Online Gambling Doubles In Years To Come

iGaming Business released results of a survey which indicates a postive trend and it predicts that the online gaming industry will more than double in  years to come. The report indicates that the industry could grow by as much as 80 percent from 2010 to 2014. By the end of this year the online gambling industry will be worth $4.7 billion globally this pertains to gross gaming revenues.
This figure could  increases to well over 1 billion by the end of 2012,  amounting to $7.1 billion at the end of 2014 which is a 79% increase compared to revenue generated at the end of 2009. The iGaming report also tracks recent trends and strategies of successful operators, and gives a comprehensive breakdown of the history of the online casino industry and statistics on starts-ups and expanding enterprises within it.  Successful operators average $1.5million in start-up costs which is far less than land-based casinos that require up to $300 million to start and operate.

The report outlines larger non-gambling entities like media companies looking to expand into other niche markets or to monetize existing online space. In turn many companies are now turning their gaze to the highly successful online gambling market.

Rachel Church-Sanders, author of the report stated that each online casino operator is looking to participate in a sector which is becoming socially acceptable and are benefiting from liberalized regulatory structures in certain markets. This in turn has lead to a substantial growth across many key demographics that have previously been difficult to reach through other types of gaming or betting, for example women. The growth in social networking, mobile applications and micro transactions, as well as the growing number of people across the globe with access to broadband internet connections and wireless internet are all contributing factors to the positive future outlook for the casino sector.

Most casino operators are already integrating social networking sites and smart-phone applications into their marketing strategies attracting and retaining new and younger players, however, the success of these strategies are not fool proof.

There are those who disagree with the findings of this survey, citing increased restrictions and regulations by governments to crack down on online gambling. Citing economic recession and increased competition in the market are causes for concern and projections of lower profit figures. Church-Sanders is of the opinion that the industry consensus indicates that successful operators will continue to provide a wider variety of games and be successful.



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