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European Casinos Say Online Gambling Hurting Business
14 Aug 2006
State licensed lotteries have traditionally been the largest bodies to attract gambling money across Europe. Most of these organizations have billion dollar revenues and donate their profits to charity. Since the introduction of online gambling just over a decade ago, the market has suddenly become much smaller and many lotteries are finding that their gambling public is taking their business elsewhere… to the internet.
Experts predict that European online gambling will increase by approximately 10% in the next few years. Internet use on this continent has not yet reached its full potential and online gambling companies are tapping into virginal markets across Europe. This is bad news for land-based casinos and state-run lotteries, whose business is expected to decline by about 4% over the next couple of years as gamblers opt to try out newer, more exciting options online. Not all governments are tolerant of this invasion and some countries like Italy are arresting and fining online gambling operators in their country.
It seems however, that an attempt to stop online gambling in Europe is a losing battle. Countries should aim to follow the lead of those who have successfully regulated gambling within their borders (such as the United Kingdom). Internet wagering is here to stay and cannot be ignored any longer
