Online gambling news just out:
(REUTERS) Online gambling a $10 bln industry by 2002-report
Online gambling a $10 bln industry by 2002-report
LONDON, June 16 (Reuters) - Over $10 billion will be gambled
online by 2002 as operators take advantage of the huge audience
reach and cost savings of the Internet, market analyst
Datamonitor said on Tuesday.
"Casinos, lotteries and sportsbooks dominate the new market,
allowing customers with an Internet connection and a credit card
to gamble literally anywhere in the world," Datamonitor said.
Online gambling revenues in 1998 are expected to be $535
million, rising to $955 million in 1999 and $2.3 billion by
2000.
"Online gambling turnovers have the potential to dwarf those
of other interactive services, tapping into an existing
traditional gambling market valued at over $700 billion in
Europe and the US alone," Datamonitor said.
Datamonitor said concerns about the legality of gambling
online in the United States would help Europe gain market share
and drive up its revenues to $3 billion by 2002.
The majority of online gamblers are U.S. citizens but most
services are operating from places such as the Caribbean,
Europe, Australia and South Africa.
((London Advertising Newsdesk, +44 171 542 2809, fax +44 171
542 2929, email adnewslon@reuters.com))
REUTERS
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