Analysts Predict Industry to A Plunge

Published October 2, 2002 by OCR Editor

Analysts Predict Industry to A Plunge

Recent trepidations on credit card companies bottlenecking online betting have surfaced. Due to this advent, Sebastian Sinclair, an online gaming market analyst has reduced the Online gaming industry's profit figures.

Sinclair started to report on the gaming industry's market place in 1998, at present new reports have marked a first time call stumble for the money-spinning industry. Moreover, The River City Group, a gaming industry adviser, released a report on the unexpected low figures that have struck the industry. This year the Industry took a turn for the worse and found itself at a 10% low. In 2002, figures showed the market standing at $4.09 billion and are expected to go down even more, dropping to a 5% margin of $6.03 billion by 2003.

The reports come after growing discussions on the issue of legalizing or illegalizing Internet gaming venues.

However, there are two sides to the coin. Those who oppose legalizing online gaming are worried that underage gamblers will pursue the legal gaming arena and find themselves battling a gambling addiction. Though, many high ranking executives feel that to stop Americans from gambling online is unrealistically impossible.

Mr. Sinclair on the other hand has no stance on the issue, but later squabbled on the matter, stating that the idea of outlawing online gaming is sketchy and could fail.

He said, "I think the evidence overwhelmingly suggests that ... prohibition can be marginally effective at best."

See also

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The Industry's Billion Dollar Label

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