The Global Betting and Gaming Consultants company has recently released the findings of a industry-wide financial survey. According to the Isle of Man-based group, the online gaming market grew by an impressive twelve percent in 2010, bringing the industry’s net worth up to $29.3 billion.
While sportsbetting still remains as the largest single segment of the gaming populace (41%), online casinos and poker rooms have increased in vogue (46%).
Warwick Bartlett, CEO of the aforementioned GBGC, had the following to say on the matter:
“Internet gambling is clearly growing strong roots and becoming more of a mainstream leisure pursuit and our analysis suggests that, with few exceptions, countries are moving to regulation rather than damnation with seven European Union member states bringing forward Internet gambling legislation for 2011.
“This is a healthier engagement with a business certain to continue growing at a rapid rate encouraged by an increasing number of applications developed for mobile phones and the global spread of broadband.”
According to GBGC projections, the internet gambling industry should be raking in more than $40 billion within the next three years. This continued growth comes, in large part, due to the ever-increasing movement of regulation in several of the world’s major nations.
Bartlett has also expressed discontent with a recent Gambling Prevalence Survey, which, he states, is painting gambling in a negative light. Much of the issues arise with improper comparisons and poor classification of the factors involved, revealing some ignorance on the part of the surveyors.
“Gambling is a much less problem for the country than alcohol consumption where 8% of people drink to the point where their health is in danger.
“In 2008, there were 6,769 deaths directly related to alcohol according to the National Health Service. No one died from playing the lottery or having a bet. The survey should also be extended to gambling with exotic financial instruments where the results can be catastrophic, as we have seen since the collapse of Lehman Brothers.”