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State of Casinos 2005

Discussion in 'Online Casinos' started by BigBill, Feb 22, 2005.

    Feb 22, 2005
  1. BigBill

    BigBill Dormant account

    Occupation:
    Retired
    Location:
    Melbourne Beach, Florida
    For all that missed this in USA Today 2/8/2005

    Online gambling sites expect big payoffs

    By Jon Swartz, USA TODAY
    SAN FRANCISCO Online gambling has hit the jackpot.
    After years of escalating growth, it's poised for its biggest year. That reflects a growing obsession with poker, advances in broadband and wireless technology, and the temptation to strike it rich from a PC.
    More than 2,000 gambling Web sites this year will rake in nearly $10 billion in revenue, most from U.S. consumers. That's up 40% from 2004. In 1996, when lawmakers first sought to curb Internet gambling, 30 sites collected $30 million, says researcher Christiansen Capital Advisors. That makes gambling one of the Internet's largest moneymakers, even though it is illegal.
    Poker revenue is expected to double to more than $2 billion and attract 1 million players a month. Americans play at 266 Web sites, up from 53 in June 2003, says gaming site CasinoCity.com.
    "Poker has jolted the industry," says Mike Sexton, a professional poker player who consults for PartyPoker.com, which is expected to haul in $1 billion in revenue this year. "Playing poker is a skill and considered cool," he says. "It's acceptable whether you're sitting around a table with friends or in front of a PC."
    Technology and TV are paving the way. Peer-to-peer technology lets players compete head-to-head over the Internet in real time. Matches on ESPN, Bravo and the Travel Channel draw solid ratings. The popularity of poker, in turn, has further legitimized an industry once considered taboo by squeamish bettors.
    "The fear factor is largely going away," says Alex Czajkowski, marketing director for Sportsbook.com. "The bigger, more reputable online casinos are not going to rip you off, and more people are betting."
    That has meant more business for virtual slot machines, bingo and roulette. At the same time, advances in wireless technology make it easier for consumers to place wagers on sports events from cell phones or a personal digital assistant.
    About 3% of people acknowledge gambling online at work, vs. 2% in 2003, according to a survey by Harris Interactive last year.
    The surge hasn't escaped the attention of law-enforcement officials. But they are powerless to stop it.
    Almost all gambling sites are offshore, where they are immune from U.S. law.Federal and state officials have discouraged some banks from allowing their credit cards to be used for cyberwagers
    The federal 1961 Wire Act prohibits the use of phone lines for placing bets, but there is no national law that applies to Internet gambling.

    Sen. Jon Kyl, R-Ariz., who has spearheaded efforts to crack down on Internet gambling since 1996, might try again this year.

    ------------
    I knew the online gambling was big but not that big

    BigBill
    ---------
    So many Billion$ and so little time
     
  2. Feb 22, 2005
  3. Mugwump

    Mugwump Dormant account

    Location:
    Oho
    Geez, I hate USA today....stupid McPaper.

    The term peer-to-peer refers to a type of network architecture in which nodes of the network can perform as either computing clients or servers depending upon what is required of them. This is generally used for file sharing applications.

    I know its a geekoid semantics thing, but misuses of technical terms such as this by media outlets really p*** me off.

    Other than that though, I just find it really hard to believe that these casinos are generating 10B$ worth of deposits a year, if the poker portion of this revenue is only 2B$. From what I understand, Intercasino is one of the largest and most popular casinos on the net, and I rarely, if ever, see more than 200 people logged in at one time there. I'd like to know how USA today worked up these numbers. Party Poker averages about 10,000 players online at any given time in order to achieve 1B$, and it is by far the busiest poker site.

    Maybe the author of the story (or USA today) has an interest in CRYP stock?
     
    Last edited: Feb 22, 2005
  4. Feb 23, 2005
  5. 555YY

    555YY Dormant account

    Occupation:
    "":".."|
    Location:
    PA
    actually i believe that assumption is wrong

    from what i've heard casino-on-net is by FAR the largest and most popular online casino room

    in fact, i've heard estimates that they herald 80% of total overallonline casino business worldwide

    so if you really wanted to know what how much online casino is generating per year worldwide, find a report that have the gross revenue for con and multiply it by 1.25 :D
     
  6. Feb 24, 2005
  7. largeeyes

    largeeyes Dormant account

    Occupation:
    Engineer
    Location:
    North America
    The thing about poker that you are missing is the number of people it brings because of the craze who then go on to play the other casino games like BJ, slots, etc.
     
  8. Feb 24, 2005
  9. Mugwump

    Mugwump Dormant account

    Location:
    Oho
    Wow, I didn't know CON was that big. I figured people would be scared once they figured out the company's acronym... It does help to explain why their poker site (pacific poker) has such loose players though.

    Despite this, if online gaming brings in 10B a year, and party poker brings in 2B a year....thats 8B left. If CON is 80%, then they are bringing in $6.25 Billion in revenue according to the article and your statement.

    That can't be right, can it? After all, I'm not sure where they're located, but thats got to rival the GNP of their hosting country.

    I do think that the market is increasing exponentially, but 10B just seems awfully optimistic.
     

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