Bright Future for Online Gaming

Up to 10 percent annual growth has been predicted for the online gaming industry.

Figures from PricewaterhouseCoopers (PwC) have revealed that online gaming and casino revenues are expected to rise by a massive 9.2 percent annually until 2015. At this rate, revenues would reach $182.8bn by 2015, up from $117.7bn in 2010.

Although land-based gaming remains popular, the increase of almost 10 percent per year reflects the growing number of people choosing the privacy, convenience and comfort of online gambling.

According to auditors PwC, Asia is set to see the greatest growth, particularly in Macau, home to the biggest casinos in the world.

Next to Asia, the UK has one of the fastest growing online markets. As it is one of only a few countries to legalize, regulate and consequently tax online gambling, its position near the top of the pile is not surprising. UK gambling revenues increased by 0.6 percent last year alone.

Commentators will be watching closely to see what countries start to legalize and regulate the burgeoning industry, in order to take advantage of its revenue earning potential.