Online Gambling Cooking in Britain - Saturday 12th of March 2005

Since the birth of online or Internet gambling in 1995, the online gambling industry is now worth an estimated $9 billion a year and is expected to grow annually by 22%.

As one of the few jurisdictions in the world where online gambling is legally accepted, Britain is experiencing an 'online gambling explosion' as thousands of new online gamblers and players try their luck online.

At least 45% of total online gambling expenditure is attributed to sports betting while 35% is attributed to online casino gaming and poker rooms.

Said UK-based analyst, Andrew Lee, 'January this year saw an online poker room listing on the London Stock Exchange (LSE) worth more than the $5.7 billion, the largest share listing the LSE has experienced in three years. It comes as no surprise then the amount of Britains who gamble online has increased six fold during the last year.'

In October last year, Sportingbet the world's largest online betting business, increased its share price by 50% after it acquired online poker room powerhouse, Paradise Poker.

Commented Lee, 'I predict that the bigger online gambling concerns will eventually consolidate to form huge gaming, betting and poker portals, meaning the online gambling industry will be controlled by very few.'
 

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