Mobile Betting Estimated to Become a $100 Billion Industry in 2017

June 21, 2012 - by mosesbet · Filed Under sports news Leave a Comment 

Social media in collaboration with mobile gaming is anticipated to earn a five-fold revenue in the next five years. According to Juniper Research, social gaming on sites like Zynga, is growing now that laws in the United States have legalized online gambling. In addition, growth of technology for mobile betting, that includes tablets and smartphones will aid the online gambling industry in reaching $100 billion world over, by the year 2017.

Facebook’s collaboration with mobile casinos

Mobile gambling at present is believed to create $20 billion every year. This progress is also expected to increase, owing to the introduction of mobile wallets, that support payments made to mobile casinos. Reports from social gaming networks including Zynga have stated its collaboration with Facebook, to supply real money gambling. Most mobile casinos are looking for these partnerships. Facebook is expected to earn increased revenue owing to mobile apps that facilitate these partnerships, but has not been successful so far.

U.S. Digital Gambling estimates potential revenue

Recent states in the U.S. that have legalized mobile gaming, are looking forward to earning tax revenues based on mobile gambling. The games that are legalized by these states include internet blackjack and poker. The U.S. Digital Gambling reports that taxes levied on states for online gambling, could generate revenues of $5 billion for 10 years, and this is only for online poker. If social gaming sites are combined with this number, the revenue generated could double.

On the whole, state governments in the U.S have realized that permitting online gambling will increase its revenues. Failing this, will ensure that offshore sites that do permit online gambling, benefit from increased revenue. This has resulted in states now taking the initiative to legalize online gaming more actively when compared to the federal government.

In the light of these developments, state run lotteries in the United States are also legalizing online gambling despite facing opposition from retail ticket agents. Irrespective of this, the gambling industry including horse racetracks, off shore casinos and retail ticket agents need to accept the growth of mobile gaming, the internet and social media sites, which cater to millions of users world over.

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