Online Casino players doubled in 2005.
In the last year the number of Americans who have dabbled with online gambling has doubled in the last year, it now stands about 4 percent of the population of the usa, as people were lured in by its convenience.
The survey was held by the American Gaming Association (AGA), it was part of a broader study of gamblers, and the study also added that the revenue taken at the U.S. casinos rose by 5 percent last year, to a record $30.3 billion, as more and more visitors flocked to the states like Nevada that all have a growing number of casinos.
The growth in revenue strongly reflects a huge growth from several companies like Harrah's Entertainment Inc. and MGM Mirage Inc., who are riding the wave of interest in gambling and the growing popularity of tourist destinations like Las Vegas and Atlantic City.
AGA Chief Executive Frank Fahrenkopf said on a conference call after the release of the AGA's 2006 “State of the States” report “This is proof there is still room for growth”.
The report also stated that more and more Americans are turning to the internet, as they have found that gambling online is much more convenient, despite the confusion about the legality of online gambling.
A law which was passed in 1961 forbids interstate telephone betting which The U.S. Justice Department says it also applies to the internet. But only 19 percent of the 552 Internet gamblers polled thought it was illegal, according to the report.
The report also added that almost half of the people who gambled online said they did so primarily because it was convenient, while fewer than one in 10 said their biggest reason was the chance to win money.
Internet gambling worldwide generated some $12 billion in revenue last year, with about half the sales coming from U.S. residents.
The trade group, which represents casino companies and suppliers, recently softened its opposition to Internet gambling, calling for a U.S. congressional study to evaluate its impact.
Fahrenkopf said “There are some in our industry who think the technology is there now to provide regulators the comfort that they want.”