Online Casinos Firm Eyes Up U.S. Market

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Online Casinos Archive » Online Casinos Firm Eyes Up U.S. Market

Online Casinos Firm Eyes Up U.S. Market

17 May 2006

While the trend in the online casinos industry is for firms to work on decreasing their dependence on the U.S., one well-known online casinos and sports betting firm appears to be going out of its way to woo U.S. legislators into letting it do the very opposite. According to Christian Hellmers, director of business development for online casinos and sports betting firm Bet Fair, the U.S. may be on the list of possible expansion targets for the firm.

Hellmers recently stated that the online casinos group could provide $50 million in revenue for the U.S. in new shared revenues by 2008 if it was allowed to operate in the country. The online casinos firm's calculations indicate that it could increase the $134 million annual sports betting market in the U.S., while its gross revenue could hit $30 million by 2007 and $50 million by 2008. Currently sports betting is deemed illegal by U.S. authorities; however this does not deter hundreds of thousands of sports betting and online casinos fans from participating in betting and gambling activities at offshore gaming sites every day.

Over the last year, various attempts to ban the online casinos industry have left some gaming operators hesitant about expanding their businesses in the U.S. As a result, many operators of online casinos are now focusing their attentions on new markets such as Europe, South America and Asia. In recent news, Playboy has announced that its new online casinos will not cater for U.S. players. Last year, Virgin Gaming's new poker site was launched with software that automatically bans U.S. residents from participating online.

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