Economic crunch can result in online casino boomtime
A report by the Global Betting and Gaming Consultants says that the current economic pressure could lead to a boom in online casino gambling. An estimated increase in global gambling from $345 billion to $433 billion is expected over the next four years.
This estimated growth is likely to be mostly in online casino gambling with a slowing in land casino growth. While the economic slowdown will affect the USA across the board, Las Vegas will feel the impact more severely due to the high cost of energy and transportation.
Online casinos in the UK are apparently not well equipped to rise above the current market problems. The problem lies not in the regulation of the industry but in the fact that they seem to find it difficult to draw in online gamblers.The European online casino market is expected to expand too since the European Courts of Justice has ruled that online casino players have the same rights as buyers of regular goods over the internet.
Employment in the online casino industry is increasing in spite of harsh economic times. This is because the online casino market is still maturing and as it gets stronger, more people need access to online casino services and products. Shankland Wilcoxson, a manager at Kry Oehlenschlage and Protzman Saxby Partners LLC said that he is very excited about the future of online casinos. The downturn in the economy is a boost for the online casino industry but the industry is expected to continue its growth even when the economy recovers.