The Internet Gambling Industry is Set to grow to $528 Billion by 2015
12th October, 2007
Internet Gambling Industry is set to grow to $528 billion by 2015, this is a prediction seen in a Merryl Lynch publication. The Internet gambling industry is currently a $12 billion a year industry, if Merryl Lynchs prediction is correct it would be by far the largest ecommerce industry online. The prediction is based on the progression of the industry from 2001.
It is clear to see that the Industry has great potential to grow but with governments views on online gambling varied and some making it difficult to gamble in certain countries. A good example of this would be the United States government wanting nothing to do with the online gambling industry. Some analysts believe that the United States cannot hold of the industry. Paul Schrew who is an expert in the field based out of Chicago, claims that the industry is bound to be legalized in the United States. The reason being that the extremely profitable capabilities through taxes that the UK is certain to take advantage of will also appeal too much to the US.
Schrew said, “the United States government will not just watch the rest of the world take advantage without trying to get their foot in the door.Although the United States passing the Unlawful Internet Gambling Enforcement Act may hurt projections," Schrew said, "the legalization of Internet gambling in the UK, Spain, and Italy are projected to truly make this an international community."
According to UK government figures, Europe's regular online gamblers already stake nearly 3.5 billion pounds a year, which averages out to about 1,000 pounds per person.
