In 2011 Hollywood movies grossed about $26 billion worldwide in 2011. In South America online gambling generated $124 billion the same year. Global Information Inc. released a market research report that explored the global market for online gaming. Online gambling is highly regulated around the world. In the United States online gaming is illegal and in Latin American online gambling is only legal in Argentina and Chile. In Europe the laws and regulations vary from country to country and the European Commission has been trying to come up with a solution for years.
In the Asia Pacific area online gambling is only legal in the Philippines. In 2011 the mobile gaming market accounted for less than 1% of the total global market but mobile gaming is rapidly growing. Many top gaming companies have added mobile apps that can be used to play games. In the UK online bingo operators have added mobile applications and the sector is rapidly expanding.
The ban on online gambling in the United States has sent residents to offshore websites. The figures show that less than 1% of all Americans participate in online gambling. About 50% of all Americans play lottery games. In Canada provincial governments launched online gaming sites to generate more tax revenues. In South America online gaming generated 100 billion Euros in 2011. According to the report this year many gaming operators discovered social networks as a way to expand their operations. Facebook is offering real money online bingo games in the UK and the company hopes the move will boost sluggish revenues.
PokerStars, the world’s leading poker site, expanded operations into Spain in June 2012. Gaming giant Bwin.Party is considering selling its popular Ongame to social gaming giant Zynga. Online gambling has been legalized in several European countries. The UK was the first to legalize online gambling and set up a regulatory regime. Germany legalized online gambling in Schleswig-Holstein in 2012 and by 2015 revenues are expected to hit 2 billion Euros. Experts say the Spanish market will double between 2011 and 2014.
Some operators are eying the Indian market. India has a sophisticated IT infrastructure and a large English speaking population that could present new opportunities for operators. Operators are also exploring the potential of the Asian market. The US is on the verge of legalizing online gaming and that could create an unprecedented boom in the online gaming industry.