There is a general consensus that the growth of online gambling is unstoppable and the billions of dollars spent annually attest to this

PricewaterhouseCoopers (PwC) released some very encouraging data forecasts for the future of online gambling. They believe that gaming revenues across the U.S ,Asia Pacific, Latin American ,Canada and EMEA (Europe, Middle East and Africa) will grow at a steady rate of 9.2% on a yearly basis for the next five years. This would mean that revenues would grow from $117.6 billion in 2010 to $182.8 billion in 2015

According to PricewaterhouseCoopers the Asian market is expected to grow with particular focus on Macau which is well known for some of the world’s largest casinos

With the legalization and regulation of the U.K. industry it is no surprise that the online gaming industry in the U.K is amongst the higher growth markets

In the U.K online gaming machines generated more than $3 billion in 2010 which is in contrast to the Casino market which brought in “only” $1.2 billion.

David Trunkfield of PwC pointed out that with the current global recession there are many governments desperate to find alternative ways to bring in much needed revenue to the government coffers. He voiced the well known argument that countries which refuse to embrace legalization and regulation of online gambling are losing billions of dollars to those illegal gaming operators. It makes economical sense to adopt this progressive approach and thereby enable the government to benefit from tax revenues

He also stated that the traditional offline casino need not fear competing with their online counterparts as they both can mutually benefit from each other with the ultimate aim of providing the ultimate gaming experience for their potential customers

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