Las Vegas, NV (PRWEB) March 19, 2004 -– A PROFILE OF THE ONLINE GAMBLER By Robert Jay - Online gambling on sports in America has surpassed
total handle of Las Vegas casino-based sports books. A December, 2002 Congressional Report by
US General Accounting Office stated that online gaming reached new heights in 2002 as worldwide revenues topped $4 billion. Of that amount, over $2 billion was wagered by US residents. Bear Stearns backed up these findings by estimating
worldwide market would have been in excess of $5 billion had many American credit card providers not discontinued offering transfers to offshore sports books. Meanwhile,
Nevada handle on sports books was less than $2 billion in 2002; this is
first time in a decade that
Nevada handle dropped below $2 billion.Certainly, part of
decline in
Nevada handle can be blamed on less Americans traveling and an overall downturn in
economy. Perhaps an even bigger factor, however, is
proliferation of slot machines in Nevada casinos. Slots now represent 70% of
profits of Nevada casinos and offer a 6% hold while sports books have an average 3% hold. Thus, it is not surprising that sports books are losing square footage overall in casinos while slots are gaining in space allocated to them.
According to Debbie Silverman of Gone Gambling, an industry portal site, another big growth area for offshore sports books is that many local bookmakers are referring business to
offshore books for safety. Large players are also moving to
internet due to more attractive odds available from
offshore books than are available in Las Vegas. In addition, many offshore sports books attract players with bonuses that you won’t find on The Strip. Anthony Wayne, spokesperson for licensed Curacao-based sports book EWINNER.com (http://www.ewinner.com/), said that his company offers a 15% initial deposit bonus to new depositors. “With all of
new competitors out there,” said Wayne, “you almost have to do something special to try to attract new players.”
The bonus situation is not any different in
other popular areas of online gambling, notably bingo and lottery services. Bingo House (http://www.bingohouse.com) offers a 100% initial bonus, according to Bonnie Edwards, director of marketing. Edwards’ other site, Lucky Lotto (http://www.luckylotto.com) offers a free $7 bet. The demographics, however, are quite different. “Our players are predominantly females 40-50 years old,” said Edwards.
The Congressional Report goes on to state that one million Americans gamble online every day. One of
reasons for
large amount of online sports bettors is
similarity between
typical sports gambler and
typical heavy internet user, according to David Lee, of Mandalay Bay casino. Lee stated that 77% of online sports gamblers are men. They tend to be single, 25-34 years old, college educated, and with incomes between $40,000 and $80,000 per year. A survey of 2900 internet users by online gaming industry research company, The River City Group, backs up Lee’s findings. The 2001 study indicated 74% of online gamblers are male and that they are among
youngest, highest income, highest education group on
internet. They are also technologically advanced, early adopters, and heavy wireless users.