Mobile betting news

UIGEA Helps Drive European Gambling Market to New Heights

Since the Unlawful Internet Gambling Enforcement Act (UIGEA) was passed in the United States, Online Casinos have been faced with very difficult choices and decisions regarding how to respond to a changing industry. But even with all the problems plaguing the industry right now, the report by the European Commission on November 24, 2006 states that both online gambling and the online casino enterprise still have a great future in Europe despite huge losses that they have incurred in the United States.

The report also contains evidence which reveals that the gambling industry contributes about 3% of the total European Union GDP and is expected to break even after United States gaming operators shift their attention towards the European Market. The reports also state that since 2003 about 51 Billion Euros were produced through gambling (45% lottery and about 17% betting). Consequently, the European Mobile Gambling Industry is also expected to rise in 2007.

The CEO of Chartwell Games, Lee Richardson, commented that the current trend in licensing in Italy will offer new options for International Operators in terms of retailing opportunities, as well as the online betting and other gaming opportunities. As one of the companies that will benefit from this continued trend, they are very excited to join and explore these new possibilities that will be beneficial not only to their customers, but to Chartwell as well.

The European Market is ready to rise and in the lead are European Online Casino Firm Cryptologic, and PartyGaming, who can now focus their attention towards this growth. It looks like it is advisable to buy stocks from online gaming companies because of this new trend.


Tuesday, December 12, 2006