Online Gambling Industry Grows To $29.3 Billion In 2010

Over the past year the global online gambling industry has increased by 12% and is now valued at a staggering $29.3 billion, according to a recent report released by ‘Global Betting and Gaming Consultants.’
Breaking down the impressive figures, sports betting accounted for 41% of the tally, online casinos and online poker a further 46%, while in 2010 bingo also contributed a respectable $1.3 billion.
In addition, the gaming report said it also believed online gambling was becoming a much more accepted part of mainstream activities, especially poker which has brought a great deal of positive attention and business to the gambling industry as a whole.
At current rates, the report said it believes the online gambling industry would be worth around $40 billion by 2014. Furthermore, if in the meantime the US were to regulate their own gambling industry then that figure would rise even more dramatically.
Commenting on the positive figures, Gaming Analyst Steve Schwartz reiterated the hugely optimistic predictions for the future of the industry and said:
“With the amount of countries that have legalized some form of online gambling, that number will most likely continue to grow over the next decade. If that is the case, the industry could become one of the most relied on in the world when it comes to tax revenue created.”
For instance, tax revenue from online gambling has become an increasingly valuable source of income for cash strapped governments across Europe in the wake of the global economic downturn.
As a consequence of many countries now having deregulated their gambling industries, Europe has become the world’s biggest online gambling market accounting for $12.5 billion of the industry’s $29.3 billion total revenue in 2010.
As director of European public affairs at Betfair, Tim Phillips, explains:
“The gambling business is one of Europe’s real success stories online. This is a business in which Europe leads the world.”

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Maryland Casino Revenue Up 6% to $143m in April
11 May 2018
Maryland’s six casinos generated gross gaming revenue (GGR) of $143.5 million in April, marking a 5.7% increase compared to the $135.7 million collected in the same month a year ago. As a result, the Free State has now returned four consecutive months of gains this year, providing much needed assistance to the Education Trust Fund,