Study Shows Online Casinos On the Up and Up

February 14, 2011 | News Category: Online Casinos

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A recent research study called "Casinos: A Global Strategic Business Report" was undertaken by Global Industry Analysts. Global Industry Analysts was founded in 1987. The company has been recognized on an international level as one of the biggest publishers of market research. Both land based casinos and online casinos were looked at in the study.

The research study showed that land casino gambling will most likely reach $101.30 billion by the time 2015 comes. The study also noted that online casinos are continuing to be popular amongst gamblers. When looking at land based gambling globally, it is clear that casinos are the largest sector, as well as the most lucrative sector of commercial gambling.

The report noted: "The industry is experiencing competition from rapidly expanding online gambling and an increasing level of public endorsement. Recent trends suggest that major global gambling companies are looking to move large sections of their business online but are faced with a strict regulatory environment."

At this time, it is clear that online casinos, which allow players from all over the world to play against others who live very far away from them, is certainly continuing to grow. Percentage-wise, this phenomenon is still somewhat small when looked at in the larger context of overall global gambling. However, it is noted that the online casino market is expected to boom.

The report explains: "Growth in the online gambling industry is driven by massive consumer demand. Internet casinos are offering the same instant delight as off-line casinos but for a short wait for an electronic transfer of winnings."

The report notes that the "casino gaming industry is now looking at opportunities in new markets in the midst of economic recession."

The report shows that since casino gambling is now seen as an important income source for many countries, those that have legalized gambling increase the taxes on casinos substantially. This increase in taxation makes it fairly expensive for casino operators that are situation in countries that are already developed, with Europe being one of the most obvious examples of this phenomenon. The report continues to note that the "new, emerging Asian markets present robust growth prospects."

The report is mostly about land based gambling, however, it does note that online casinos, or at least the more established online casinos, are on the up and up. "While large online casinos are expected to witness a healthy growth, the relatively smaller ones are projected to exhibit negative growth rates in the near future."