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Current Conditions and Future Developments

Page history last edited by Justin Mevorah 10 years, 9 months ago
  • What is happening now? To existing companies? To new companies?

 

  • Internet Gambling will continue to grow in Eastern Europe despite expected decline for landbased gambling. Expantion due to broadband expansion HTrends
  • Full Industry overveiw
  • Top 21 trends of 2009
  • Trying to lift ban on internet gambling in US
  • Q&A Online gambling regulations- press conference 
  • "The biggest potential change would be in the United States, where, perhaps within days, Representative Barney Frank, Democrat of Massachusetts, is expected to introduce legislation aimed at overturning the Unlawful Internet Gambling Enforcement Act." -A New Chance for Online Gaming in the U.S. April 26,2009
  • Growth Trends - How much of the gaming market will online gaming account for in the future? 

    "H2 Gambling Capital (‘H2GC’) estimates that the world-wide gross gaming yield for 2008 was approximately $336 billion, up from $333 billion in 2007. Online gaming, including online lotteries, is estimated to represent 6% ($19.6 billion) of the total, against 5% ($15.4 billion) in 2007.  The dip in the trend in 2007 reflected the enactment of the UIGEA in the United States that took place in October 2006 following which a number of public companies, including PartyGaming, ceased to offer real money games to customers located in the US."  

    Online gaming as % of total gaming revenue

    Online gaming as a % of total gaming revenue

     

              source - http://www.partygaming.com/pg/pages/aboutus/ourmarkets

 

  • What emerging new ways are there to use the internet in this industry?
  • Mobile Gambling... Using your cell phone to gamble wikipedia 
  • Cell Phone Gambling
  • iPhone gambling applications
  • Developments in the use of wireless, mobile devices for online gambling are expected to be on the rise.  Bodog Mobile

 

  • Who will be the winners and losers?

 

  1.           Economics: states do not collect any taxes from online gambling winners as they do from lottery and casino winners
  2. Internet gambling would benefit companies such as: Internet service providers, phone and cable companies, nongambling Web sites that feature advertisements for online gambling sites, and software companies
  3. May spring larger surges of credit card theft, lack of trust in games being fixed or manipulated, computer hacking and money laundering
  4. Since online gambling is generally a solitary practice many have concern that this will trigger more compulsive, addictive habits

 

 

  • Loser: Casinos

                    iPhone Card counter banned in casinos in Nevada link to article

                    Consequences if iPhone is used to count cards   

  • Vegas tries to compete with Online Gambling sites by offering gambling opportunities on tv shows such as American Idol, the Oscars.  Link to an article on this here

 

 

 

Online Gambling Magazine - Up to date information

 

DealBreaker - Up to date gambling news

 

Reuters News article -WTO and internet Gambling recent article


  • It has been alleged that largely unsupervised electronic fund transfers used for online gambling have been exploited by criminal interests to launder large amounts of money although credit card and gaming industry officials did not believe internet gambling posed risks when it came to money laundering. 

 

 

What can be done to limit Internet gambling?

  • Reinstate the IGPA- Legislators cant target individual gambling patrons while giving exceptions to special interest groups
  • Enhanced enforcement mechanisms against credit card providers and transfer agents
  • Enhanced enforcement mechanisms against ISPs (Internet service provider)
  • Reduced tax rate on winnings from regulated gambling environments.  This would encourage individuals to partake in gambling away from the internet. 

Link To Article

 

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