Online gaming industry is booming at a rapid pace and is generating humongous revenues. The online gaming space is potential forerunner for the future of gambling. Gambling at its best is considered safe and secure online and more and more people are trying their luck with online betting.
Estimated to reach $100 billion dollar this year, online gambling is the thing to look for in the near future. Online gambling is profiting many countries in the form of tax revenues. Globally, the gambling industry has taken a steep curve in the financial graphs. Big players are speculating about the opportunity and considering investment on online casinos a safe bet.
Recent research shows that more than half the world is gambling online. According to statistics, 85 countries have legalized the online gambling in past 2 years. There are nearly 3000 Internet gambling sites worldwide owned by 700 companies and they are increasing day by day.
Gambling on online social networks is rampant. The social gaming is contributing to the level of revenue generation where free participation turns into cash rewards by buying gambling accessories. Meanwhile people with gambling expertise are enjoying the ease and flexibility of popular games. Hooked to gambling, social network addicts consider playing on social platforms entertaining. For example, Texas Holdem Poker is one the most popular game on social sites and generates huge revenues. Facebook alone collects $400 million annual revenue in social gaming.
Build to perfection, online casino portals encourage gamblers to play for free initially and pay gradually. Online casino rewards are bigger then commercial casinos and you can withdraw cash instantly. As online casinos are backed by business giants, the stakes are always high to provide competitive jackpots every day.
Governments all over the world are lobbying to pass bills in order legalize online gambling as it generates more tax revenue than any other entertainment industry, more than movies and music. Repairing the dent in the budget deficit in various countries, the online gambling can generate about $250 million a year.
Online casinos hold value far more than we can ever imagine. The prospects are high that the revenue in coming years will increase promptly, taking online gaming industry to new heights. Online gaming is forecasted to achieve $150 billion by 2015 with net growth of 3.5% each year. It’s beyond our imagination how the revenues will multiply each year but with recent growth pattern, it’s obvious that the online gambling is here to stay.