 |  | Wednesday, 27 February 2008 |
Call for Investigation Applauded by Online Casinos Industry
16 May 2006
A statement from the American Gaming Association (AGA) urging the U.S. government to conduct a congressional investigation into gambling at online casinos before imposing bans has been met with widespread approval in the online casinos industry. Gambling at online casinos is the fastest growing business on the internet and some analysts expect it to grow by up to 14 percent each year, reaching over $25 billion dollars by 2010.
According to the UK’s Global Betting and Gaming Consultants, this level of growth will mean that the online casinos industry will represent approximately 7.7 percent of the worldwide gambling industry. Brokerage firm Numis also predicts a glowing future for online casinos. A recent statement to investors read that the firm is confident that current prohibition attempts and any in the future that come before the U.S. House of Representatives will fail. "This should be taken very positively for stocks," the statement concluded. Matthew Gerard of Investec says that major players in traditional land-based casinos are also in favor of regulating the online casinos industry, which would enable them to legitimately enter the market.
Several casino firms are currently making huge profits from business ventures in Asia, which is also predicted to be the next big market for the online casinos industry. Legalization of online casinos would enable these firms to compete for their share of the market and would provide valuable cross-selling opportunities. |
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