Global Mobile Gambling To Reach $2.2 Billion By 2010
Advances in mobile phone technology have seen an increase in mobile gambling, with global revenues from mobile phone casino games expected to grow at an accelerated pace through 2008, reaching over $2.2 billion by 2010.
Informa Telecoms & Media also expect the mobile gambling industry to thrive, projecting it to reach $7.6 billion by 2010.
Looking at what drives consumers to gamble on their mobile phones, Visiongain found that out of mobile phone users surveyed in the UK, 70% cited convenience as a benefit, while a small number claimed that mobile gaming was less intimidating and allowed for more discretion.
Visiongain found that mobile gambling was most prevalent in the 20 to 35 age bracket, while around one-fifth of respondents under 20 said they would gamble on their mobile phone. Of those over 65, just 2% engaged in the technology.
Consumers are also using their mobile phones to download games, with the mobile gaming industry turning into a multi-million dollar market.
According to eMarketer’s Mobile Gaming brief, world-wide gaming revenue reached $2.5 billion in 2005, with James Belcher, senior analyst and author of the report, saying the industry is “not a fad (see Mobile Phone Gaming Continues To Grow In Popularity).”
Recent figures from market intelligence firm, IDC, forecast revenue from sales of mobile games in the US to reach $1.5 billion in 2008, up from just $600 million in 2004.
Mobile gaming is already an accepted technology, with research from NPD Group showing that 27% of users play games on their handsets (see Mobile Game Downloading On The Rise).
Informa Telecoms and Media confirms this rising popularity, estimating total global revenues from games on mobile phones to reach $11.2 billion by 2010, increasing by a massive $8.6 billion from $2.6 billion this year (see Global Mobile Games Revenues To Hit $11.2 Billion By 2010).