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Bright Future for Online Gambling, Says Ernst & Young

September 28, 2009 (CAP Newswire) — Video game consoles have become remarkably inexpensive recently, with gaming companies getting more competitive as the consumer electronics market weakens along with the general economy. But according to highly respected market research firm Ernst & Young's U.K. branch, online gambling may be the one part of the gaming market that has a bright future.

According to the Birmingham Post, innovation in the online gambling industry is propelling that market to a better place than other video game interests.

Even with a dramatic reduction in consumer confidence and loss of disposable income, the online gaming industry in the U.K. has enjoyed robust trading, with a significant number of companies in the bingo and lottery markets not only maintaining but even expanding their online presence.

“Online games provide a form of escapism for people during the difficult times and the potential audience is huge – anyone who has an internet connection,” the article quoted Jim Bowden, senior manager in Ernst & Young UK’s betting and gaming team. “The past year has seen continued growth and innovation in this area. Online games are a fun, cost effective alternative to other leisure activities during an economic downturn.”

Click here to read the full story at the Birmingham Post.