• 40 Million Users Gambling Online and Could Quadruple By 2020

    26 April 2007


    Silicon Republic
    Online gambling set to quadruple by 2020

    26.04.2007 – Online gambling to date has netted 40 million users worldwide and looks set to quadruple by 2020, according to Irish research company iReach.
    “The proliferation of new technologies has certainly helped shape a once embryonic marketplace with access to online gambling and gaming sites now aided through broadband internet, WAP technology and interactive television” said Ara Cho, business analyst with iReach.

    In the UK alone, the gambling market is worth £50bn. Paddy Power is one of the largest betting agents in Ireland and has had an online presence since 1999. Its online services include traditional betting on sports but it also has a digital casino and poker site.

    There are approximately 340,000 Irish users who gamble online and so revenues in Ireland can continue to increase. In Ireland companies such as Paddy Power have prospered and in 2006 the company’s turnover based on internet gambling increased by 44pc.

    According to Section 33 of the Betting Act, 1931, it is illegal under Irish law for an Irish resident to place a bet with an agent operating outside the Irish State but this is nearly impossible to enforce and implement.

    However, the Irish law relating to gambling both online and off is deliberately unclear as technically refusing to pay out on a bet is not enforceable, even moreso online as it is more difficult to track gamblings operations and their users.

    The danger of online gambling is that addicts can get access anytime and anyplace. In Thailand online gambling has lead to many young people skipping sleep or college in favour of staying online. This has resulted in the Thai government placing a ban on online gaming between 10pm to 6am.

    A recent survey in the UK of online gambling has warned that possibly one million people per year could become addicted because of the ease of gambling from their homes or on their
    mobile phone.

    Juniper Research predicted that by 2011 revenue from mobile gambling will have exceeded that of profits from music downloads.

    Neil Brennan of iReach said that 4.5pc of mobile users worldwide now use their phone to gamble. Although the market for mobile gambling in Ireland is not very large at the moment it will surely grow, with agents such as Paddy Power availing of java applets to allow users place bets from their phone.

    By Marie Boran

    Related News

    • Big time gaming invites players in the hot seat with latest online slot

      New Online Slots

      Big Time Gaming Invites Players to the Hot Seat with Latest Online SlotIvan Stefanovic21 June 2022

      Big Time Gaming’s new slot release, Millionaire Rush, takes Megaclusters to the next level. With so many symbols on the screen, the potential for winning combinations is astronomical. And when you factor in the fact that winning symbols split and react to make room for consecutive wins on the same spin, it’s no wonder this game has such high volatility. But don’t let that deter you – the rewards can be massive. Win Up to 50,000x the Bet

      Read full article
    • Epic win more than 1.600.000 in bgamings plinko

      Slot Winners

      Player Hits $1,600,000 with BGaming’s PlinkoIvan Stefanovic10 May 2022

      For one lucky punter, BGaming's Plinko game proved to be a real money-maker. During a session of stratospheric bets, the player managed to net a total of more than $1.6 million dollars. By maxing out their stake to $1,000 per ball drop, the player was able to rack up an astronomical win. And while 2,500 ball drops may sound like a lot, it pales in comparison to the thrill and excitement of seeing all that cash come rolling in.

      Read full article
    • Mega moolah strikes again by paying out to lucky winner 7.3 million

      Gambling News

      Mega Moolah Strikes Again by Paying Out €7.3 million to Lucky WinnerIvan Stefanovic23 February 2022

      Even through it was developed more than 15 years ago, Mega Moolah is still one of the most popular in the online slot sector. In December 2021, one player won €3.9 million on Mega Moolah Goddess, and another winner was made at the beginning of February 2022, signifying the year's first Mega Moolah millionaire. On February 6, 2022, the winner was an individual who had won a jackpot playing Mega Moolah on February 5.

      Read full article