European Casino Revenue Following in Suit with the US

Casino News - July 16th, 2009 - Written by Glen

All over the United States, casino revenues have been plummeting. Gambling income has dropped significantly from Vegas to Atlantic City, and most spots in between. As the economy worsens, as does tourism and gambling dollars. A recent study has reported that the European Union is seeing an almost equal drop off in money earned.

According to the European Casino Association, revenue dropped nearly 10% over the past year. The European Union is more densely populated than the United States, which gives more potential gamblers. Indeed, the EU also typically has more relaxed age restrictions, so why, many wonder, are gambling revenues declining in a location of the world that is seemingly doing better than many other places, financially and ecumenically? Some argue that it was due to a smoking ban set in place, but this is a subject up for debate.

The only sector in which gambling continues to thrive is online gambling. Online gambling has become a staple of many gamblers, as sports books, casinos, and poker rooms are all becoming more commonplace throughout the Internet. The freedom of choice, and the comfort of their own home, has sent many gamblers to the web in order to do their gaming.

While many online casinos hail from Antigua and Barbuda, many come from Gibralter, the Isle of Man, and other western European locations. This should serve to boost the European Union's gambling revenue on a whole, as players from around the world will continue to plug in and do their gaming through the web.

The global economy is currently weak, but as we continue to see the issues correct, gambling in both the US and the EU should improve. Due to online gambling's increasing popularity and the restrictions the US has put in place, the European Union is actually starting to file complains with the World Trade Organization in efforts to push the issue into a more legal atmosphere. In addition, Representative Barney Frank has been struggling to overturn the civil rights violation that is the UIGEA.