The online casino industry is a multibillion-dollar industry that is forecasted to continue growing at a significant pace. As per a recent market report, the online gambling market is set to grow at a Compound Annual Growth Rate (CAGR) of 8.1% from 2019 through to 2024. However, the industry has been dominated mostly by a handful of companies so far.
It may seem like there are many hundreds of brands vying for an online gambling market share. However, the truth is that a lot of brands are usually subsidiaries of just one company. An example of this would be the Kindred Group. The Kindred Group is one of the world’s biggest betting companies with various brands under their belt such as 32Red, iGame, MariaCasino, RoxyPalace, United, and several others.
With plenty of technology advancements, especially in fields like AI and VR, cryptocurrency, and more, there are bound to be new companies and new casino apps entering the playing field.
Given the phased, state-wise, opening up of the online gambling market in countries like the US and others around the world, many online gambling startups are beginning to pop up in a bid to get a slice of these several hundred-billion-dollar pies. Startups being startups, there have come forth many innovative spins and takes on online gambling. Let’s take a look at a few of the hottest startups in 2020 hoping to stop the domination of big boys ruling the industry.
1. FanDuel
FanDuel barely fits into the categorization of a startup. However, compared to the age-old online casino tycoons, it is a fresh brand in the market. FanDuel offers an online casino, sportsbook, and betting on racing, but they are most well known for their fantasy sports competitions,, which is their unique selling point.
Watch the stock price
Those that have a good understanding and insight into a particular sport will love playing fantasy sports. Playing is easy; you draft your team with players in positions that you think would work well. If and when the players you have drafted perform well and score points, these points are added to your fantasy team total, and you rise in the ranks to win great real money prizes.
FanDuel offers fantasy sports competitions for the following sporting leagues and tournaments – NFL, NBA, NHL, MLB, Soccer, CFB, Golf, Tennis, NASCAR, WNBA, and CBB.
FanDuel is already popular in the US and is gaining traction in other parts of the world. They have apps for Android and iOS mobile devices.
FanDuel started as a backyard Texas brainstorm between 5 co-founders is now a huge player in the multibillion-dollar fantasy sports and online gambling industry.
2. Youbetme
Youbetme is a privately held company which claims to be the #1 social betting app. It is available for iOS devices only at this time. Youbetme was founded in 2012, and the headquarters is situated in San Francisco, California.
Great interface
Some of the unique features that Youbetme offers include custom bets and predictions, which can be about literally anything you and your friends agree on. Bet with friends on professional sports. Bet via SMS (patent applied). Have the ability to include photos and comments to all bets.
Essentially, Youbetme adds a social element to betting where you and your friends can compete and take sports betting to the next level.
Currently, Youbetme is in its last round of Series A funding and has raised US$ 2.7m so far.
3. Betable
Betable headquarters is in Edmonton, Alberta. The company tag line is – The Real Money Gaming Ecosystem, Connected.
Betable’s vision is to transform the betting industry by democratizing the industry that is currently hard to penetrate due to high barriers to entry. Betable offers a full-stack solution for online casinos and sports betting platforms,, facilitating a smooth entry into the market.
Betable’s three pillars are Namely, Wallet, Reach, and Engine.
‘Wallet’ is basically a payment solution that is universally recognized. It is coupled with a payment and loyalty ID, which can be used across the Betable ecosystem.
‘Reach’ is a feature that helps the casino or sportsbook operator understand player behaviors and patterns through actionable analytics and offers admin tools to the operators such as content management, player relationship management, and acquisition, distribution, and discovery tools.
Lastly, the Betable engine is a blueprint that developers can use and modify to create their own real money game of any type and theme without burdening them by acquiring a license or ensuring compliance.
4. Jackpocket
If you are based out of the US and like playing the lottery, you might want to hear what Jackpocket has to offer. Jackpocket is a mobile app where you can securely order official state lottery tickets right from your pocket.
Jackpocket is very convenient for the player, but it also benefits the states by driving incremental revenue that can be used for public education, veteran’s assistance, and more.
Jackpocket also is a great introduction to the lottery for the younger generations, like the millennials who otherwise would not have considered playing the lottery at all.
Others
There are a few other noteworthy mentions when it comes to startups, which are revolutionizing the online gambling industry. Invoost brings to you Fantasy sports for the stock market! BetBoost is like Twitter for bets, and Skill in Games is an app that measures your poker skill level.
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