Online Gambling Market Increases
Global Betting and Gaming Consultants (GBGC) have released a report showing the growth of the online gambling industry in 2010. Figures in the report show that by the end of 2010, the online gambling market was up to $29.3 billion (£18.3 billion).
The report also looked at the different areas of online gambling and found that sports betting is leading the way with 41% of total activity. Behind sports betting was online casinos and poker, which were responsible for a combined total of 46%. However the real success story of the year was online bingo with predictions being made for revenue to almost double to $2.1 billion (£1.3 billion) by 2013.
Other interesting issues arising from the report includes the expectation that online gambling will bring in $41.7 billion (£26 billion) in the next three years. In addition to this, it is likely that we will see a number of jurisdictions begin to offer some form of online gambling meaning that there could stand to be even higher revenue potential.
Speaking about the possibility of more areas for regulated online gambling, chief executive officer of GBGC, Warwick Bartlett said: “Countries are moving to regulation rather than damnation with seven EU states bringing forward internet gambling legislation for 2011.”
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