Online Casino Gambling Soars in UK

Published: Thursday, February 17, 2005 Online-Casinos.com

The amount Britons are gambling over the Internet has increased more than six times in the last year, according to a survey on Tuesday by online casino Casino-on-net

Ten per cent of British women and 16 percent of men said they would consider gambling all of their worldly possessions for a $5 million jackpot, said Casino on Net, which analysts say may be the next online casino to list on the London Stock Exchange.

Its survey of over 2,700 people on streets around Britain found a 566 per cent increase in the amount of money they staked online since the end of 2003.

Online gambling is becoming a booming industry in Britain, one of the few jurisdictions where it is welcomed.

Last week, the world's biggest online poker company, Partypoker (PartyGaming), said it was considering what would be one of London's largest listings in over three years -- estimated at over 3 billion pounds ($5.7 billion).

And in October, shares in Britain's Sportingbet -- the world's biggest online betting firm overall -- soared by over 50 percent following its acquisition of Paradise Poker, a rival to Partypoker (PartyGaming) fronted by American supermodel Caprice.

Moves to ease gambling regulation in Britain have hit resistance from anti-addiction campaigners and the tabloid media.

Mark Griffiths, professor of gambling studies at Nottingham Trent University, told Reuters there was little evidence so far that gambling over the Internet is more harmful than other gambling.

He warned that it was possible, however, that gambling with virtual money lowered its psychological value and that online casinos could cause problems for those with addictions because it is available 24 hours a day.

Casino on Net on Tuesday announced its international membership had risen to 13 million this week from 2.7 million in 2002.

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Online Casino Gambling Soars in UK