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Finding New Online Casino Bettors

The loss of the U.S. gambling market meant that many online casinos were forced to quickly find new markets – that’s where Europe and Australia come into play. Although the European market was booming prior to the U.S.’s online gambling ban, the Unlawful Internet Gambling Enforcement Act (UIGEA), activity showed an exponential increase as more companies flooded the market. Other online casinos looked even more remote markets – Australia, South America, and Asia. These three locales hold the future of the internet casino gambling industry.

As for expansion into European and Australian markets, SportingBet plc has become a success story. SportingBet suffered severe losses once the company exited the U.S. market, and immediately turned the company’s focus on gamblers and bettors in the Australian online casinos market. More than a year has passed since SportingBet withdrew from the U.S., and although the company reported severe financial losses throughout the end of 2006 and beginning of 2007, new financial reports indicate that the company is rebounding. SportingBet has managed to secure a strong foothold in the highly competitive European online casino gambling and betting industry, as well as the emerging Australian market.

According to the recent reports from the SportingBet online casino betting company, profits have sky rocketed in the third quarter of 2007. Richard Carter is a well-known industry analyst at Numis Securities, and he comments on the company’s new upward trend in profits, “SportingBet has regained positive momentum across the group.” The positive momentum could even mean that the online casino betting group is right on target for the year-end profit estimates.

Some industry analysts expressed skepticism regarding SportingBet’s rapid rebound considering the fierce competition between European online casinos and betting companies. But the financial reports indicate that the GBP 64.4 million in losses for the third quarter of 2006 are a thing of the past as the company showed a GBP 3.4 million net income for the 2007 third quarter report.