Gambling News by Gambling Headquarters

According to market analysts Juniper Research, the global market for all forms of mobile gambling (casinos, lotteries and sports betting) reached more than $1.35bn in 2006. Looking ahead, the firm expects the industry to grow by about 1130 per cent to $16.6bn by 2011. Report author Bruce Gibson said: "We published our last full report on mobile gambling in June 2006. "Following the tightening of legal barriers to all forms of online gambling in the US we decided to revisit our market forecasts as clearly the environment had changed. "The new forecasts confirm that there is still great potential for mobile gambling services where legislation permits. "However, we have certainly dramatically cut back forecasts for the development of the North American market." Europe is currently the largest market for mobile gambling, with an estimated $665m in bets placed in 2006. However, it is expected to be overtaken by the rapidly expanding Asia Pacific market by 2008. The Asian market is expected to reach over $6.7bn by 2011, Juniper Research said in their latest report. Gibson added: "The downgrading of forecasts for the North American market increases the focus on the key markets of Europe and Asia Pacific. "These two markets are now expected to contribute over 80 per cent of the value of bets placed through to 2011."