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Expert: Online Gambling is Good Bet

27 Jun 2005

SINGAPORE – As reported by the Singapore Business Times: "The two upcoming integrated resorts might make bricks-and-mortar casinos the talk of the town, but online gambling is where the bigger growth will be, according to some in the industry.

"They predict that online gambling will grow at 50 to 70 per cent a year for the next five to ten years. Industry studies also said that by next year, Internet gambling revenues will have grown to US$12.6 billion.

"'I don't think that's unreasonable,' said Tim Levene, chief executive of gambling investments fund Intellilogica. 'The percentage going online to gamble is still a tiny percentage in terms of the online community.'

"…And Realtime Gaming, a software developer for online casinos, says it has seen a 20 per cent growth for the last six years, and gross profit margins of over 36 per cent. With more than 60 clients, the company has handled over US$20 billion worth of wagers over a five year period.

"…Its vice-chairman, Daniel Schultz, told BT there is explosive potential for online gambling because land for hosting face-to-face gambling could be limited and expensive…"

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