International edition
September 22, 2020

According to a new report by iGaming Business

Online casino industry to grow by 79% by 2014

(UK).- By the end of 2010, the online casino market will be worth us$ 4.7 billion globally in terms of gross gaming yield, according to a report released by iGaming Business. It also says that it will rise to us$ 5.8 billion by the end of 2012 and to us$ 7.1 billion by the end of 2014 in terms of gross gaming yield, which is an increase of nearly 79% from 2009.

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Gaming Business has announced the launch of a new report looking at the rise and growth of the online casino industry. The Global Business of Online Casinos is reporting on one of the most established online gambling sector, with the recession leaving many looking for alternative sources of income and international regulators yielding to a freer gambling market. It gives a step by step history of the industry and statistics on starts-ups and expanding enterprises.

For example, according to industry insiders, online casinos cost an average of us$ 1.5 million in start-up costs but need very few employees compared with their land-based counterparts that can cost us$ 300 million to set up and keep operational. Equally large non-gambling brands such as media owners looking to diversify into other markets or to monetise existing online content may follow the example of the Virgin Group and Sky in the UK and choose to enter the online gaming space through launching their own online casinos.

"Each online casino operator is looking to participate in a sector becoming more socially acceptable, benefiting from a liberalised regulatory structure in some markets, and enjoying very substantial growth across many key demographics including those that have been hard to reach through other types of gaming or betting such as women.” Reports the author of The Global Business of Online Casinos; Rachael Church-Sanders. “Add to that the growth in social networking, mobile apps and microtransactions and times that by the growing number of people globally with broadband connections and wireless access, the future certainly looks rosy for online casino.”

The report also talks about the future of online casinos. It says that industry consensus is that the casinos that will thrive will provide a wider variety of games. “Given the internet's viral nature, something new will always come along. However, familiar games such as roulette will always make for suitable online casino games because they are played by thousands of people around the world and are easy to get to grips with - characteristics that tend to be common among the most popular online games.”

“The rise of social networking sites, applications, social-based games and smart-phones has many operators integrating these new developments into their marketing strategies“, concluded the report.

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