Silicon Valley has set their gilded sites on a brand new horizon - the world of online gambling. Starting with an ongoing push overseas, where Australian gaming and the like are widely embraced and very successful, and with an eye towards the biggest emerging market of all - America. Over the past several years, several American states have rapidly moved to embrace virtual gambling - even while blocking fantasy sports sites from operating without their consent.
According to the New York Times, overseas online betting is generating an estimated $32 billion in annual revenue — nearly the size of the entire United States casino market. The paper of record also concludes that betting on mobile devices alone will be a $100 billion worldwide industry by 2017.
The tech barons of Northern California are thusly reacting in bullish fashion, with the aim of making online gambling in America as commonplace as streaming Netflix or playing Clash of Clans. The ability to bet from your own couch, among your own friends and peer group, is a compelling commercial possibility. Facebook, Apple and other major tech players already allow these actions overseas - to great financial success. Even industry titans such as Jeff Bezos and Eric Schmidt have backed firms in the online gambling space.
Facebook will be the most interesting player to watch, as they have played a major role in the rise of casual gaming in the mobile and digital age. Should the House of Zuckerberg ultimately allow wagers between the billions of interconnected Facebook friends, the potential revenue could be huge. While tech industry analysts expect a relatively small number to play for real money, they believe those players will bet heavily - making them infinitely more valuable to the gaming companies.
The international success of online gambling is clear. The demand from American consumers is evident. Now, with this massive investment from the smartest technological minds in the United States, it becomes clear that the rise of online mobile gambling in America is on the very near horizon.
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Online Gambling - The Next Generation
Silicon Valley has set their gilded sites on a brand new horizon - the world of online gambling. Starting with an ongoing push overseas, where Australian gaming and the like are widely embraced and very successful, and with an eye towards the biggest emerging market of all - America. Over the past several years, several American states have rapidly moved to embrace virtual gambling - even while blocking fantasy sports sites from operating without their consent.
According to the New York Times, overseas online betting is generating an estimated $32 billion in annual revenue — nearly the size of the entire United States casino market. The paper of record also concludes that betting on mobile devices alone will be a $100 billion worldwide industry by 2017.
The tech barons of Northern California are thusly reacting in bullish fashion, with the aim of making online gambling in America as commonplace as streaming Netflix or playing Clash of Clans. The ability to bet from your own couch, among your own friends and peer group, is a compelling commercial possibility. Facebook, Apple and other major tech players already allow these actions overseas - to great financial success. Even industry titans such as Jeff Bezos and Eric Schmidt have backed firms in the online gambling space.
Facebook will be the most interesting player to watch, as they have played a major role in the rise of casual gaming in the mobile and digital age. Should the House of Zuckerberg ultimately allow wagers between the billions of interconnected Facebook friends, the potential revenue could be huge. While tech industry analysts expect a relatively small number to play for real money, they believe those players will bet heavily - making them infinitely more valuable to the gaming companies.
The international success of online gambling is clear. The demand from American consumers is evident. Now, with this massive investment from the smartest technological minds in the United States, it becomes clear that the rise of online mobile gambling in America is on the very near horizon.
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