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Online Casinos Impact Land Gambling

Gambling around the world is increasing annually at a startling rate of roughly 6.5 percent per year – namely for the land gambling industry. Online casino gambling is also on the rise and will contribute huge figures to the amount of global gambling revenue available. While land gambling has taken years to really expand around the globe, internet gambling is a much newer form of entertainment and has the potential to really turn in some impressive growth figures as the Asian-Pacific region opens up the tight restrictions on online casinos. Right now much of internet gambling is illegal in Asia, but as the land and internet gambling industries begin to converge the prevalence of internet gambling will actually assist some of the land gambling venues around the world.

Pricewaterhouse Coopers LLP has released last year’s statistics as well as predictions for the next five years in the land and online casino gambling industries. With the 6.5 percent annual worldwide growth figures coming in at the 6.5 percent mentioned, this puts the total global gambling revenue topping the US $155 billion mark by 2012. Right now global gambling comes in at roughly $114 billion, and the projected total for 2012 takes into consideration a slow year in the land gambling industry in the United States. The U.S. has banned online casino gambling and a slowing U.S. economy coupled with high gas prices and low discretionary income is taking its toll on the country’s two major land gambling mecca’s, Las Vegas and Atlantic City.

Pricewaterhouse Coopers noted that while the U.S. will obviously turn in some lower figures for gambling land and online casino gambling revenue, other countries will also see a bit of a slump in 2008 and 2009. This is just a temporary slump though and the industry will continue to show impressive growth straight through to 2012.