Online Gambing Market will almost double in the next 4 years

July 30, 2010

iGaming Business recently released the results of a survey conducted by the group which shows some interesting trends and positive predictions that are sure to set the industry abuzz with debate.

According to the report, the online casino industry’s business could grow by 80 percent between 2010 and 2014.  It is purported that by the end of this year the online casino industry will be worth $4.7 billion globally in terms of gross gaming revenues.  Furthermore, this figure will see increases of over 1 billion by the end of 2012, with figures amounting to $7.1 billion come the end of 2014 which is a 79% increase when compared to revenues generated at the end of 2009.

The iGaming report also monitors recent trends and strategies of successful online casino operators, and gives a complete breakdown of the history of the online casino industry and statistics on starts-ups and expanding enterprises within it.  According to industry insiders interviewed in the survey, successful online casinos usually average $1.5million in start-up costs which is way less than their brick and mortar counterparts with huge staffing needs that require up to $300 million to start and operate.

The report also notes that larger non-gambling entities like media companies looking to expand into other markets or monetize existing online space and content are increasingly attracted to the online gambling market.

Rachel Church-Sanders, the author of the report stated that each online casino operator is looking to participate in a sector which is becoming increasingly socially acceptable and are thereby benefiting from liberalized regulatory structures in some markets leading to substantial growth across many key demographics including those that have previously been difficult to reach through other types of gaming or betting such as women.  She added that 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.

It is definitely true that many casino operators are already integrating social networking sites and smart-phone applications into their marketing strategies to attract and retain new and younger players, however the success of these strategies is still to be proven.

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

Written by admin · Filed Under Casino News, General News 
Tagged:

Comments

Got something to say?

You must be logged in to post a comment.