Gaming market research firm H2 Gambling Capital has released a report which revealed that internet gambling is growing at a rate that is more than twice as fast as traditional land based casinos.
The report revealed that online gambling grew 7.2% in 2012, compared to 3.1% in the land gambling industry. That is not the only optimistic stat for the industry, as the study revealed that online gaming has grown into a €25 billion.
Even with those lofty numbers, online gambling is still a relatively small segment of the gambling market, making up 8% of the global gross revenues of the gaming industry.
Market penetration of online gambling is 12.6% in Europe, while North America has seen just 4.4% penetration, as the United States currently has extremely limited legal options for punters. Growth is expected to continue for the industry, reaching €42.9 billion by 2018 as the market rate grows by 9.3% annually.
Sports betting is the most popular section of the online betting industry, generating 46% of revenues last year. Casino action came in second at 17%, while online poker keeps free falling, accounting for just 13%.