Latest GIA Reports – Asian Markets Will Rule Online Gambling World
According to a study conducted by Global Industry Analysts (GIA), the global land casino gambling market will touch $101.30 billion by the year 2015. Online gambling, too, will witness a momentous growth in the coming years.
GIA is the biggest publisher of market research in the world. Established in 1987, this company releases about 1200 comprehensive market research reports each year. Its recently published report, “Casinos: A Global Strategic Business Report” gives a broad insight into the gambling industry, both land and online. The report covers topics such as an overview of the industry, issues and trends, regulations, product innovations, recent industry developments, profiles of players across the world, industries related to gambling, and others.
According to the GIA report, the casino sector is the biggest and the most profitable sector for the commercial gambling industry. The government targets this sector to generate revenue through taxation, usually in the developed world. The report states that the casino market has become saturated in the developed world. This indicates that there is an immense scope for the casino market to grow in the Asian markets.
The GIA report reveals that the land casino industry is undergoing a transition. It is facing a tough competition from the rapidly growing online gambling industry. The recent market trends indicate that many big gambling companies are looking to go online, but are hindered by a strict regulatory atmosphere. Although the online gambling industry represents a small part of the overall gambling industry, its growth is significant and cannot be ignored.
The GIA report on the casino market provides the advantages as well as the disadvantages of online casino gambling. One of the advantages is that players from various parts of the world get a chance to try their luck against each other on the internet. One of the disadvantages is that, as an online player, you cannot cash your winnings right away. You need to comply with the minimum withdrawal limits. In addition, you need to wait for a couple of days to process the cash.
Yet, there is a similarity between land and online gambling that is highlighted in the report. It states that larger groups tend to perform well. On the other hand, smaller groups are likely to embarrass themselves.
The specialty of GIA report on casino industry is that it gives a long-term overview. Its other recent reports tell about the immediate and surprising trends in Atlantic City and Nevada casino market. According to the New Jersey Casino Control Commission, the revenues in this sector plummeted in the beginning of this year. According to the Nevada Gaming Control Board, the total revenue from gambling increased by just 0.1 percent in the state last year, compared to 2009.
These unexpected figures surely prove that the gambling industry has reached a saturation level in the developed countries. Now, it’s time for the developing world to raise their gambling revenue and make the most of this jackpot opportunity.