Online Gambling Growing

October 6, 2008

According to a recent report published by Global Betting and Gaming Consultants (GBGC), the world�s online gambling industry is set to continue to grow at an amazing rate. It is currently running at $345 billion in revenue, and is expected to hit at least $433 billion by 2012.

The 1,000 page report says that online gambling is the new casino of the future. It says that it is expected that many land based casinos will see their revenue going the way of the internet, and if they wish to compete they had better get themselves online casinos as well as land based.

Right now, online gambling is big in the United States, and t is expected that their land based casinos not be able to compete in the world market. With the US not investing anything into high speed rail and destination resorts, much of their revenue will go to the online casinos. People will not want to drive to play at the casino when they can play from their own homes and save the gas.

This is one area where American casinos are already starting to feel the pinch. Land based casinos have already started complaining that their numbers are down, some blaming it on increased competition and others on fuel prices.

The UK is likely feeling similar constraints. It is said that they missed a perfect opportunity to lure in online casinos when the US outlawed them, and instead they let them go. They chose to offer high taxes and fees for registering in the UK, and online casinos chose to go elsewhere with their business.
 

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