what makes this company stand out? Expansion. Using deep market penetration techniques, this company has scaled its operations across the UK and Europe and also made its way into newly regulated markets, including the US.
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Kindred Group.
This company has been instrumental in the growth of safe gambling and corporate responsibility, both of which have enabled it to increase its market share in Europe while forging sustainable relationships with licensors in these regions. It also helps that it offers both sports betting and online casinos through its different brands, including Unibet.
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888 Holdings.
With different brands operating within this company, it’s clear that diversification is one of its leading strategies. But its stronghold is not just in diversified services. Instead, it also wins when it comes to strategic acquisition of international assets as well as investing in emerging technologies, all of which enable it to hold on to its dominant position despite the heavy competition.
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Betsson AB.
While other iGaming companies may have their sights set on the US, Betsson is investing more in emerging markets that have a high potential for high growth in the next decade. Key among its choices have been Latin America and Central and Eastern Europe. And just like the other companies on this list, it has diversified, not just its services, but also its brands.
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Playteh PLC.
This company excels in offering full-service B2B software solutions that cater to online casino and online sports betting for operators in the industry. Its success comes down to its ability to adapt its services to match the changing regulations in existing markets while also creating solutions for newly regulated regions, thus making it a reliable partner for online casino and sports betting brands.
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Rush Street.
Like most others on this list, this company excels in offering online casino and sports betting services across its brands, which include BetRivers and PlaySugarHouse. Its success comes down to its unique platform, which excels in cross-selling both sports betting and online casino products, thus ensuring that customers get the best of both worlds. It also helps that it has a localized approach in the US and Latin America, which has enabled it to nurture a loyal customer base.
Following the patterns in these companies, it is safe to say that for an iGaming company to do well, it must offer high-quality services, diversify its market (geographically or through products), and invest in unique strategies to attract and retain customers.
