Home / Poker News September 2013 / Online Gaming Sector as Healthy as Ever
Online Gaming Sector as Healthy as Ever
Posted by: James Carter. - Fri, 2013-09-27 11:27
The online gambling and
online poker industries have been through a lot over the last few years. The market has fragmented as various smaller regulated markets were born, limiting free access for most operators, except the biggest ones. In light of that of these facts, the general impression of those working in the industry was that there was a general downturn and loss in revenue.
According to a recent study done by H2 Gambling Capital however, nothing could be further from the truth. The online gambling sector increased by a massive 7.2% in 2012, compared to 2011, reaching the $33 billion mark. The live gambling sector increased as well – also contrary to expectations – albeit by not nearly as much as its online counterpart. Everything considered, the study may even be a tad skewed, since mobile betting/poker/gambling figures were not included in it.
According to the same study, around $2.6 billion of the online gambling revenues were generated by Americans who gambled illegally at offshore operators, backing up the premise of Justin Timberlake and Ben Affleck’s upcoming “Runner Runner”.
According to American Gaming Association CEO Geoff Freeman, the illegal US gambling numbers – which make up almost 10% of the global online gambling revenues at a time when the activity is illegal in the country – point an accusing finger at the ineffective nature of the laws currently governing online gambling.
The need for regulation has never been more stringent than right now, and a chaotic patchwork of state-by-state legalization won’t do either. The black market will continue to thrive in states which choose not to pass legislation.
A federal bill addressing the issue should put age verification and consumer protection systems in place, together with programs to address problem gambling, while creating the tools that make it possible for law enforcement agencies to go after illegal operators.
Sign up to PokerStars and start playing in some of the best live event satellites available anywhere.
