How lucrative have online casinos been through the years? Seeing how some laws badly want them out gives us an idea.
Modern electronic technology applied to casino operation has more than doubled the lucrative nature of casino businesses. Instead of making money out of the limited capacity of physical casinos online casinos have broadened such capacity to include the entire world, 24 hours daily.
In online casino history, the first outfit to offer web casino games brought 18 games on the screen worldwide. This included a lottery game played in all India. According to records, online casino gaming produced some billion dollar profits in 1997, and that’s $600 million from the US share. In mere four years the profits soared three times totaling this time to a hefty $3 billion plus from all over the world.
The phenomenal income rise more than doubled after merely 3 years, soaring to more than $8 billion. Online casino operation was then becoming an attractive global industry in the early 2000 that online casino companies multiplied and established numerous sites on the Web. Ebooks, software, and other online tools and features on gambling reached an all-time high in sales, too. In 2006, income from online casinos reached a whopping $15 billion.
There were expert extrapolations on the possible income incurred from online casinos by the close of the decade—which danced to the tune of $25 billion. But then a major setback came—stiff American legislation on anti online gambling—that bedimmed all hopes of online casinos ever being as lucrative as envisioned. Yet, experts say actual profits may come close to the projected figure if more countries like those in Asia and the Caribbean and some parts of Europe like Germany would legalize it and provide havens where online casinos could base operations from.
The Ecommerce and Online Gaming Regulation and Assurance was formed about 7 years ago but it still remains to be seen how it can further help online casinos earn back their income potential, aside from militating for a secure environment for online gambling. SO far, it provides common ground for online casino outfits.
The incredible income of $2.5 million made by an individual just playing online casino poker in 2003, online casinos got a boost they badly needed. Chris Moneymaker (an appropriate surname) gave online poker a respectable name, and along with it, online casino.
Income from online casinos has been substantial. We understand why some want them out and others in the business what them in.