January 17th, 2011 | Published in Inrodution
There were many events that occurred in the world of online gambling in 2010. Some were for the betterment of the industry, others for the worse. The midterm Democratic losses in the United States did not bode well for the advancement of the online gaming industry in November 2010. Democrats tend to favor the legalization of online gaming whereas Republicans do not. Due to this loss, Barney Frank’s legalization bill was placed on hold.
Additional European Legalization
Across the pond in France, the regulation of sports betting and poker was the beginning of a potentially successful industry. In the past, France has kept online gaming out of their laws. Following closely behind is Italy who plans to legalize online gambling sometime in 2011. Other European nations have the legalization of online gaming right on the horizon. 2011 is going to be an active year in the European Union.
An Increase in Global Demand
Regardless of location, the global demand for online gambling is increasing considerably. One example of this is the purchase of the domain name Slots.com by the Bodog Company for $5.5 million. The owners of online gaming domain names that have held onto these for many years have been saw a tremendous amount of money in 2010.
The QuickFire Platform
Microgaming has also been a big factor during 2010 with the creation of the QuickFire platform which allowed online casino operators on different software platforms to provide Microgaming slots on an individual basis to their customers without the need for a license. Although other online gaming developers have been practicing this for a while, Microgaming has always been protective of their licenses. Therefore this was a major breakthrough for the company and customers.
The largest landmark in 2010 was the merger between PartyGaming and Bwin. These were two of the biggest online gambling operators and are now the greatest online gaming entity. This is a clear signal that internet gambling is growing and definitely here to stay. In the near future, for companies to be competitive, they must reach a specific size through mergers and acquisitions. Those that cannot will be forced to sell. There are currently similar talks between 888 and Ladbrokes.
2010 was certainly an excellent year for online casinos; except in the United States. Hopefully Congress and the House of Representatives can agree on the legalization and regulation of online gambling so the United States can catch up to the rest of the world.