Online Casino News and Gambling News

March 11, 2009 - Online Gambling Yields $20 Billion Despite Global Recession

With the total global interactive gambling yield passing twenty billion dollars in 2008, the online gambling industry finds it difficult to understand why most of the other industries in the world are suffering and unable to cope with the global recession. Despite the recession, according to the Global Betting and Gaming Consultants, the Internet gaming industry appears to be flourishing beyond all expectations.

Due to the recession, most individuals have had to curb their spending habits and more and more people have opted to stay at home more often. Internet gambling has, therefore, become a much more popular means of entertainment. With most online players able to receive large bonuses that double, and sometimes triple their starting balance, this gives them a chance to play for much longer periods on their small deposits and granting them value for their time and money spent on Internet gambling.

France has recently welcomed Internet gambling companies from outside their country and evidently the US will also follow suit. Should this happen it could result in the gambling yield increasing even more substantially than what it is at present.

New legislation in the US government is soon to be introduced by representative Barney Frank, who chairs the House Financial Services Committee, that should eliminate the Unlawful Internet Gambling Enforcement Act and regulate Internet gambling. Advocates of lifting UIGEA have claimed that it is an impingement of personal liberty and feel that the Federal Government could raise much revenue should this be passed.

 

 

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