Is The Online Poker Market A Monopoly?

With 2013 upon us many are asking what the coming year will hold for the online poker industry. It has been a turbulent few years for the online poker market especially in the last year where the U.S. Justice Department changed its stance on the Wire Act of 1961.

A report in the Daily Mail discusses the future of what some considered the next gold rush in the gambling market. Online Poker gained much attention from way back in its glory days when the World Series of Poker was won by Chris Moneymaker in 2003.Ever since then many major gambling companies like William Hill and Ladbrokes have been looking to cash in on this ever popular online gambling choice.

Online gambling was banned in the U.S in 2006 and ultimately ended in “Black Friday” where on April 2011 Federal authorities indicted three major online poker operators namely Full Tilt Poker, Poker Stars and Absolute Poker.Following the revised stance of the U.S Justice Department o the Wire Act of 1961 the online gambling in the U.S. has received a breath of life as individual states look to cash in on internet gambling.

 

Currently there are a few major players in the online poker industry. PokerStars is the largest online poker site in the world with over 50 million registered users and has a 60% market share. Added to that is Full Tilt Poker which was acquired by PokerStars which also boast over 100,000 daily users.

With PokerStars owning at least 70% of the online poker market the remaining share is up for grabs by other gaming companies like William Hill, and LadBrokes,888.com and Bwin.party who need to fight for the scraps. PokerStars also came to an agreement  a few months ago with the Federal government in which they have agreed to compensate players and the U.S. Government.

With all this in mind many industry experts believe that the online poker market is largely in the hands of PokerStars and Full Tilt Poker and without the U.S. online gambling market opening up soon, the status quo will not change dramatically. This has led many to proclaim that the online poker gold rush is over and is not the unlimited market that many thought it was only a few years ago.

What the next hot trend will be is anyone’s guess but many are betting on softer forms of gambling lie that of slots and online scratchies which are growing in popularity especially with the rise of mobile gambling.

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