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Despite the state of the economy, European online gambling companies are expecting growth of around 10 percent this year, says Clive Hawkswood, the chief executive of the Remote Gambling Association.
Among the members of the RGA are the European gambling giants Ladbrokes, William Hill, Unibet, 888.com and Paddy Power.
"The online betting market is coping very well with the slowdown," states Hawkswood. "The main thing that we have going for us is that our markets are still growing and our markets are very diverse."
Of course, not even gambling is immune to the worst financial crisis in 80 years. According to Hawkswood, projections from 12 months to 18 months ago are not the same, but compared to other industries, the online gambling industry can still expect to do very well.
Bookmakers are traditionally regarded as coping well with recession, but even bookmakers have to change with the times. Punters are moving over to the internet and many betting shops are closing their doors. "Online betting has less overheads and costs for both the operator and consumer," Hawkswood says.
"Betting is not an expensive hobby. Stakes are small and affordable. People will continue to have a flutter even when times are tough," Hawkswood explains some of the reasons why the betting industry is still growing while the economy is in recession.
Source: ciol.com
Among the members of the RGA are the European gambling giants Ladbrokes, William Hill, Unibet, 888.com and Paddy Power.
"The online betting market is coping very well with the slowdown," states Hawkswood. "The main thing that we have going for us is that our markets are still growing and our markets are very diverse."
Of course, not even gambling is immune to the worst financial crisis in 80 years. According to Hawkswood, projections from 12 months to 18 months ago are not the same, but compared to other industries, the online gambling industry can still expect to do very well.
Bookmakers are traditionally regarded as coping well with recession, but even bookmakers have to change with the times. Punters are moving over to the internet and many betting shops are closing their doors. "Online betting has less overheads and costs for both the operator and consumer," Hawkswood says.
"Betting is not an expensive hobby. Stakes are small and affordable. People will continue to have a flutter even when times are tough," Hawkswood explains some of the reasons why the betting industry is still growing while the economy is in recession.
Source: ciol.com
