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New research study finds that online casinos are growing in populari

Posted 2/9/11 : A new research study by Global Industry Analysts predicts that the global market for land casino gambling will reach $101.30 billion by 2015, and notes that online casinos are enjoying growing popularity with the gambling public.
 
In the land industry, the casino sector represents the largest and most lucrative segment of the commercial gambling market, claims GIA, adding that the global gambling industry is in a significant transition phase that has the potential to change the future.
"The industry is experiencing competition from rapidly expanding online gambling and an increasing level of public endorsement," the research company reports. "Recent trends suggest that major global gambling companies are looking to move large sections of their business online but are faced with a strict regulatory environment."
 
Internet casinos that enable players from disparate regions in the world to play against each other is a growing phenomenon, although it still only constitutes a very small percentage of overall global gambling. However, the segment is growing fast and is likely to boom, GIA predicts.
 
"Growth in the online gambling industry is driven by massive consumer demand. Internet casinos are offering the same instant delight as off-line casinos but for a short wait for an electronic transfer of winnings," the report points out. "The casino gaming industry is now looking at opportunities in new markets in the midst of economic recession.
 
"Casino gaming is now looked upon as a vital source for income generation by countries, and the governments are levying heavy taxes on casinos. This in turn is discouraging the casino administration to run casinos in developed countries, especially Europe. In addition, the Casino market in developed countries is saturated, while new emerging Asian markets present robust growth prospects," the report continues.
 
The report is focused mainly on the land industry, and the impact of the recession on major gambling companies around the world, but it notes that in general the international Internet casino sector continued to display steady growth, even during the period of financial crisis, because these online establishments offer extended periods of entertainment for relatively lower stakes.
 
"While large online casinos are expected to witness a healthy growth, the relatively smaller ones are projected to exhibit negative growth rates in the near future," GIA comments.
 
GIA's research has been published under the title "Casinos: A Global Strategic Business Report" and provides a comprehensive casino and gaming industry overview, trends & issues, regulatory environment, associated industries, product innovations, recent industry activity, and profiles of market players worldwide.
 
Founded in 1987, Global Industry Analysts is internationally recognised as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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