This story was published more than 9 years ago.
The global strength of internet gambling is still growing, as a Research and Markets study shows that the industry is gaining more revenue despite a weak economic environment.
The online gambling industry racked up $33.6 billion in gross wins during 2011, which translates to a Compound Annual Growth Rate of 16.8% from the years 2007 through 2011. Currently the sports betting portion of the online gambling market is the most lucrative, as it accounted for 48.9% ($16.4 billion) of the industry's overall value.
All is not perfect within the industry, however, as the study predicts that growth is set to slow down in the next five years. The predicted CAGR rate for the years 2011-2016 is 7.9% with a value of $49.2 billion.