Online Gaming — A Sure Bet

NetworkNewsWire Editorial Coverage


New York, NY – May 9, 2022 – Every gambler is on the lookout for a lock, but as every gambler knows, the only sure way to double your money is to fold it over and tuck it in your pocket. Humanity’s penchant for gambling traces back to state-run lottos in 200 BC China to the first U.S. online lotto in 1994 and now proliferates across the globe on PCs and mobile devices. Transacted through internet platforms, online gaming (or internet gambling) offers inventive games of chance as well as virtual poker and sports betting. The online gaming market is booming, eclipsing $70 billion last year, and all manner of casinos and upstart platforms are scrambling for a piece of the action. As lucrative as this all sounds there’s an Achilles heel for these platforms: customer acquisition cost vs. customer lifetime value. In the United States, the customer acquisition cost for an online casino player is more than $500,  and some estimate player value at $300 or less. The math simply doesn’t work, and some online casino operators have come to realize that traditional advertising for sports betting and iGaming products presents an irrational cost of customer acquisition. With the online gaming market expected to explode to more than $130 billion in the next five years, there may be a smarter way to cash in on the action. Much like the merchants that made millions during the gold boom while prospectors panned for dreams, providing B2B services such as online gaming platforms, systems and gaming content has proved to be a winning business model. Coming off its 14th consecutive quarter of profitability, Golden Matrix Group Inc. (NASDAQ: GMGI) (Profile) continues to carve out enviable market share by delivering state-of-the-art configurable and scalable white-label B2B gaming platforms for its customers across the globe. Golden Matrix’s gaming IP includes sophisticated tools for marketing, acquisition, retention and monetization of users — exactly what iGaming operators need. With more than 580 unique casino operations, 30-plus partnerships, 6 million-plus end users and 3,161 original games, Golden Matrix has established itself as one of the world’s leading providers of turnkey and white-label gaming platforms, Esports technology and gaming content, and the company has even bigger plans for market dominion. All the major casino operators, including Caesars Entertainment Inc. (NASDAQ: CZR), Penn National Gaming Inc. (NASDAQ: PENN), MGM Resorts International (NYSE: MGM) and Las Vegas Sands Corp. (NYSE: LVS) are trying to entice users to download their apps as they fight for a piece of the online action and struggle with customer acquisition costs.


  • Global online gambling market reached $72.3 billion in 2021 and is expected to exceed $131 billion by 2027 with a CAGR of nearly 10%.
  • Coming off 14 consecutive quarters of profitability, Golden Matrix Group just uplisted to NASDAQ.
  • Primarily in Asia, GMGI has an aggressive international growth strategy including its recent purchase of RKings, one of the UK’s leading independent online competition companies.
  • Golden Matrix’s platforms are completely scalable with an operating cost similar for 100 or 1 million players.


Click here to view the custom infographic of the Golden Matrix Group editorial.


Online Gaming Boom


Brick-and-mortar casinos amp up excitement with bars, restaurants and live music, and if playing online, excitement accelerates with a shower of loyalty points. Winning might not be guaranteed, but the entertainment and excitement entice clients to come back. Now the excitement has reached a fever pitch. According to IMARC Group, the global online gambling market reached $72.3 billion in 2021 with projections to reach $ 131.4 billion by 2027, with a CAGR of 9.96% during 2022–2027.


Strong structural forces are expected to carry the market well beyond the pandemic surge, which introduced millions of new players to online gaming. IMARC cites rapid urbanization along with increased global penetration of the internet for the growth. Legalization, technological advancements, high-profile sponsorships and cultural acceptance of online betting are all boosting market growth. Other factors such as easy use of mobile phones and the advent of Bitcoin gambling are expected to further drive the market.


From Boom to Bonanza


The online gambling boom has become a bonanza for Las Vegas-based Golden Matrix Group Inc. (NASDAQ: GMGI). The company is capitalizing on every aspect of the surging demand in online gaming and delivering exactly the products and services the sector wants — and needs. The innovative gaming tech company develops and owns a broad array of online gaming IP, supplying configurable and scalable white-label B2B gaming platforms for its international customers, who are located primarily in the Asia Pacific region. GMGI’s cutting-edge gaming IP includes all the sought-after tools operators need for customer acquisition, retention, marketing, and monetization of users. This is the stuff operators covet to reduce acquisition costs and increase customer value. Little wonder that quarter over quarter, GMGI has consistently posted record revenues and earnings, showing an impressive 14 consecutive quarters of increased profitability.


Golden Matrix’s platform can be easily accessed through both desktop and mobile applications and optimizes a B2B client’s ability to address a wide range of gaming choke points including transaction management, loyalty and reward programs, and other functions that operators depend on. GMGI supports the widest swath of player engagement by accommodating both free and cost-to-play games.


The company’s white-label social gaming platform is unparalleled in both mobile and desktop website deployment and is compatible with all major operating systems and web browsers. In addition, GMGI’s sophisticated software also automatically declines any gaming or redemption requests from any restricted jurisdiction.


The New Paradigm


A pioneer of industry innovation, Golden Matrix has established a new paradigm for gaming platforms and offers what may be the industry’s most extensive game portfolio. Golden Matrix’s configurable and scalable gaming platform, GM-X System, grants access to more than 10,000 games across 25 different providers. The GM-X Turnkey Solution is a complete software package for starting and operating an online gaming business. Designed with industry best practices, GMGI’s solution is integrated with thousands of games from industry-leading content providers.


The GM-X Turnkey Solution offers a full suite of tools and features for successfully operating and maintaining an online gaming website; from player registration to user management and payment solutions to content management. With GM-X, operators have all the required elements to customize and operate their own gaming site.


GMGI’s GM-X White Label Solution is the fastest way to start an online gaming platform from scratch, providing clients with licensing, accounting, management, support, and gaming content. It’s effectively utilized by operators that want to focus solely on marketing and move quickly into new markets with a proven set-up. GM-X offers both desktop and mobile sites based on the desired aesthetic, with best in class ready-to-go gaming content.


The GM-X Direct Integration Solution offers operators quick access to GMGI’s entire gaming portfolio and acts as an integration layer between the operator and content provider, on top of the GM-X aggregation system. Leveraging the GM-X Direct Integration System, clients can quickly enter new regulated markets with the most relevant country-specific multi-lingual content for their audiences.


Market Dominance


Golden Matrix has partnered with some of the largest and most expansive iGaming operators in the Pacific Rim, and the company has designs on numerous other global venues. GMGI’s current 30-plus gaming partners dominate the Asia’s online gaming market, seamlessly delivering innovative games and premium brand titles. Not satisfied, Golden Matrix is on a mission for global dominion.


With a European gaming license secured, Golden Matrix announced in December a purchase agreement to acquire an 80% controlling ownership interest in UK-based RKings Competitions Ltd., one of Ireland’s and the UK’s leading independent online competition companies. RKings is a well-established, business-to-consumer skilled tournament company with revenues that exceeded $29 million and annual net income of more than $2.4 million during the fiscal year ending Oct. 31, 2021. Synergistic with the GMGI’s B2B business, the accretive acquisition has already provided significant revenue contributions, and Golden Matrix is actively expanding its reach.


In March, Golden Matrix announced it had applied for a Mexican gaming license and, once approved, plans to offer iGaming in Mexico and launch the RKings tournament platform in the country. This opens compelling new opportunities in the vast Latin America B2C market, and it will begin the expansion of the RKings tournament platform to regions outside of the United Kingdom. Golden Matrix is confident that, in addition to casino games and sports book betting, RKings will be received enthusiastically, generate significant revenues, and boost overall profitability. GMGI also intends to expand into the United States, specifically New Jersey. The company has big plans for a new U.S. operation and is creating a platform for esports gamers to wager bets against other players.


To facilitate and enhance global growth and visibility, Golden Matrix also recently uplisted to NASDAQ. As CEO Brian Goodman stated, “Uplisting our common stock to Nasdaq is extremely important to Golden Matrix, at a time when we are expanding rapidly and entering into new global markets. We expect the uplisting to significantly improve the company’s visibility, broaden our base of both retail and institutional stakeholders, and lead to enhanced long-term shareholder value. Additionally, we believe this uplisting will further strengthen our ability to execute on the company’s acquisition strategy with the goal of accelerating both revenue and profit growth going forward.”


Given the company’s impressive track record to date, it certainly appears that global dominion is the goal and is within reach. Golden Matrix understands that luck is what happens when preparation meets opportunity.


Seeking Share


In spite of the challenges, every major player in the online gaming space is seeking share in the booming market as they search for ways to lower acquisition costs and increase player value.


Caesars Entertainment Inc. (NASDAQ: CZR) is the largest casino-entertainment company in the United States and one of the world’s most diversified gaming-entertainment providers. Caesars Entertainment offers diversified amenities and one-of-a-kind destinations, with a focus on building loyalty and value with its guests through a unique combination of impeccable service, operational excellence and technology leadership. Caesars Online Casino offers a variety of games in legal jurisdictions.


Penn National Gaming Inc. (NASDAQ: PENN) is a highly innovative omnichannel provider of retail and online gaming, live racing and sports-betting entertainment. The company’s wholly owned, online gaming arm, Penn Interactive, operates retail sports betting across the company’s portfolio, as well as online social casino, bingo and iCasino products. Penn Interactive aims to create the best online gaming customer experience available anywhere using creative outreach, innovative product design and world-class engineering.


MGM Resorts International (NYSE: MGM) is a global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, live and theatrical entertainment experiences, and an array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. MGM offers U.S. sports betting and online gaming through market-leading brands, including BetMGM.


Las Vegas Sands Corp. (NYSE: LVS) became one of the world’s largest publicly traded gaming companies by focusing on land-based casinos in Macau and Singapore and pioneering the meetings, incentives, convention and exhibition- integrated resort concept. LVS made its long-awaited foray into digital gaming in July 2021 by creating an investment arm dedicated to that effort aiming to be a “strategic investor” in digital gaming on the businesses-to-business side of the industry.


Gamblers know that there’s no sure bet. Good gamblers calculate odds and wager strategically when they see an opening and opportunity. They know that luck happens when preparation meets opportunity. There’s consensus that the online gaming market is on a major upswing — it may be time to strategically place a bet on what looks to be a big winner.


For more information on Golden Matrix Group Inc. (NASDAQ: GMGI), please visit


About NetworkNewsWire 


NetworkNewsWire (“NNW”) is a financial news and content distribution company, one of 50+ brands within the InvestorBrandNetwork (“IBN”), that provides: (1) access to a network of wire solutions via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible; (2) article and editorial syndication to 5,000+ news outlets; (3) enhanced press release solutions to ensure maximum impact; (4) social media distribution via IBN millions of social media followers; and (5) a full array of corporate communications solutions. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience comprising investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.


To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)

For more information, please visit:

Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published:


NetworkNewsWire is part of the InvestorBrandNetwork


DISCLAIMER: NetworkNewsWire (NNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with NNW or any company mentioned herein. The commentary, views and opinions expressed in this release by NNW are solely those of NNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable NNW and FNM for any investment decisions by their readers or subscribers. NNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.


The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, NNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer’s filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer’s securities, including, but not limited to, the complete loss of your investment.




This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and NNW and FNM undertake no obligation to update such statements.


Corporate Communications Contact:

NetworkNewsWire (NNW)

New York, New York

212.418.1217 Office


Media Contact:

FN Media Group, LLC



Source:  NetworkNewsWire