iGB Intelligence reports | Page 21

Chapter 1 – Introduction Factors affecting growth of digital gaming An increasing proportion of the population has access to the relevant technologies and broadband is no longer ‘pay-per-minute’ The technologies are becoming increasingly user-friendly The technologies are becoming increasingly integrated and holistically omni-platform in character These systems have automated and convenient electronic billing systems which make financial transactions increasingly easier Adult populations in the years to come will increasingly consist of people who have grown up familiar with playing electronic games and utilising computers and smartphones in their everyday lives The ingenuity of existing and emerging technology companies and remote operators is ensuring that more and more games and other vehicles for gambling are available through the new technologies Spending on leisure is increasing Spending on home-based entertainment is increasing Gaming is becoming more socially acceptable in many markets A rapid evolution of the digital gaming business compared to bricks and mortar operations can also be explained by the fact that investment costs are comparably low making market entry easier. However, behind many of the first gaming websites were operations based in overseas countries, many of which operated illegally as they did not have the necessary licence required by the country where the services were provided. At the time when these private operations first started finding their way into the online world, it proved very difficult to put an immediate stop to them. They literally flooded the internet with e-mail invitations and online advertisements, because effective measures to trace them down did not yet exist. Being an important source of fraud and money laundering, it became clear that sooner or later such illegal gambling offers had to be banned and forbidden and its operators called to account. Governments in many markets started to consider that it was not acceptable that gambling services could be offered across their borders without having any regulatory requirements to protect customers (and in some cases their own coffers). 1.3.2 Competition for conventional bookmakers A wave of bookmakers appeared online in the late 1990s and at the beginning of the 21st century. By the end of 1996 it was estimated that there were around 15 online gaming sites, increasing to over 200 by the end of 1997. In December 1998, the online publication Bloomberg News reported that 800 gaming sites existed, 60 of which offered real-time betting. There were around 1,800 online gaming sites by the end of 2002. Most of the online gaming expansion in the early years could be attributed to new companies that were not associated with any land-based gambling establishments. This was largely because high street gambling providers did not want to do anything that might jeopardise their land-based licences because of the grey legal status of internet gambling (although this perception has since changed or been addressed by legislation) plus they were worried about potentially cannibalising their high street markets. In the early 2000s, a new breed of bettors also emerged, i.e., those who preferred to place wagers from the comfort of their own home, quickly, conveniently, and 24 hours a day as well as those who valued anonymity. Digital sportsbooks have since taken measures to attract new punters by making digital betting very intuitive and straightforward. 14 Digital Sports Betting