Net Bet Blog

I have recently been away on academic business so have not been posting as regularly as I would have liked. The real world has a habit of getting in the way of good blogging.

Two recent articles show the global nature of the gambling expansion. What is interesting is that the rise of gambling despite being illegal. Of course we all know this from the US experience. How much evidence do governments need?

All three of the stories are pretty much attempts to make a story out of nothing which is why I have stuck together with just small quotes from each.

The headline figures are still impressive suggesting the best of breed online companies still have further to grow. Companies that are Asia focused deserve special attention and is something I am looking to cover in more detail later.

First, Norway.

Online Gambling Norwegian online gambling market grew 6.1 percent in 2007 [Casino Portalen]

The entertainment publication ISA-guide reports that figures released recently by the Commission show that the online gaming market in Norway grew by 6.1 percent in 2007, with an estimated 244 000 citizens gambling online.

The Commission revealed that Norwegians spent Euro 961 million online, of which 82.9 percent or Euro 797 million went to foreign operators, with Norsk Rikstoto and Norsk Tipping accounting for another USD 258 million.

The Singapore publication AsiaOne reports that placing bets with operators not exempted from the Betting Act and the Common Gaming Houses Act is an offence, but that online gambling is on the rise anyway.

The publication quotes a recent survey by the Ministry for Community Development Youth and Sports, which shows that the participation rate for online gambling has risen tenfold over the past three years - 1 percent of 2 300 respondents said they gambled online, up from just 0.1per cent in 2005.

Popular sites include well known international betting groups like Betfair.com, which offer sports betting, casino games and poker via the Internet.

The international business services and auditing group PricewaterhouseCoopers LLP has completed a study showing that global gambling revenue should pass the $155 billion mark in 2012 after growing at an annually compounded rate of 6.5 percent per year.

New casinos and upgrades will push gambling revenues from nearly $114 billion in 2007, the study found, with the Asia Pacific region showing fastest growth with new resorts in the Chinese enclave of Macau as well as Singapore and Thailand generating increases of 15.2 percent annually.

Revenue from the Asia Pacific region will hit $37.2 billion in 2012 compared with $18.3 billion in 2007.

In the United States, total gambling revenue should remain well ahead of other regions, growing at 4 percent annually from $60.3 billion in 2007 to $73.3 billion in 2012, the study found. However, the years 2008/9 would carry tough economic conditions, impacting the Nevada and Atlantic City land business and causing declining revenues in those years.