Internet Poker Market Stabilizing, While Other Online Casino Games Still Thriving

While some brick-and-mortar casinos figure out ways to attract millennials to classic gambling, online casinos have already tapped a younger demographic that likes the convenience and ease of the Internet for just about everything.

By some accounts, the global online poker market has shrunk more than 20 percent since 2012, a year after the American market was largely closed off from online poker in an event known as Black Friday. Though the global online poker market is nearing the end of its decline and will probably soon stabilize, thanks to high-profile mergers within the industry that will cut regulatory costs, online casino games are experiencing a strong growth period, especially in Europe where the bulk of the roughly 85 nations across the world that allow online gambling are located. Europe is also where roughly 40 percent of worldwide online gaming revenue is generated.

According to the European Commission, online gambling is worth about $14.7 billion on the continent these days, and it’s still growing. Online casino gambling is the fastest growing service activity in the EU betting sector, with annual growth rates of almost 15 percent. The United Kingdom is the largest online gambling market in Europe, though other countries are expected to close the gap in the coming years.

The top 10 online casinos all do business in the U.K., which arguably has been the world leader in online gaming since a favorable law went into effect in 2007.

Some of the top online casinos already have their eyes set on a rejuvenated American online gaming market, especially as more states—Pennsylvania, New York and California—contemplate joining Nevada, New Jersey and Delaware in the space.

Financial services firm Morgan Stanley believes the U.S. online gaming market could reach $2.7 billion by 2020, assuming more states legalize and regulate the industry.

The brick-and-mortar casino market in the U.S. had record gaming revenue in 2014, but growth has been sluggish. Online games are seen as a great supplement to traditional casinos.

Most Viewed Articles