Global Betting and Gaming Commission Report
The Global Gaming Report put out by the Global Betting and Gaming Commission (GBGC) gave a look into how the Internet gambling market fared against land based casinos, reasons for their findings,
and methods through which the market will continue to grow. Unfortunately, the report only looks at data between 2010 and 2014 and quite a lot has happened to the global market since then.
The main finding was that the global Internet gambling market has been growing, but at a slower pace than predicted and at a slower rate than some markets for land based casinos, particularly in Asia.
It will be interesting to see, in the wake of Macau’s recent struggling casino markets, what has happened and what the forecast will look like from here on out. In the report the GBGC gave several reasons
as to what this slow growth may be attributed to.
The Global Market
According to the report, the Internet gambling scene hasn’t captured the imagination of the people as much as casinos do. Although not a lot was said about why this may be, one can assume that
playing online poker or slots at home may not have the sexy glitz and glamor of a casino in a big city. While some people are in it for the love of the game, practice for a place in the pros, or to get
a quick few wins in to pad a bankroll, a large amount of people are in it for the nightlife and party. It may be similar to why people who don’t watch sports on television go to football games.
They go for the atmosphere.
Governments
In Europe, Internet gambling companies are required to move onshore. For the companies, this means higher taxes and regulatory costs, leading to significantly less profits that would normally lead into
marketing and advertising for their company in order to draw in more new customers. Fortunately, the market looks like it is steadily rising which means that people are searching out online gambling sites.
Eventually this will lead to more natural funds coming in and more revenue for advertising and marketing, thereby drawing in more customers.
US State Lotteries
One of the many reasons that the online gambling market wasn’t reported to be alive and well in America, and not forecasted to be any better, is because of the lack of lottery support online. Most people
who are playing the lottery are simply looking to physical scratch tickets and paper slips at gas stations and grocery stores rather than going online. This may be for several reasons. One of the reasons for
this may be the difficulty in monitoring where each person is coming from online and filtering out those who may be trying to play the lottery in different states. Another difficulty may stem from Americans
not knowing what the gambling laws are in their state. Almost every state has a completely different online gambling law, and most people may simply not have the time or desire to look up their state’s laws.
Rather, they’d like to play in a way they know is quick, easy, and legal.
Declining Poker Market
Poker isn’t as popular as it was just a few years ago and this is hindering the market for people hoping to go pro, as well as people who are just playing to play. While the game still has a healthy following overall,
its popularity has been waning. The GBGC report points to this as a reason for the slow growth of Internet gambling. What is strange about this as a reason is that sports betting is just as popular as it ever has
been. Many Internet gambling companies even have the backing of professional leagues, such as the NBA and MLB, to keep them healthy and provide a good means of quick, easy, and wide exposure.
Drivers of Future Growth
Broadband
With broadband Internet becoming more and more ubiquitous throughout the world, it will be easier for many markets with slower Internet speeds to gamble online,
especially in real time gaming environments against other players.
Smart Devices
More and more often you’ll see online gambling companies becoming mobile ready and advertising their availability on Android and Apple devices. With a portable gaming network
thatsomeone can bring around everywhere, it will be easier for online gaming to extend its reach to a wider and more on-the-go audience that wants to play at their own pace.
Sporting Events
As mentioned before, the majority of bets wagered online are on sporting events. With the continued telecasts of major sporting events, and major sporting events being broadcast
to more markets in the world who are beginning to have access to a wider range of broadcasts, global online gambling is expected to rise dramatically, especially in that sector.
The Global Gaming Report put out by the Global Betting and Gaming Commission (GBGC) gave a look into how the Internet gambling market fared against land based casinos, reasons for their findings,
and methods through which the market will continue to grow. Unfortunately, the report only looks at data between 2010 and 2014 and quite a lot has happened to the global market since then.
The main finding was that the global Internet gambling market has been growing, but at a slower pace than predicted and at a slower rate than some markets for land based casinos, particularly in Asia.
It will be interesting to see, in the wake of Macau’s recent struggling casino markets, what has happened and what the forecast will look like from here on out. In the report the GBGC gave several reasons
as to what this slow growth may be attributed to.
The Global Market
According to the report, the Internet gambling scene hasn’t captured the imagination of the people as much as casinos do. Although not a lot was said about why this may be, one can assume that
playing online poker or slots at home may not have the sexy glitz and glamor of a casino in a big city. While some people are in it for the love of the game, practice for a place in the pros, or to get
a quick few wins in to pad a bankroll, a large amount of people are in it for the nightlife and party. It may be similar to why people who don’t watch sports on television go to football games.
They go for the atmosphere.
Governments
In Europe, Internet gambling companies are required to move onshore. For the companies, this means higher taxes and regulatory costs, leading to significantly less profits that would normally lead into
marketing and advertising for their company in order to draw in more new customers. Fortunately, the market looks like it is steadily rising which means that people are searching out online gambling sites.
Eventually this will lead to more natural funds coming in and more revenue for advertising and marketing, thereby drawing in more customers.
US State Lotteries
One of the many reasons that the online gambling market wasn’t reported to be alive and well in America, and not forecasted to be any better, is because of the lack of lottery support online. Most people
who are playing the lottery are simply looking to physical scratch tickets and paper slips at gas stations and grocery stores rather than going online. This may be for several reasons. One of the reasons for
this may be the difficulty in monitoring where each person is coming from online and filtering out those who may be trying to play the lottery in different states. Another difficulty may stem from Americans
not knowing what the gambling laws are in their state. Almost every state has a completely different online gambling law, and most people may simply not have the time or desire to look up their state’s laws.
Rather, they’d like to play in a way they know is quick, easy, and legal.
Declining Poker Market
Poker isn’t as popular as it was just a few years ago and this is hindering the market for people hoping to go pro, as well as people who are just playing to play. While the game still has a healthy following overall,
its popularity has been waning. The GBGC report points to this as a reason for the slow growth of Internet gambling. What is strange about this as a reason is that sports betting is just as popular as it ever has
been. Many Internet gambling companies even have the backing of professional leagues, such as the NBA and MLB, to keep them healthy and provide a good means of quick, easy, and wide exposure.
Drivers of Future Growth
Broadband
With broadband Internet becoming more and more ubiquitous throughout the world, it will be easier for many markets with slower Internet speeds to gamble online,
especially in real time gaming environments against other players.
Smart Devices
More and more often you’ll see online gambling companies becoming mobile ready and advertising their availability on Android and Apple devices. With a portable gaming network
thatsomeone can bring around everywhere, it will be easier for online gaming to extend its reach to a wider and more on-the-go audience that wants to play at their own pace.
Sporting Events
As mentioned before, the majority of bets wagered online are on sporting events. With the continued telecasts of major sporting events, and major sporting events being broadcast
to more markets in the world who are beginning to have access to a wider range of broadcasts, global online gambling is expected to rise dramatically, especially in that sector.
