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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 :

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Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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