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Market Dynamics
In 2007, the online gaming sector outside the US is estimated to have been worth approximately $7.9 billion versus $6.7 billion in the previous year, an annual increase of over 18%.
Over the next few years, online gaming outside the US is expected to continue to be one of the fastest growing segments of the overall gaming market, reaching $14.9 billion by 2012, implying a CAGR of 14%. Including the US, the CAGR falls to 10%. A number of legislative bills to legalise and regulate online gaming are being considered in the US Congress and GBGC continues to believe that the US will eventually move to a regulated and licensed regime for online gaming within the next few years. This is expected to provide a further stimulus for growth.
Whilst the US has historically been the largest single gaming market, the enactment of the Unlawful Internet Gambling Enforcement Act (the UIGEA) in October 2006 has had a major impact on the geographic split of revenues by territory. In 2006, the US is estimated to have represented approximately 47% of global online gaming revenues. In 2007, GBGC believes that this had fallen to 34%, reflecting the withdrawal from the US market by a number of companies, including PartyGaming, together with the much more rapid growth in other territories such as Europe. That said, it remains the largest single online gaming market with an estimated $4.1 billion of gross gaming yield in 2007.
Market statistics supplied by Global Betting and Gaming Consultants - May 2008
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