Online Gambling industry
gives Recession the Finger
 March
9 - Despite the fact that most of the planet is currently
undergoing an
economic meltdown,
the online gambling industry is booming according to a leading
gaming consultancy group, which recently revealed that the total
online gambling revenues for 2008 exceeded US$20-billion.
This is despite the fact that online gambling is currently
banned in the United States, arguably the world's largest online
gambling market. Which begs the question of
when the U.S. finally gets it act together
and legalises, regulates and taxes online gambling, by just how
much will that figure skyrocket?
When the US Congress banned online gambling in October 2006, and
President
Dumbass Bush signed it into law,
many thought the online gambling world would implode,
considering that the majority of online gambling operators and
vendors had their businesses firmly hitched to the U.S. market.
However, given the choice to 'adapt
or die', most
of these large gambling companies - many of them listed on stock
exchanges - simply refocused their efforts on other
existing online gaming markets
such as the UK and Europe, as well as on emerging markets such
as
Asia and even South Africa.
And according to the gaming consultancy group,
the recession has even helped the online gambling industry
along, because it has forced consumers to actively alter their
spending habits, which is a big reason why 2009 has started off
so
lucratively for many of the larger online gambling firms.
For instance, instead of going out for costly meals, shows,
movies and other traditional forms of entertainment, due to
financial constraints many
consumers are now choosing to stay home
instead and explore alternative avenues of entertainment such
safe and secure online gambling websites.
These include a wide choice of
online casinos,
online poker rooms, online bingo casinos as well as online
sports betting sites.
These sites offer consumers
state-of-the-art online gambling software,
lucrative Sign Up and
Welcome Bonuses,
progressive jackpots that reach into the millions, exciting
promotions and, of course,
complete anonymity.
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