Online gambling companies look to bounce back
Posted by Gavin Smith on 10 Nov 2009 at 13:11
Online gambling firms are looking to consolidate over the next couple of years as they hope the expansion of broadband and new government reforms will bring about a new period of progress in the industry.
Bosses are hoping that after a period of upheaval, the industry could set for a smoother time after it suffered under the weight of tough laws and recession. The Financial Times points out that France, once one of the most enthusiastic prosecutors of online gambling activities, is now close to passing a law which would bring in a regulated market.
Italy is also making changes, welcoming online poker last year and now moving towards legalising casino and bingo games. Other countries, particularly in Scandinavia, are looking to follow suit.
Quoted by the Times, Ralph Topping, chief executive of William Hill, the UK betting firm, said: "We have seen huge changes in Europe and huge growth. We are extremely confident about the next two to three years in Europe."
This is a significant turnaround from a year and half ago, when industry bosses even faced arrest if they traveled to countries such as America, where officials pursued companies they said broke their anti-gambling laws.
Gambling over the internet has become successful after land-based operators were hit by the smoking ban in Britain, which has driven some customers to staying at home. Besides this, the internet world has benefited from the rising popularity for real time sports betting.
However, the internet gambling world has not been immune from the recession, with poker suffering, and sports betting also finding it tough in some cases.
Mobile broadband expansion could herald a new era of progress of the industry, as countries which previously relied on slower networks upgrade their services.
