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Mobile Betting to Grow to $100 Billion Industry by 2017
Jun 4, 2012
Mobile gambling growth
Mobile gambling combined with social media is expected to quintuple in revenues within five years.
According to Juniper Research- due to the legalization of online gambling in the US, the growth of social gambling on such sites as Zynga, and the development of mobile technology-overall mobile betting (including smartphones and tablets) will grow to $100 billion worldwide by 2017.
Currently, the mobile gambling is estimated to generate $20 billion per year. What will add to the growth is also the development of mobile wallets with which the payments can be made.
Not only Zynga, as social gambling news have reported before, is teaming up with Facebook to provide eventual for-money gambling. Mobile casinos are also seeking partnership agreements. Facebook, in fact, is looking to start making money off mobile apps as, so far, it hasn’t been able to do so.
Those American states which seek to legalize gambling, including poker or Internet blackjack, are looking into possibilities of making tax revenues via mobile gambling. According to U.S. Digital Gambling, the state tax revenues from online poker could generate $5 billion in 10 years and, if combined with social gambling sites, could double the number.
In effect, the state governments are understanding that allowing online gambling will add to their revenues. Not doing so will only generate income for offshore sites. As a result, the states are moving up faster when it comes to legalization of gambling than the federal government.
What is interesting is that not only casino games in America would be brought to reality, but also state lotteries are seeking to do so. And doing so despite the opposition coming from retail ticket sales agents. But the gambling establishment, be it ticket agents, land-based casinos, or horse racetracks, needs to accept the inevitable: the rise of internet and mobile gambling with the twist of social media sites, which hundreds of million of users access.