Punters keep betting as World Gambling revenue continues to rise

New gambling markets of China and Singapore pushes the World Gambling 

revenue past $400 billion in 2011 

Findings from the Global Betting and Gaming Consultants latest research show what industry experts have been hoping for – that gambling revenue across the world continued to rise in 2011, with a growth rate of 5.6%.

The industry as a whole raked in a staggering $419 billion last year, thanks in part to the surge in popularity of gambling in the mega resorts of Singapore and Macau, China. Despite the resorts only being in their second full year of operation, they helped to push casinos to the second highest revenue group in the GBGC poll, with a 27.7% share. This is expected in increase significantly in 2012, with casinos likely to take the top revenue spot as new developments continue to open in Asia.

Online gaming has also grown in 2011, up to 8.4% of the total. This is good news for a market that is still battling for legislation in the biggest gambling market in the world – the United States. Here online gaming is still illegal, with various big name online casino operators being indicted by the US Government in 2011 under the Unlawful Gaming Act. It is assumed that should the situation change, the revenue share for online gaming will increase exponentially.

It should be noted that Calvin Ayre was indicted in US Federal Court in Baltimore, Maryland earlier this year. Ayre and 3 other Canadian men are charged with operating an illegal gambling business involving sports betting and conspiring to commit money laundering. Ayre was the subject of a 2006 Forbes cover story titled, “Catch Me If You Can”. This well publicized indictment was intended to serve as a warning to other online casino operators not to operate in the US until the laws there change.

Whilst the GBGC is predicting that global revenue will hit $500 billion by 2014, industry experts are advising caution in light of the recession has hit global economies in recent months.

Commenting on the global growth prospects, Lorien Pilling said:

“A strong economic recovery in the U.S. would help gaming revenues that have been hit hard in recent years. In Europe, the gambling industry needs the euro zone crisis to be resolved because the uncertainty is really hurting the gambling sector in the likes of Greece and Spain.” 

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