Online Gambling Industry Grew by 12 point five during 2010

Published on: January 12, 2011 

A respected online gambling monitor has published a report on the gross win in the internet gambling business and has revealed that the online gambling industry grew by a massive 12.5 percent during 2010.

According to the online gambling monitor, the past year saw “egaming” wins totaling $29.95 billion.  Despite the fact that a portion of this increase was due to the Fifa 2010 Soccer World Cup that took place in South Africa during June and July 2010 it seems as though even without this great sporting event the online gambling industry would still have seen an 11.4 percent increase in revenues.

The largest sector for online gambling last year was sports betting with sports books taking in $12.06 billion which is up 10.8 percent from the previous year after being aided by the huge world wide interest in football betting during the 2010 World Cup.

The bingo and casinos sectors showed the most growth during 2010 with online bingo showing explosive growth with an increase of 28.4 percent to $2.67 billion.  Online casinos growth was also exceptionally strong making $6.24 billion last year which is a 13.3 percent increase compared to the year 2009.

The online poker sector, although having showed a steady year-over-year improvement, generated the slowest growth rate of all the product sectors and revenues were up 7.1% with $5.06 billion in profits.  According to the online gambling monitor, the gross revenue would have actually fallen without the Italian and French poker liberalization that opened up their markets recently.  The poker revenue may, however, fall this year because of aggressive bonus offers that are being made by many of the large poker rooms.

The online gambling monitor also mentioned that the positive regulatory changes that are being made in Denmark, Spain, Greece and Belgium would possibly help the online gambling industry to continue to maintain the double digit growth in the coming years.

It has also been revealed that there are currently less than 2,400 global real money gambling sites on the Internet.  This is a drop of about 160 sites from 2009.

It is expected that mobile gambling is likely to see a significant growth over the following few years.

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