DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/pwjr2j/global_online) has announced the addition of the "Global Online Gambling & Betting Market 2014" report to their offering.
Global Online Gambling and Betting Market 2014 depicts the latest trends and developments in the field. Among the findings of the reports researchers is that the online gambling and betting segment is increasing, enhanced by the spread of smartphones and tablet computers. The authors observe: while land-based lottery and casinos still dominate the gambling scene, online real-money gambling and betting are growing rapidly.
The regulatory landscape on online gambling and betting is varied. The majority of Western European countries have some laws in place to channel online gambling and betting. In North America and major Asian countries online real-money games are yet awaiting progress in regulation. In the USA, online gambling is legal only in three states and in many Asian countries gambling and betting is allowed only in casino resorts.
The spread of online betting and gambling is forcing governments to act to regulate. The global online gambling market has a current value estimated at a medium double digit number in billions of Euros, with growth expected between +7 and 10% annually in the next few years.
Trends in online gambling and betting.
The major trends in online gambling and betting globally are mobile and social gambling. Mobile gambling is expected to grow at double-digit rates and to reach over 40% of the total online gambling market by 2018, as the number of mobile gambling users increases by a hundred million.
The leading online gambling and betting companies worldwide include PokerStars, Bwin.Party, William Hill Online, each of which annually generate online revenues of over EUR 0.5 billion.
Regional variations in legislation and acceptance of online gambling and betting
In North America, online gambling was legalized in three US states by early 2014, with online gambling revenues surging to millions in the first months of legal operation.
In the largest Latin American market, Brazil, gambling and betting is forbidden except for horse racing. However, offshore gambling websites are popular among Brazilian gamblers, who spend several hundreds of EUR million annually on offshore sports betting sites.
Europe has been a leader in adopting regulation regarding online gambling, but as the activity spreads, new measures are being enacted.
In France, online gambling and betting has been legal since 2010, but many gamblers turn to illegal sites. For example, a quarter of poker players chose to bet on unregulated networks.
Italy has one of the most advanced regulatory arrangements regarding online gambling in Europe. Total online gambling revenue in Italy recently reached a high number in hundreds of millions of Euros, with poker constituting the largest segment.
Regulation of online gambling and betting in Germany and Russia lag some of their neighbours. Progress in online betting regulation in Germany is expected in 2014, as several operators have applied for the first online sports betting licenses.
Online gambling and betting is spreading in the Asia-Pacific region. In Australia, which leads the world in terms of per person gambling, online sports betting and gambling has been growing by over 30% annually, while the growth of the total gambling market does not exceed 5%.
Online gambling is only starting to emerge in Africa. The first regulated online gambling website in Kenya was launched in 2013. In South Africa, online gambling awaits legalization in 2014.
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- 888 Holdings
- Betfair Group
- Paddy Power
- William Hill Online
For more information visit http://www.researchandmarkets.com/research/pwjr2j/global_online
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