Online Gambling – a Booming Industry

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Online casinos have added a new dimension to the ancient sport of gambling. While packing in more excitement and fun into the activity, online casinos have been very innovative in generating revenue for themselves.

Online poker tables offer an array of games in both the ring game and tournament formats, and earn handsomely from both. While doling out bonuses and jackpots for their players, online casino managers earn heavily from the commission fee, or rake, which they charge for the support and the services they offer.

Casino games such as roulette, baccarat, blackjack and pachinko have individuals playing against the house. With the chances in their favor, online casinos have money pouring in from these games.

Similarly, online bingo is a money spinner, raking in close to $1 billion every year. 85% of 50,000 online bingo players are women, with each player spending almost $200 a month on the game.

The US gambling industry alone has a volume of $85 billion. The last few years were favorable for the gambling industry, as higher economic growth and more spending power had more people visiting casinos. At online casinos too the cash registers are ringing.

Reports from Merrill Lynch estimate the revenues from online casinos to reach $177 billion by 2015 while the Online Gambling Research and Markets Group have set a ballpark figure of $125 billion by the same year. In spite of the ban on online casinos and gambling in some countries, the support from ardent gamblers will ensure that the online casino industry attains these levels of growth.

Even for the state, gambling at online casinos is a rich source of revenue and employment. In fact, several countries which have laws restricting online casino gambling are waking up to the fact that they are losing out on revenues that the rest of the world is making.

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Some Other Online Gambling Related Articles:
Mobile Casinos
Online Gambling for Women
Online Casino Games: Anytime Anywhere Gaming

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