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GLOBAL ONLINE GAMBLING GROWTH SLOWS
Tuesday June 02,2015 : GLOBAL ONLINE GAMBLING GROWTH SLOWS
Five reasons for slow down.
The latest edition of Global Betting and Gaming Consultancy's international Global Gambling Report reveals that global Internet gambling continues to grow, albeit at a slower pace than most would have expected.
The consultant has put forward five reasons for this slow down:
1. Rapidly growing Asian casino markets have had a higher rate of growth than interactive gambling in the period of the report.
2. Internet gambling has consequently not been able to grab a substantially greater share of the total gambling market.
3. In Europe internet gambling companies now have to locate onshore in most states and this leads to higher regulatory cost and taxation which over time leads to less resources to invest in marketing and stimulate the product offering.
4. US state lotteries should be making more of a contribution to internet gambling but have not so far fully embraced internet or mobile sales.
5. A declining internet poker market is also limiting internet gambling ability to claim a greater share of global gambling.
Any regulation of internet poker in a major US state would have an impact for internet gambling to claim a greater share of global gambling, with California potentially providing a significant boost, GBGC observes.
The Isle of Man-based consultancy notes that the key drivers for future internet gambling to grow are still in place namely:
1. Global roll out of broadband continues;
2. Widespread use of smart devices such as tablets and phones - 54 percent of UK homes now own an Apple iPad (source Ofcom).
3. Continued broadcasting of major sporting events on television is stimulating in-play betting which now represents more than half of wagers on sports.
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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