It would seem that the global recession is not affecting the online gaming market as much as one might think. A recent report by the GBGC (Global Betting and Gaming Consultants) shows that globally the online gaming industry had a gross yield of $20 billion in 2008, making it a very good year for the industry as a whole.
The success of the gaming market as reported in the Interactive Gambling Report shows that the trend is set to continue in 2009 with most online gaming companies reporting early successes for the year so far. It is believed that this is due in part to changing spending behaviours of the public, with reports of a global recession the public are choosing to stay in to pursue leisure activities rather than go out as they may have done previously.
The benefits of online gambling to the gaming industry is the speed with which websites can react to changing habits and trends which is impossible with brick and mortar establishments. New software and improvements in technology mean that customers are able to enjoy up to the minute software the like of which would take serious amounts of times and cash if carried out on the high street.
Although the report seems very positive for online gambling a recent article on the Association of British Bookmakers site, states that the Gambling Commission and the DCMS should be looking at putting pressure on the Government not to do anything that might jeopardise the current stability of the industry, by introducing higher rates of tax or any harsh regulatory changes. They also report an estimated £1billion paid out to the Government in taxes and it is feared that should this be increased it would destroy some of the smaller gaming companies.
It is hoped that there are no major changes to the current taxation imposed, bingo itself has already suffered a much larger tax rate than other forms of gambling and certainly bingo halls could not survive any further heavy taxation. The smoking ban, recession and changing consumer habits have already been at the root of the demise of many of the brick and mortar bingo halls, and it is hoped that there will be no further victims.