Gambling on new jobs

GAMBLING could create 10,000 new jobs in Ireland in the next 12 years, according to a report commissioned by the Gaming and Leisure Association of Ireland.

New positions in casinos and with online gambling sites are predicted to generate €280m in exchequer returns by 2020.

The association is calling for the casino and gaming sector to be regulated to achieve the maximum economic benefits from both traditional casinos and online games.

The report, by DKM Economic Consultants, claims regulation of the gambling sector could generate €50m annually in revenue to the exchequer.

This income would be generated through gaming and corporation tax, PAYE/PRSI contributions and commercial rates from ‘land-based’ or traditional casinos. Online casinos could be even more profitable, generating up to €230m per annum in revenue to the exchequer.

The report predicts that the industry could employ 10,000 people over the next 12 years in the IT and financial services sectors and support services such as accountancy and advertising.

Author John Lawlor said online gaming companies were seeking bases in countries such as Ireland which have well-developed IT infrastructure and skilled staff.

“The online sector is currently largely based in offshore locations that tend to suffer from limitations in terms of IT infrastructure or specialist skill sets.”

Online Gaming Giant Join Forces With Bank

The UK’s newest online banking service, Ivobank, have joined forces with online gambling giant Unibet to bring you a safer and more secure method of banking for depositing and withdrawing from the online casino – hopefully more of the latter than the former.

Ivobank will be introduced as a payment option on a country-by-country basis, beginning with Spain. Unibet, which offers online poker, sportsbetting and casino games, has millions of customers in 150 countries.

“Our partnership with Unibet presents a fantastic opportunity for us,” said Martin Peterlechner, Director of Commercial Development at Ivobank. “Unibet is a great brand and business to be working with in gaming, and we’re looking forward to giving unrivalled service to Unibet and its customers.”

Bingo survey reveals amorous Brit antics

As you might have already read in the bingo news, a well known online bingo operator, Mecca Bingo, recently conducted some research and studies into the activities and antics of regular bingo and online bingo players.

Focusing on research mainly gleaned from traditional bingo halls in the UK, together with data gathered from online bingo polls, Mecca Bingo ended up with a surprising insight (for non bingo fans perhaps) into how the great game of bingo affects the daily lives and relationships of bingo players with their non bingo playing partners.

One of the interesting findings of the bingo survey is that winning a bingo jackpot, whether it be down at the local bingo hall, or playing bingo online from the comfort of your own home, adds a definite boost to your sex life! This is according to statements taken from many hot-blooded bingo enthusiasts – now we know why this great game is so popular!

Winning a traditional bingo hall jackpot definitely perks up the mood of the lucky bingo winners, and two thirds of winners surveyed said they were definitely in the mood for some loving when they arrived home after a bingo jackpot win.

What was surprising was the amount of secrecy involved when winning a bingo jackpot – with up to 37% of winners keeping stum about their lucky bingo win! Partners would be treated to an amorous night between the sheets without knowing the reason why – not that it probably mattered to them at the time!

More than a third of regular bingo players said that they enjoyed to play bingo more, and found it more exciting than being with their partner. When asked about what they would do if they hit a bingo jackpot of £25,000 or more, 25% of bingo enthusiasts said that they would leave their partner!

UK’s online gambling reveals global picture

Online gambling generated over $9bn in revenue from over 22 million players worldwide in 2007 according to the most recent data from Point Topic.

“We used data from our most recent consumer survey in the UK* along with other inputs to establish the global online gambling market,” said John Bosnell, Senior Analyst at Point Topic.

Just under 12% of men and 6% of women gamble online in the UK. The numbers climb to over 14% in the 25-34 year age bracket.

“We estimate that the gaming sites earn $35 per player per month in the high income countries, which is fairly conservative, and around $10 per month per player from the low income territories,” continues Bosnell. “If you extrapolate from these numbers you get to just over $9bn from all countries in 2007.”

Global penetration is at 7% of the online population which in theory leaves plenty of room for growth but there are a number of issues specific to online gambling which make the market intrinsically unpredictable.

“As many authorities impose strict regulation on what is regarded by many as an addiction comparable to alcoholism the market is subject to external controls that set it apart from other online value added services. Online gambling is illegal in China and difficult in much of the US. Potentially major markets like these are currently either out of bounds or only available for certain types of gambling, usually delivered by offshore operators. In combination with irregular changes in regulations in other countries it can be difficult to generate a reliable business model,” says Bosnell.

Despite the problems it’s a crowded market. There are many different types of online gambling, from betting on sporting events, spread betting and poker specific sites through to the full range of games available in physical casinos and there are hundreds of sites vying for business.

“It’s technically straightforward and cheap to set up the sites. The major expenditure is on marketing. When you’re an online business you’re operating in a marketplace where users find it easy to compare your offering with your competition. Free offers, improved gaming experience and straightforward advertising are the primary differentiators,” continues Bosnell.

Online gambling will continue to grow in revenue terms. However, with regulatory uncertainties always present and leisure spend under threat in times of global financial insecurity there are certain to be sites that suffer. Growth will slow and insolvency and consolidation will be a dominant characteristic of 2008 and 2009.