Online Gambling: A Truly Resilient Industry
March 9, 2009 (InfoPowa News) — Amply illustrating the resilience and popularity of online gambling despite the tough economic conditions throughout the world, a new report from Global Betting and Gaming Consultants reveals that the $20 billion (U.S.) benchmark for gross gambling yield on the Internet was passed in 2008.
The Isle of Man-based consultancy opines in its current Interactive Gambling Report that the industry is strongly positioned going forward after another generally good year.
Internet gambling will benefit from changing consumer behavior as spending patterns react to the economic circumstances, the report predicts. "Staying in" has become the new "going out" as consumers look to save money on their entertainment, and online gambling is perfectly placed to take advantage of the new trend, offering the convenience, variety, and the value for money that are now priorities for consumers.
"With the events surrounding UIGEA [the Unlawful Internet Gambling Enforcement Act currently under siege by Congressman Barney Frank] in the United States in 2006, the online gambling industry has shown too that it has both the flexibility and the innovation to react quickly," the report claims.
"2009 has started positively for many online operators, and with the prospect of Congressman Barney Frank introducing new Internet gambling legislation in the U.S.A., and France intending to open its own gambling market to competition, there is certainly good reason for the sector to be optimistic about the future," it continues.
GBGC has established credibility as a specialist international gambling consultancy. The company has worked with or supplied information to more than 400 clients, the majority of whom are 'blue chip'.
In addition to its consultancy GBGC has produced four reviews of the global gambling market that have been widely acknowledged to be the best available both in terms of both their detail and accuracy. The latest review published October 2008 extends to over 1 000 pages.
The statistics and forecasts that are contained within the Global Gambling Report have become widely recognised, within the industry, the financial community and the Media, as the industry standard for sizing both the online and offline gambling markets. Consequently GBGC are the most widely quoted source of industry data in share prospectuses and analysts' notes as well as on TV/Radio and in publications as diverse as the Financial Times, Forbes, Time Magazine, BBC Radio 4, BBC Breakfast, ITN news, the Economist and Fortune magazine.