As indicated on figures released by the Global Betting, the worldwide online gambling industry has now reached $29.3 billion. It increased 12% over last year, and many gamblers believe as well as the gaming industry that the said figure will continue to rise as more jurisdictions regulate internet gaming.
Gaming analyst Steve Schwartz said that with the amount of countries that have legalized some form of online gambling, that number will most likely continue to grow over the next decade. “If that is the case, the industry could become one of the most relied on in the world when it comes to tax revenue created.” said Schwartz.
Global Betting studies stated that the online gaming industry is expected to reach over $40 billion by 2014. The figure would surely rise even higher if the United States will regulate the industry because the USA is known to be the largest online gambling market in the world.
Of the $29.3 billion the industry is reported to be worth, 40% of that particular money comes from sports betting. Online poker and casino websites accounted for 46% of the net worth, and online bingo brought in $1.3 billion in 2010.
Individual states may beat the federal government to regulations in the US. Residents of New Jersey are waiting for governor Chris Christie's approval on online gambling legislation The New Jersey law would only allow for online gambling by New Jersey residents.
Article Source: http://www.casinogamblingweb.com/gambling-news/online-casino/online_gambling_industry_continues_to_grow_up_to_29_3_billion_56513.html
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