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World Gambling Revenue $183bn By 2015

Playing at an online casino could soon become a lot more common, according to a recent report released by PricewaterhouseCoopers entitled ‘Global Gaming Outlook: The casino and online gaming market to 2015?

Gambling revenues information gathered by consultancy firm Price Waterhouse Cooper (PWC) for this year suggests that gambling revenues through casinos and online gaming increased by 0.6% in Britain alone, adding that the UK was the largest legal online gaming market. This means the total revenue for casino and online gaming will increase an average of 9% every year, from $117.6bn at present to $183bn by 2015.

''The weak economic conditions and the impact of adverse regulatory developments in some countries will curtail growth.?br />
The predictions made by the report envisions a 9.2% increase in compound annual revenue over the next five years, with the biggest increases being seen in the Asia Pacific region, with 18.3% growth in compounded annual revenue to $79.3bn. The US were given a 5% predicted growth and will reach $73.3bn. As a result, Asia Pacific will then account for 43.4% of world spending on casino and online gaming, while the US on 40.1% will find itself in second spot.

Elaborating further, David Trunkfield, the lead gaming partner at PricewaterhouseCoopers stated: “Singapore’s dramatic emergence as a casino gaming centre is a prime example of new territories entering the market. Revenues have surged from zero in 2009, to $4bn in 2011 and a predicted $7bn by 2015. The improvement in transport links to key casino gaming markets, such as Macau, and the easing of regulations is also contributing to the increase in revenues. ”By contrast, growths within the EMEA countries (Europe, Middle East and Africa) are expected to be far weaker at an average annual increase of 2.4% and should hit $18.3bn gambling revenues in 2015.

“The casino gaming market in EMEA has been the hardest hit of any region by the economic downturn, with revenues slumping by 12 per cent in 2009, followed by a further 7.2 per cent in 2010, the third consecutive annual decline. The weak economic conditions and the impact of adverse regulatory developments in some countries will curtail growth.?br />
The above predictions for the casino and online gaming industry, should act as a persuasive push for countries contemplating to enter this lucrative market and position themselves accordingly.