Gaming industry insiders are optimistic about the growth of online gaming, but aren’t so sure the Federal government will regulate it anytime soon.
Those are just a couple of the findings of the 10th Annual G2E Future Watch survey.
Optimistic About Online Gambling
Online gaming in the US is a potential gold mine for gaming operators and the survey show just how excited these folks are. A full 61% of them think that the US online gaming market could be worth more than $10 billion in a just a few year. Around 56% of them think that market will be worth between $45 and $65 billion by 2017.
While gaming professionals are bullish on igaming, they’re a lot less confident in their elected officials’ ability to push through legislation regulating it. Only 6% of survey takers thought Congress would pass online poker legislation this year.
When asked if Congress might get something going in the next 1-2 years, that number jumps up to 39%.
Will Online Gambling Be Legalized?
According to the survey, which was released at the Global Gaming Expo in Las Vegas, gaming experts foresee continued expansion of legal online gamine.
A whopping 95% of the people asked said that online lotteries would “probably” or “definitely” be legal within 3-5 years, while 78% of them felt that way about intrastate poker.
One area where pessimism still rules the day is sports betting. Only about half think that it’s going to be legal within 5-10 years.
A rising tide lifts all ships is an old saying that describes the current mood in the gaming industry. When asked whether online gaming would hurt land-based casinos, only 25% of respondents said it would; 55% of them think igaming would very much help the industry grow.
Of course online gaming isn’t the only innovation shaping the gambling world. More than 80% of the people asked said that real money social gaming and mobile gaming would have a big impact on the industry.
Future Watch results are drawn from a survey of 18 top gaming industry executives.
Do you agree with these survey findings? Let us know in the comments section below.