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Huge growth potential in online gambling

Worldwide online gambling revenues rose by $2.4 billion in the last year, according to new research.

The study by Harris Interactive and eMarketer discovered that online gambling revenues rose from $8.5 billion in 2004 to $10.9 billion in 2005 – a substantial increase of $2.4 billion.

And the huge potential for industry growth comes in the fact that the online gambling industry is still a relatively untapped market, according to the survey.

Figures showed that 95 per cent of US adults who are online say they have never spent money at an online casino while 94 per cent say they never bet on online poker either.

The report found that if at present online gambling sites are accessing only a small demographic successfully, then there is huge untapped potential in the online gaming market.

The eMarketer report concluded: "One suspects that if online gambling were legal in the US, online users would have been less hesitant to admit to gambling online, and the poll numbers would be considerably higher."