|
What is iGaming?
GamingPublic.com defines iGaming as the term generally used for online or internet gambling, which includes online poker, internet casinos, virtual sportsbooks, web-based lotteries, mobile gambling and pari-mutuel racing.
iGaming takes place in the internet and includes the following basic components; software (backend database and front end gaming) hardware, financial transaction processing and customer service.
Components of iGaming may take place over the phone, especially with customer service issues. iGaming does not include video games online nor does it include skill gaming.
Some of the better known public companies include Party Gaming, Betfair, Sportingbet, Cryptologic, 888.com, BWIN and Virgin Games. When the USA legalizes iGaming, look for Harrah's, MGM, Las Vegas Sands, Boyd Gaming, Trump and other large B & M casinos to make the jump into the market.
iGaming Industry Snapshot
The online gambling industry is one of the fastest growing industry on the Internet. Global revenues from online gambling reached USD$16 billion in 2006, up from USD$ 12 billion in 2005 and USD$ 7.0 billion in 2004.
By our estimates, global iGaming will be worth $25 Billion in 2010.
If legislation in the USA regulates iGaming and State Lotteries / B & M operations enter the business by mid-2008, then iGaming will be worth closer to $50 Billion by 2010.
And much to the contrary, since the legislation passed, volume across the board has not dropped as private companies take up the slack.
According to UK government figures, Europe's regular online gamblers stake nearly 3.5 billion pounds a year, an average of 1,000 pounds each.
The global online gaming market has experienced rapid growth since its establishment in the 1990s but remains relatively immature. Although estimates as to the current size and growth rates of the global online gaming market vary considerably, the market generated revenue of approximately $10 to $12 billion in 2005, representing just over three per cent of the total global gaming market. In 2005, casino and bingo games represented approximately 29 per cent of the online gaming market, and poker represented approximately 13 per cent.
For the five-year period from 2005 to 2009, it is estimated that revenues generated by the global online gaming market will increase to approximately $22.7 billion, representing a compound annual growth rate of approximately 22 per cent.
On this basis, the global online gaming market would still only represent approximately eight per cent of the total global gaming market in 2009.
By 2010, the online gaming industry will surpass USD$25 billion.
|
|
Recent News Headlines
|
|
Full iGaming Company Listings Here
=====
Mobile Gaming - A how to guide Given the number of iGaming operators, one might think that the Internet mobile gambling market would be highly competitive. However, a significant portion of the companies in this fledgling industry can be characterized as small players who possess limited credibility; are inadequately financed; operate with a single technology and typically have limited contacts in the international arena. It is generally projected by the industry that many of these companies will fall by the wayside with only a limited number of dominant players remaining. See More.
===
===
|
