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News Archive
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Online gambling tops £115bn
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[2005-11-16]
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Worldwide online gambling revenues are expected to top $10 billion (£6 billion) in 2005, according to new reports.
However, market research firm eMarketer has claimed the $10 million only represents the "house cut" from the revenue, which indicates around $200 billion (£115 billion) has been in play over the last 12 months.
Ben Macklin, analyst at eMarketer said online gambling is quickly moving into the mainstream, fuelled by "a poker craze, the growth of broadband, and TV coverage".
Although most US states consider online gambling to be illegal, many Americans still visit the off-shore sites to spend money.
The report stated US consumer spending on gambling is "roughly 20 times the amount they spend on digital music downloads", highlighting the increasing popularity of web-based gambling.
Across the Atlantic, German, French and Swedish gamers topped the list of the most frequent internet gamblers, although over 14 million internet users in Europe visited online betting sites last year.
Experts have attributed the increase in online gambling in part to the popularity of poker tournaments on television, along with the $2.5 million £1.4 million win of American online poker player Chris Moneymaker.
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