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Thursday, February 26, 2009

Online Gambling Revenue Showing a Uprising Increase During Bad Economic Times

With the worldwide recession happening, you would think that no city or business on earth is immune from its effects on us all.

Big Companies like AIG, popular restaurants, and even the Gambling entertainment hotspots like Atlantic City, Las Vegas and even Monaco have felt the sting of this massive economic downtown. No matter where your business is, you are struggling to make ends meet unless you have an online casino business. When online gambling first came about in the late 1990s it exploded on the scene with revenue charts in which the arrows were almost vertical.

Everybody was either gambling or opening up an online gambling site themselves. When the recession started to hit ,many people in the online gambling industry were fearful that it would hit online casinos hard because of the fact that gambling isn't essential to living like food or homes were, but the projections coming in for 2008 has started to show a different story. What it has shown is that online gambling i is much more resilient then people previously thought it was.

A new study of online gambling revenue and expansion proves this to be true. This Study, which was done by well known gambling adviser Marco Felice Baranzelli shows that while land based gambling operations are forecasting an expansion rate of 2.2% yearly from 2007 to 2012, online casinos are showing an expansion rate of over 10% with online poker leading the way as it is showing a 16% year over year expansion rate followed by the online casino industry showing a 15% year over year increase while sports betting is lagging behind with a modest but still strong 11% increase.

So as you can see, while the whole world is being hit by this financial downturn, online gambling has shown its resiliency. All of this points to the fact that we should start seriously thinking about making online gambling legal in the United States in a way that the government can oversee and tax the revenues of online gaming establishments and the profits that players make, and use that money in a constructive way to help pay for the bailout that President Obama is proposing.

2 comments:

Lakermountain said...

I totally agree. Any added revenue that our government can get will help our financial meltdown. Instead of creating revenue for the US, online gamblers are feed offshore companies. A similar debate is being made in California where a politician is arguing to legalize marijuana in order to tax and generate more revenue for the California deficit. With the difficult economy and online gambling expanding, poker players should look to websites such as Rakepay.com to get up to 50% of their rakes returned to them.

spelonlinecasino said...

I completely agree with you..I guess It would become the reason to get online casino gaming legalized in the regions where it is not yet.