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Global Online Betting & Gambling Market to be Worth US$ 128bn by 2026

Transparency Market Research just published its research report that indicates that the global online gambling market could enjoy a CAGR of 11.8% between 2018 to 2016 to reach a value of US$128.2 billion. In 2017, Europe held the leading share in the online betting and gambling market.

Transparency Market Research just published its research report that indicates that the global online gambling market could enjoy a CAGR (compound annual growth rate) of 11.8% between 2018 to 2016 to reach a value of US$128.2 billion. In 2017, Europe held the leading share in the online betting and gambling market.

The Online Betting and Gambling report by Transparency Market Research offers an analysis of the global industry, its size, trends, growth, share as well as forecasts for the 2018 to 2016 period. The increase is mainly due to the relaxation of laws that boosted the betting and gambling market, penetration of online devices and the growth in trust on wagering via online payment modes.

Forecasts based on device type it is the mobile segment that is expected to expand with a 16% compound annual growth rate. What drives the significant growth in the online betting and gambling market is the rise in prevalence gambling, huge increase in trust in betting via electronic payment methods, increase in consumers disposable income and the penetration and growth of the internet and the adoption of Internet-based devices.

Expected Growth Will Face Challenges

Even though the expected growth is significant, the online gambling industry faces a few challenges including an insufficient facility for internet operations, stringent regulatory laws for online gambling and betting as well as the threat of cyber-attacks.

When it comes to the report’s analysis of gaming types, an estimated increase of 14% is projected for the sports betting market while casinos were second in the lead in terms of value during the 2017 period. The online gambling market in 2017 was led by Europe. However, a CAGR of 14% is expected for the Asia Pacific market due to the growth in participation of betting via the internet, while the relaxation of the gambling laws in the Asia Pacific zone, as well as the availability of attractive offers via foreign casino sites, also have a major impact on the growth.

Another market to keep an eye on is Brazil, seen as the largest regulated market, according to statistics the country has enormous economic and social potential for internet gaming development. The Brazilian Institute of Statistics and Geography, IBGE, published data that show that 116 million of the 208 million inhabitants have access to the internet, the equivalent to 64.7%. Over 85% are between the ages of 18 and 24, and the IBGE survey found that 63.3% of Brazilian families have access to networks. According to the National Survey, 92.6% of households own at least one mobile device, which is used 99.7% of the time to access the internet.

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So… What is Going on With eWalletXpress?

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Online gamblers have expressed their concern for the situation with online payment processor eWalletXpress. Recently, players who used this processor to manage their money at online gambling sites found out that the site was down and that the company was not providing the usual services. Naturally, those online gamblers wondered what was to happen to the funds in their accounts as they were unsure of what was happening.

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Gambling.com Domain Up for Grabs

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At the 2010 Global Gaming Expo, Media Corp., a UK based company, announced that one of the biggest online gambling domains, Gambling.com, is up for sale. A lot of casino groups have contacted the company to make offers but Media Corp. has decided it is better to finalize the selling through an auction.

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PPA List of Congressional Endorsement for the Elections

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PokerPAC, the political action committee of the Poker Players Alliance (PPA), today released the list of Congressional candidates it has endorsed for the 2010 mid-term elections on November 2nd.

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Online Gambling Growth Staggering in the UK

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Online gambling is currently one of the fastest growing industries around the world. Every day more and more people join the scene to partake in online gaming activities.

Recently, figures reported that online gambling has increased by 40% in the last 12 months in the UK.

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Featured Gambling Financials

MasterCard Buys Payment Processor

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Credit cards are the major electronic payment option available to online gamblers in the world. Players use them to make direct deposits and/or to put funds into their electronic wallets.

MasterCard is one of the largest credit card companies in the world, actually it is the second largest payments network, and now they have announced the acquisition of DataCash Group Plc

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UIGEA Compliance Deadline Approaching

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The deadline to fall into full compliance with the regulations of the Unlawful Internet Enforcement Act (UIGEA) is December 1st for all companies in the financial services industry.

In the meantime, the Poker Players Alliance is working hard on delaying the deadline. Bill HR 2266 was introduced by Congressman Barney Frank in May of this year and this piece of legislation aims to push back the compliance date to December 1st of 2010.  The bill suggests that lawmakers on Capitol Hill could find a method for taxing and regulating the internet gambling activities in the US.

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Financial Firms in US say Online Gambling has a bright future

September 28, 2009 (CAP Newswire) — Video game consoles have become remarkably inexpensive recently, with gaming companies getting more competitive as the consumer electronics market weakens along with the general economy. But according to highly respected market research firm Ernst & Young’s U.K. branch, online gambling may be the one part of the gaming market that has a bright future.

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UIGEA reulations will have NO Effect?

Gambling Law Expert Tells Poker News Daily that UIGEA Regulations Will Not Have “Any Effect At All”

From the CAP News page:

July 30, 2009 (CAP Newswire) — In an interview published at Poker News Daily, Nelson Rose, a noted gambling law professor who often speaks out on the regulations against online gaming, told the publication that, whether or not the law goes into fuller effect this December as planned, the UIGEA regulations are likely to have minimal impact on the poker industry at large.

“I think there’s a good chance that HR 2266 will pass,” Rose said, referring to the legislation currently in Congress that seeks to overturn most of the UIGEA’s stipulations. “Nobody likes the regulations of the UIGEA, but it’s of such little interest to members of Congress right now.”

However, Rose went on to discuss why it might not matter that much. “The whole focus has changed,” he said. “Instead of looking at individual transactions, financial institutions are now told not to. Basically, the whole program focuses on due diligence on new accounts. If you’re crazy enough to set up a bank account with an American bank, they’ll ask if you’re involved in illegal internet gambling. Banks are specifically told not to look at individual transactions, so it doesn’t really do much except impose an extra level of regulation and cost onto the banks. The payment processors have already figured out ways around it.”

“The UIGEA is a piece of garbage, but the regulators did the best they could do with it,” Rose continued. “It’s a requirement that banks spend money for nothing and that’s not what the government should be doing right now.”

Click here to read the complete interview at Poker News Daily.

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Nathan – CasinoAffiliatePrograms.com Staff

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Ohio’s Issue 6 – Allowing gambling in the Bible Belt?

Well after years of failed gambling voting in Ohio Issue six this November is the newest to surface. Issue 6 run by a small time group of Indian Casino promoters is attempting to slip one in there. They have many loopholes in the proposed amendment to the Ohio Constitution that will allow real casino based gambling once and for all. They state Millions will go directly to each county of the state evenly and everyone will be happy keeping Ohio’s dollars inside the state but what they do not tell you is this is not forever. A major loophole in issue 6 is that it states, all casinos in Ohio will have to pay the exact same tax rate. Does not sound to bad as millions are supposed to flow from just the first casino right? Looking further, if these boys bring an Indian based casino into Ohio later the effective tax rate for all casinos will be 0 (ZERO) (NOTHING)!! as you can not tax a Native American or a business (Casino) run by them. At least the government did something right for these folks that took care of our land before we stepped in.Â

So, as much as I want a casino or two in Ohio, I will be voting NO on issue 6 as I firmly believe a casino will be great for the state, but it must be done correctly or its just a giant vacuum for Ohio’s cash.