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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 :
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
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MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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