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Future Online Casino Revenues Slammed by American Ban

1 Feb 2007

With the passing of the UIGEA, or Unlawful Internet Gambling Enforcement Act last October by the US Congress, the future of the online casino industry has been foggy at best. Many experts, owners and operators belonging to the online casino industry do not have a clear idea of what to expect in the near future regarding the world of online casinos. In terms of gross value of bets placed, according to industry experts, mobile gambling, a growing and popular sector of the online gambling market, will now go from a market worth US 1.35 billion in 2006 to US 16.6 billion by 2011. While that is a substantial growth in revenues, it is US 6.4 billion dollars short of the company’s own prediction just over six months ago.

‘Following the tightening of legal barriers to all forms of online gambling in the USA we decided to revisit our market forecasts as clearly the environment had changed. We have certainly dramatically cut back forecasts for the development of the North American market,’ said author Bruce Gibson about the online casino industry outlook for the mobile gambling sector. The ban shifted the focus to the markets of Europe and Asia Pacific for online casino operators and companies.

These markets are now expected to contribute over 80 percent of the total value. Given an estimated US 665 million dollars worth in bets placed in 2006, Europe is, at present, the largest online casino market for mobile gambling. However, it is forecast to be overtaken by the Asia Pacific market by 2008. This market is expected, in turn, to reach over US 6.7 billion dollars by 2011. Online casino sports betting is currently the largest sector, but lotteries are predicted to take the top spot by 2010, according to this researcher.

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Future Online Casino Revenues Slammed by American Ban