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GLOBAL ONLINE GAMBLING MARKET NOW WORTH $29.8 BILLION
December 9, 2011 : Latest Research and Markets study shows annual growth averaging 13.7 percent
The respected research group Research and Markets has released its latest study of the global online gambling market, showing gross gaming win (the total amount waged by customers minus the total amount paid out to customers as winnings) of $29.8 billion in 2010.
Highlights in the report, which is available from Research and Markets.com, include:
- The global online gambling market has enjoyed an average compound annual growth rate (CAGR) of 13.7 percent between 2006 and 2010.
- The sports betting segment was the market's most lucrative in 2010, with total gross gaming wins of $12.2 billion, equivalent to 41 percent of the market's overall value.
- Market performance is likely to decelerate, with an anticipated CAGR of 9.1 percent for the five-year period 2010 - 2015, and this is expected to drive the market to a value of $46.1 billion by the end of 2015.
SETBACK FOR AUSSIE ONLINE GAMBLING OPPONENT
Inquiry rejects online gambling bill proposed by Sen. Xenophon
Australian Internet gambling opponent Sen. Nick Xenophon's Interactive Gambling Bill was given the thumbs down by a Parliamentary Joint Select Committee on Gambling Reform this week.
The bill tabled in June this year, targeted the prevention of online transactions to offshore betting site's along with a reduction in gambling advertising and banning live betting during sports events.
The Committee majority found the bill impractical on the suspension of transactions saying: "Electronic transactions involving multiple parties are conducted in a matter of seconds, making a request to suspend or cancel them unfeasible.”
Citing the potential for moral hazard by gamblers, knowing that if they lose they can request a reversal on the transaction, may lead to more reckless gambling behaviour said the Committee.
Steven Munchenberg, chief executive of the Australian Bankers' Association's alternative proposal involving a blacklist of illegal operators was also rejected, according to The Australian.
Summarising, the Joint Select Commitee said: “We do not support the introduction of any form of financial transactions or payment controls. We recommend the bill not be passed”.
Around twenty recommendations have been put forward by the Committee mostly surrounding sports betting such as: a company logo ban on jerseys, prohibition of live odds promotion, a ban on betting advertising during times when children may be watching, and restrictions on team product merchandise that promote sponsors.
The Committee has called for more research undertaken on a National level before reaching consensus on the topic of online gambling.
Gambling News :
Live Dealer Now At Slotocash -
Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
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