Online Gambling Grows in 2010By: Joe Valentino, Wednesday January 5th 2011
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The prevailing recession in the other sectors of the economy seems to have bypassed online gambling. A report from H2 Gambling Capital has revealed that online gambling has grown by 12.5% in 2010. In absolute terms the gross win generated by the online gaming industry touched $29.95 billion. Skeptics would point out that the
H2 Gambling Capital tracks seven product verticals and has reported sector wise results. The highest growth rate was achieved in the online bingo sector. Gross win revenues in the bingo sector grew by 28.4% to reach $2.67 billion in 2010. This is not surprising since bingo is the latest online gambling product. The sector with the second highest growth rate was online casino. This sector grew by 13.3% year on year to reach $2.67 billion. The online gambling vertical with the largest revenue is sports betting. The gross win for 2010 in this sector was $12.06 billion and included betting on the World Cup. This was a growth of 10.8% as compared to the previous year. Poker generated the slowest growth rate of all the product verticals. A growth rate of 7.1% resulted in a gross win revenue of $5.06 billion. The H2 Gambling Capital report claims that had it not been for the impetus provided by the recently opened French and Italian online poker markets, the gross win revenue would have actually fallen.
The growth was achieved despite a reduction in the global real money online gambling sites. The year 2010 ended with 2,400 sites, which were 160 sites less than at the beginning of the year. This was not unexpected. Intensifying competition leading to industry consolidation is something that will continue in 2011 as well.
H2 Gambling Capital has predicted the continuance of the low double digit growth for the industry. This prediction is based on many European countries embracing regulated online gambling in the near future. Belgium, Denmark, Greece and Spain are the countries actively considering putting in place a regulatory mechanism for online gambling in 2011. H2 Gambling Capital also identified mobile devices as key drivers of growth in 2010, a trend that is expected to continue. The findings released in this report were based on provisional estimates. The final results and projections for 2011 to 2015 will be released in April 2011.
H2 Gambling Capital, located in the United Kingdom, is the supplier of data and consultancy regarding the gambling industry. Since 2000 it has supplied industry data and information to over 500 clients. H2 Gambling Capital has developed its own proprietary software to monitor online gambling information.
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