yStats.com, a business intelligence organisation based in Hamburg, released a report on the gambling industry that indicated that this industry is increasing at a steady pace all over the world and that governments are opting to regulate and tax it. It is expected that the worldwide online gambling market will increase at a single digit growth rate until 2019 at which point it will be almost $50 billion in size.
The report also found that people are opting to use their mobile devices to visit gambling websites. In fact, the online gambling business will be driven by mobile devices such as phones and tablets. Furthermore, the increase in the size of the online gambling business has led to the consolidation of various companies in the industry. For instance, Amaya Gaming Group has acquired Full Tilt Poker and PokerStars to becoming a gaming behemoth!
While the industry has grown steadily, the same cannot be said for individual companies that comprise it. While Paddy Power and William Hill have exceeded expectations by registering an impressive 20% in net revenues from the internet, Bwin.Party saw a reduction in revenues.
Europe provided the maximum contribution to the online gambling industry since many countries here have a well-established gambling infrastructure and they have been quick to regulate the online segment. A few more countries are set to regulate gambling because this is recognised as a good source of revenues. Online sports betting was more popular in France, Spain, and the United Kingdom, whereas Italians had a marked preference for casino games. Schleswig-Holstein in Germany was permitted to have a gambling structure separate from the rest of the country. Russia opted to not legalise online gambling, but it put a regime in place to ensure that online betting could be self-regulated.
Singapore, China and South Korea have cracked down on online gambling, with the latter two countries even arresting the promoters of illegal gaming websites. Australia, on the other hand, has permitted foreign players to enter the market and they are very enthusiastic about the helpful gambling regime in the country. The interactive betting sector in Australia is expected to get the maximum amount of foreign investment and participation.
In the case of Africa, the government of South Africa refused to make online gambling legal in the face of demands from various quarters even though the country earned the maximum revenues on the continent from land-based gambling enterprises. The situation in Africa is expected to change very soon and mobile gambling is expected to be very big here.
Three states in the USA permit online gambling, but more states are expected to follow suit because of the prospect of earning good revenues considering that Americans indulge in high volumes of illegal betting on the internet. The state of New Jersey was able to achieve the highest amount of online gambling revenues in the United States. When it comes to Latin America, Brazil and Mexico were planning to put laws in place to legalise and regulate internet based gambling, but the laws were not passed.