Mobile Gambling Worth $3 Billion In 2009?

Published: Saturday, July 02, 2005 Online-Casinos.com

MOBILE GAMBLING WORTH $3 BILLION IN 2009?

New study from Mintel International

Mobile gambling has a hot future, according to a new study by Mintel International just out.

The review reveals that mobile gaming has become an increasingly rewarding area of cellular phone revenue, climbing to $200 million in 2004 and increasing its stake in the U.S. at a rapid rate.

Already a popular activity in Europe and the Asia-Pacific region, mobile gambling is projected to generate $3 billion in revenue in the U.S. in 2009. Still, mobile gambling will account for only 1.5 percent of mobile industry revenues, according to Mintel's forecast.

The U.S. casino gambling market generated revenues of $48.3 billion in 2004. This market is predicted by Mintel to reach $70.6 billion in 2009. Mobile gambling forecast revenues for 2009 equate to more than 4 percent of this predicted casino gambling revenue.

"This is really an untapped profit center for companies that produce gaming content, as well as wireless carriers," said Erik Thoresen, research analyst for Mintel. "Cell phones are rapidly growing in their functional capabilities."

The cell phone industry has experienced a significant boom within the last five years, reaching $113 billion last year in service subscriptions and handset sales alone. Internationally, the number of cell phone users will surpass 2 billion this year.

"Mobile gambling is driven by the same sort of innovation that is growing ringtone downloads and mobile movie previews," said Thoresen. "Cell phone technology is able to integrate within the context of our culture, due to increasingly more sophisticated technology. Many Americans are turning to their mobile phones for entertainment as well as communication."