A new report is out by iGaming Business that looks at the growth of the online casino industry. The report is good for those interested in the online casino industry. The report states that by the end of this year, 2010, the online casino market will be worth nearly 5 billion dollars in terms of gross gaming yield. By 2012 it will be worth $5.8 billion dollars (provided the world doesn’t end, if anyone is looking for a good prop bet). And by 2014, the gaming market will be worth over $7 billion dollars, which is an increase of about 79% from 2009. An enormous growth.
This is generating a lot of interest in start up online casinos. Those considering an online casino business might want to consider that it takes an estimated $1.5 million in start up costs to set up an online casino. But since an online casino requires fewer employees and much less real estate than a land based casino, this is a fraction of the estimated $300 million to start a land based casino and keep it operational.
Right now the only thing that may hold back the fantastic growth of the online gaming industry is restrictive legislation. But as online gaming becomes more socially acceptable and as people become more comfortable with gaming on their computers, the market is just going to continue to grow. There is money to be made in online gaming and business are all looking for new ways to increase revenue. Even businesses no one would have predicted becoming involved in gambling, such as Virgin Media.